Earning Review: Samba Bank endures a decline in net earnings by 18%
MG News | August 27, 2019 at 02:45 PM GMT+05:00
August 27, 2019 (MLN): Samba Bank Limited has announced earnings of Rs. 359 million (EPS: Rs. 0.36) for the half year period ended June 30, 2019, i.e. approximately 18% less than that of same period last year.
As per the notification issued by the bank, the NII increased by 28.7% on account of increase in interest rates. On the flip side, the non-mark-up income fell by 14% owing to substantial decline in gains made on securities.
Furthermore, the total interest expenses of Samba Bank climbed by 6.5%, despite a huge decline in non-core expenses by 98%.
| Profit and loss account for the half year ended June 30, 2019 (Rupees'000) | |||
|---|---|---|---|
|
| June, 2019 | June, 2018 | % Change |
| Mark-up / return / interest earned | 5,299,449 | 3,619,687 | 46.41% |
| Mark-up / return ./ interest expensed | 3,673,083 | 2,356,544 | 55.87% |
| Net mark-up / return / interest income | 1,626,366 | 1,263,143 | 28.76% |
| Non mark-up / interest income |
|
|
|
| Fee and commission income | 154,326 | 131,546 | 17.32% |
| Dividend income | 30,450 | 22,146 | 37.50% |
| Foreign exchange income | 229,621 | 71,607 | 220.67% |
| Income / (loss) from derivatives |
|
|
|
| Gain / (loss) on securities | 6,007 | 267,226 | -97.75% |
| Other income | 270 | 267 | 1.12% |
| Total non-mark-up / interest income | 420,674 | 492,792 | -14.63% |
| Total income | 2,047,040 | 1,755,935 | 16.58% |
| Non mark-up / interest expenses |
|
|
|
| Operating expenses | 1,231,943 | 1,138,775 | 8.18% |
| Workers' Welfare Fund | 13,341 | 15,111 | -11.71% |
| Other charges | 288 | 15,663 | -98.16% |
| Total non-mark-up / interest expenses | 1,245,572 | 1,169,552 | 6.50% |
| Profit before provisions | 801,468 | 586,383 | 36.68% |
| Provisions and write offs - set | -147,769 | 152,681 | -196.78% |
| Profit before taxation | 653,699 | 739,064 | -11.55% |
| Taxation | -293,917 | -298,663 | -1.59% |
| Profit after taxation | 359,782 | 440,401 | -18.31% |
| Earnings per share - Basic & Diluted (Rupee) | 0.36 | 0.44 | -18.18% |
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