Earning Review: Samba Bank endures a decline in net earnings by 18%

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By MG News | August 27, 2019 at 02:45 PM GMT+05:00

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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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