Samba Bank posts 53% drop in quarterly profit

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MG News | April 18, 2025 at 03:19 PM GMT+05:00

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April 18, 2025 (MLN): Samba Bank Limited (PSX: SBL) reported a profit after tax of Rs166.85 million for the quarter ended March 31, 2025, reflecting a sharp 53.48% decline compared to Rs358.68m in the same period last year.

Earnings per share (EPS) dropped to Rs0.17 from Rs0.36, down 52.78% year-on-year.

The fall in profitability was primarily driven by a 16.10% drop in net mark-up/interest income, which stood at Rs1.56 billion, down from Rs1.86bn.

This decline occurred despite a 30.60% decrease in mark-up/interest expenses to Rs3.97bn, as mark-up earned also declined by 4.33% to Rs5.53bn.

While dividend income increased by 40.24% and foreign exchange income rose by 6.83%, other income plummeted by 73.27%, and fee and commission income dropped 5.72%.

Operating expenses remained largely flat, edging up 1.09% to Rs1.34bn.

Provisions for credit losses, however, surged by 79.08%, further impacting earnings.

As a result, profit before tax fell 49.39% to Rs355.22m, while tax expenses dropped 45.11% to Rs188.37m, offering limited offset to the overall decline in bottom-line profitability.

Condensed Interim Income Statement for the Quarter Ended March 31, 2025 (Rupees '000')
Description Mar-25 Mar-24 %Change
Mark-up / Return / Interest earned 5,529,223 7,579,570 -27.05%
Mark-up / Return / Interest expensed 3,972,100 5,723,939 -30.61%
Net mark-up / interest income 1,557,123 1,855,631 -16.09%
Fee and commission income 84,042 89,138 -5.72%
Dividend income 19,867 14,166 40.24%
Foreign exchange income 231,586 216,771 6.83%
Income / (loss) from derivatives      
Gain / (loss) on securities 47,973 (469)  
Other income 172 260 -33.85%
Total non-markup / interest income 383,100 320,307 19.60%
Total income 1,940,223 2,176,238 -10.85%
Non Mark-Up / Interest Expenses      
Operating expenses 1,337,669 1,323,304 1.09%
Workers welfare fund 9,000 18,000 -50.00%
Total non-markup / interest expenses 1,346,669 1,341,304 0.40%
Profit before provision 593,554 834,934 -28.91%
Credit loss allowance / provisions / reversals and write offs - net (238,332) (133,085) 79.08%
Extra ordinary / unusual items      
Profit before taxation 355,222 701,849 -49.39%
Taxation (188,373) (343,166) -45.11%
Profit after taxation 166,849 358,683 -53.48%
Earnings per share - basic and diluted 0.17 0.36 -52.78%

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