Samba Bank posts 53% drop in quarterly profit

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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