Samba Bank posts 53% drop in quarterly profit
MG News | April 18, 2025 at 03:19 PM GMT+05:00
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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