Samba Bank records 2.87x increase in net profits for 9MCY23

News Image

MG News | October 26, 2023 at 03:53 PM GMT+05:00

0:00

October 26, 2023 (MLN): Samba Bank Limited (PSX: SBL) announced its results for the nine months of 2023 where the bank’s net profits soared by 2.87x to Rs1.06 billion [EPS: Rs1.05] compared to Rs369.35m [EPS: Rs0.37] in the same period last year (SPLY).

Going by the income statement made available by the company on the PSX, the bank witnessed an increase of 80.25% YoY in its markup interest income to clock in at Rs5.73bn against Rs3.12bn in the same period last year (SPLY).

On the other hand, the bank’s total non-markup interest income declined by 23.64% YoY to Rs847.27m as compared to Rs1.11bn in SPLY.

This was due to a massive loss on securities of Rs465.7m. In addition, the dividend income also declined by 30% YoY in 9MCY23.

Accordingly, the bank’s total income was recorded at Rs6.57bn as against Rs4.29bn in SPLY.

The nine months’ total non-mark-up/interest expenses stood at Rs3.46bn, up by 15.92% YoY.

On the taxation front, the company paid Rs792m, more than three times YoY higher than the Rs256m paid in SPLY.

Unconsolidated (un-audited) Financial Results for Nine months ended 30 September, 2023 (Rupees in '000)
  Sep-23 Sep-22 % Change
Mark-up/return/interest earned 21,200,792 15,769,769 34.44%
Mark-up/return/interest expensed 15,475,308 12,593,278 22.89%
Mark-up/return/interest income 5,725,484 3,176,491 80.25%
NON MARK-UP/INTEREST INCOME      
Fee and commission income 298,690 300,216 -0.51%
Dividend income 27,046 38,597 -29.93%
Foreign exchange income 975,044 917,788 6.24%
Income / (loss) from derivatives      
Gain / (loss) on securities (465,696) (159,511) 191.95%
Other income 12,187 12,499 -2.50%
Total non mark-up/interest income 847,271 1,109,589 -23.64%
Total Income 6,572,755 4,286,080 53.35%
NON MARK-UP/INTEREST EXPENSES      
Operating expenses 3,422,281 2,970,091 15.22%
Workers' Welfare Fund 37,000 12,800 189.06%
Other charges   1,303 -100.00%
Total non mark-up/interest expenses 3,459,281 2,984,194 15.92%
Profits before provisions 3,113,474 1,301,886 139.15%
(Provisions) / reversal and write offs - net (1,261,221) (676,524) 86.43%
Extraordinary items/unusual items - -  
Profit before taxation 1,852,253 625,362 196.19%
Taxation (791,977) (256,009) 209.36%
Profit after taxation 1,060,276 369,353 187.06%
Earning per share - basic (Rupees) 1.05 0.37 183.78%

Amount in thousand except for EPS

SBL and KSE-100 YTD Performance

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,520.00 119,635.00
118,145.00
1225.00
1.04%
BRENT CRUDE 72.79 73.17
71.75
0.28
0.39%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.54 69.79
68.45
0.33
0.48%
SUGAR #11 WORLD 16.56 16.58
16.37
-0.03
-0.18%

Chart of the Day


Latest News
July 30, 2025 at 05:54 PM GMT+05:00

Pakistan BCI decreased by 1.2 points in July


July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July


July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg