Samba Bank’s net earnings slide by 5.5% in 9MCY19

By MG News | October 23, 2019 at 03:24 PM GMT+05:00

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October 23, 2019 (MLN): Samba Bank Limited (SBL) has reported profits of Rs. 519 million (EPS: Rs. 0.51) for the nine months ended September 30th 2019, i.e. around 5.5% lower as compared to the corresponding period last year.

While the net interest income of SBL exhibited a growth of 31.61%, the total non-interest income fell by 5.8% despite an increase in fee and commission income by 23.65%, dividend income by 43.9%, and foreign exchange income by 59.9%,

The total income of the Bank increased by 22.5% whereas the total non-mark-up expenses surged by 8.23% as compared to the same period of last year.

Profit and Loss Account for the nine months ended September 30, 2019 ('000 Rupees)
	Sep-19	Sep-18	% Change
Mark-up/return/interest earned	8,791,656	5,427,952	61.97%
Mark-up/return/interest expensed	6,271,826	3,513,347	78.51%
Mark-up/return/interest income	2,519,830	1,914,605	31.61%
NON MARK-UP/INTEREST INCOME
Fee and commission income	246,241	199,150	23.65%
Dividend income	38,999	27,097	43.92%
Foreign exchange income	271,387	169,708	59.91%
Income / (loss) from derivatives
Gain / (loss) on securities	19,396	216,647	-91.05%
Other income	1,000	305	227.87%
Total non-mark-up/interest income	577,023	612,907	-5.85%
Total Income	3,096,853	2,527,512	22.53%
NON MARK-UP/INTEREST EXPENSES
Operating expenses	1,903,996	1,750,272	8.78%
Workers' Welfare Fund	18,674	18,131	2.99%
Other charges	7,978	15,443	-48.34%
Total non-mark-up/interest expenses	1,930,648	1,783,846	8.23%
Profits before provisions	1,166,205	743,666	56.82%
(Provisions) / reversal and write offs - net	(251,154)	146,530
Extraordinary items/unusual items
Profit before taxation	915,051	890,196	2.79%
Taxation	(395,944)	(340,472)	16.29%
Profit after taxation	519,107	549,724	-5.57%
Earnings per share - basic (Rupees)	0.51	0.55	-7.27%

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