Samba Bank’s profits soar by 2.08x in 1HCY23
MG News | August 24, 2023 at 03:08 PM GMT+05:00
August 24, 2023 (MLN): Samba Bank Limited (SBL) announced its half-yearly 2023 results where the bank’s net profits soared by 2.08x to Rs706.1 million [EPS: Rs0.7] compared to Rs339.2m [EPS: Rs0.34] in the same period last year (SPLY).
Going by the income statement, the bank witnessed an increase of 69.47% YoY in its markup interest income to clock in at Rs3.57 billion against Rs2.1bn in the same period last year (SPLY).
On the other hand, the bank’s total non-markup interest income declined by 37.67% YoY to Rs440.88m as compared to Rs707.35m in SPLY.
This was due to a massive loss on securities of Rs515.24m. In addition, the dividend income also declined by 42.41% YoY in 6MCY23.
The six months’ total non-mark-up/interest expenses stood at Rs2.26bn, up by 17.42% YoY.
On the taxation front, the company paid Rs449m, 63.46% YoY higher than Rs274.68m paid in SPLY.
| Unconsolidated (un-audited) Financial Results for the half-year ended 30 June, 2023 (Rupees in '000) | |||
|---|---|---|---|
| June 23 | June 22 | % Change | |
| Mark-up/return/interest earned | 13,807,536 | 9,603,441 | 43.78% |
| Mark-up/return/interest expensed | 10,241,682 | 7,499,304 | 36.57% |
| Mark-up/return/interest income | 3,565,854 | 2,104,137 | 69.47% |
| NON MARK-UP/INTEREST INCOME | |||
| Fee and commission income | 198,888 | 215,153 | -7.56% |
| Dividend income | 16,737 | 29,063 | -42.41% |
| Foreign exchange income | 731,264 | 629,258 | 16.21% |
| Gain / (loss) on securities | (515,239) | (172,097) | 199.39% |
| Other income | 9,230 | 5,972 | 54.55% |
| Total non mark-up/interest income | 440,880 | 707,349 | -37.67% |
| Total Income | 4,006,734 | 2,811,486 | 42.51% |
| NON MARK-UP/INTEREST EXPENSES | |||
| Operating expenses | 2,233,584 | 1,910,239 | 16.93% |
| Workers' Welfare Fund | 26,000 | 12,800 | 103.13% |
| Other charges | - | 1,303 | - |
| Total non mark-up/interest expenses | 2,259,584 | 1,924,342 | 17.42% |
| Profits before provisions | 1,747,150 | 887,144 | 96.94% |
| (Provisions) / reversal and write offs - net | (592,127) | (273,274) | 116.68% |
| Profit before taxation | 1,155,023 | 613,870 | 88.15% |
| Taxation | (448,977) | (274,679) | 63.46% |
| Profit after taxation | 706,046 | 339,191 | 108.16% |
| Earning per share - basic (Rupees) | 0.70 | 0.34 | - |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 171,725.29 261.56M | 2.31% 3881.05 |
| ALLSHR | 103,214.49 498.64M | 2.00% 2024.02 |
| KSE30 | 51,517.14 135.33M | 2.40% 1209.13 |
| KMI30 | 246,565.71 111.44M | 2.29% 5524.54 |
| KMIALLSHR | 67,042.77 274.55M | 1.94% 1273.86 |
| BKTi | 47,299.71 43.26M | 3.04% 1394.54 |
| OGTi | 36,341.37 10.64M | 2.20% 783.44 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 76,945.00 | 77,935.00 76,105.00 | 1170.00 1.54% |
| BRENT CRUDE | 97.47 | 98.02 97.12 | 1.33 1.38% |
| RICHARDS BAY COAL MONTHLY | 110.00 | 0.00 0.00 | -8.75 -7.37% |
| ROTTERDAM COAL MONTHLY | 113.00 | 0.00 0.00 | 0.30 0.27% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 91.23 | 93.90 89.41 | -5.37 -5.56% |
| SUGAR #11 WORLD | 14.68 | 0.00 0.00 | -0.02 -0.14% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|