In their Board of Directors meeting held on August 15th 2018, Samba Bank Limited reviewed their Profit and Loss Account for the half year period ended on June 30th 2018.
As per the report, in compasirion with the half year ended in June 30th 2017, SBL's Mark-up/return/interest income increased by 12.5%, while Net provision against loans and advances was reported at Rs.164 million.
Moreover, Recoveries against debt written-off suffered a reduction of 51% while Net mark-up/return/interestincome after provision witnessed an increase of 37%.
Other than that, Total non mark-up/interest income increased by 46% while Total non mark-up/interest expenses increased by 21%.
Overall Profit for the period witnessed a remarkable increase of almost 90%. Furthermore, Earnings per share increased by 91%, reported at Rs.0.44 per share
| Profit and Loss Account for the Half year Ended June 30th 2018 ('000 Rupees) | |||
|---|---|---|---|
| Jun-18 | Jun-17 | % Change | |
| Mark-up/return/interest earned | 3,619,687 | 3,505,328 | 3.26% |
| Mark-up/return/interest expensed | 2,356,544 | 2,382,502 | -1.09% |
| Mark-up/return/interest income | 1,263,143 | 1,122,826 | 12.50% |
| Provision against loans and advances – net | 164,060 | (121,063) | |
| Reversal of provision for diminution in the value of investments – net | (24,640) | 16,398 | |
| Recoveries against debt written-off | 1,242 | 2,560 | -51.48% |
| Net mark-up/return/interestincome after provision | 1,403,805 | 1,020,721 | 37.53% |
| NON MARK-UP/INTEREST INCOME | |||
| Fee, commission and brokerage income | 131,546 | 101,293 | 29.87% |
| Dividend income | 22,146 | 18,160 | 21.95% |
| Income from dealing in foreign currencies | 71,607 | 48,790 | 46.77% |
| Gain on sale of securities – net | 267,246 | 167,847 | 59.22% |
| Unrealised gain/(loss) on revaluation of investments classified as held for trading – net | (20) | (173) | -88.44% |
| Other income | 267 | 177 | 50.85% |
| Total non mark-up/interest income | 492,792 | 336,094 | 46.62% |
| NON MARK-UP/INTEREST EXPENSES | |||
| Administrative expenses | 1,138,775 | 945,607 | 20.43% |
| Other provisions/write-offs – net | (12,019) | – | |
| Workers' Welfare Fund | 15,114 | 8,020 | 88.45% |
| Other charges | 15,663 | 6 | |
| Total non mark-up/interest expenses | 1,157,533 | 953,633 | 21.38% |
| Extraordinary items/unusual items | – | – | |
| Profit before taxation | 739,064 | 403,182 | 83.31% |
| Taxation | (298,663) | (170,876) | 74.78% |
| Profit after taxation | 440,401 | 232,306 | 89.58% |
| Earning per share – basic (Rupees) | 0.44 | 0.23 | 91.30% |
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