Samba’s net profit rises 12% to SAR 2.22 bln in H1 2020

05/08/2020 Argaam Exclusive

Samba Financial Group reported a net profit of SAR 2.229 billion for H1 2020, an increase of 12% year-on-year (YoY), driven by a 9.7% YoY rise in operating income, due to higher gains on fair value through other comprehensive income (FVOCI) debt, exchange income, trading income as well as fee and commission income. 



Financials (M)

Item 6m 2019 6m 2020 Change‬
Net Special Commission Income 3,253.49 2,953.40 (9.2 %)
Operating Income 4,366.56 4,790.18 9.7 %
Total Provisions (781.73) (645.52) 17.4 %
Net Income 1,998.91 2,226.51 11.4 %
Average Shares 2,000.00 2,000.00 -
EPS (Riyals) 1.00 1.11 11.4 %

The second quarter net profit grew by 2% YoY to SAR 955 million, thanks to an 8.6% increase in operating income, due to higher gains on FVOCI debt, exchange income, trading income as well as fee and commission income.

 

When compared to Q1 2020, net profit dropped 25% hit by a decrease of 11% and 3% in special commission income, and operating income, respectively. This led to a decline in income from fair value through income statement (FVIS) investments.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Net Special Commission Income 1,607.62 1,390.95 (13.5 %)
Operating Income 2,171.29 2,359.08 8.6 %
Debt Provisions (460.81) (462.89) (0.5 %)
Net Income 934.18 953.45 2.1 %
Average Shares 2,000.00 2,000.00 -
EPS (Riyals) 0.47 0.48 2.1 %

Balance Sheet (B)

Item 6m 2019 6m 2020 Change‬
Assets 235.55 279.26 18.6 %
Customer Deposits 168.31 187.26 11.3 %
Loan 115.06 148.09 28.7 %

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Share Price

Samba Financial Group
38.50
1.70 4.62 %


Financial Ratios
Current
Market Cap (M Riyal) 77,000.00
Shares Outstanding ((M)) 2,000.00
EPS ( Riyal) (TTM) -
Book Value (BV) ( Riyal) -
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) -
P/E (TTM) -
Price/book -
Return on Average Assets (%) (TTM) -
Return on Average Equity (%) (TTM) -
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