Financial Results : Samba posts higher net profit at SAR 1159m in I1 of 2013

Samba posts higher net profit at SAR 1159m in I1 of 2013

31/03/2013 Argaam Exclusive

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Samba Financial Group, 2nd largest Saudi bank in terms of assets, reported SAR 1159m net profit at the end of the first quarter of 2013, a 1% increase compared to the same period last year, as shown in the following table:



Current Quarter Comparison (M)

Compared With The
Item Q1 2012 Q1 2013 Change‬
Net Special Commission Income 1,054.81 1,081.96 2.6 %
Operating Income 1,796.16 1,896.97 5.6 %
Debt Provisions (137.54) (218.20) (58.6 %)
Net Income 1,144.50 1,158.26 1.2 %
Average Shares 2,000.00 2,000.00 -
EPS (Riyals) 0.57 0.58 1.2 %

Balance Sheet (B)

Item 3m 2012 3m 2013 Change‬
Assets 196.17 198.54 1.2 %
Customer Deposits 139.90 151.69 8.4 %
Loan 92.78 104.30 12.4 %


Financial results (Million)

Period Net Special Commission Income Change Operating Income Change Debt Provisions Change
Q1 2004 645.88 7.7 % 887.45 6.7 % (11.32) 84.4 %
Q2 2004 719.89 13.3 % 989.19 6.3 % (52.16) 63.1 %
Q3 2004 790.26 30.8 % 1,064.25 39.9 % (47.82) 88.3 %
Q4 2004 795.24 28.9 % 1,054.84 29.6 % (71.70) (36,297.0 %)
Q1 2005 848.36 31.3 % 1,210.05 36.4 % (58.25) (414.8 %)
Q2 2005 870.84 21.0 % 1,436.01 45.2 % (95.57) (83.2 %)
Q3 2005 889.72 12.6 % 1,570.82 47.6 % (13.89) 71.0 %
Q4 2005 899.00 13.0 % 1,610.68 52.7 % (130.36) (81.8 %)
Q1 2006 1,014.33 19.6 % 1,922.13 58.8 % (95.76) (64.4 %)
Q2 2006 1,063.61 22.1 % 1,906.26 32.7 % (70.55) 26.2 %
Q3 2006 1,103.67 24.0 % 1,850.92 17.8 % 25.21 281.5 %
Q4 2006 1,119.34 24.5 % 1,593.42 (1.1 %) (122.58) 6.0 %
Q1 2007 1,162.12 14.6 % 1,837.11 (4.4 %) (117.65) (22.9 %)
Q2 2007 1,193.35 12.2 % 1,888.21 (0.9 %) (91.44) (29.6 %)
Q3 2007 1,321.64 19.7 % 1,794.45 (3.1 %) (54.75) (317.2 %)
Q4 2007 1,267.29 13.2 % 1,676.27 5.2 % (47.66) 61.1 %
Q1 2008 1,311.53 12.9 % 1,789.96 (2.6 %) (56.60) 51.9 %
Q2 2008 1,198.69 0.4 % 1,877.91 (0.5 %) (37.83) 58.6 %
Q3 2008 1,261.05 (4.6 %) 1,737.37 (3.2 %) (33.17) 39.4 %
Q4 2008 1,289.98 1.8 % 1,606.66 (4.2 %) (139.48) (192.7 %)
Q1 2009 1,309.17 (0.2 %) 1,987.72 11.0 % (202.97) (258.6 %)
Q2 2009 1,304.21 8.8 % 1,819.69 (3.1 %) (97.29) (157.1 %)
Q3 2009 1,294.13 2.6 % 1,755.36 1.0 % (76.93) (132.0 %)
Q4 2009 1,162.01 (9.9 %) 1,546.87 (3.7 %) (227.63) (63.2 %)
Q1 2010 1,171.72 (10.5 %) 1,840.92 (7.4 %) (160.10) 21.1 %
Q2 2010 1,202.35 (7.8 %) 1,771.78 (2.6 %) (57.44) 41.0 %
Q3 2010 1,108.04 (14.4 %) 1,729.17 (1.5 %) (158.10) (105.5 %)
Q4 2010 1,054.35 (9.3 %) 1,558.63 0.8 % (183.15) 19.5 %
Q1 2011 1,069.27 (8.7 %) 1,700.95 (7.6 %) (92.80) 42.0 %
Q2 2011 1,133.39 (5.7 %) 1,634.52 (7.7 %) (11.04) 80.8 %
Q3 2011 1,053.38 (4.9 %) 1,713.21 (0.9 %) (90.88) 42.5 %
Q4 2011 1,052.43 (0.2 %) 1,513.68 (2.9 %) (106.69) 41.7 %
Q1 2012 1,054.81 (1.4 %) 1,796.16 5.6 % (137.54) (48.2 %)
Q2 2012 1,078.63 (4.8 %) 1,744.66 6.7 % (60.86) (451.1 %)
Q3 2012 1,109.94 5.4 % 1,694.92 (1.1 %) (34.95) 61.5 %
Q4 2012 1,029.99 (2.1 %) 1,458.34 (3.7 %) (65.30) 38.8 %
Q1 2013 1,081.96 2.6 % 1,896.97 5.6 % (218.20) (58.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2004 580.94 20.8 % 0.29 - 580.94 0.29
Q2 2004 629.21 27.1 % 0.31 - 629.21 0.31
Q3 2004 694.96 962.7 % 0.35 - 694.96 0.35
Q4 2004 600.63 52.0 % 0.30 - 600.63 0.30
Q1 2005 815.92 40.4 % 0.41 - 815.92 0.41
Q2 2005 993.85 58.0 % 0.50 - 993.85 0.50
Q3 2005 1,192.39 71.6 % 0.60 - 1,192.39 0.60
Q4 2005 1,016.09 69.2 % 0.51 - 1,016.09 0.51
Q1 2006 1,427.70 75.0 % 0.71 - 1,427.70 0.71
Q2 2006 1,402.05 41.1 % 0.70 - 1,402.05 0.70
Q3 2006 1,442.63 21.0 % 0.72 - 1,442.63 0.72
Q4 2006 937.99 (7.7 %) 0.47 - 937.99 0.47
Q1 2007 1,270.19 (11.0 %) 0.64 - 1,270.19 0.64
Q2 2007 1,298.18 (7.4 %) 0.65 - 1,298.18 0.65
Q3 2007 1,304.93 (9.5 %) 0.65 - 1,304.93 0.65
Q4 2007 954.97 1.8 % 0.48 - 954.97 0.48
Q1 2008 1,201.13 (5.4 %) 0.60 - 1,201.13 0.60
Q2 2008 1,223.72 (5.7 %) 0.61 - 1,223.72 0.61
Q3 2008 1,203.28 (7.8 %) 0.60 - 1,203.28 0.60
Q4 2008 825.71 (13.5 %) 0.41 - 825.71 0.41
Q1 2009 1,271.62 5.9 % 0.64 - 1,271.62 0.64
Q2 2009 1,243.17 1.6 % 0.62 - 1,243.17 0.62
Q3 2009 1,210.53 0.6 % 0.61 - 1,210.53 0.61
Q4 2009 834.87 1.1 % 0.42 - 834.87 0.42
Q1 2010 1,210.64 (4.8 %) 0.61 - 1,210.64 0.61
Q2 2010 1,220.34 (1.8 %) 0.61 - 1,220.34 0.61
Q3 2010 1,103.16 (8.9 %) 0.55 - 1,103.16 0.55
Q4 2010 900.99 7.9 % 0.45 - 900.99 0.45
Q1 2011 1,123.13 (7.2 %) 0.56 - 1,123.13 0.56
Q2 2011 1,102.06 (9.7 %) 0.55 - 1,102.06 0.55
Q3 2011 1,135.09 2.9 % 0.57 - 1,135.09 0.57
Q4 2011 942.99 4.7 % 0.47 - 942.99 0.47
Q1 2012 1,144.50 1.9 % 0.57 - 1,144.50 0.57
Q2 2012 1,157.50 5.0 % 0.58 - 1,157.50 0.58
Q3 2012 1,159.61 2.2 % 0.58 - 1,159.61 0.58
Q4 2012 868.56 (7.9 %) 0.43 - 868.56 0.43
Q1 2013 1,158.26 1.2 % 0.58 - 1,158.26 0.58

Profitability

Period Return On Average Assets Return on Average Equity Net Interest Income/Total Operating Income
Q1 2004 1.86 % 16.17 % 73.74 %
Q2 2004 2.02 % 18.30 % 74.94 %
Q3 2004 2.73 % 24.28 % 73.85 %
Q4 2004 2.88 % 26.36 % 73.86 %
Q1 2005 2.88 % 28.44 % 73.03 %
Q2 2005 3.26 % 31.30 % 69.35 %
Q3 2005 3.54 % 33.12 % 64.57 %
Q4 2005 3.96 % 34.88 % 60.20 %
Q1 2006 4.22 % 41.85 % 56.18 %
Q2 2006 4.66 % 41.09 % 55.16 %
Q3 2006 4.65 % 40.05 % 55.98 %
Q4 2006 4.49 % 36.95 % 59.14 %
Q1 2007 4.14 % 36.15 % 61.89 %
Q2 2007 4.10 % 33.89 % 63.86 %
Q3 2007 3.74 % 30.79 % 67.43 %
Q4 2007 3.47 % 29.13 % 68.71 %
Q1 2008 3.08 % 28.32 % 71.25 %
Q2 2008 3.00 % 27.99 % 71.43 %
Q3 2008 2.79 % 25.93 % 71.15 %
Q4 2008 2.67 % 23.63 % 72.18 %
Q1 2009 2.60 % 24.21 % 70.17 %
Q2 2009 2.52 % 24.15 % 72.21 %
Q3 2009 2.45 % 22.61 % 72.50 %
Q4 2009 2.50 % 21.63 % 71.30 %
Q1 2010 2.54 % 21.19 % 70.83 %
Q2 2010 2.45 % 20.22 % 69.85 %
Q3 2010 2.37 % 18.53 % 67.42 %
Q4 2010 2.38 % 18.58 % 65.74 %
Q1 2011 2.31 % 17.67 % 65.59 %
Q2 2011 2.23 % 16.54 % 65.90 %
Q3 2011 2.28 % 16.18 % 65.24 %
Q4 2011 2.26 % 16.07 % 65.65 %
Q1 2012 2.23 % 15.65 % 64.50 %
Q2 2012 2.25 % 15.72 % 62.64 %
Q3 2012 2.26 % 15.24 % 63.65 %
Q4 2012 2.22 % 14.49 % 63.84 %
Q1 2013 2.20 % 14.22 % 63.29 %

Balance Sheet (B)

Period Assets Change Customer Deposits Change Loan Change
Q1 2004 85.00 6.0 % 64.88 8.7 % 37.73 13.2 %
Q2 2004 86.96 10.5 % 64.48 8.5 % 40.35 19.7 %
Q3 2004 91.81 19.9 % 73.19 25.4 % 44.43 37.0 %
Q4 2004 94.71 19.8 % 67.04 11.0 % 48.18 38.0 %
Q1 2005 105.10 23.6 % 70.96 9.4 % 53.61 42.1 %
Q2 2005 103.74 19.3 % 81.24 26.0 % 57.26 41.9 %
Q3 2005 111.47 21.4 % 82.46 12.7 % 60.84 36.9 %
Q4 2005 108.31 14.4 % 85.24 27.1 % 62.39 29.5 %
Q1 2006 114.52 9.0 % 93.34 31.5 % 64.65 20.6 %
Q2 2006 112.57 8.5 % 86.64 6.6 % 66.27 15.7 %
Q3 2006 115.76 3.8 % 89.47 8.5 % 66.94 10.0 %
Q4 2006 124.01 14.5 % 94.86 11.3 % 67.03 7.4 %
Q1 2007 129.66 13.2 % 97.64 4.6 % 67.97 5.1 %
Q2 2007 129.12 14.7 % 98.29 13.4 % 72.54 9.5 %
Q3 2007 141.29 22.1 % 105.91 18.4 % 77.91 16.4 %
Q4 2007 154.41 24.5 % 115.81 22.1 % 80.55 20.2 %
Q1 2008 179.82 38.7 % 119.46 22.3 % 90.66 33.4 %
Q2 2008 183.64 42.2 % 121.72 23.8 % 96.36 32.8 %
Q3 2008 187.06 32.4 % 124.95 18.0 % 96.30 23.6 %
Q4 2008 178.89 15.9 % 134.23 15.9 % 98.15 21.8 %
Q1 2009 168.34 (6.4 %) 124.22 4.0 % 90.11 (0.6 %)
Q2 2009 177.05 (3.6 %) 138.17 13.5 % 87.95 (8.7 %)
Q3 2009 184.08 (1.6 %) 141.71 13.4 % 85.68 (11.0 %)
Q4 2009 185.52 3.7 % 147.13 9.6 % 84.15 (14.3 %)
Q1 2010 185.88 10.4 % 137.25 10.5 % 85.20 (5.4 %)
Q2 2010 188.36 6.4 % 136.07 (1.5 %) 82.72 (5.9 %)
Q3 2010 185.01 0.5 % 131.93 (6.9 %) 81.32 (5.1 %)
Q4 2010 187.42 1.0 % 133.46 (9.3 %) 80.25 (4.6 %)
Q1 2011 190.90 2.7 % 134.45 (2.0 %) 81.32 (4.6 %)
Q2 2011 190.63 1.2 % 138.82 2.0 % 82.37 (0.4 %)
Q3 2011 188.57 1.9 % 134.89 2.2 % 88.26 8.5 %
Q4 2011 192.77 2.9 % 137.26 2.8 % 89.11 11.0 %
Q1 2012 196.17 2.8 % 139.90 4.1 % 92.78 14.1 %
Q2 2012 199.51 4.7 % 142.36 2.5 % 95.73 16.2 %
Q3 2012 201.51 6.9 % 143.22 6.2 % 98.06 11.1 %
Q4 2012 197.07 2.2 % 148.74 8.4 % 102.63 15.2 %
Q1 2013 198.54 1.2 % 151.69 8.4 % 104.30 12.4 %

Ratios

Period Customer Deposits Per Total Assets Loans and advances/Total assets Loans and advances/Customers Deposits
Q1 2004 76.33 % 44.39 % 58.15 %
Q2 2004 74.15 % 46.40 % 62.57 %
Q3 2004 79.71 % 48.40 % 60.71 %
Q4 2004 70.79 % 50.87 % 71.86 %
Q1 2005 67.52 % 51.01 % 75.55 %
Q2 2005 78.31 % 55.20 % 70.48 %
Q3 2005 73.97 % 54.58 % 73.78 %
Q4 2005 78.70 % 57.60 % 73.19 %
Q1 2006 81.51 % 56.45 % 69.26 %
Q2 2006 76.96 % 58.87 % 76.49 %
Q3 2006 77.29 % 57.83 % 74.82 %
Q4 2006 76.49 % 54.05 % 70.66 %
Q1 2007 75.31 % 52.42 % 69.61 %
Q2 2007 76.13 % 56.18 % 73.80 %
Q3 2007 74.96 % 55.15 % 73.57 %
Q4 2007 75.00 % 52.17 % 69.56 %
Q1 2008 66.43 % 50.42 % 75.89 %
Q2 2008 66.28 % 52.47 % 79.17 %
Q3 2008 66.80 % 51.48 % 77.07 %
Q4 2008 75.03 % 54.86 % 73.12 %
Q1 2009 73.79 % 53.53 % 72.54 %
Q2 2009 78.04 % 49.67 % 63.65 %
Q3 2009 76.98 % 46.55 % 60.46 %
Q4 2009 79.31 % 45.36 % 57.19 %
Q1 2010 73.83 % 45.83 % 62.08 %
Q2 2010 72.24 % 43.91 % 60.79 %
Q3 2010 71.31 % 43.95 % 61.64 %
Q4 2010 71.21 % 42.82 % 60.13 %
Q1 2011 70.43 % 42.60 % 60.48 %
Q2 2011 72.82 % 43.21 % 59.33 %
Q3 2011 71.54 % 46.81 % 65.43 %
Q4 2011 71.20 % 46.23 % 64.92 %
Q1 2012 71.32 % 47.30 % 66.32 %
Q2 2012 71.35 % 47.98 % 67.25 %
Q3 2012 71.07 % 48.66 % 68.47 %
Q4 2012 75.47 % 52.08 % 69.00 %
Q1 2013 76.40 % 52.53 % 68.76 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 2,000.00 0.77 0.77 4.78
Q2 2004 2,000.00 0.84 0.84 4.50
Q3 2004 2,000.00 1.15 1.15 4.91
Q4 2004 2,000.00 1.25 1.25 5.07
Q1 2005 2,000.00 1.37 1.37 4.85
Q2 2005 2,000.00 1.55 1.55 5.42
Q3 2005 2,000.00 1.80 1.80 5.97
Q4 2005 2,000.00 2.01 2.01 6.45
Q1 2006 2,000.00 2.32 2.32 6.21
Q2 2006 2,000.00 2.52 2.52 6.84
Q3 2006 2,000.00 2.64 2.64 7.23
Q4 2006 2,000.00 2.61 2.61 7.65
Q1 2007 2,000.00 2.53 2.53 7.77
Q2 2007 2,000.00 2.47 2.47 7.77
Q3 2007 2,000.00 2.41 2.41 8.40
Q4 2007 2,000.00 2.41 2.41 8.92
Q1 2008 2,000.00 2.38 2.38 9.04
Q2 2008 2,000.00 2.34 2.34 8.97
Q3 2008 2,000.00 2.29 2.29 9.28
Q4 2008 2,000.00 2.23 2.23 9.92
Q1 2009 2,000.00 2.26 2.26 9.65
Q2 2009 2,000.00 2.27 2.27 9.84
Q3 2009 2,000.00 2.28 2.28 10.86
Q4 2009 2,000.00 2.28 2.28 11.16
Q1 2010 2,000.00 2.25 2.25 11.58
Q2 2010 2,000.00 2.24 2.24 12.29
Q3 2010 2,000.00 2.18 2.18 12.73
Q4 2010 2,000.00 2.22 2.22 12.71
Q1 2011 2,000.00 2.17 2.17 13.01
Q2 2011 2,000.00 2.11 2.11 13.29
Q3 2011 2,000.00 2.13 2.13 13.60
Q4 2011 2,000.00 2.15 2.15 14.06
Q1 2012 2,000.00 2.16 2.16 14.61
Q2 2012 2,000.00 2.19 2.19 14.58
Q3 2012 2,000.00 2.20 2.20 15.30
Q4 2012 2,000.00 2.17 2.17 15.82
Q1 2013 2,000.00 2.17 2.17 15.93

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 24.91 24.91 4.00
Q2 2004 23.14 23.14 4.30
Q3 2004 20.33 20.33 4.77
Q4 2004 25.52 25.52 6.31
Q1 2005 30.59 30.59 8.64
Q2 2005 35.17 35.17 10.07
Q3 2005 29.94 29.94 9.03
Q4 2005 29.12 29.12 9.07
Q1 2006 26.44 26.44 9.86
Q2 2006 20.84 20.84 7.68
Q3 2006 16.42 16.42 6.01
Q4 2006 16.09 16.09 5.48
Q1 2007 18.41 18.41 5.98
Q2 2007 15.40 15.40 4.91
Q3 2007 15.84 15.84 4.54
Q4 2007 22.37 22.37 6.05
Q1 2008 14.28 14.28 3.76
Q2 2008 14.89 14.89 3.89
Q3 2008 13.70 13.70 3.38
Q4 2008 10.36 10.36 2.32
Q1 2009 8.43 8.43 1.98
Q2 2009 8.28 8.28 1.91
Q3 2009 11.77 11.77 2.47
Q4 2009 9.97 9.97 2.04
Q1 2010 11.80 11.80 2.29
Q2 2010 11.46 11.46 2.09
Q3 2010 13.03 13.03 2.24
Q4 2010 12.43 12.43 2.17
Q1 2011 11.75 11.75 1.96
Q2 2011 10.64 10.64 1.69
Q3 2011 9.25 9.25 1.45
Q4 2011 9.75 9.75 1.49
Q1 2012 11.81 11.81 1.75
Q2 2012 9.27 9.27 1.39
Q3 2012 9.05 9.05 1.30
Q4 2012 9.29 9.29 1.27
Q1 2013 9.22 9.22 1.26

Business Segments (Million)

Compared With The
Period Retail Corporate and Institutional Banking Global markets and Treasury finance and islamic investment Others
Q1 2004 498.94 330.56 - - 57.95
Q2 2004 591.49 267.64 - - -
Q3 2004 672.44 318.41 73.40 - -
Q4 2004 663.58 310.63 94.37 - -
Q1 2005 691.72 368.57 149.75 - -
Q2 2005 892.40 423.63 119.98 - -
Q3 2005 1,030.28 426.95 113.59 - -
Q4 2005 1,131.27 473.17 6.25 - -
Q1 2006 1,216.26 526.33 179.54 - -
Q2 2006 1,191.57 550.98 163.71 - -
Q3 2006 1,163.47 573.69 113.76 - -
Q4 2006 976.20 505.16 112.06 - -
Q1 2007 1,002.35 571.91 262.85 - -
Q2 2007 1,000.91 611.60 275.70 - -
Q3 2007 993.30 636.16 165.00 - -
Q4 2007 59.66 594.52 (62.77) 1,084.86 -
Q1 2008 943.59 810.25 36.12 - -
Q2 2008 640.41 533.35 184.77 519.39 -
Q3 2008 776.81 605.92 112.21 242.43 -
Q4 2008 806.51 487.66 186.01 126.48 -
Q1 2009 724.87 673.94 488.82 100.09 -
Q2 2009 702.41 691.48 285.67 140.14 -
Q3 2009 714.41 719.02 217.86 104.08 -
Q4 2009 676.90 614.25 157.26 98.46 -
Q1 2010 699.10 686.76 353.14 101.91 -
Q2 2010 693.42 650.32 317.30 110.74 -
Q3 2010 650.57 634.04 324.11 120.46 -
Q4 2010 650.62 575.74 227.89 104.38 -
Q1 2011 668.51 629.57 248.03 154.85 -
Q2 2011 674.34 660.62 170.14 129.43 -
Q3 2011 669.84 629.66 307.02 106.69 -
Q4 2011 640.64 576.60 172.49 123.95 -
Q1 2012 597.25 622.34 318.53 258.03 -
Q2 2012 581.73 580.33 339.55 243.04 -
Q3 2012 618.43 616.77 298.52 161.21 -
Q4 2012 565.30 544.43 225.34 123.28 -
Q1 2013 582.76 644.81 465.72 203.68 -


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) -
more

Share Price

Samba Financial Group
38.50
1.70 4.62 %

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