Financial Results : Samba’s net profit jumps 30% in FY19

Samba’s net profit jumps 30% in FY19

02/02/2020 Argaam Exclusive

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Samba Financial Group reported a net profit after zakat and tax of SAR 3.9 billion for the fiscal year 2019, a rise of 30.4% year-on-year (YoY), buoyed by lower zakat expenses.

 

In addition, total operating income increased by 5.4%, due to higher net special commission income, exchange income, trading income, and income from investment held at fair value through income statement (FVIS).



Financials (M)

Item 2018 2019 Change‬
Net Special Commission Income 6,151.89 6,376.65 3.7 %
Operating Income 8,156.52 8,600.35 5.4 %
Total Provisions (155.52) (1103.04) (609.3 %)
Net Income 3,051.09 3,984.30 30.6 %
Average Shares 2,000.00 2,000.00 -
EPS (Riyals) 1.53 1.99 30.6 %

In Q4 2019, Samba posted a net profit after zakat and tax of SAR 766.8 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Net Special Commission Income 1,588.33 1,559.40 (1.8 %)
Operating Income 2,028.26 2,038.55 0.5 %
Debt Provisions (20.82) (231.14) (1,010.0 %)
Net Income (586.99) 760.14 229.5 %
Average Shares 2,000.00 2,000.00 -
EPS (Riyals) (0.29) 0.38 229.5 %

Balance Sheet (B)

Item 2018 2019 Change‬
Assets 229.94 259.53 12.9 %
Customer Deposits 170.17 180.17 5.9 %
Loan 113.71 141.60 24.5 %

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