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 %

Item	Q3 2019	Q4 2019	Change‬
Net Special Commission Income	1,563.75	1,559.40	(0.3 %)
Operating Income	2,195.24	2,038.55	(7.1 %)
Debt Provisions	(90.17)	(231.14)	(156.3 %)
Net Income	1,225.24	760.14	(38.0 %)
Average Shares	2,000.00	2,000.00	-
EPS (Riyals)	0.61	0.38	(38.0 %)

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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