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.
| 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.
| 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 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,562.45 | 1,390.95 | (11.0 %) |
| Operating Income | 2,431.10 | 2,359.08 | (3.0 %) |
| Debt Provisions | (182.64) | (462.89) | (153.4 %) |
| Net Income | 1,273.06 | 953.45 | (25.1 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 0.64 | 0.48 | (25.1 %) |
| 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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