Samba Financial Group announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Revenue from Special Commissions/Financing & Investments | 2,156 | 2,132 | 1.125 | 2,105 | 2.422 |
| Net Income from Special Commissions/Financing & Investments | 1,562 | 1,646 | -5.103 | 1,559 | 0.192 |
| Total Operation Profit (Loss) | 2,431 | 2,195 | 10.751 | 2,039 | 19.225 |
| Net Profit (Loss) before Zakat and Income Tax | 1,454 | 1,222 | 18.985 | 988 | 47.165 |
| Net Profit (Loss) | 1,274 | 1,065 | 19.624 | 765 | 66.535 |
| Total Comprehensive Income | 812 | 2,395 | -66.096 | 871 | -6.773 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 44,781 | 42,642 | 5.016 |
| Assets | 267,083 | 231,111 | 15.564 |
| Investments | 91,387 | 75,926 | 20.363 |
| Loans and Advances Portfolio (Financing & Investment) | 147,822 | 115,054 | 28.48 |
| Customer Deposits | 177,710 | 170,167 | 4.432 |
| Profit (Loss) per Share | 0.64 | 0.53 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to Same Quarter Last Year is Attributed to | The Net Income has increased by 19.6% mainly due to increase in Gains on FVOCI debt, Exchange Income and other operating income, partially offset by increase in zakat and taxation expense for the quarter.
On the other hand total operating expenses increased mainly due to increase in Salaries and employee related expenses, depreciation and other general and administrative expenses, offset by decrease in credit impairment provision. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The Net Income has increased by 66.6% mainly due to increase in Gains on FVOCI debt, income from FVIS investments, other operating income and decrease in zakat and taxation expense during the quarter.
On the other hand total operating expenses decreased by 7% mainly due to decrease in rent and premises related expense, depreciation, credit impairment provision and salaries and employee related expenses offset by increase in other general and administrative expenses. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain other prior period balances have also been reclassified to conform to the current period presentation. |
| Additional Information | Starting from the quarter ended 30 June 2019, Zakat and tax are to be accrued on a quarterly basis and recognized in the statement of consolidated income with a corresponding liability recognized in the statement of consolidated financial position in accordance with International Financial Reporting Standard (IFRS) as endorsed in the Kingdom of Saudi Arabia and other standards and pronouncements issued by SOCPA.
The profit per share represents diluted earnings per share which is calculated by dividing the net income after zakat and taxation for the period attributable to the equity holders of the Bank by 2000 million shares. |
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