Samba Financial Group announces its Interim Financial Results for the Period Ending on 2020-06-30 ( Six Months )

05 August 2020 03:46 PM

SAMBA 1090 4.62% 38.50 1.70

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total Revenue from Special Commissions/Financing & Investments	1,816	2,088	-13.026	2,156	-15.769
Net Income from Special Commissions/Financing & Investments	1,391	1,608	-13.495	1,562	-10.947
Total Operation Profit (Loss)	2,359	2,171	8.659	2,431	-2.961
Net Profit (Loss) before Zakat and Income Tax	1,159	1,043	11.121	1,454	-20.288
Net Profit (Loss)	955	935	2.139	1,274	-25.039
Total Comprehensive Income	1,469	1,822	-19.374	812	80.911
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Revenue from Special Commissions/Financing & Investments	3,972	4,220	-5.876
Net Income from Special Commissions/Financing & Investments	2,953	3,253	-9.222
Total Operation Profit (Loss)	4,790	4,367	9.686
Net Profit (Loss) before Zakat and Income Tax	2,612	2,264	15.371
Net Profit (Loss)	2,229	2,000	11.45
Total Comprehensive Income	2,282	4,217	-45.885
Total Share Holders Equity (after Deducting Minority Equity)	46,284	44,486	4.041
Assets	279,261	235,552	18.555
Investments	93,193	79,250	17.593
Loans and Advances Portfolio (Financing & Investment)	148,088	115,062	28.702
Customer Deposits	187,259	168,306	11.261
Profit (Loss) per Share	1.11	1
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 2.1% mainly due to increase in operating income by 8.6% which increased due to increase in gains on FVOCI debt, exchange income and Fee and commission income, partially offset by decrease in income from FVIS investments. On the other hand total operating expenses increased by 6.3% mainly due to increase in salaries and employee related expenses, rent and premises related expenses and other general and administrative expenses. Zakat and tax expense also increased for the current quarter. "
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	"The net income has decreased by 25% mainly due to decrease in special commission income by 11% and lower operating income by 3% which reduced due to reduction in income from FVIS investments, partially offset by increase in exchange income and Fee and commission income, and gains on FVOCI debt. On the other hand total operating expenses increased due to increase in rent and premises related expense and credit impairment provision."
Increase (Decrease) in Net Profit for Current Period Compared to the Same Period Last Year is Attributed to	"The net income has increased by 11.4% mainly due to increase in operating income by 9.7% which increased due to increase in gains on FVOCI debt, exchange income, trading income and Fee and commission income. On the other hand total operating expenses increased mainly due to increase in salaries and employee related expenses, rent and premises related expenses and other general and administrative expenses. Zakat and tax expense also increased for the period. "
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	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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