Samba Financial Group reported a net profit of SAR 4.204 billion in 2020, a rise of 5% from SAR 3.991 billion in 2019.
The bank attributed the profit growth to a 9.6% year-on-year (YoY) increase in operating income, driven by gains on FVOCI debt, trading income, income from investments held at FVIS and exchange income, partially offset by decrease in special commission income.
On the other hand, total operating expenses increased by 13.2% YoY, mainly due to higher salaries and employee related expenses, depreciation, other general and administrative expenses and provisions for credit impairment.
Zakat and tax expense also increased in 2020.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 6,376.65 | 5,672.42 | (11.0 %) |
| Operating Income | 8,600.35 | 9,425.10 | 9.6 % |
| Total Provisions | (1103.04) | (1399.84) | (26.9 %) |
| Net Income | 3,984.30 | 4,200.82 | 5.4 % |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 1.99 | 2.10 | 5.4 % |
In Q4 2020, the bank posted a net profit of SAR 744.5 million, a decline of 3% YoY.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,559.40 | 1,341.83 | (14.0 %) |
| Operating Income | 2,038.55 | 2,178.41 | 6.9 % |
| Debt Provisions | (231.14) | (499.99) | (116.3 %) |
| Net Income | 760.14 | 744.41 | (2.1 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 0.38 | 0.37 | (2.1 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,377.18 | 1,341.83 | (2.6 %) |
| Operating Income | 2,456.51 | 2,178.41 | (11.3 %) |
| Debt Provisions | (254.33) | (499.99) | (96.6 %) |
| Net Income | 1,229.90 | 744.41 | (39.5 %) |
| Average Shares | 2,000.00 | 2,000.00 | - |
| EPS (Riyals) | 0.61 | 0.37 | (39.5 %) |
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Assets | 259.53 | 296.95 | 14.4 % |
| Customer Deposits | 180.17 | 207.71 | 15.3 % |
| Loan | 141.60 | 156.02 | 10.2 % |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}