Jul 11 2011 |
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Samba Financial Group announces its second quarter financial results for the period ending 30/6/2011 (six months)
Samba Financial Group announces its second quarter financial results for the period ending on 30/6/2011 as follows:1.The net profit during the second quarter was SAR 1102 million, compared with SAR 1220 million for the corresponding quarter last year, a decrease of 9.7%, and against a net profit of SAR 1123 million for the previous quarter, a decrease of 1.9%.
2.The total operating income during the second quarter was SAR 1635 million, compared with SAR 1772 million for the same quarter last year, a decrease of 7.7%.
3.The net special commission income in the second quarter was SAR 1133 million, compared with SAR 1202 million for the same quarter last year, a decrease of 5.7%.
4.The net income in the six months was SAR 2225 million, compared with SAR 2431 million for the same quarter last year, a decrease of 8.5%.
5.Earnings per share for the six months were SAR 2.47 versus SAR 2.70 for the same period last year.
6.The total operating income for the six months was SAR 3335 million, compared with SAR 3613 million for the same quarter last year, a decrease of 7.7%.
7.The net special commission income for the six months was SAR 2203 million, compared with SAR 2374 million for the same quarter last year, a decrease of 7.2%.
8.Total assets as at 30/06/2011 was SAR 190.6 billion against SAR 188.4 billion for the same period last year, an increase of 1.2%. Total investments as at 30/06/2011 was SAR 70.2 billion against SAR 67.5 billion for the same period last year, an increase of 4%. Loans and advances as at 30/06/2011 amounted to SAR 82.4 billion against SAR 82.7 billion for the same period last year, a decrease of 0.4%. Customer deposits as at 30/06/2011 amounted to SAR 138.8 billion against SAR 136.1 billion for the same period last year, an increase of 2%.
9.The reason of the decrease in the profit during the second quarter is due to reduction in special commissions income.
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