ISLAMABAD: Samba Bank Ltd has posted 63.9 per cent increase in profits to reach Rs548.9 million in first quarter of current fiscal year as compared to Rs334.9 million it earned during the same period of last year.
Having Rs50.6 billion assets by end-2014, the bank’s earnings-per-share remained Rs0.1, up from Rs0.07. This followed an equally profitable 2014, where the bank’s net earnings had risen by a huge 168pc to Rs226m. This was the second-largest annual increase in profit (in percentage terms) of 20 listed commercial banks last year, according to an analysis by WE Research.
A look at the bank’s annual accounts also shows that it has come to rely mainly on its investment book for the bulk of its core income of Rs4.6 billion for the year. Its net investments had reached almost Rs20 billion, while an overwhelming amount of these – 95pc – was parked in government papers.
