Samba Bank Reported a Profit of Rs. 236 Million – But still a Long Way to Go

By Ali Ahmad · Thursday, Mar 1, 2012 1 Comment

Samba Bank Limited, formerly Crescent Commercial Bank Limited is a majority owned subsidiary of Samba Financial Group of Saudi Arabia, reported a profit of Rs. 236 Million after tax for year 2011.

Samba, which has NOT been marketing very aggressively to compete and survive in Pakistan’s banking industry shows signs of improvement this year with almost 50% growth in revenue which now stood at Rs. 3.3 Billion, up from Rs. 2.3 Billion last year.

With its small network of 28 branches, company manages to increase its operating income by 40% to Rs. 1.4 Billion. Other income falls sharply by 50% due to low profits from dealing in foreign currencies.

Samba has currently Rs. 3.8 Billion of accumulated losses in its books, which though decreasing, but posing a serious threat to its share price.

One Comment

KSEC Launches Online Bill Payment Service - Economy Age says:

March 3, 2012 at 10:16 AM

[...] payment network include Allied Bank, Burj Bank, Bank Al Habib, Citibank, HBL, KASB Bank, MCB Bank, Standard Chartered bank, Summit Bank, Samba Bank, Soneri Bank and [...]

Reply