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.
- Corporate Results: Sanofi Aventis Posted a Profit of Rs. 230 Million
- Change of Sole: Bata Pakistan made Rs 17 Crore in first Quarter of 2012
- Passion Reborn: Bank of Punjab Jumped to 163 Crore from 34 Crore
- MCB Bank Rocked the first Quarter of 2013 with 867 Crore
- NIT introduces ATM card for its unit holders