Banque Saudi Fransi (BSF) posted a drop of 26% year-on-year (YoY) in net profit to SAR 682 million for Q1 2020, compared to SAR 917 million a year earlier.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,272.94 | 1,287.24 | 1.1 % |
| Operating Income | 1,722.68 | 1,756.94 | 2.0 % |
| Debt Provisions | (144.17) | (397.57) | (175.8 %) |
| Net Income | 916.83 | 682.08 | (25.6 %) |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 0.76 | 0.57 | (25.6 %) |
| EPS Diluted (Riyal) | 0.76 | 0.57 | (25.0 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,291.30 | 1,287.24 | (0.3 %) |
| Operating Income | 1,705.72 | 1,756.94 | 3.0 % |
| Debt Provisions | (437.86) | (397.57) | 9.2 % |
| Net Income | 514.51 | 682.08 | 32.6 % |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 0.43 | 0.57 | 32.6 % |
| EPS Diluted (Riyal) | 0.43 | 0.57 | 32.6 % |
The decline was attributed to a 60.39% increase in operating expenses, higher impairment charge for credit losses, salaries and employee related expenses as well as other operating and general and administrative expenses.
When compared to Q4 2019, net profit jumped 32.4% from SAR 515 million, thanks to a 15.6% drop in operating expenses.
| Item | 3m 2019 | 3m 2020 | Change |
|---|---|---|---|
| Assets | 190.04 | 199.18 | 4.8 % |
| Customer Deposits | 144.82 | 146.77 | 1.3 % |
| Loan | 121.27 | 134.88 | 11.2 % |
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