Banque Saudi Fransi (BSF) reported a net profit of SAR 780 million for the first quarter of 2020, a 14% rise from SAR 682 million a year earlier.
The profit rise was primarily attributed to a 6.93% year-on-year (YoY) decrease in operating expenses, and 2.22% YoY growth in total operating income, driven by higher trading income, as well as net fee and commission income.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,287.24 | 1,287.32 | 0.0 % |
| Operating Income | 1,756.94 | 1,795.51 | 2.2 % |
| Debt Provisions | (397.57) | (290.08) | 27.0 % |
| Net Income | 682.08 | 779.68 | 14.3 % |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 0.57 | 0.65 | 14.3 % |
| EPS Diluted (Riyal) | 0.57 | 0.62 | 8.8 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,281.29 | 1,287.32 | 0.5 % |
| Operating Income | 1,776.88 | 1,795.51 | 1.0 % |
| Debt Provisions | (853.99) | (290.08) | 66.0 % |
| Net Income | 93.95 | 779.68 | 729.9 % |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 0.08 | 0.65 | 729.9 % |
| EPS Diluted (Riyal) | 0.03 | 0.62 | 1966.7 % |
When compared to Q4 2020, BSF’s net profit surged eight times from SAR 94 million.
Total shareholders’ equity, excluding minority interest, rose by 15.5% YoY to SAR 39.198 billion in Q1 2021.
| Item | 3m 2020 | 3m 2021 | Change |
|---|---|---|---|
| Assets | 199.18 | 202.23 | 1.5 % |
| Customer Deposits | 146.77 | 132.99 | (9.4 %) |
| Loan | 134.88 | 134.10 | (0.6 %) |
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