Banque Saudi Fransi (BSF) reported a net profit of SAR 2.457 billion for the first nine months of 2021, a 69% increase compared to a net profit of SAR 1.452 billion in the same period last year.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 3,959.10 | 4,041.35 | 2.1 % |
| Operating Income | 5,267.72 | 5,463.15 | 3.7 % |
| Total Provisions | (1962.33) | (853.39) | 56.5 % |
| Net Income | 1,452.26 | 2,456.61 | 69.2 % |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 1.20 | 2.04 | 69.2 % |
| EPS Diluted (Riyals) | 1.21 | 1.92 | 58.7 % |
The bank attributed the increase in net profit to a reduction in gross operating expenses driven by lower impairment charge for credit losses.
During the period, gross operating income increased on higher net fee and commission income, net special commission income as well as trading income.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,375.04 | 1,423.60 | 3.5 % |
| Operating Income | 1,750.75 | 1,913.97 | 9.3 % |
| Debt Provisions | (930.45) | (296.34) | 68.2 % |
| Net Income | 333.39 | 907.25 | 172.1 % |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 0.28 | 0.75 | 172.1 % |
| EPS Diluted (Riyal) | 0.28 | 0.71 | 153.6 % |
The bank reported a net profit of SAR 907 million for Q3 2021, a 172.1% year-on-year (YoY) increase.
On a sequential basis, net profit grew 17.8% from SAR 769.68 million.
Shareholders’ equity, after minority interest, increased to SAR 39.242 billion as of Sept. 30, 2021, from SAR 33.683 billion a year earlier.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Assets | 197.44 | 213.34 | 8.1 % |
| Customer Deposits | 135.65 | 143.32 | 5.7 % |
| Loan | 134.36 | 144.39 | 7.5 % |
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