Banque Saudi Fransi (BSF) has announced a robust net profit continuing on the positive momentum recorded in 2016 and the first half of 2017. It recorded a net profit of SR3,109 million at the end of the third quarter of 2017, compared to SR3,136 million for the same period last year, representing a decrease of 0.86 percent.
Profits of the third quarter of 2017 reached SR1,001 million, a decrease of 0.89 percent compared to the same quarter of the previous year.
The total operating income for the first nine months of 2017 increased to SR4,957 million, compared to SR4,845 million for the same period last year, an increase of 2.31 percent. The operating income for the third quarter of 2017 amounted to SR1,630 million, an increase of 2.64 percent compared to the same quarter last year.
The net special commission income for the first nine months of 2017 increased to SR3,486 million, compared to SR3,239 million for the same period last year, an increase of 7.63 pecent. The special commission income during the third quarter of 2017 amounted to SR1,207 million, compared to SR1,108 million for the same quarter of the previous year, an increase of 8.94 percent.
The loan and advances portfolio reached SR128,948 million, a decrease of 3.72 percent over the same period last year.
Customer deposits reached SR155,472 million for the nine months of 2017, compared to SR147,277 million for the same period of the previous year, an increase of 5.56 percent.
As a result, the earnings per share for the nine-month period of 2017 amounted to SR2.59 against SR2.6 for the same period in 2016.
In a statement released by BSF, the bank said: “Banque Saudi Fransi achieved strong financial results for the third quarter of 2017 as the management continued to push the bank’s ambitious plans to develop products and services with high-quality standards. The bank continues to play an important role in financing operations to its corporate and individual clients so that they can support all their national economic initiatives.
Banque Saudi Fransi is working on solid foundations based on its experience over the past years. The bank is committed to implementing a balanced risk strategy and enhancing prudential ratios, which is a strong base for improving performances and supporting the national economy during the ambitious national transition plan.”
Profits of the third quarter of 2017 reached SR1,001 million, a decrease of 0.89 percent compared to the same quarter of the previous year.
The total operating income for the first nine months of 2017 increased to SR4,957 million, compared to SR4,845 million for the same period last year, an increase of 2.31 percent. The operating income for the third quarter of 2017 amounted to SR1,630 million, an increase of 2.64 percent compared to the same quarter last year.
The net special commission income for the first nine months of 2017 increased to SR3,486 million, compared to SR3,239 million for the same period last year, an increase of 7.63 pecent. The special commission income during the third quarter of 2017 amounted to SR1,207 million, compared to SR1,108 million for the same quarter of the previous year, an increase of 8.94 percent.
The loan and advances portfolio reached SR128,948 million, a decrease of 3.72 percent over the same period last year.
Customer deposits reached SR155,472 million for the nine months of 2017, compared to SR147,277 million for the same period of the previous year, an increase of 5.56 percent.
As a result, the earnings per share for the nine-month period of 2017 amounted to SR2.59 against SR2.6 for the same period in 2016.
In a statement released by BSF, the bank said: “Banque Saudi Fransi achieved strong financial results for the third quarter of 2017 as the management continued to push the bank’s ambitious plans to develop products and services with high-quality standards. The bank continues to play an important role in financing operations to its corporate and individual clients so that they can support all their national economic initiatives.
Banque Saudi Fransi is working on solid foundations based on its experience over the past years. The bank is committed to implementing a balanced risk strategy and enhancing prudential ratios, which is a strong base for improving performances and supporting the national economy during the ambitious national transition plan.”
