Publication Date:
Sun, 2003-07-13 03:00
RIYADH, 13 July 2003 — Banque Saudi Fransi reported a 15.6 percent rise in profits for the first six months of 2003 compared to the corresponding period last year, the bank said in a statement yesterday.
The bank posted SR587.4 million ($156.6 million) on June 30 this year compared to SR507.7 million ($135.4 million) in the first six months of last year, the statement said.
Total assets of the bank on June 30 increased by 10.9 percent to $13.25 billion from $11.95 billion in the same period last year.
Chairman of the bank Ibrahim Al-Touk attributed the rise in profits to an improvement of the bank’s performance and to an increase in customer deposits which topped $10 billion.
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