Banque Saudi Fransi announces its Annual Financial Results for the Period Ending on 31-12-2021
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Total income from Special Commissions/Financing & Investments | 5,869 | 6,285 | -6.618 | ||
| Net Income from Special Commissions/Financing & Investments | 5,373 | 5,240 | 2.538 | ||
| Total Operation Profit (Loss) | 7,188 | 7,045 | 2.029 | ||
| Net Profit (Loss) before Zakat and Income Tax | 3,837 | 2,010 | 90.895 | ||
| Net Profit (Loss) | 3,450 | 1,546 | 123.156 | ||
| Total Comprehensive Income | 2,490 | 1,922 | 29.552 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 39,686 | 38,636 | 2.717 | ||
| Assets | 215,802 | 194,074 | 11.195 | ||
| Investments | 43,858 | 37,679 | 16.399 | ||
| Loans and Advances Portfolio (Financing & Investment) | 147,813 | 130,565 | 13.21 | ||
| Clients' deposits | 141,950 | 127,112 | 11.673 | ||
| Profit (Loss) per Share | 2.7 | 1.24 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net income increased mainly due to reduction in Total Operating Expenses by 33.4% and also due to increase in Total Operating Income by 2.0%.
This decrease in Total Operating Expenses was primarily due to lower Impairment charge for credit losses which was partially offset by increase in Other Operating and General and Administrative Expenses.
The increase in Total operating Income was mainly driven by higher Net special commission income and Net Fee and Commission Income which was partially offset by reduction in Other Operating Income and Exchange Income. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Reclassification of Comparison Items | Certain prior period numbers have been re-classified to conform to the current period presentation. |
| Additional Information | Net Income before zakat and income tax for the 3 months period ended 31 December 2021 was SAR 1,059 million compared to SAR 233 million for the same period of last year. Net Income before zakat and income tax for the 3 months period ended 30 September 2021 was SAR 1,017 million.
Impairment charge for credit losses for the year ended 31 December 2021 was SAR 1,021 million, as compared to SAR 2,816 million in the corresponding period of last year.
Impairment charge for credit losses for the three months period ended 31 December 2021 was SAR 168 million, as compared to SAR 854 million in the corresponding period of last year and compared to SAR 296 million for the three months period ended 30 September 2021.
Zakat and income tax provision for the three months period ended 31 December 2021 was SAR 66 million as compared to SAR 139 million in corresponding period of last year and compared to SAR 110 million for the three months period ended 30 September 2021.
EPS for the current and the previous years are calculated by dividing the net income after zakat and income tax for the year (adjusted for Tier 1 Sukuk costs) by the weighted average number of shares outstanding after excluding treasury shares. |
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