Banque Saudi Fransi announces its Annual Financial Results for the Year Ended on 31-12-2022
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 8,307 | 6,194 | 34.11 | ||
| Net Income from Special Commissions/Financing & Investments | 6,427 | 5,699 | 12.77 | ||
| Total Operation Profit (Loss) | 8,017 | 7,128 | 12.47 | ||
| Net Profit (Loss) before Zakat and Income Tax | 4,004 | 3,837 | 4.35 | ||
| Net Profit (Loss) | 3,575 | 3,450 | 3.62 | ||
| Total Comprehensive Income | 1,256 | 2,490 | -49.56 | ||
| Total Share Holders Equity (excluding Non-Controlling Interest) | 38,745 | 39,686 | -2.37 | ||
| Assets | 232,078 | 215,802 | 7.54 | ||
| Investments | 44,518 | 43,858 | 1.5 | ||
| Loans and Advances Portfolio (Financing & Investment) | 159,012 | 147,813 | 7.58 | ||
| Total Operating Expenses Before Provisions for Credit and Other Losses | 2,654 | 2,447 | 8.46 | ||
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 1,360 | 844 | 61.14 | ||
| Clients' deposits | 157,592 | 141,950 | 11.02 | ||
| Profit (Loss) per Share | 2.79 | 2.7 | |||
| 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 increase in total operating income by 12.47% partially offset by an increase in total operating expenses by 21.97%.
This increase in total operating income was driven by higher net special commission income, exchange income, net as well as trading income, net which was partially offset by decrease in gains on FVOCI / non-trading investments, net.
The increase in total operating expenses was primarily due to higher impairment charge for credit losses, net, salaries and employee related expenses and other operating and general and administrative expenses. |
| 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 for the 3 months period ended 31 December 2022 was SAR 1,044 million compared to SAR 1,059 million for the same period of last year. Net Income before zakat for the 3 months period ended 30 September 2022 was SAR 1,057 million.
EPS for the current and the previous years is calculated by dividing the net income after zakat 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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