Banque Saudi Fransi announces its Interim Financial Results for the Period Ending on 30-06-2023 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 3,226 | 1,835 | 75.8 | 2,997 | 7.64 |
| Net Income from Special Commissions/Financing & Investments | 1,976 | 1,516 | 30.34 | 1,924 | 2.7 |
| Total Operation Profit (Loss) | 2,347 | 1,870 | 25.51 | 2,318 | 1.25 |
| Net Profit (Loss) before Zakat and Income Tax | 1,193 | 928 | 28.56 | 1,200 | -0.58 |
| Net Profit (Loss) | 1,073 | 837 | 28.2 | 1,076 | -0.28 |
| Total Comprehensive Income | 913 | 298 | 206.38 | 1,254 | -27.19 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 431 | 294 | 46.6 | 406 | 6.16 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 724 | 648 | 11.73 | 712 | 1.69 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 6,223 | 3,399 | 83.08 |
| Net Income from Special Commissions/Financing & Investments | 3,899 | 2,931 | 33.03 |
| Total Operation Profit (Loss) | 4,665 | 3,691 | 26.39 |
| Net Profit (Loss) before Zakat and Income Tax | 2,393 | 1,903 | 25.75 |
| Net Profit (Loss) | 2,150 | 1,712 | 25.58 |
| Total Comprehensive Income | 2,168 | 89 | 2,335.95 |
| Total Share Holders Equity (excluding Non-Controlling Interest) | 39,696 | 37,742 | 5.18 |
| Assets | 245,718 | 231,267 | 6.25 |
| Investments | 49,178 | 43,505 | 13.04 |
| Loans and Advances Portfolio (Financing & Investment) | 169,695 | 159,625 | 6.31 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 837 | 536 | 56.16 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 1,436 | 1,253 | 14.6 |
| Clients' deposits | 161,165 | 157,919 | 2.06 |
| Profit (Loss) per Share | 1.7 | 1.33 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net income increased mainly due to increase in total operating income by 25.51% partially offset by an increase in total operating expenses by 22.50%.
This increase in total operating income was mainly driven by higher net special commission income and trading income, net.
The increase in total operating expenses was primarily due to higher impairment charge for expected credit losses on loans and advances, net, salaries and employee related expenses and other operating and general and administrative expenses. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net income decreased mainly due to increase in total operating expenses by 3.24% while total operating income increased by 1.25%.
The increase in total operating expenses was primarily due to impairment charge for other financial assets, net and other operating and general and administrative expenses while there was a decrease in impairment charge for expected credit losses on loans and advances, net and salaries and employee related expenses.
This increase in total operating income was driven by higher net special commission income and trading income, net which was partially offset by reduction in net fee and commission income and exchange income, net. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net income increased mainly due to increase in total operating income by 26.39% partially offset by an increase in total operating expenses by 27.09%.
This increase in total operating income was mainly driven by higher net special commission income and exchange income, net which was partially offset by reduction in trading income, net.
The increase in total operating expenses was primarily due to higher impairment charge for expected credit losses on loans and advances, net, salaries and employee related expenses and other operating and general and administrative expenses which was partially offset by reversal of impairment charge for other financial assets, net . |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | Certain prior period numbers have been re-classified to conform to the current period presentation. |
| Additional Information | EPS for the current and the previous periods is calculated by dividing the net income after zakat for the period (adjusted for Tier 1 Sukuk costs) by the weighted average number of shares outstanding after excluding treasury shares.
The Tier 1 Sukuk amounting to SAR 5 billion is included as part of Total Equity. |
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