Banque Saudi Fransi announces the interim financial results for the period ending on 30-06-2017 (Six Months)

24 July 2017 09:28 AM

BSFR 1050.B 0.00% 0.00 0.00

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	1,005	1,048	-4.1	1,104	-8.97
Total profit (loss) operation income Investments	1,630	1,613	1.05	1,697	-3.95
Net profit (loss) special commission income Investments	1,167	1,069	9.17	1,112	4.95
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	2,109	2,126	-0.8
Total profit (loss) operation income Investments	3,327	3,258	2.12
Net profit (loss) special commission income Investments	2,279	2,132	6.89
Earning or loss per share, Riyals	1.76	1.76	-
Total Assets	205,344	193,912	5.9
Investments	25,441	23,889	6.5
Loans and advances portfolio	129,383	129,637	-0.2
Customer deposit	163,904	138,810	18.08
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Net Income decreased due to higher Total Operating Expenses by 10.9%. This increase in Total Operating Expenses was primarily due to higher Impairment charge for Credit Losses, Employee Related Expenses, Rent & Premises Related Expenses, Depreciation, Impairment charge for Investments as well as Other Operating Expenses. Meanwhile, Total Operating Income increased by 1.1%. The increase in Total Operating Income was primarily due to higher Net Special Commission Income, Trading Income and Gains on Non-Trading Investments which was partially offset by a reduction in Fee Income, Exchange Income, Dividend Income and Other Operating Income.
Reasons of increase (decrease) for period compared with same period last year	Net Income decreased slightly due to higher Total Operating Expenses by 7.6%. This increase in Total Operating Expenses was primarily due to higher Impairment charge for Credit Losses, Employee Related Expenses, Rent & Premises Related Expenses, Depreciation, Impairment charge for Investments as well as Other Operating Expenses. Meanwhile, Total Operating Income increased by 2.1%. This increase in Total Operating Income was primarily due to higher Net Special Commission Income, Trading Income and Gains on Non Trading Investments which was partially offset by decrease in Fee Income, Exchange Income as well as Other Operating Income.
Reason of increase (decrease) for quarter compared with the previous quarter	Net Income declined due to lower Total Operating Income by 3.9%. This decrease was mainly due to lower Fee Income, Exchange Income and Trading Income which was partially offset by increase in Net Special Commission Income, Dividend Income and Gains on Non-Trading Investments. Meanwhile, Total Operating Expenses increased by 5.75%, which was primarily due to higher Impairment Charges for Credit Losses, Rent & Premises Expenses, Depreciation, Impairment Charges for Investments and Other Operating Expenses which was partially offset by decrease in Employees Related Expenses and Other General & Administrative Expenses.
Reclassifications in quarterly financial results	Certain prior period numbers have been restated to conform to the current period presentation.
Other notes	Gross Special Commission Income increased by 16.9% to SAR 1,675 million during second quarter of 2017, compared to SAR 1,433 million for the same quarter in 2016. Gross Special Commission Income increased by 17.8% to SAR 3,298 million for the six months of 2017, compared to SAR 2,800 million for the same period of the last year. Total comprehensive income for the three months period ended 30 June 2017 was SAR 1,505 million as compared to SAR 320 million in corresponding period of last year, an increase of 370.3% and compared to 1,329 million in the previous quarter with an increase 13.2%. Total comprehensive income for the six months period ended 30 June 2017 was SAR 2,834 million as compared to SAR 1,885 million in last year, an increase of 50.3%. Total Shareholders Equity (there are no minority rights) reached SAR 31.6 billion as of 30 June 2017 compared to SAR 28.6 billion as of 30 June 2016, an increase of 10.5%.

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