Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Wednesday reported a 0.4% year-on-year profit rise during the third quarter of 2018, reaching SAR 1.005 billion, compared to SAR 1.001 billion.

BSF attributed the slight growth of third-quarter profits to a 4.05% increase in operating income, according to a statement to the Saudi Stock Exchange (Tadawul).

The bank’s total revenues for special commissions and investments rose 4% to SAR 1.78 billion by the end of Q3-18, from SAR 1.71 billion in the year-ago period.

The Saudi lender’s net income for special commissions and investments went up 4.4% to SAR 1.26 billion from July to September, compared to SAR 1.20 billion in the same three months of 2017.

Quarter-on-quarter, profits levelled up 9.12% during the three-month period ended September, from SAR 921 million.

During the first nine months of 2018, BSF’s net profits fell 2.28% to SAR 3.04 billion, from SAR 3.1 billion in the corresponding nine months of 2017.

The Tadawul-listed bank ascribed the nine-month profit decrease to an 11.73% increase in total operating expenses.

Total revenues for special commissions and investments increased 2% to SAR 5.11 billion from January to September, compared to SAR 5.01 billion in the same period last year.

Net income for special commissions and investments went up 8.1% year-on-year to SAR 3.77 billion by the end of September, from SAR 3.48 billion.

Earnings per share (EPS) decreased to SAR 2.53, from SAR 2.59.

BSF’s stock tumbled 8.57% to close Tuesday’s trading session at SAR 32.