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Banque Saudi Fransi profits halve in 2020

Banque Saudi Fransi profits halve in 2020
The bank's assets rose by 8.9% yearly in 2020 to SAR 194.1 billion.
BSFR
1050
-0.69% 35.95 -0.25

Riyadh – Mubasher: Banque Saudi Fransi’s (BSF) net profit for 2020 plunged by 50.4% to reach SAR 1.55 billion from SAR 3.12 billion a year earlier.

The drop in the annual earnings was ascribed to higher total operating expenses by 54.74%, despite the rise in total operating income by 2.5%, according to a stock exchange filing on Monday.

Total comprehensive income stood at SAR 1.9 billion last year, an annual decline of 54.7%, while assets rose by 8.9% yearly to SAR 194.1 billion.