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Banque Saudi Fransi achieves 172% higher profits in Q3

Banque Saudi Fransi achieves 172% higher profits in Q3
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BSFR
1050
-0.82% 48.60 -0.40

Riyadh – Mubasher: Banque Saudi Fransi recorded a year-on-year (YoY) surge of 172% in net profits to SAR 907 million during the third quarter (Q3) of 2021 from SAR 333 million.

On a quarterly basis, the net profits in the July-September 2021 period were 17.7% higher than SAR 770 million in Q2-21, according to the initial financial results on Wednesday.

As for the first nine months of 2021, the bank posted a YoY growth of 69% in net profits to SAR 2.45 billion from SAR 1.45 billion.

Earnings per share went up to SAR 1.92 at the end of September 2021 from SAR 1.21 in the same period last year.

Assets increased by 8% annually to SAR 213.33 billion in the January-September 2021 period from SAR 197.44 billion.

Clients’ deposits also rose by 5.6% YoY to SAR 143.32 billion in the nine-month period this year from SAR 135.65 billion.