Banque Saudi Fransi posts SAR 3 bln net profit in FY19

05/02/2020 Argaam Exclusive

Banque Saudi Fransi (BSF) posted an over twofold increase year-on-year (YoY) in net profit to SAR 3.1 billion for the fiscal year 2019, driven by a decline in Zakat and income tax provision.

 

Total operating income also increased by 1.09%, buoyed by net special commission income, gain on non-trading investments, along with fee and commission income.



Financials (M)

Item 2018 2019 Change‬
Net Special Commission Income 5,016.87 5,205.68 3.8 %
Operating Income 6,701.33 6,872.55 2.6 %
Total Provisions (910.50) (1008.57) (10.8 %)
Net Income 1,403.02 3,114.97 122.0 %
Average Shares 1,205.36 1,205.36 -
EPS (Riyals) 1.16 2.58 122.0 %
EPS Diluted (Riyals) 1.17 2.60 122.2 %

In Q4 2019, BSF swung to a net profit of SAR 515 million, against a net loss of SAR 1.43 billion in year earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Net Special Commission Income 1,247.18 1,291.30 3.5 %
Operating Income 1,692.64 1,705.72 0.8 %
Debt Provisions (566.73) (437.86) 22.7 %
Net Income (1431.68) 514.51 135.9 %
Average Shares 1,205.36 1,205.36 -
EPS (Riyals) (1.19) 0.43 135.9 %
EPS Diluted (Riyal) 0.93 0.43 (53.8 %)

Balance Sheet (B)

Item 2018 2019 Change‬
Assets 190.25 178.15 (6.4 %)
Customer Deposits 148.37 132.84 (10.5 %)
Loan 120.63 125.73 4.2 %

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Share Price

Banque Saudi Fransi
32.90
(0.20) (0.60 %)

Banque Saudi Fransi (BSF)

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Financial Ratios
Current
Market Cap (M Riyal) 39,657.66
Shares Outstanding ((M)) 1,205.40
EPS ( Riyal) (TTM) 3.53
EPS Diluted ( Riyal) (TTM) 3.35
Book Value (BV) ( Riyal) 31.62
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 9.32
P/E (TTM) 9.32
Price/book 1.04
Return on Average Assets (%) (TTM) 1.6
Return on Average Equity (%) (TTM) 11.8
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