Banque Saudi Fransi profit drops 26% to SAR 682 mln in Q1 2020

14/05/2020 Argaam Exclusive

Banque Saudi Fransi (BSF) posted a drop of 26% year-on-year (YoY) in net profit to SAR 682 million for Q1 2020, compared to SAR 917 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Net Special Commission Income 1,272.94 1,287.24 1.1 %
Operating Income 1,722.68 1,756.94 2.0 %
Debt Provisions (144.17) (397.57) (175.8 %)
Net Income 916.83 682.08 (25.6 %)
Average Shares 1,205.36 1,205.36 -
EPS (Riyals) 0.76 0.57 (25.6 %)
EPS Diluted (Riyal) 0.76 0.57 (25.0 %)

The decline was attributed to a 60.39% increase in operating expenses, higher impairment charge for credit losses, salaries and employee related expenses as well as other operating and general and administrative expenses.

 

When compared to Q4 2019, net profit jumped 32.4% from SAR 515 million, thanks to a 15.6% drop in operating expenses.

Balance Sheet (B)

Item 3m 2019 3m 2020 Change‬
Assets 190.04 199.18 4.8 %
Customer Deposits 144.82 146.77 1.3 %
Loan 121.27 134.88 11.2 %

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Share Price

Banque Saudi Fransi
31.20
0.00 0.00 %

Banque Saudi Fransi (BSF)

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Financial Ratios
Current
Market Cap (M Riyal) 37,608.48
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) 8.84
P/E (TTM) 8.84
Price/book 0.99
Return on Average Assets (%) (TTM) 1.6
Return on Average Equity (%) (TTM) 11.8
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