Banque Saudi Fransi (BSF) reported a net profit of SAR 1.546 billion for 2020, a 50% drop from SAR 3.115 billion a year earlier.
The profit slump was mainly attributed to a 54.7% year-on-year (YoY) increase in operating expenses, higher impairment charges for credit losses and as well as salaries and employee-related expenses, which were partially offset by impairment reversal of investments, financial assets and others.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 5,205.68 | 5,240.39 | 0.7 % |
| Operating Income | 6,872.55 | 7,044.59 | 2.5 % |
| Total Provisions | (1008.57) | (2816.32) | (179.2 %) |
| Net Income | 3,114.97 | 1,546.21 | (50.4 %) |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 2.58 | 1.28 | (50.4 %) |
| EPS Diluted (Riyals) | 2.60 | 1.24 | (52.3 %) |
In Q4 2020, BSF’s net profit fell 82% YoY to SAR 93.7 million.
Total shareholders’ equity, excluding minority interest, rose by 17.3% YoY to SAR 38.636 billion in 2020.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,291.30 | 1,281.29 | (0.8 %) |
| Operating Income | 1,705.72 | 1,776.88 | 4.2 % |
| Debt Provisions | (437.86) | (853.99) | (95.0 %) |
| Net Income | 514.51 | 93.95 | (81.7 %) |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 0.43 | 0.08 | (81.7 %) |
| EPS Diluted (Riyal) | 0.43 | 0.03 | (93.0 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,375.04 | 1,281.29 | (6.8 %) |
| Operating Income | 1,750.75 | 1,776.88 | 1.5 % |
| Debt Provisions | (930.45) | (853.99) | 8.2 % |
| Net Income | 333.39 | 93.95 | (71.8 %) |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 0.28 | 0.08 | (71.8 %) |
| EPS Diluted (Riyal) | 0.28 | 0.03 | (89.3 %) |
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Assets | 178.15 | 194.07 | 8.9 % |
| Customer Deposits | 132.84 | 127.11 | (4.3 %) |
| Loan | 125.73 | 130.56 | 3.8 % |
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