Financial Results : BSF H1 2023 profit up 26% to SAR 2.15 bln; Q2 at SAR 1.07 bln

BSF H1 2023 profit up 26% to SAR 2.15 bln; Q2 at SAR 1.07 bln

25/07/2023 Argaam Exclusive

View other reports

Banque Saudi Fransi (BSF) reported a 26% increase in H1 2023 net profit to SAR 2.15 billion, compared to SAR 1.71 billion in the prior-year period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Net Special Commission Income 2,931.31 3,899.47 33.0 %
Operating Income 3,691.40 4,665.42 26.4 %
Total Provisions (539.71) (912.06) (69.0 %)
Net Income 1,711.59 2,149.76 25.6 %
Average Shares 1,205.36 1,205.36 0.0 %
EPS (Riyals) 1.42 1.78 25.6 %
EPS Diluted (Riyals) 1.33 1.70 27.8 %

The bank attributed the profit growth to an increase of 26.39% in total operating income, which was partially offset by a rise of 27.09% in total operating expenses.

 

The increase in total operating income was mainly driven by higher net special commission income and exchange income, which were partially offset by a reduction in trading income.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Net Special Commission Income 1,516.47 1,975.51 30.3 %
Operating Income 1,870.36 2,347.34 25.5 %
Debt Provisions (294.82) (427.01) (44.8 %)
Net Income 837.02 1,073.35 28.2 %
Average Shares 1,205.36 1,205.36 0.0 %
EPS (Riyals) 0.69 0.89 28.2 %
EPS Diluted (Riyal) 0.65 0.85 30.8 %

The second-quarter net profit leapt 28% to SAR 1.07 billion from SAR 837 million in Q2 2022, thanks to an increase of 25.51% in total operating income, which was partially offset by a 22.50% rise in total operating expenses.

 

Compared with the previous quarter, Q2 2023 net profit fell 0.3% from SAR 1.07 billion.

Balance Sheet (B)

Item 6m 2022 6m 2023 Change‬
Assets 231.27 245.72 6.2 %
Customer Deposits 157.92 161.16 2.1 %
Loan 159.62 169.70 6.3 %

Shareholders’ equity, after minority interest including sukuk, increased to SAR 39.69 billion by the end of H1 2023 from SAR 37.74 billion a year earlier.

 

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.