Jan 16 2012 |
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Banque Saudi Fransi announces its annual financial results for the period ended on 31/12/2011 (Twelve Months)
Banque Saudi Fransi announces its annual financial results for the period ended on 31/12/2011 as follows:1.Net income for Q4 2011 amounted to SR 661 Million, compared to SR 709 Million for the same quarter last year with a decrease of 6.8% and compared to Q3 2011 net income of SR 760 Million with a decrease of 13%.
2.Total Operating Income for Q4 2011 amounted to SR 1,108 Million compared to SR 1,084 Million for the same quarter last year with an increase of 2.2%.
3.Net Special commission income for Q4 2011 amounted to SR 783 Million compared to SR 789 Million for the same quarter last year with a decrease of 0.8%.
4.Net income during 12 months amounted to SR 2,911 Million against SR 2,801 Million for the same period last year with an increase of 3.9%.
5.Earnings per Share during 12 months amounted to SR 4.03 against SR 3.87 for the corresponding period of the previous year.
6.Total operating income during 12 months amounted to SR 4,585 Million compared to SR 4,395 Million for the same period last year with an increase of 4.3%.
7.Net special commission income during 12 months amounted to SR 3,137 Million compared to SR 3,066 Million for the same period last year with an increase of 2.3%.
8.Assets as of year ended December 31, 2011 amounted to SR 140.4 Billion against SR 123.2 Billion for the previous year with an increase of 14%. Investments as of year ended December 31, 2011 amounted to SR 16.8 Billion against SR 20 Billion for the previous year with a decrease of 16%. Loan and Advances Portfolio as of year ended December 31, 2011 amounted to SR 92.3 Billion against SR 81 Billion for the previous year with an increase of 14%. Customers Deposits as of year ended December 31, 2011 amounted to SR 110 Billion against SR 93.5 Billion for the previous year with an increase of 17.6%.
9.The reason for the decrease in net income for the 4th Quarter 2011 compared to the 4th Quarter of the previous year and against the 3rd Quarter 2011 is the higher operating expenses whereas the reason for the increase in net income for the twelve months ended on 31 December 2011 compared to the corresponding period of 2010 is the increase in operating income.
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