Saudi Arabia's Banque Saudi Fransi (BSF) reported a 9% rise in Q2-2022 net profit to SAR837 million($223 million), compared with SAR770 million in the prior-year period as total operating income rose.

The effort, however, missed analysts' mean estimate of SAR860 million, according to data provider Refinitiv.

Quarterly total income from special commissions/financing & investments hit SAR1.76 billion versus 1.45 billion in the year ago period. Net special commission income rose 9% to SAR1.44 billion 

Total operating income increased by 8%  primarily due to higher net special commission income and trading income  which was partially offset by reduction in net fee and commission income, the bank said in a statement on Riyadh's Tadawul stock exchange on Wednesday.

Impairment charge for credit losses for the quarter was SAR320 million versus SAR267 million in the previous period.

For H1-2022, the net profit rose 11% to SAR1.71 billion, the lender said.

(Reporting by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@lseg.com