Banque Saudi Fransi posts annual increase of 38.4% in net profits in H1

The lender’s assets grew by 4.6%

  
A man withdraws money from an automated teller machine (ATM) outside Banque Saudi Fransi in Riyadh, Saudi Arabia, November 8, 2017. Image used for illustrative purpose.

A man withdraws money from an automated teller machine (ATM) outside Banque Saudi Fransi in Riyadh, Saudi Arabia, November 8, 2017. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser
Riyadh – Mubasher: Banque Saudi Fransi posted an annual increase of 38.4% in net profits after Zakat and tax to SAR 1.54 billion in the first half (H1) of 2021 from SAR 1.11 billion in H1-20.

Earnings per share amounted to SAR 1.21 in H1-21, up from SAR 0.93 in H1-20, according to a bourse disclosure on Sunday.

The lender’s assets grew by 4.6% to SAR 211.31 billion in the January-June 2021 period from SAR 201.95 billion in the prior-year period.

Clients’ deposits rose by 1.9% to SAR 140.8 billion in H1-21 from SAR 138.04 billion in H1-20.

Total operating profits went up 0.9% to SAR 3.54 billion in the first three months of 2021 from SAR 3.51 billion in the same period last year.

During the second quarter (Q2) of 2021, net profits soared 76% to SAR 770 million from SAR 437 million in Q2-20.

Total operating profits meanwhile went down 0.34% to SAR 1.75 billion in Q2-21 from SAR 1.76 in Q2-20.

Quarter-on-quarter, the net profits in Q2-21 were 1.28% lower than SAR 780 million in Q1-20. The total operating profit also declined 2.3% from SAR 1.79 billion.

Banque Saudi Fransi earlier announced cash dividends worth SAR 779.97 million for H1-21.

Source: Mubasher

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