Banque Saudi Fransi announces its interim results for the period ended March 31, 2012 (Three months).
Banque Saudi Fransi announces its consolidated interim results for the period ended March 31, 2012 as per the following.
1- Net income for Q1 2012 amounted to SR 789 Million, an increase of 10% compared to SR 717 Million for Q.1 2011 and an increase of 19.4% compared to SR 661 Million for Q.4 2011.
2- Total Operating Income for Q1 2012 amounted to SR 1,220 Million compared to SR 1,150 Million for the same quarter last year with an increase of 6.1%.
3- Net Special commission income for Q1 2012 amounted to SR 802 Million compared to SR 757 Million for the same quarter last year with an increase of 5.9%.
4- Earnings per Share for the first quarter of 2012 amounted to SR 0.87 against SR 0.79 for the corresponding period of the previous year. Earnings per share for the 3 months period ended 31/03/2011 of SR 0.79 was recalculated to reflect the increase in the Bank’s share capital from 723.2 million shares to 904 million shares which was approved in the extraordinary General Assembly meeting In April 07,2012.
5- Total Assets increased by 18.1% to SR 150 Billion as at March 31, 2012 compared to SR 127 Billion at the end of the first quarter of 2011. Investments amounted to SR 20 Billion as at March 31, 2012 compared to SR 19.5 Billion for the corresponding period of the previous year, showing an increase of 2.6%. Loans and Advances Portfolio as at March 31, 2012 rose to SR 97 Billion from SR 84 Billion as at March 31, 2011, an increase of 15.5 %. Customers Deposits as at March 31, 2012 were SR 113 Billion, representing growth of 17.7% compared to SR 96 Billion at the same point last year.
The increase in the net income for Q1 2012 compared To Q1 2011 is due to the increase in the total operating income of the bank.