Banque Saudi Fransi announces a robust 3,109 million Net Profit for the first 9 months of 2017
BSF announced a robust Net profit continuing on the positive momentum recorded in 2016 and first half of 2017, achieving SR 3,109 million at the end of 3rd quarter of 2017, compared to SR 3,136 million in the similar period for the previous year, representing a decrease of 0.86 %.
Net profit for the third quarter of 2017 has reached SR 1,001 million, a decrease of 0.89 % compared to the same quarter of the previous year.
Total operating Income for the first nine months of 2017 increased to SR 4,957 million, compared to SR 4,845 million for the same period last year, an increase of 2.31 %. Operating Income for the third quarter of 2017 amounted to SR 1,630 million, an increase of 2.64 % compared to the same quarter last year.
Net special commission Income for the first nine months of 2017 increased to SR 3,486 million, compared to SR 3,239 million for the same period last year, an increase of 7.63 %. The special commission Income during the third quarter of 2017 amounted to SR 1,207 million, compared to SR 1,108 million for the same quarter of the previous year, an increase of 8.94 %
The loan and advances portfolio reached SR 128,948 million, a decrease of 3.72 % over the same period last year.
Customer deposits reached SR 155,472 million for the nine months of 2017, compared to SR 147,277 million for the same period of the previous year, an increase of 5.56%.
As a result, the earnings per share for nine months of 2017 amounted to SR 2.59 against SR 2.6 for the same period in 2016.
Banque Saudi Fransi achieved strong financial results for the third quarter of 2017 as the management continued to push the bank's ambitious plans to develop products and services with high quality standards. The bank continues to play an important role in financing operations to its corporate and individual clients so that they can support all their national economic initiatives. Banque Saudi Fransi is working on solid foundations based on its experience over the past years. The Bank is committed to implementing a balanced risk strategy and enhancing prudential ratios, which is a strong base for improving performances and supporting the national economy during the ambitious national transition plan.