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Banque Saudi Fransi net profit up 15%

The bank’s profit peaked at SR2.7 billion ($719 million). (Banque Saudi Fransi)
By TRENDS Desk
October 31, 2022 7:13 pm
  • The hike in profit was driven by boost in total operating income, partially offset by an increase in total operating expenses by 20.18 percent.
  • The bank said the increase in total operating income was driven by higher net special commission income, exchange income, net as well as other operating income.

Dubai–-Saudi Arabia’s Banque Saudi Fransi has reported nearly a 15 percent jump in net profit for the first nine months of 2022.
In a Tadawul filing, the bank said the net profit rose to SAR 961 ($255 million), compared to SAR 907 in 2021.
The bank’s profit peaked at SR2.7 billion ($719 million), compared to SR2.5 billion in the prior-year period, driven by boost in total operating income, partially offset by an increase in total operating expenses by 20.18 percent.
The bank said the increase in total operating income was driven by higher net special commission income, exchange income, net as well as other operating income, which was partially offset by decrease in trading income, net and net fee and commission income.

 

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