Banque Saudi Fransi (BSF) posted an over twofold increase year-on-year (YoY) in net profit to SAR 3.1 billion for the fiscal year 2019, driven by a decline in Zakat and income tax provision.
Total operating income also increased by 1.09%, buoyed by net special commission income, gain on non-trading investments, along with fee and commission income.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Net Special Commission Income | 5,016.87 | 5,205.68 | 3.8 % |
| Operating Income | 6,701.33 | 6,872.55 | 2.6 % |
| Total Provisions | (910.50) | (1008.57) | (10.8 %) |
| Net Income | 1,403.02 | 3,114.97 | 122.0 % |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 1.16 | 2.58 | 122.0 % |
| EPS Diluted (Riyals) | 1.17 | 2.60 | 122.2 % |
In Q4 2019, BSF swung to a net profit of SAR 515 million, against a net loss of SAR 1.43 billion in year earlier period.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,247.18 | 1,291.30 | 3.5 % |
| Operating Income | 1,692.64 | 1,705.72 | 0.8 % |
| Debt Provisions | (566.73) | (437.86) | 22.7 % |
| Net Income | (1431.68) | 514.51 | 135.9 % |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | (1.19) | 0.43 | 135.9 % |
| EPS Diluted (Riyal) | 0.93 | 0.43 | (53.8 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,343.91 | 1,291.30 | (3.9 %) |
| Operating Income | 1,737.71 | 1,705.72 | (1.8 %) |
| Debt Provisions | (226.22) | (437.86) | (93.6 %) |
| Net Income | 880.00 | 514.51 | (41.5 %) |
| Average Shares | 1,205.36 | 1,205.36 | - |
| EPS (Riyals) | 0.73 | 0.43 | (41.5 %) |
| EPS Diluted (Riyal) | 0.73 | 0.43 | (41.1 %) |
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Assets | 190.25 | 178.15 | (6.4 %) |
| Customer Deposits | 148.37 | 132.84 | (10.5 %) |
| Loan | 120.63 | 125.73 | 4.2 % |
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