Financial Results : BSF reports 16% profit growth to SAR 1.33B in Q1 2025

BSF reports 16% profit growth to SAR 1.33B in Q1 2025

21/04/2025 Argaam Exclusive

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Banque Saudi Fransi (BSF) reported a net profit of SAR 1.33 billion in Q1 2025, an increase of 16% from SAR 1.15 billion in the year earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Net Special Commission Income 1,918.53 2,118.34 10.4 %
Operating Income 2,331.29 2,638.12 13.2 %
Debt Provisions (278.64) (268.98) 3.5 %
Net Income 1,149.97 1,337.89 16.3 %
Average Shares 2,500.00 2,500.00 -
Earnings Per Share before unusual items (Riyal) 0.46 0.54 16.3 %
EPS (Riyal) 0.46 0.54 16.3 %
EPS Diluted (Riyal) 0.44 0.50 13.9 %

Total operating income grew 13.2% year-on-year (YoY), as gross special commission income increased 9.8% mainly due to higher return from financing and investments. Net special commission income rose 10.4%.

 

The bank also noted gains on non-trading investments and net fee and commission, along with trading and foreign exchange income.

 

Meanwhile, net impairment charges for financing and other assets increased by 1.4% due to higher impairment charge for investments, financials assets and others. This was partially offset by lower impairment charges on loans and advances.

 

The increase in total operating expenses was primarily due to higher other operating, general and administrative expenses.

 

On a quarterly basis, net profit grew 19.8% from SAR 1.11 billion in Q4 2024.

Balance Sheet (B)

Item 3m 2024 3m 2025 Change‬
Assets 268.66 302.99 12.8 %
Customer Deposits 174.83 190.73 9.1 %
Loan 185.41 208.98 12.7 %

Total shareholders’ equity, no minority equity and after deducting sukuk, reached SAR 40.43 billion by March 31, 2025, compared to SAR 37.21 billion a year earlier.

 

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