Riyadh –  The net profits of Banque Saudi Fransi hit SAR 1.07 billion during the first quarter (Q1) of 2023, an annual rise of 22.97% from SAR 875 million.

The earnings per share (EPS) stood at SAR 0.85 in the first three months (3M) of 2023, versus SAR 0.68 in the year-ago period, according to the initial income statements.

Meanwhile, the Saudi lender registered clients’ deposits valued at SAR 167.41 billion as of 31 March 2023, up 11.05% YoY from SAR 150.75 billion.

Assets increased by 8.11% to SAR 240.23 billion in Q1-23 from SAR 222.21 billion in Q1-22, while investments grew by 4.34% to SAR 44.80 billion from SAR 42.94 billion.

On a quarterly basis, the Q1-23 net profits climbed by 19.16% from SAR 903 million in Q4-22.

Last year, Banque Saudi Fransi achieved net profits worth SAR 3.57 billion, higher by 3.62% than SAR 3.45 billion in the 12-month period that ended on 31 December 2021.

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