Banque Saudi Fransi’s profits surge 27% in 9M-23

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Riyadh: The net profits of Banque Saudi Fransi hiked by 27.06% year-on-year (YoY) to SAR 3.39 billion in the first nine months (9M) of 2023 from SAR 2.67 billion.

The clients’ deposits amounted to SAR 565.71 billion in 9M-23, marking a 1.79% rise from SAR 555.76 billion in 9M-22, according to the initial income statements.

Earnings per share (EPS) hit SAR 2.96 as of 30 September 2023, higher than SAR 2.08 a year earlier.

The assets jumped by 7.86% to SAR 249.86 billion in 9M-23 from SAR 231.65 billion in January-September 2022, while the investments climbed by 7.03% to SAR 46.39 billion from SAR 43.34 billion.

Financials for Q3-23

The bank’s net profits hit SAR 1.24 billion during the third quarter (Q3) of 2023, up 29.55% from SAR 961 million in the year-ago period.

On a quarterly basis, the Q3-23 profits surged by 16.03% from SAR 1.07 billion in Q2-23.