يعلن البنك السعودي الفرنسي عن النتائج المالية الأولية للفترة المنتهية في 30-09-2021 (تسعة أشهž

A1050 BSFR1.4 (3.47 %)
1443/03/21 Wed Oct 27, 2021 08:15:29

BANQUE SAUDI FRANSI ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 30-09-2021 (NINE MONTHS)

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Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total income from Special Commissions/Financing & Investments	1,542	1,569	-1.72	1,459	5.688
Net Income from Special Commissions/Financing & Investments	1,424	1,375	3.563	1,330	7.067
Total Operation Profit (Loss)	1,914	1,751	9.308	1,754	9.122
Net Profit (Loss) before Zakat and Income Tax	1,017	424	139.858	856	18.808
Net Profit (Loss)	907	333	172.372	770	17.792
Total Comprehensive Income	809	-4	-	612	32.189
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total income from Special Commissions/Financing & Investments	4,409	4,860	-9.279
Net Income from Special Commissions/Financing & Investments	4,041	3,959	2.071
Total Operation Profit (Loss)	5,463	5,268	3.701
Net Profit (Loss) before Zakat and Income Tax	2,778	1,777	56.33
Net Profit (Loss)	2,457	1,452	69.214
Total Comprehensive Income	1,989	1,910	4.136
Total Share Holders Equity (after Deducting Minority Equity)	39,242	33,683	16.503
Assets	213,335	197,445	8.047
Investments	43,587	37,901	15.002
Loans and Advances Portfolio (Financing & Investment)	144,393	134,356	7.47
Clients' deposits	143,322	135,655	5.651
Profit (Loss) per Share	1.92	1.21
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Net income increased mainly due to reduction in Total Operating Expenses by 32.4% and also due to increase in Total Operating Income by 9.3%. This decrease in Total Operating Expenses was primarily due to lower Impairment charge for credit losses, which was partially offset by reduction in Impairment reversal for other financial assets and increase in Other Operating and General and Administrative Expenses. Total operating Income increased mainly due to higher Trading Income, Net Special Commission Income as well as Net Fee and Commission Income.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	Net income increased mainly due to increase in Total Operating Income by 9.1% while Operating expenses remained flat. This increase in Total Operating Income was mainly due to Net Special Commission Income and Trading Income.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Net income increased mainly due to reduction in Total Operating Expenses by 23.1% as well as increase in Total Operating income by 3.7%. This decrease in Total Operating Expenses was driven by lower Impairment charge for credit losses, which was partially offset by Impairment charge for other financial assets and Other Operating and General and Administrative Expenses. This increase in Total Operating Income was driven by higher Net Fee and Commission Income, Net Special Commission Income as well as Trading Income, which was partially offset by decrease in Other Operating Income and Exchange Income.
Statement of the type of external auditor's report	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	None
Reclassification of Comparison Items	Some items have been re-classified to conform to current period presentation.
Additional Information	EPS for the current and the previous periods are calculated by dividing the net income after zakat and income tax for the period (adjusted for Tier 1 Sukuk costs) by the weighted average number of shares outstanding after excluding treasury shares. During Q4 2020, the Bank issued Tier 1 Sukuk amounting to SAR 5 billion which is included as part of Total Equity. Impairment charge for credit losses for the three months period ended 30 September 2021 was SAR 296 million, as compared to SAR 930 million in the corresponding period of last year and compared to SAR 267 million for the three months ended 30 June 2021. Impairment charge for credit losses for the nine months period ended 30 September 2021 was SAR 853 million, as compared to SAR 1,962 million in the corresponding period of last year.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.