Banque Saudi Fransi records higher profits at SAR 3.4bn in 9M-24

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Riyadh – Mubasher: The net profits of Banque Saudi Fransi edged up by 0.94% to SAR 3.42 billion in the first nine months (9M) of 2024, compared to SAR 3.39 billion in 9M-23.

The earnings per share (EPS) increased to SAR 2.71 in 9M-24 from SAR 2.69 a year earlier, according to the interim financial statements.

The Saudi lender reported clients’ deposits amounting to SAR 193.34 billion as of 30 September 2024, an annual surge of 16.21% from SAR 166.36 billion.

Assets grew by 15.13% to SAR 287.67 billion in 9M-24 from SAR 249.86 billion in 9M-23, while investments hiked by 23.70% to SAR 57.38 billion from SAR 46.39 billion.

Financials for Q3-24

The bank’s net profits stood at SAR 1.14 billion in the third quarter (Q3) of 2024, down 7.79% year-on-year (YoY) from SAR 1.24 billion.

On a quarterly basis, the Q3-24 profits grew by 1.68% from the SAR 1.12 billion generated in Q2-24.

Source: Mubasher Source: {{details.article.source}}