Banque Saudi Fransi profit rises 7% to SAR 1.15B in Q1 2024

25/04/2024 Argaam Exclusive

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Banque Saudi Fransi (BSFR)

Banque Saudi Fransi (BSF) posted a 7% rise in Q1 2024 net profit to SAR 1.15 billion, compared to SAR 1.07 billion in the prior-year period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Net Special Commission Income	1,923.96	1,918.53	(0.3 %)
Operating Income	2,318.08	2,331.29	0.6 %
Debt Provisions	(485.05)	(278.64)	42.6 %
Net Income	1,076.40	1,149.97	6.8 %
Average Shares	1,205.36	1,205.36	-
EPS (Riyals)	0.89	0.95	6.8 %
EPS Diluted (Riyal)	0.85	0.91	7.1 %

Item	Q4 2023	Q1 2024	Change‬
Net Special Commission Income	1,867.74	1,918.53	2.7 %
Operating Income	2,190.94	2,331.29	6.4 %
Debt Provisions	(405.97)	(278.64)	31.4 %
Net Income	827.48	1,149.97	39.0 %
Average Shares	1,205.36	1,205.36	-
EPS (Riyals)	0.69	0.95	39.0 %
EPS Diluted (Riyal)	0.64	0.91	42.2 %

Gross special commission income increased by 27.5% year-on-year (YoY), mainly due to higher return from financing and investments. Net special commission income fell by 0.3% YoY, primarily due to increase in special commission expenses.

Balance Sheet (B)

Item	3m 2023	3m 2024	Change‬
Assets	240.24	268.38	11.7 %
Customer Deposits	167.41	174.83	4.4 %
Loan	164.78	185.41	12.5 %

Total operating expenses dropped by 6.2% YoY and total operating income fell by 0.6% YoY.

Compared to Q4 2023, the first-quarter net profit leapt by 39.1% from SAR 827 million.

Shareholders’ equity, no minority interest after excluding Sukuk, rose to SAR 36.92 billion at the end of the current period, from SAR 34.93 billion a year earlier.

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change	Net Income	Change	EPS(Riyal)
Q1 2015	962.89	7.4 %	1,590.11	13.5 %	(37.20)	65.7 %	1,050.38	22.7 %	0.87
Q2 2015	1,016.15	4.8 %	1,578.73	6.8 %	(42.97)	59.2 %	1,015.83	14.9 %	0.84
Q3 2015	1,044.11	6.5 %	1,588.27	6.8 %	(50.23)	30.8 %	1,020.25	10.2 %	0.85
Q4 2015	1,032.13	6.4 %	1,534.38	8.1 %	(50.51)	(46.7 %)	949.98	11.7 %	0.79
2015	4,055.28	6.2 %	6,291.50	8.7 %	(180.90)	43.6 %	4,036.44	14.8 %	3.35
Q1 2016	1,062.82	10.4 %	1,644.92	3.4 %	(41.74)	(12.2 %)	1,077.80	2.6 %	0.89
Q2 2016	1,068.80	5.2 %	1,612.88	2.2 %	(36.58)	14.9 %	1,048.19	3.2 %	0.87
Q3 2016	1,107.55	6.1 %	1,587.64	0.0 %	(54.53)	(8.6 %)	1,010.24	(1.0 %)	0.84
Q4 2016	1,017.03	(1.5 %)	1,554.28	1.3 %	(635.53)	(1,158.2 %)	374.01	(60.6 %)	0.31
2016	4,256.19	5.0 %	6,399.71	1.7 %	(768.37)	(324.7 %)	3,510.23	(13.0 %)	2.91
Q1 2017	1,111.53	4.6 %	1,696.56	3.1 %	(29.04)	30.4 %	1,103.89	2.4 %	0.92
Q2 2017	1,167.37	9.2 %	1,630.39	1.1 %	(58.57)	(60.1 %)	1,004.69	(4.1 %)	0.83
Q3 2017	1,207.13	9.0 %	1,629.57	2.6 %	(55.68)	(2.1 %)	1,000.54	(1.0 %)	0.83
Q4 2017	1,213.64	19.3 %	1,619.68	4.2 %	(517.82)	18.5 %	422.77	13.0 %	0.35
2017	4,699.67	10.4 %	6,576.21	2.8 %	(497.96)	35.2 %	3,531.88	0.6 %	2.93
Q1 2018	1,256.00	13.0 %	1,647.17	(2.9 %)	(89.74)	(209.0 %)	1,049.95	(4.9 %)	0.87
Q2 2018	1,252.35	7.3 %	1,665.13	2.1 %	(126.18)	(115.4 %)	841.31	(16.3 %)	0.70
Q3 2018	1,261.35	4.5 %	1,696.39	4.1 %	(127.84)	(129.6 %)	943.44	(5.7 %)	0.78
Q4 2018	1,247.18	2.8 %	1,692.64	4.5 %	(566.73)	(9.4 %)	(1431.68)	(438.6 %)	(1.19)
2018	5,016.87	6.7 %	6,701.33	1.9 %	(910.50)	(82.8 %)	1,403.02	(60.3 %)	1.16
Q1 2019	1,272.94	1.3 %	1,722.68	4.6 %	(144.17)	(60.6 %)	916.83	(12.7 %)	0.76
Q2 2019	1,297.53	3.6 %	1,706.43	2.5 %	(200.32)	(58.8 %)	803.63	(4.5 %)	0.67
Q3 2019	1,343.91	6.5 %	1,737.71	2.4 %	(226.22)	(77.0 %)	880.00	(6.7 %)	0.73
Q4 2019	1,291.30	3.5 %	1,705.72	0.8 %	(437.86)	22.7 %	514.51	135.9 %	0.43
2019	5,205.68	3.8 %	6,872.55	2.6 %	(1,008.57)	(10.8 %)	3,114.97	122.0 %	2.58
Q1 2020	1,287.24	1.1 %	1,756.94	2.0 %	(397.57)	(175.8 %)	682.08	(25.6 %)	0.57
Q2 2020	1,296.83	(0.1 %)	1,760.03	3.1 %	(634.32)	(216.7 %)	436.80	(45.6 %)	0.36
Q3 2020	1,375.04	2.3 %	1,750.75	0.8 %	(930.45)	(311.3 %)	333.39	(62.1 %)	0.28
Q4 2020	1,281.29	(0.8 %)	1,776.88	4.2 %	(853.99)	(95.0 %)	93.95	(81.7 %)	0.08
2020	5,240.39	0.7 %	7,044.59	2.5 %	(2,816.32)	(179.2 %)	1,546.21	(50.4 %)	1.28
Q1 2021	1,287.32	0.0 %	1,795.51	2.2 %	(290.08)	27.0 %	779.68	14.3 %	0.65
Q2 2021	1,330.43	2.6 %	1,753.66	(0.4 %)	(266.97)	57.9 %	769.68	76.2 %	0.64
Q3 2021	1,423.60	3.5 %	1,913.97	9.3 %	(296.34)	68.2 %	907.25	172.1 %	0.75
Q4 2021	1,332.10	4.0 %	1,724.70	(2.9 %)	(167.96)	80.3 %	993.27	957.3 %	0.82
2021	5,698.65	8.7 %	7,127.93	1.2 %	(961.43)	65.9 %	3,449.88	123.1 %	2.86
Q1 2022	1,414.85	9.9 %	1,821.04	1.4 %	(244.89)	15.6 %	874.57	12.2 %	0.73
Q2 2022	1,516.47	14.0 %	1,870.36	6.7 %	(294.82)	(10.4 %)	837.02	8.7 %	0.69
Q3 2022	1,716.68	20.6 %	2,083.05	8.8 %	(349.50)	(17.9 %)	960.87	5.9 %	0.80
Q4 2022	1,778.56	33.5 %	2,242.83	30.0 %	(474.73)	(182.7 %)	902.68	(9.1 %)	0.75
2022	6,426.55	12.8 %	8,017.28	12.5 %	(1,363.94)	(41.9 %)	3,575.13	3.6 %	2.97
Q1 2023	1,923.96	36.0 %	2,318.08	27.3 %	(485.05)	(98.1 %)	1,076.40	23.1 %	0.89
Q2 2023	1,975.51	30.3 %	2,347.34	25.5 %	(427.01)	(44.8 %)	1,073.35	28.2 %	0.89
Q3 2023	2,067.99	20.5 %	2,467.63	18.5 %	(350.79)	(0.4 %)	1,245.49	29.6 %	1.03
Q4 2023	1,867.74	5.0 %	2,190.94	(2.3 %)	(405.97)	14.5 %	827.48	(8.3 %)	0.69
2023	7,835.20	21.9 %	9,323.99	16.3 %	(1,668.82)	(22.4 %)	4,222.73	18.1 %	3.50
Q1 2024	1,918.53	(0.3 %)	2,331.29	0.6 %	(278.64)	42.6 %	1,149.97	6.8 %	0.95

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change	Net Income	Change	EPS(Riyal)
2014	3,816.98	13.5 %	5,786.04	14.5 %	(320.93)	66.5 %	3,516.34	46.2 %	2.92
2015	4,055.28	6.2 %	6,291.50	8.7 %	(180.90)	43.6 %	4,036.44	14.8 %	3.35
2016	4,256.19	5.0 %	6,399.71	1.7 %	(768.37)	(324.7 %)	3,510.23	(13.0 %)	2.91
2017	4,699.67	10.4 %	6,576.21	2.8 %	(497.96)	35.2 %	3,531.88	0.6 %	2.93
2018	5,016.87	6.7 %	6,701.33	1.9 %	(910.50)	(82.8 %)	1,403.02	(60.3 %)	1.16
2019	5,205.68	3.8 %	6,872.55	2.6 %	(1,008.57)	(10.8 %)	3,114.97	122.0 %	2.58
2020	5,240.39	0.7 %	7,044.59	2.5 %	(2,816.32)	(179.2 %)	1,546.21	(50.4 %)	1.28
2021	5,698.65	8.7 %	7,127.93	1.2 %	(961.43)	65.9 %	3,449.88	123.1 %	2.86
2022	6,426.55	12.8 %	8,017.28	12.5 %	(1,363.94)	(41.9 %)	3,575.13	3.6 %	2.97
2023	7,835.20	21.9 %	9,323.99	16.3 %	(1,668.82)	(22.4 %)	4,222.73	18.1 %	3.50

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
Q1 2015	1.96 %	14.22 %	64.99 %
Q2 2015	2.08 %	14.45 %	64.68 %
Q3 2015	2.14 %	14.69 %	64.65 %
Q4 2015	2.17 %	14.96 %	64.46 %
2015	2.17 %	14.96 %	64.46 %
Q1 2016	2.15 %	14.23 %	65.47 %
Q2 2016	2.16 %	14.48 %	65.95 %
Q3 2016	2.15 %	14.38 %	66.95 %
Q4 2016	1.81 %	12.28 %	66.51 %
2016	1.81 %	12.28 %	66.51 %
Q1 2017	1.82 %	11.82 %	66.73 %
Q2 2017	1.75 %	11.59 %	68.07 %
Q3 2017	1.75 %	11.61 %	69.16 %
Q4 2017	1.78 %	11.51 %	71.46 %
2017	1.78 %	11.51 %	71.46 %
Q1 2018	1.79 %	11.14 %	74.22 %
Q2 2018	1.68 %	10.39 %	75.12 %
Q3 2018	1.67 %	10.27 %	75.18 %
Q4 2018	0.73 %	4.49 %	74.86 %
2018	0.73 %	4.49 %	74.86 %
Q1 2019	0.68 %	3.97 %	74.28 %
Q2 2019	0.66 %	3.81 %	74.49 %
Q3 2019	0.62 %	3.62 %	75.25 %
Q4 2019	1.69 %	9.76 %	75.75 %
2019	1.69 %	9.76 %	75.75 %
Q1 2020	1.48 %	8.70 %	75.58 %
Q2 2020	1.29 %	7.58 %	74.99 %
Q3 2020	1.02 %	5.93 %	75.29 %
Q4 2020	0.83 %	4.64 %	74.39 %
2020	0.83 %	4.64 %	74.39 %
Q1 2021	0.82 %	4.82 %	73.98 %
Q2 2021	0.96 %	5.82 %	74.53 %
Q3 2021	1.24 %	7.51 %	73.52 %
Q4 2021	1.68 %	10.10 %	74.76 %
2021	1.68 %	10.10 %	79.95 %
Q1 2022	1.67 %	10.33 %	76.26 %
Q2 2022	1.63 %	10.78 %	77.58 %
Q3 2022	1.65 %	10.93 %	79.74 %
Q4 2022	1.60 %	10.45 %	80.16 %
2022	1.60 %	10.45 %	80.16 %
Q1 2023	1.63 %	10.89 %	81.46 %
Q2 2023	1.68 %	11.90 %	82.24 %
Q3 2023	1.79 %	12.81 %	82.62 %
Q4 2023	1.74 %	12.09 %	84.03 %
2023	1.74 %	12.09 %	84.03 %
Q1 2024	1.69 %	11.96 %	83.86 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
2014	1.96 %	14.15 %	65.97 %
2015	2.17 %	14.96 %	64.46 %
2016	1.81 %	12.28 %	66.51 %
2017	1.78 %	11.51 %	71.46 %
2018	0.73 %	4.49 %	74.86 %
2019	1.69 %	9.76 %	75.75 %
2020	0.83 %	4.64 %	74.39 %
2021	1.68 %	10.10 %	79.95 %
2022	1.60 %	10.45 %	80.16 %
2023	1.74 %	12.09 %	84.03 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
Q1 2015	193.88	5.2 %	150.21	8.9 %	120.79	5.2 %
Q2 2015	185.95	0.9 %	142.63	6.1 %	125.04	6.5 %
Q3 2015	184.99	1.0 %	143.95	9.1 %	124.41	5.2 %
Q4 2015	183.72	(2.7 %)	141.85	(2.4 %)	123.77	6.2 %
Q1 2016	184.02	(5.1 %)	141.82	(5.6 %)	124.98	3.5 %
Q2 2016	193.91	4.3 %	138.81	(2.7 %)	129.64	3.7 %
Q3 2016	195.74	5.8 %	147.28	2.3 %	133.94	7.7 %
Q4 2016	203.43	10.7 %	158.46	11.7 %	129.46	4.6 %
Q1 2017	204.36	11.1 %	158.47	11.7 %	129.09	3.3 %
Q2 2017	205.34	5.9 %	163.90	18.1 %	129.38	(0.2 %)
Q3 2017	201.70	3.0 %	155.47	5.6 %	128.95	(3.7 %)
Q4 2017	192.93	(5.2 %)	150.95	(4.7 %)	121.94	(5.8 %)
Q1 2018	184.02	(10.0 %)	141.94	(10.4 %)	123.88	(4.0 %)
Q2 2018	188.96	(8.0 %)	146.70	(10.5 %)	122.81	(5.1 %)
Q3 2018	189.34	(6.1 %)	146.69	(5.6 %)	123.70	(4.1 %)
Q4 2018	190.25	(1.4 %)	148.37	(1.7 %)	120.63	(1.1 %)
Q1 2019	190.04	3.3 %	144.82	2.0 %	121.27	(2.1 %)
Q2 2019	186.58	(1.3 %)	142.23	(3.1 %)	124.23	1.2 %
Q3 2019	186.37	(1.6 %)	141.90	(3.3 %)	123.44	(0.2 %)
Q4 2019	178.15	(6.4 %)	132.84	(10.5 %)	125.73	4.2 %
Q1 2020	199.18	4.8 %	146.77	1.3 %	134.88	11.2 %
Q2 2020	201.95	8.2 %	138.05	(2.9 %)	135.75	9.3 %
Q3 2020	197.44	5.9 %	135.65	(4.4 %)	134.36	8.8 %
Q4 2020	194.07	8.9 %	127.11	(4.3 %)	130.56	3.8 %
Q1 2021	202.23	1.5 %	132.99	(9.4 %)	134.10	(0.6 %)
Q2 2021	211.31	4.6 %	140.80	2.0 %	141.81	4.5 %
Q3 2021	213.34	8.0 %	143.32	5.7 %	144.39	7.5 %
Q4 2021	215.80	11.2 %	141.95	11.7 %	147.81	13.2 %
Q1 2022	222.21	9.9 %	150.76	13.4 %	152.69	13.9 %
Q2 2022	231.27	9.4 %	157.92	12.2 %	159.62	12.6 %
Q3 2022	231.66	8.6 %	157.82	10.1 %	158.48	9.8 %
Q4 2022	232.08	7.5 %	157.59	11.0 %	159.01	7.6 %
Q1 2023	240.24	8.1 %	167.41	11.0 %	164.78	7.9 %
Q2 2023	245.72	6.2 %	161.16	2.1 %	169.70	6.3 %
Q3 2023	249.86	7.9 %	166.37	5.4 %	174.68	10.2 %
Q4 2023	253.38	9.2 %	172.21	9.3 %	179.39	12.8 %
Q1 2024	268.38	11.7 %	174.83	4.4 %	185.41	12.5 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
3m 2015	193.88	5.2 %	150.21	8.9 %	120.79	5.2 %
6m 2015	185.95	0.9 %	142.63	6.1 %	125.04	6.5 %
9m 2015	184.99	1.0 %	143.95	9.1 %	124.41	5.2 %
12m 2015	183.72	(2.7 %)	141.85	(2.4 %)	123.77	6.2 %
3m 2016	184.02	(5.1 %)	141.82	(5.6 %)	124.98	3.5 %
6m 2016	193.91	4.3 %	138.81	(2.7 %)	129.64	3.7 %
9m 2016	195.74	5.8 %	147.28	2.3 %	133.94	7.7 %
12m 2016	203.43	10.7 %	158.46	11.7 %	129.46	4.6 %
3m 2017	204.36	11.1 %	158.47	11.7 %	129.09	3.3 %
6m 2017	205.34	5.9 %	163.90	18.1 %	129.38	(0.2 %)
9m 2017	201.70	3.0 %	155.47	5.6 %	128.95	(3.7 %)
12m 2017	192.93	(5.2 %)	150.95	(4.7 %)	121.94	(5.8 %)
3m 2018	184.02	(10.0 %)	141.94	(10.4 %)	123.88	(4.0 %)
6m 2018	188.96	(8.0 %)	146.70	(10.5 %)	122.81	(5.1 %)
9m 2018	189.34	(6.1 %)	146.69	(5.6 %)	123.70	(4.1 %)
12m 2018	190.25	(1.4 %)	148.37	(1.7 %)	120.63	(1.1 %)
3m 2019	190.04	3.3 %	144.82	2.0 %	121.27	(2.1 %)
6m 2019	186.58	(1.3 %)	142.23	(3.1 %)	124.23	1.2 %
9m 2019	186.37	(1.6 %)	141.90	(3.3 %)	123.44	(0.2 %)
12m 2019	178.15	(6.4 %)	132.84	(10.5 %)	125.73	4.2 %
3m 2020	199.18	4.8 %	146.77	1.3 %	134.88	11.2 %
6m 2020	201.95	8.2 %	138.05	(2.9 %)	135.75	9.3 %
9m 2020	197.44	5.9 %	135.65	(4.4 %)	134.36	8.8 %
12m 2020	194.07	8.9 %	127.11	(4.3 %)	130.56	3.8 %
3m 2021	202.23	1.5 %	132.99	(9.4 %)	134.10	(0.6 %)
6m 2021	211.31	4.6 %	140.80	2.0 %	141.81	4.5 %
9m 2021	213.34	8.0 %	143.32	5.7 %	144.39	7.5 %
12m 2021	215.80	11.2 %	141.95	11.7 %	147.81	13.2 %
3m 2022	222.21	9.9 %	150.76	13.4 %	152.69	13.9 %
6m 2022	231.27	9.4 %	157.92	12.2 %	159.62	12.6 %
9m 2022	231.66	8.6 %	157.82	10.1 %	158.48	9.8 %
12m 2022	232.08	7.5 %	157.59	11.0 %	159.01	7.6 %
3m 2023	240.24	8.1 %	167.41	11.0 %	164.78	7.9 %
6m 2023	245.72	6.2 %	161.16	2.1 %	169.70	6.3 %
9m 2023	249.86	7.9 %	166.37	5.4 %	174.68	10.2 %
12m 2023	253.38	9.2 %	172.21	9.3 %	179.39	12.8 %
3m 2024	268.38	11.7 %	174.83	4.4 %	185.41	12.5 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
2014	188.78	11.0 %	145.28	10.4 %	116.54	4.7 %
2015	183.72	(2.7 %)	141.85	(2.4 %)	123.77	6.2 %
2016	203.43	10.7 %	158.46	11.7 %	129.46	4.6 %
2017	192.93	(5.2 %)	150.95	(4.7 %)	121.94	(5.8 %)
2018	190.25	(1.4 %)	148.37	(1.7 %)	120.63	(1.1 %)
2019	178.15	(6.4 %)	132.84	(10.5 %)	125.73	4.2 %
2020	194.07	8.9 %	127.11	(4.3 %)	130.56	3.8 %
2021	215.80	11.2 %	141.95	11.7 %	147.81	13.2 %
2022	232.08	7.5 %	157.59	11.0 %	159.01	7.6 %
2023	253.38	9.2 %	172.21	9.3 %	179.39	12.8 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
Q1 2015	77.47 %	62.30 %	80.42 %
Q2 2015	76.70 %	67.24 %	87.67 %
Q3 2015	77.82 %	67.25 %	86.43 %
Q4 2015	77.21 %	67.37 %	87.25 %
Q1 2016	77.07 %	67.92 %	88.12 %
Q2 2016	71.58 %	66.85 %	93.39 %
Q3 2016	75.24 %	68.43 %	90.94 %
Q4 2016	77.89 %	63.64 %	81.70 %
Q1 2017	77.54 %	63.17 %	81.46 %
Q2 2017	79.82 %	63.01 %	78.94 %
Q3 2017	77.08 %	63.93 %	82.94 %
Q4 2017	78.24 %	63.20 %	80.78 %
Q1 2018	77.14 %	67.32 %	87.28 %
Q2 2018	77.64 %	64.99 %	83.71 %
Q3 2018	77.48 %	65.33 %	84.33 %
Q4 2018	77.99 %	63.41 %	81.31 %
Q1 2019	76.21 %	63.82 %	83.74 %
Q2 2019	76.23 %	66.58 %	87.35 %
Q3 2019	76.14 %	66.23 %	86.99 %
Q4 2019	74.57 %	70.57 %	94.65 %
Q1 2020	73.69 %	67.72 %	91.90 %
Q2 2020	68.36 %	67.22 %	98.34 %
Q3 2020	68.71 %	68.05 %	99.04 %
Q4 2020	65.50 %	67.28 %	102.72 %
Q1 2021	65.76 %	66.31 %	100.84 %
Q2 2021	66.63 %	67.11 %	100.71 %
Q3 2021	67.18 %	67.68 %	100.75 %
Q4 2021	65.78 %	68.49 %	104.13 %
Q1 2022	67.84 %	68.71 %	101.28 %
Q2 2022	68.28 %	69.02 %	101.08 %
Q3 2022	68.13 %	68.41 %	100.42 %
Q4 2022	67.90 %	68.52 %	100.90 %
Q1 2023	69.69 %	68.59 %	98.43 %
Q2 2023	65.59 %	69.06 %	105.29 %
Q3 2023	66.58 %	69.91 %	105.00 %
Q4 2023	67.96 %	70.80 %	104.17 %
Q1 2024	65.14 %	69.09 %	106.05 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
2014	76.96 %	61.73 %	80.22 %
2015	77.21 %	67.37 %	87.25 %
2016	77.89 %	63.64 %	81.70 %
2017	78.24 %	63.20 %	80.78 %
2018	77.99 %	63.41 %	81.31 %
2019	74.57 %	70.57 %	94.65 %
2020	65.50 %	67.28 %	102.72 %
2021	65.78 %	68.49 %	104.13 %
2022	67.90 %	68.52 %	100.90 %
2023	67.96 %	70.80 %	104.17 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2015	1,205.36	3.08	3.08	3.08	23.28
Q2 2015	1,205.36	3.19	3.19	3.19	23.19
Q3 2015	1,205.36	3.27	3.27	3.27	23.53
Q4 2015	1,205.36	3.35	3.35	3.35	22.80
Q1 2016	1,205.36	3.37	3.37	3.37	24.10
Q2 2016	1,205.36	3.40	3.40	3.40	23.76
Q3 2016	1,205.36	3.39	3.39	3.39	23.61
Q4 2016	1,205.36	2.91	2.91	2.91	24.64
Q1 2017	1,205.36	2.93	2.93	2.94	25.53
Q2 2017	1,205.36	2.90	2.90	2.91	26.24
Q3 2017	1,205.36	2.89	2.89	2.90	26.18
Q4 2017	1,205.36	2.93	2.93	2.94	26.27
Q1 2018	1,205.36	2.89	2.80	2.95	26.29
Q2 2018	1,205.36	2.75	2.67	2.81	26.67
Q3 2018	1,205.36	2.70	2.62	2.77	26.45
Q4 2018	1,205.36	1.16	2.34	3.35	25.60
Q1 2019	1,205.36	1.05	2.31	3.18	26.75
Q2 2019	1,205.36	1.02	2.28	3.15	27.05
Q3 2019	1,205.36	0.97	2.22	3.09	27.06
Q4 2019	1,205.36	2.58	2.58	2.59	27.33
Q1 2020	1,205.36	2.39	2.39	2.40	28.16
Q2 2020	1,205.36	2.09	2.09	2.09	27.94
Q3 2020	1,205.36	1.63	1.63	1.64	27.94
Q4 2020	1,205.36	1.28	1.28	1.24	27.91
Q1 2021	1,205.36	1.36	1.36	1.29	28.37
Q2 2021	1,205.36	1.64	1.64	1.52	28.42
Q3 2021	1,205.36	2.12	2.12	1.95	28.41
Q4 2021	1,205.36	2.86	2.86	2.70	28.78
Q1 2022	1,205.36	2.94	2.94	2.76	28.56
Q2 2022	1,205.36	3.00	3.00	2.82	27.16
Q3 2022	1,205.36	3.04	3.04	2.86	27.22
Q4 2022	1,205.36	2.97	2.97	2.79	28.00
Q1 2023	1,205.36	3.13	3.13	2.96	28.98
Q2 2023	1,205.36	3.33	3.33	3.16	28.78
Q3 2023	1,205.36	3.57	3.57	3.40	28.44
Q4 2023	1,205.36	3.50	3.50	3.33	29.97
Q1 2024	1,205.36	3.56	3.56	3.39	30.64

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2014	1,205.36	2.92	2.92	2.92	21.96
2015	1,205.36	3.35	3.35	3.35	22.80
2016	1,205.36	2.91	2.91	2.91	24.64
2017	1,205.36	2.93	2.93	2.94	26.27
2018	1,205.36	1.16	2.34	1.17	25.60
2019	1,205.36	2.58	2.58	2.60	27.33
2020	1,205.36	1.28	1.28	1.24	27.91
2021	1,205.36	2.86	2.86	2.70	28.78
2022	1,205.36	2.97	2.97	2.79	28.00
2023	1,205.36	3.50	3.50	3.33	29.97

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	10.84	10.84	1.44
Q2 2015	10.08	10.08	1.39
Q3 2015	9.17	9.17	1.27
Q4 2015	8.36	8.36	1.23
Q1 2016	7.50	7.50	1.05
Q2 2016	6.60	6.60	0.94
Q3 2016	6.21	6.21	0.89
Q4 2016	8.94	8.94	1.06
Q1 2017	8.81	8.81	1.01
Q2 2017	10.63	10.63	1.18
Q3 2017	10.42	10.42	1.15
Q4 2017	9.73	9.73	1.09
Q1 2018	9.95	10.24	1.12
Q2 2018	12.06	12.43	1.27
Q3 2018	12.04	12.41	1.26
Q4 2018	9.37	4.67	1.23
Q1 2019	11.67	5.33	1.39
Q2 2019	13.19	5.93	1.54
Q3 2019	10.44	4.55	1.19
Q4 2019	14.63	14.63	1.39
Q1 2020	10.77	10.77	0.92
Q2 2020	13.66	13.66	1.02
Q3 2020	19.70	19.70	1.16
Q4 2020	25.48	25.48	1.13
Q1 2021	25.85	25.85	1.18
Q2 2021	25.26	25.26	1.35
Q3 2021	21.38	21.38	1.47
Q4 2021	17.50	17.50	1.64
Q1 2022	19.46	19.46	1.88
Q2 2022	15.76	15.76	1.75
Q3 2022	14.69	14.69	1.54
Q4 2022	13.62	13.62	1.45
Q1 2023	12.23	12.23	1.25
Q2 2023	13.20	13.20	1.45
Q3 2023	10.74	10.74	1.28
Q4 2023	11.35	11.35	1.33
Q1 2024	11.24	11.24	1.24

Period	P/E	Adjusted P/E	Price/book
2014	10.73	10.73	1.43
2015	8.36	8.36	1.23
2016	8.94	8.94	1.06
2017	9.73	9.73	1.09
2018	26.84	13.37	1.23
2019	14.58	14.58	1.39
2020	25.48	25.48	1.13
2021	16.43	16.43	1.64
2022	13.63	13.63	1.45
2023	12.01	12.01	1.33

Business Segments (Million)

Compared With The

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage
Q1 2015	356.05	751.84	394.64	87.58
Q2 2015	384.66	783.42	310.86	99.80
Q3 2015	387.40	789.72	337.51	73.65
Q4 2015	378.07	733.50	362.98	59.83
Q1 2016	388.71	788.11	404.21	63.89
Q2 2016	376.51	778.41	372.61	85.35
Q3 2016	369.75	787.13	373.80	56.95
Q4 2016	356.09	749.20	380.12	68.87
Q1 2017	381.68	808.87	443.31	62.71
Q2 2017	393.76	744.34	431.18	61.12
Q3 2017	403.67	719.52	440.01	66.36
Q4 2017	373.70	727.85	444.55	73.59
Q1 2018	407.50	758.45	519.07	59.45
Q2 2018	407.35	751.38	424.40	82.01
Q3 2018	462.47	780.06	392.81	61.04
Q4 2018	473.69	802.76	340.72	75.47
Q1 2019	459.73	780.74	404.56	77.65
Q2 2019	480.12	738.08	411.06	77.17
Q3 2019	466.64	806.94	403.56	60.59
Q4 2019	478.28	734.02	415.17	78.26
Q1 2020	459.26	740.72	474.75	82.22
Q2 2020	421.72	773.10	490.01	75.20
Q3 2020	473.03	715.80	473.82	88.10
Q4 2020	456.72	696.80	507.10	116.25
Q1 2021	488.28	717.24	453.16	136.84
Q2 2021	485.90	715.32	444.85	107.59
Q3 2021	472.08	802.68	528.60	110.61
Q4 2021	419.61	708.78	432.08	104.32
Q1 2022	464.79	724.53	513.22	118.50
Q2 2022	515.25	790.28	452.03	112.81
Q3 2022	582.32	968.71	433.14	98.88
Q4 2022	694.52	1,060.42	367.41	120.49
Q1 2023	804.07	1,047.59	370.01	96.41
Q2 2023	882.84	1,024.48	332.40	107.63
Q3 2023	949.73	1,137.48	252.71	127.71
Q4 2023	942.31	1,057.38	54.04	137.22
Q1 2024	1,040.50	1,163.67	7.65	119.48

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage
2014	1,419.49	2,740.81	1,263.34	362.39
2015	1,506.18	3,058.47	1,405.99	320.86
2016	1,491.06	3,102.85	1,530.73	275.06
2017	1,552.81	3,000.58	1,759.04	263.78
2018	1,751.02	3,092.65	1,677.01	277.97
2019	1,884.77	3,059.77	1,634.34	293.68
2020	1,810.73	2,926.42	1,945.68	361.77
2021	1,865.86	2,944.02	1,858.69	459.35
2022	2,256.87	3,543.95	1,765.79	450.67
2023	3,578.94	4,266.93	1,009.16	468.97

Analysts Estimates (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change‬
Average	1,086.55	1,149.97	5.84 %

Estimates vs Actual (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change
Sico	1,152.00	1,149.97	(0.2) %
Hermes	1,168.00	1,149.97	(1.5) %
FAB Securities	1,132.00	1,149.97	1.6 %
SNB Capital	1,125.00	1,149.97	2.2 %
Riyad Capital	1,109.00	1,149.97	3.7 %
Citi Bank Group	1,028.51	1,149.97	11.8 %
Bank of America	1,010.17	1,149.97	13.8 %
OSOOL AND BAKHEET	967.73	1,149.97	18.8 %

Financial Ratios

	Current
Market Cap (M Riyal)	44,479.26
Shares Outstanding ((M))	1,205.40
EPS ( Riyal) (TTM)	3.56
EPS Diluted ( Riyal) (TTM)	3.39
Book Value (BV) ( Riyal)	30.64
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	10.35
P/E (TTM)	10.35
Price/book	1.20
Return on Average Assets (%) (TTM)	1.7
Return on Average Equity (%) (TTM)	12.0

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Banque Saudi Fransi profit rises 7% to SAR 1.15B in Q1 2024

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Banque Saudi Fransi profit rises 7% to SAR 1.15B in Q1 2024

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Share Price

Banque Saudi Fransi (BSFR)

Current Quarter Comparison (M)

Balance Sheet (B)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Balance Sheet (B)

Balance Sheet Performance (B)

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