The Clap
Banque Saudi Fransi’s (1050) net profit jumped to SAR 961 million in Q3 2022, a YoY increase compared to SAR 907 million.
The Deets
The bank’s net profit increased by 6% YoY during Q3.
Its profits increased by 9% YoY during the first nine months of this year, amounting to about SAR 2.67 billion, compared to approximately SAR 2.45 billion.
Profits
The bank attributed the increase in profits to the increase in its total operating income by 7.67% during the first 9 months of 2022, due to the growth of net commission income, net foreign exchange income, and other operating income.
Earnings per share in the current period recorded SAR 2.08 during the quarter, compared to SAR 1.92 in the same period last year.
Now What
The bank issued additional first-class Sukuk worth a total of SAR 5 billion, included as part of the total equity.
