Banque Saudi Fransi's net profit increased by 76.2% to reach 770 million riyals, after zakat and tax, in the second quarter of 2021, compared to a net profit of about 437 million riyals in the same quarter of 2020.
According to Arabiya Net, Banque Saudi Fransi's net profit fell on a quarterly basis by 1.28% in the second quarter of 2021, compared to a net profit of about 780 million riyals in the quarter. the first of 2021.
The Saudi Fransi said in a statement on the Saudi Tadawul, today, Sunday, that the increase in profits in the second quarter of 2021, on an annual basis, is mainly caused by the decrease in total operating expenses by a percentage 25.7%, mainly due to a decrease in the provision for credit losses and other financial assets, offset by a partial increase in operating, general and other administrative expenses.
Banque Saudi Fransi's net profit increased by 38.4% in the first half of this year, to reach 1.55 billion riyals, compared to 1.12 billion riyals in the same period of 2020.
The bank's loans and advances portfolio increased by 4.46% to 141.81 billion riyals at the end of the first half of 2021, compared to about 135.75 billion riyals in the same period of 2020.
Likewise, the value of customer deposits increased by 2% to 140.81 billion riyals at the end of the first half of this year, compared to about 138.05 billion riyals at the end of the first half of 2020.< /p>
