The profits of the Saudi Fransi Bank decreased by 25.6% to reach 682 million riyals in the first quarter of 2020, compared to 917 million riyals in the first quarter of 2019. According to Arabia Net, the bank said that the profits for the first quarter of 2020 increased by 32.4%, compared to the profits achieved in the previous quarter, which was 515 million riyals. p> The net private commission income / financing and investments in the first quarter of 2020 amounted to about 1.287 billion riyals, compared to 1.273 billion riyals, in the first quarter of 2019, with a slight growth At 1%. The bank attributed the decline in its profits to the decrease in net income, and the main reason was the increase in total operating expenses by 60.39%. However, total operating income increased by 1.97%. This increase in total operating expenses is mainly due to the increase in the provision for credit losses, salaries and employee expenses and other general and administrative and operating expenses in addition to the decrease (reverse) of the allowance / decrease The value of other financial assets, which was partially offset by a decrease in amortization. Meanwhile, the total operating income increased and the main reason was the rise in other operating income, foreign exchange income, and net special commission income, which was partially offset by a decrease in income Trading and fee and commission income.
