BSF posts SR1.74 billion net profit for H1
Banque Saudi Fransi (BSF) realized a net profit of SR1.74 billion for the first six months of 2014 compared to SR1.45 billion for the previous year, an increase of 20.33 percent.
Announcing the interim financial results for the six-month period ending June 30, 2014, BSF stated that the net profit of the second quarter of 2014 reached SR884 million compared to SR763 million for the same period last year, an increase of 15.86 percent.
Total operating income during the first six months of 2014 has also surged reaching SR2.88 billion.
Net profit from special commission income rose to SR1.87 billion. Net Special Commission amounted to SR1.87 billion, an increase of 14.48 percent compared to SR1.63 billion for the same period last year.
The earnings per share for the first six months of 2014 amounted to SR1.44 compared to SR1.20 for the same period last year.
Commenting on the results, Patrice Couvegnes, BSF’s MD, said: “BSF indeed recorded solid growth in both revenues and net profit demonstrating robustness of its business model and its continued support to local economy development.”