Banque Saudi Fransi’s profit rises 4% to SAR 3.57 bln; Q4 falls to SAR 902.7 mln

12/02/2023 Argaam Exclusive

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Banque Saudi Fransi (BSF) reported a net profit of SAR 3.57 billion for 2022, an increase of 4%, from SAR 3.44 billion in the year-earlier period.

Financials (M)

Item	2021	2022	Change‬
Net Special Commission Income	5,698.65	6,426.55	12.8 %
Operating Income	7,127.93	8,017.28	12.5 %
Total Provisions	(961.43)	(1363.94)	(41.9 %)
Net Income	3,449.88	3,575.13	3.6 %
Average Shares	1,205.36	1,205.36	-
EPS (Riyals)	2.86	2.97	3.6 %
EPS Diluted (Riyals)	2.70	2.79	3.3 %

The higher profit was driven mainly by a 12.47% rise in total operating income, which was partly offset by an increase in total operating expenses by 21.97%.

The bank also reported a higher net special commission income, exchange income, and trading income, partially offset by a decline in gains on fair value through other comprehensive income (FVOCI) and non-trading investments.

Moreover, the increase in total operating expenses was mainly due to higher impairment charges for credit losses, salaries, employee-related expenses, and general and administrative expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Net Special Commission Income	1,332.10	1,778.56	33.5 %
Operating Income	1,724.70	2,242.83	30.0 %
Debt Provisions	(167.96)	(474.73)	(182.7 %)
Net Income	993.27	902.68	(9.1 %)
Average Shares	1,205.36	1,205.36	-
EPS (Riyals)	0.82	0.75	(9.1 %)
EPS Diluted (Riyal)	0.78	0.71	(9.0 %)

Item	Q3 2022	Q4 2022	Change‬
Net Special Commission Income	1,716.68	1,778.56	3.6 %
Operating Income	2,083.05	2,242.83	7.7 %
Debt Provisions	(349.50)	(474.73)	(35.8 %)
Net Income	960.87	902.68	(6.1 %)
Average Shares	1,205.36	1,205.36	-
EPS (Riyals)	0.80	0.75	(6.1 %)
EPS Diluted (Riyal)	0.75	0.71	(5.3 %)

BSF reported a 9% decline in Q4 2022 net profit to SAR 902.68 million from SAR 993.27 million a year earlier.

Net profit fell 6.1% from SAR 960.87 million in Q3 2022.

Shareholders’ equity, no minority interest after excluding sukuk, declined to SAR 33.74 billion as of Dec. 31, 2022, from SAR 34.68 billion a year earlier.

Balance Sheet (B)

Item	2021	2022	Change‬
Assets	215.80	232.08	7.5 %
Customer Deposits	141.95	157.59	11.0 %
Loan	147.81	159.01	7.6 %

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
Q1 2013	799.24	(0.3 %)	1,205.05	(1.2 %)	(127.84)	(108.7 %)
Q2 2013	830.50	(1.6 %)	1,282.64	0.0 %	(107.59)	24.0 %
Q3 2013	869.60	5.3 %	1,284.06	5.2 %	(169.01)	3.1 %
Q4 2013	863.96	3.6 %	1,280.78	(0.4 %)	(552.98)	(609.9 %)
2013	3,363.30	1.7 %	5,052.53	0.9 %	(957.42)	(110.3 %)
Q1 2014	896.55	12.2 %	1,401.17	16.3 %	(108.57)	15.1 %
Q2 2014	969.86	16.8 %	1,478.33	15.3 %	(105.37)	2.1 %
Q3 2014	980.13	12.7 %	1,486.66	15.8 %	(72.55)	57.1 %
Q4 2014	970.45	12.3 %	1,419.88	10.9 %	(34.44)	93.8 %
2014	3,816.98	13.5 %	5,786.04	14.5 %	(320.93)	66.5 %
Q1 2015	962.89	7.4 %	1,590.11	13.5 %	(37.20)	65.7 %
Q2 2015	1,016.15	4.8 %	1,578.73	6.8 %	(42.97)	59.2 %
Q3 2015	1,044.11	6.5 %	1,588.27	6.8 %	(50.23)	30.8 %
Q4 2015	1,032.13	6.4 %	1,534.38	8.1 %	(50.51)	(46.7 %)
2015	4,055.28	6.2 %	6,291.50	8.7 %	(180.90)	43.6 %
Q1 2016	1,062.82	10.4 %	1,644.92	3.4 %	(41.74)	(12.2 %)
Q2 2016	1,068.80	5.2 %	1,612.88	2.2 %	(36.58)	14.9 %
Q3 2016	1,107.55	6.1 %	1,587.64	0.0 %	(54.53)	(8.6 %)
Q4 2016	1,017.03	(1.5 %)	1,554.28	1.3 %	(635.53)	(1,158.2 %)
2016	4,256.19	5.0 %	6,399.71	1.7 %	(768.37)	(324.7 %)
Q1 2017	1,111.53	4.6 %	1,696.56	3.1 %	(29.04)	30.4 %
Q2 2017	1,167.37	9.2 %	1,630.39	1.1 %	(58.57)	(60.1 %)
Q3 2017	1,207.13	9.0 %	1,629.57	2.6 %	(55.68)	(2.1 %)
Q4 2017	1,213.64	19.3 %	1,619.68	4.2 %	(517.82)	18.5 %
2017	4,699.67	10.4 %	6,576.21	2.8 %	(497.96)	35.2 %
Q1 2018	1,256.00	13.0 %	1,647.17	(2.9 %)	(89.74)	(209.0 %)
Q2 2018	1,252.35	7.3 %	1,665.13	2.1 %	(126.18)	(115.4 %)
Q3 2018	1,261.35	4.5 %	1,696.39	4.1 %	(127.84)	(129.6 %)
Q4 2018	1,247.18	2.8 %	1,692.64	4.5 %	(566.73)	(9.4 %)
2018	5,016.87	6.7 %	6,701.33	1.9 %	(910.50)	(82.8 %)
Q1 2019	1,272.94	1.3 %	1,722.68	4.6 %	(144.17)	(60.6 %)
Q2 2019	1,297.53	3.6 %	1,706.43	2.5 %	(200.32)	(58.8 %)
Q3 2019	1,343.91	6.5 %	1,737.71	2.4 %	(226.22)	(77.0 %)
Q4 2019	1,291.30	3.5 %	1,705.72	0.8 %	(437.86)	22.7 %
2019	5,205.68	3.8 %	6,872.55	2.6 %	(1,008.57)	(10.8 %)
Q1 2020	1,287.24	1.1 %	1,756.94	2.0 %	(397.57)	(175.8 %)
Q2 2020	1,296.83	(0.1 %)	1,760.03	3.1 %	(634.32)	(216.7 %)
Q3 2020	1,375.04	2.3 %	1,750.75	0.8 %	(930.45)	(311.3 %)
Q4 2020	1,281.29	(0.8 %)	1,776.88	4.2 %	(853.99)	(95.0 %)
2020	5,240.39	0.7 %	7,044.59	2.5 %	(2,816.32)	(179.2 %)
Q1 2021	1,287.32	0.0 %	1,795.51	2.2 %	(290.08)	27.0 %
Q2 2021	1,330.43	2.6 %	1,753.66	(0.4 %)	(266.97)	57.9 %
Q3 2021	1,423.60	3.5 %	1,913.97	9.3 %	(296.34)	68.2 %
Q4 2021	1,332.10	4.0 %	1,724.70	(2.9 %)	(167.96)	80.3 %
2021	5,698.65	8.7 %	7,127.93	1.2 %	(961.43)	65.9 %
Q1 2022	1,414.85	9.9 %	1,821.04	1.4 %	(244.89)	15.6 %
Q2 2022	1,516.47	14.0 %	1,870.36	6.7 %	(294.82)	(10.4 %)
Q3 2022	1,716.68	20.6 %	2,083.05	8.8 %	(349.50)	(17.9 %)
Q4 2022	1,778.56	33.5 %	2,242.83	30.0 %	(474.73)	(182.7 %)
2022	6,426.55	12.8 %	8,017.28	12.5 %	(1,363.94)	(41.9 %)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
2013	3,363.30	1.7 %	5,052.53	0.9 %	(957.42)	(110.3 %)
2014	3,816.98	13.5 %	5,786.04	14.5 %	(320.93)	66.5 %
2015	4,055.28	6.2 %	6,291.50	8.7 %	(180.90)	43.6 %
2016	4,256.19	5.0 %	6,399.71	1.7 %	(768.37)	(324.7 %)
2017	4,699.67	10.4 %	6,576.21	2.8 %	(497.96)	35.2 %
2018	5,016.87	6.7 %	6,701.33	1.9 %	(910.50)	(82.8 %)
2019	5,205.68	3.8 %	6,872.55	2.6 %	(1,008.57)	(10.8 %)
2020	5,240.39	0.7 %	7,044.59	2.5 %	(2,816.32)	(179.2 %)
2021	5,698.65	8.7 %	7,127.93	1.2 %	(961.43)	65.9 %
2022	6,426.55	12.8 %	8,017.28	12.5 %	(1,363.94)	(41.9 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	683.86	(13.3 %)	0.57	-	683.86	0.57
Q2 2013	762.64	0.7 %	0.63	-	762.64	0.63
Q3 2013	685.44	3.6 %	0.57	-	685.44	0.57
Q4 2013	273.65	(66.1 %)	0.23	-	273.65	0.23
2013	2,405.58	(20.2 %)	2.00	-	2,405.58	2.00
Q1 2014	855.78	25.1 %	0.71	-	855.78	0.71
Q2 2014	884.24	15.9 %	0.73	-	884.24	0.73
Q3 2014	925.61	35.0 %	0.77	-	925.61	0.77
Q4 2014	850.71	210.9 %	0.71	-	850.71	0.71
2014	3,516.34	46.2 %	2.92	-	3,516.34	2.92
Q1 2015	1,050.38	22.7 %	0.87	-	1,050.38	0.87
Q2 2015	1,015.83	14.9 %	0.84	-	1,015.83	0.84
Q3 2015	1,020.25	10.2 %	0.85	-	1,020.25	0.85
Q4 2015	949.98	11.7 %	0.79	-	949.98	0.79
2015	4,036.44	14.8 %	3.35	-	4,036.44	3.35
Q1 2016	1,077.80	2.6 %	0.89	-	1,077.80	0.89
Q2 2016	1,048.19	3.2 %	0.87	-	1,048.19	0.87
Q3 2016	1,010.24	(1.0 %)	0.84	-	1,010.24	0.84
Q4 2016	374.01	(60.6 %)	0.31	-	374.01	0.31
2016	3,510.23	(13.0 %)	2.91	-	3,510.23	2.91
Q1 2017	1,103.89	2.4 %	0.92	-	1,103.89	0.92
Q2 2017	1,004.69	(4.1 %)	0.83	-	1,004.69	0.83
Q3 2017	1,000.54	(1.0 %)	0.83	-	1,000.54	0.83
Q4 2017	422.77	13.0 %	0.35	-	422.77	0.35
2017	3,531.88	0.6 %	2.93	-	3,531.88	2.93
Q1 2018	1,049.95	(4.9 %)	0.87	97.31	952.64	0.79
Q2 2018	841.31	(16.3 %)	0.70	-	841.31	0.70
Q3 2018	943.44	(5.7 %)	0.78	-	943.44	0.78
Q4 2018	(1431.68)	(438.6 %)	(1.19)	(1510.67)	78.99	0.07
2018	1,403.02	(60.3 %)	1.16	(1413.36)	2,816.38	2.34
Q1 2019	916.83	(12.7 %)	0.76	-	916.83	0.76
Q2 2019	803.63	(4.5 %)	0.67	-	803.63	0.67
Q3 2019	880.00	(6.7 %)	0.73	-	880.00	0.73
Q4 2019	514.51	135.9 %	0.43	-	514.51	0.43
2019	3,114.97	122.0 %	2.58	-	3,114.97	2.58
Q1 2020	682.08	(25.6 %)	0.57	-	682.08	0.57
Q2 2020	436.80	(45.6 %)	0.36	-	436.80	0.36
Q3 2020	333.39	(62.1 %)	0.28	-	333.39	0.28
Q4 2020	93.95	(81.7 %)	0.08	-	93.95	0.08
2020	1,546.21	(50.4 %)	1.28	-	1,546.21	1.28
Q1 2021	779.68	14.3 %	0.65	-	779.68	0.65
Q2 2021	769.68	76.2 %	0.64	-	769.68	0.64
Q3 2021	907.25	172.1 %	0.75	-	907.25	0.75
Q4 2021	993.27	957.3 %	0.82	-	993.27	0.82
2021	3,449.88	123.1 %	2.86	-	3,449.88	2.86
Q1 2022	874.57	12.2 %	0.73	-	874.57	0.73
Q2 2022	837.02	8.7 %	0.69	-	837.02	0.69
Q3 2022	960.87	5.9 %	0.80	-	960.87	0.80
Q4 2022	902.68	(9.1 %)	0.75	-	902.68	0.75
2022	3,575.13	3.6 %	2.97	-	3,575.13	2.97

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	2,405.58	(20.2 %)	2.00	-	2,405.58	2.00
2014	3,516.34	46.2 %	2.92	-	3,516.34	2.92
2015	4,036.44	14.8 %	3.35	-	4,036.44	3.35
2016	3,510.23	(13.0 %)	2.91	-	3,510.23	2.91
2017	3,531.88	0.6 %	2.93	-	3,531.88	2.93
2018	1,403.02	(60.3 %)	1.16	(1413.36)	2,816.38	2.34
2019	3,114.97	122.0 %	2.58	-	3,114.97	2.58
2020	1,546.21	(50.4 %)	1.28	-	1,546.21	1.28
2021	3,449.88	123.1 %	2.86	-	3,449.88	2.86
2022	3,575.13	3.6 %	2.97	-	3,575.13	2.97

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
Q1 2013	1.85 %	13.24 %	66.14 %
Q2 2013	1.86 %	13.15 %	65.87 %
Q3 2013	1.82 %	12.93 %	65.90 %
Q4 2013	1.47 %	10.48 %	66.57 %
2013	1.47 %	10.48 %	66.57 %
Q1 2014	1.48 %	10.85 %	65.93 %
Q2 2014	1.54 %	11.20 %	66.12 %
Q3 2014	1.67 %	12.12 %	65.71 %
Q4 2014	1.96 %	14.15 %	65.97 %
2014	1.96 %	14.15 %	65.97 %
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 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
2013	1.47 %	10.48 %	66.57 %
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 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
Q1 2013	163.99	9.0 %	119.26	5.9 %	105.81	8.6 %
Q2 2013	165.78	12.7 %	124.58	14.3 %	110.24	9.7 %
Q3 2013	168.04	8.4 %	124.96	6.9 %	112.57	10.1 %
Q4 2013	170.06	7.8 %	131.60	13.9 %	111.31	8.3 %
Q1 2014	184.28	12.4 %	137.91	15.6 %	114.84	8.5 %
Q2 2014	184.31	11.2 %	134.41	7.9 %	117.39	6.5 %
Q3 2014	183.24	9.0 %	131.94	5.6 %	118.22	5.0 %
Q4 2014	188.78	11.0 %	145.28	10.4 %	116.54	4.7 %
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 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
3m 2013	163.99	9.0 %	119.26	5.9 %	105.81	8.6 %
6m 2013	165.78	12.7 %	124.58	14.3 %	110.24	9.7 %
9m 2013	168.04	8.4 %	124.96	6.9 %	112.57	10.1 %
12m 2013	170.06	7.8 %	131.60	13.9 %	111.31	8.3 %
3m 2014	184.28	12.4 %	137.91	15.6 %	114.84	8.5 %
6m 2014	184.31	11.2 %	134.41	7.9 %	117.39	6.5 %
9m 2014	183.24	9.0 %	131.94	5.6 %	118.22	5.0 %
12m 2014	188.78	11.0 %	145.28	10.4 %	116.54	4.7 %
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 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
2013	170.06	7.8 %	131.60	13.9 %	111.31	8.3 %
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 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
Q1 2013	72.72 %	64.52 %	88.73 %
Q2 2013	75.14 %	66.49 %	88.49 %
Q3 2013	74.36 %	66.99 %	90.09 %
Q4 2013	77.39 %	65.45 %	84.58 %
Q1 2014	74.84 %	62.32 %	83.27 %
Q2 2014	72.92 %	63.69 %	87.34 %
Q3 2014	72.00 %	64.52 %	89.60 %
Q4 2014	76.96 %	61.73 %	80.22 %
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 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
2013	77.39 %	65.45 %	84.58 %
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 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2013	1,205.36	2.41	2.41	-	19.38
Q2 2013	1,205.36	2.42	2.42	-	19.08
Q3 2013	1,205.36	2.44	2.44	-	19.31
Q4 2013	1,205.36	2.00	2.00	-	19.26
Q1 2014	1,205.36	2.14	2.14	-	20.03
Q2 2014	1,205.36	2.24	2.24	-	20.92
Q3 2014	1,205.36	2.44	2.44	-	20.94
Q4 2014	1,205.36	2.92	2.92	2.92	21.96
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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2013	1,205.36	2.00	2.00	-	19.26
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

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	9.48	9.48	1.18
Q2 2013	10.05	10.05	1.27
Q3 2013	10.52	10.52	1.33
Q4 2013	13.12	13.12	1.36
Q1 2014	14.21	14.21	1.52
Q2 2014	13.62	13.62	1.46
Q3 2014	15.70	15.70	1.83
Q4 2014	10.73	10.73	1.43
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

Period	P/E	Adjusted P/E	Price/book
2013	13.12	13.12	1.36
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

Business Segments (Million)

Compared With The

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage
Q1 2013	356.29	629.23	149.70	69.83
Q2 2013	365.86	637.15	201.95	77.68
Q3 2013	363.05	637.84	220.42	62.75
Q4 2013	365.16	614.76	234.13	66.73
Q1 2014	359.17	641.86	317.26	82.88
Q2 2014	363.90	677.81	323.07	113.54
Q3 2014	358.79	710.77	327.64	89.46
Q4 2014	337.63	710.37	295.37	76.51
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

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage
2013	1,450.36	2,518.98	806.20	276.99
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

Analysts Estimates (Million)

Item	Q4 2022 (e)	Q4 2022 (a)	Change‬
Average	1,037.40	902.68	(13.0 %)

Estimates vs Actual (Million)

Item	Q4 2022 (e)	Q4 2022 (a)	Change
Sico	946.00	902.68	(4.6) %
Goldman Sachs	1,013.00	902.68	(10.9) %
FAB Securities	1,014.00	902.68	(11.0) %
Riyad Capital	1,022.00	902.68	(11.7) %
Hermes	1,044.00	902.68	(13.5) %
SNB Capital	1,069.00	902.68	(15.6) %
OSOOL AND BAKHEET	1,153.80	902.68	(21.8) %

Financial Ratios

	Current
Market Cap (M Riyal)	37,668.75
Shares Outstanding ((M))	1,205.40
EPS ( Riyal) (TTM)	3.53
EPS Diluted ( Riyal) (TTM)	3.35
Book Value (BV) ( Riyal)	31.62
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	8.85
P/E (TTM)	8.85
Price/book	0.99
Return on Average Assets (%) (TTM)	1.6
Return on Average Equity (%) (TTM)	11.8

Banque Saudi Fransi (BSF)

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Banque Saudi Fransi’s profit rises 4% to SAR 3.57 bln; Q4 falls to SAR 902.7 mln

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Banque Saudi Fransi’s profit rises 4% to SAR 3.57 bln; Q4 falls to SAR 902.7 mln

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Financials (M)

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Profit Performance (Million)

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Profitability

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