Banque Saudi Fransi’s net profit up 11% to SAR 1.712 bln in H1 2022; Q2 rises 9% to SAR 837 mln

27/07/2022 Argaam Exclusive

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Banque Saudi Fransi (BSF) reported an 11% increase in H1 2022 net profit to SAR 1.712 billion, compared to SAR 1.549 billion in the prior-year period.

The bank attributed the increase in net profit to a 5.6% year-on-year (YoY) rise in operating income, due to higher net special commission income, foreign exchange income and other operating income, which was partially offset by lower net fee and commission income.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Net Special Commission Income	2,617.75	2,931.31	12.0 %
Operating Income	3,549.17	3,691.40	4.0 %
Total Provisions	(557.05)	(539.71)	3.1 %
Net Income	1,549.36	1,711.59	10.5 %
Average Shares	1,205.36	1,205.36	-
EPS (Riyals)	1.29	1.42	10.5 %
EPS Diluted (Riyals)	1.21	1.33	9.9 %

On the other hand, total operating expenses saw an increase of 3.1% YoY.

The second-quarter net profit grew 9% to SAR 837 million, from SAR 769.68 million in Q2 2021, thanks to a rise of 8.1% YoY in total operating income, due to higher net special commission income, trading income and foreign exchange income.

BSF’s net profit decreased by 4.3% from SAR 874.56 million in the previous quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2021	Q2 2022	Change‬
Net Special Commission Income	1,330.43	1,516.47	14.0 %
Operating Income	1,753.66	1,870.36	6.7 %
Debt Provisions	(266.97)	(294.82)	(10.4 %)
Net Income	769.68	837.02	8.7 %
Average Shares	1,205.36	1,205.36	-
EPS (Riyals)	0.64	0.69	8.7 %
EPS Diluted (Riyal)	0.59	0.65	10.2 %

Item	Q1 2022	Q2 2022	Change‬
Net Special Commission Income	1,414.85	1,516.47	7.2 %
Operating Income	1,821.04	1,870.36	2.7 %
Debt Provisions	(244.89)	(294.82)	(20.4 %)
Net Income	874.57	837.02	(4.3 %)
Average Shares	1,205.36	1,205.36	-
EPS (Riyals)	0.73	0.69	(4.3 %)
EPS Diluted (Riyal)	0.68	0.65	(4.4 %)

Shareholders’ equity, after minority interest, declined to SAR 32.742 billion by the end of H1 2022, from SAR 34.259 billion a year earlier.

Balance Sheet (B)

Item	6m 2021	6m 2022	Change‬
Assets	211.31	231.27	9.4 %
Customer Deposits	140.80	157.92	12.2 %
Loan	141.81	159.62	12.6 %

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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 %)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
2012	3,305.78	5.4 %	5,009.55	9.3 %	(455.18)	(188.3 %)
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 %

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

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	3,015.14	3.6 %	2.50	-	3,015.14	2.50
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

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 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
2012	2.02 %	14.24 %	65.99 %
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 %

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 %

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 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
2012	157.78	12.3 %	115.57	5.1 %	102.79	11.3 %
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 %

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 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
2012	73.25 %	65.15 %	88.94 %
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 %

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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2012	1,205.36	2.50	2.50	-	18.82
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

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

Period	P/E	Adjusted P/E	Price/book
2012	8.82	8.82	1.17
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

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

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage
2012	1,415.05	2,337.38	920.71	336.40
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

Analysts Estimates (Million)

Item	Q2 2022 (e)	Q2 2022 (a)	Change‬
Average	871.61	837.02	(4.0 %)

Estimates vs Actual (Million)

Item	Q2 2022 (e)	Q2 2022 (a)	Change
Riyad Capital	839.00	837.02	(0.2) %
Hermes	840.00	837.02	(0.4) %
Goldman Sachs	807.62	837.02	3.6 %
Sico	870.00	837.02	(3.8) %
Arqaam Capital	873.00	837.02	(4.1) %
FAB Securities	889.00	837.02	(5.8) %
OSOOL AND BAKHEET	910.29	837.02	(8.0) %
SNB Capital	944.00	837.02	(11.3) %

Financial Ratios

	Current
Market Cap (M Riyal)	39,657.66
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)	9.32
P/E (TTM)	9.32
Price/book	1.04
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 net profit up 11% to SAR 1.712 bln in H1 2022; Q2 rises 9% to SAR 837 mln

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Banque Saudi Fransi’s net profit up 11% to SAR 1.712 bln in H1 2022; Q2 rises 9% to SAR 837 mln

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Financials (M)

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Financial results (Million)

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Profit Performance (Million)

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