BSF's 2024 profit rises 8% to SAR 4.54B; Q4 at SAR 1.12B

29/01/2025 Argaam Exclusive

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Banque Saudi Fransi (BSF) reported a net profit of SAR 4.54 billion for 2024, an increase of 7.6% from SAR 4.22 billion in the year before.

Financials (M)

Item	2023	2024	Change‬
Net Special Commission Income	7,835.20	7,883.38	0.6 %
Operating Income	9,323.99	9,657.68	3.6 %
Total Provisions	(1668.82)	(1143.90)	31.5 %
Net Income	4,222.73	4,544.07	7.6 %
Average Shares	2,500.00	2,500.00	-
Earnings Per Share before unusual items	1.69	1.82	7.6 %
EPS (Riyals)	1.69	1.82	7.6 %
EPS Diluted (Riyals)	1.61	1.72	7.1 %

The profit growth was driven by a leap of 23.9% year-on-year (YoY) in gross special commission income due to higher returns from financing and investments. Net special commission income also increased by 0.6% YoY.

Total operating income increased by 3.6% YoY, while total operating expenses fell by 0.6%.

Net impairment charges for financing and other financial assets decreased by 26% due to lower impairment charges on loans and advances by 31.5%, which was partially offset by higher impairment charges for other financial assets.

BSF reported a 35% leap in Q4 2024 net profit to SAR 1.12 billion, from SAR 827.48 million a year earlier.

Meanwhile, net profit fell 2.7% quarter-on-quarter from SAR 1.14 billion in Q3 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Net Special Commission Income	1,867.74	2,039.33	9.2 %
Operating Income	2,190.94	2,572.04	17.4 %
Debt Provisions	(405.97)	(322.69)	20.5 %
Net Income	827.48	1,116.80	35.0 %
Average Shares	2,500.00	2,500.00	-
Earnings Per Share before unusual items	0.33	0.45	35.0 %
EPS (Riyals)	0.33	0.45	35.0 %
EPS Diluted (Riyal)	0.31	0.41	33.7 %

Item	Q3 2024	Q4 2024	Change‬
Net Special Commission Income	1,985.62	2,039.33	2.7 %
Operating Income	2,412.01	2,572.04	6.6 %
Debt Provisions	(252.06)	(322.69)	(28.0 %)
Net Income	1,148.12	1,116.80	(2.7 %)
Average Shares	2,500.00	2,500.00	-
Earnings Per Share before unusual items	0.46	0.45	(2.7 %)
EPS (Riyals)	0.46	0.45	(2.7 %)
EPS Diluted (Riyal)	0.43	0.41	(4.8 %)

Balance Sheet (B)

Item	2023	2024	Change‬
Assets	253.67	292.78	15.4 %
Customer Deposits	172.21	185.12	7.5 %
Loan	179.39	204.17	13.8 %

Shareholders’ equity, excluding minority interest and after deducting sukuk, rose to SAR 38.61 billion as of Dec. 31, 2024, from SAR 36.40 billion a year earlier.

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Financial results (Million)

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
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 %)
Q1 2023	1,923.96	36.0 %	2,318.08	27.3 %	(485.05)	(98.1 %)
Q2 2023	1,975.51	30.3 %	2,347.34	25.5 %	(427.01)	(44.8 %)
Q3 2023	2,067.99	20.5 %	2,467.63	18.5 %	(350.79)	(0.4 %)
Q4 2023	1,867.74	5.0 %	2,190.94	(2.3 %)	(405.97)	14.5 %
2023	7,835.20	21.9 %	9,323.99	16.3 %	(1,668.82)	(22.4 %)
Q1 2024	1,918.53	(0.3 %)	2,331.29	0.6 %	(278.64)	42.6 %
Q2 2024	1,939.91	(1.8 %)	2,342.35	(0.2 %)	(290.52)	32.0 %
Q3 2024	1,985.62	(4.0 %)	2,412.01	(2.3 %)	(252.06)	28.1 %
Q4 2024	2,039.33	9.2 %	2,572.04	17.4 %	(322.69)	20.5 %
2024	7,883.38	0.6 %	9,657.68	3.6 %	(1,143.90)	31.5 %

Period	Net Special Commission Income	Change	Operating Income	Change	Debt Provisions	Change
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 %)
2023	7,835.20	21.9 %	9,323.99	16.3 %	(1,668.82)	(22.4 %)
2024	7,883.38	0.6 %	9,657.68	3.6 %	(1,143.90)	31.5 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
Q1 2015	1,050.38	22.7 %	0.42	-	1,050.38	0.42
Q2 2015	1,015.83	14.9 %	0.41	-	1,015.83	0.41
Q3 2015	1,020.25	10.2 %	0.41	-	1,020.25	0.41
Q4 2015	949.98	11.7 %	0.38	-	949.98	0.38
2015	4,036.44	14.8 %	1.61	-	4,036.44	1.61
Q1 2016	1,077.80	2.6 %	0.43	-	1,077.80	0.43
Q2 2016	1,048.19	3.2 %	0.42	-	1,048.19	0.42
Q3 2016	1,010.24	(1.0 %)	0.40	-	1,010.24	0.40
Q4 2016	374.01	(60.6 %)	0.15	-	374.01	0.15
2016	3,510.23	(13.0 %)	1.40	-	3,510.23	1.40
Q1 2017	1,103.89	2.4 %	0.44	-	1,103.89	0.44
Q2 2017	1,004.69	(4.1 %)	0.40	-	1,004.69	0.40
Q3 2017	1,000.54	(1.0 %)	0.40	-	1,000.54	0.40
Q4 2017	422.77	13.0 %	0.17	-	422.77	0.17
2017	3,531.88	0.6 %	1.41	-	3,531.88	1.41
Q1 2018	1,049.95	(4.9 %)	0.42	97.31	952.64	0.38
Q2 2018	841.31	(16.3 %)	0.34	-	841.31	0.34
Q3 2018	943.44	(5.7 %)	0.38	-	943.44	0.38
Q4 2018	(1431.68)	(438.6 %)	(0.57)	(1510.67)	78.99	0.03
2018	1,403.02	(60.3 %)	0.56	(1413.36)	2,816.38	1.13
Q1 2019	916.83	(12.7 %)	0.37	-	916.83	0.37
Q2 2019	803.63	(4.5 %)	0.32	-	803.63	0.32
Q3 2019	880.00	(6.7 %)	0.35	-	880.00	0.35
Q4 2019	514.51	135.9 %	0.21	-	514.51	0.21
2019	3,114.97	122.0 %	1.25	-	3,114.97	1.25
Q1 2020	682.08	(25.6 %)	0.27	-	682.08	0.27
Q2 2020	436.80	(45.6 %)	0.17	-	436.80	0.17
Q3 2020	333.39	(62.1 %)	0.13	-	333.39	0.13
Q4 2020	93.95	(81.7 %)	0.04	-	93.95	0.04
2020	1,546.21	(50.4 %)	0.62	-	1,546.21	0.62
Q1 2021	779.68	14.3 %	0.31	-	779.68	0.31
Q2 2021	769.68	76.2 %	0.31	-	769.68	0.31
Q3 2021	907.25	172.1 %	0.36	-	907.25	0.36
Q4 2021	993.27	957.3 %	0.40	-	993.27	0.40
2021	3,449.88	123.1 %	1.38	-	3,449.88	1.38
Q1 2022	874.57	12.2 %	0.35	-	874.57	0.35
Q2 2022	837.02	8.7 %	0.33	-	837.02	0.33
Q3 2022	960.87	5.9 %	0.38	-	960.87	0.38
Q4 2022	902.68	(9.1 %)	0.36	-	902.68	0.36
2022	3,575.13	3.6 %	1.43	-	3,575.13	1.43
Q1 2023	1,076.40	23.1 %	0.43	-	1,076.40	0.43
Q2 2023	1,073.35	28.2 %	0.43	-	1,073.35	0.43
Q3 2023	1,245.49	29.6 %	0.50	-	1,245.49	0.50
Q4 2023	827.48	(8.3 %)	0.33	-	827.48	0.33
2023	4,222.73	18.1 %	1.69	-	4,222.73	1.69
Q1 2024	1,149.97	6.8 %	0.46	-	1,149.97	0.46
Q2 2024	1,129.18	5.2 %	0.45	-	1,129.18	0.45
Q3 2024	1,148.12	(7.8 %)	0.46	-	1,148.12	0.46
Q4 2024	1,116.80	35.0 %	0.45	-	1,116.80	0.45
2024	4,544.07	7.6 %	1.82	-	4,544.07	1.82

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
2015	4,036.44	14.8 %	1.61	-	4,036.44	1.61
2016	3,510.23	(13.0 %)	1.40	-	3,510.23	1.40
2017	3,531.88	0.6 %	1.41	-	3,531.88	1.41
2018	1,403.02	(60.3 %)	0.56	(1413.36)	2,816.38	1.13
2019	3,114.97	122.0 %	1.25	-	3,114.97	1.25
2020	1,546.21	(50.4 %)	0.62	-	1,546.21	0.62
2021	3,449.88	123.1 %	1.38	-	3,449.88	1.38
2022	3,575.13	3.6 %	1.43	-	3,575.13	1.43
2023	4,222.73	18.1 %	1.69	-	4,222.73	1.69
2024	4,544.07	7.6 %	1.82	-	4,544.07	1.82

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
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 %
Q1 2023	1.63 %	10.89 %	81.46 %
Q2 2023	1.68 %	11.90 %	82.24 %
Q3 2023	1.79 %	12.81 %	82.62 %
Q4 2023	1.74 %	12.04 %	84.03 %
2023	1.74 %	12.04 %	84.03 %
Q1 2024	1.69 %	11.96 %	83.86 %
Q2 2024	1.63 %	12.17 %	83.52 %
Q3 2024	1.58 %	11.75 %	83.13 %
Q4 2024	1.66 %	12.12 %	81.63 %
2024	1.66 %	12.12 %	81.63 %

Period	Return On Average Assets	Return on Average Equity	Net Interest Income/Total Operating Income
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 %
2023	1.74 %	12.04 %	84.03 %
2024	1.66 %	12.12 %	81.63 %

Balance Sheet (B)

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
Q1 2023	240.24	8.1 %	167.41	11.0 %	164.78	7.9 %
Q2 2023	245.72	6.2 %	161.16	2.1 %	169.70	6.3 %
Q3 2023	249.86	7.9 %	166.37	5.4 %	174.68	10.2 %
Q4 2023	253.67	9.3 %	172.21	9.3 %	179.39	12.8 %
Q1 2024	268.38	11.7 %	174.83	4.4 %	185.41	12.5 %
Q2 2024	288.83	17.5 %	196.25	21.8 %	197.16	16.2 %
Q3 2024	287.67	15.1 %	193.34	16.2 %	201.01	15.1 %
Q4 2024	292.78	15.4 %	185.12	7.5 %	204.17	13.8 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
3m 2023	240.24	8.1 %	167.41	11.0 %	164.78	7.9 %
6m 2023	245.72	6.2 %	161.16	2.1 %	169.70	6.3 %
9m 2023	249.86	7.9 %	166.37	5.4 %	174.68	10.2 %
12m 2023	253.67	9.3 %	172.21	9.3 %	179.39	12.8 %
3m 2024	268.38	11.7 %	174.83	4.4 %	185.41	12.5 %
6m 2024	288.83	17.5 %	196.25	21.8 %	197.16	16.2 %
9m 2024	287.67	15.1 %	193.34	16.2 %	201.01	15.1 %
12m 2024	292.78	15.4 %	185.12	7.5 %	204.17	13.8 %

Period	Assets	Change	Customer Deposits	Change	Loan	Change
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 %
2023	253.67	9.3 %	172.21	9.3 %	179.39	12.8 %
2024	292.78	15.4 %	185.12	7.5 %	204.17	13.8 %

Ratios

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
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 %
Q1 2023	69.69 %	68.59 %	98.43 %
Q2 2023	65.59 %	69.06 %	105.29 %
Q3 2023	66.58 %	69.91 %	105.00 %
Q4 2023	67.89 %	70.72 %	104.17 %
Q1 2024	65.14 %	69.09 %	106.05 %
Q2 2024	67.95 %	68.26 %	100.46 %
Q3 2024	67.21 %	69.87 %	103.97 %
Q4 2024	63.23 %	69.74 %	110.29 %

Period	Customer Deposits Per Total Assets	Loans and advances/Total assets	Loans and advances/Customers Deposits
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 %
2023	67.89 %	70.72 %	104.17 %
2024	63.23 %	69.74 %	110.29 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
Q1 2015	2,500.00	1.48	1.48	1.48	11.22
Q2 2015	2,500.00	1.54	1.54	1.54	11.18
Q3 2015	2,500.00	1.57	1.57	1.58	11.34
Q4 2015	2,500.00	1.61	1.61	1.62	10.99
Q1 2016	2,500.00	1.63	1.63	1.63	11.62
Q2 2016	2,500.00	1.64	1.64	1.64	11.46
Q3 2016	2,500.00	1.63	1.63	1.63	11.39
Q4 2016	2,500.00	1.40	1.40	1.40	11.88
Q1 2017	2,500.00	1.41	1.41	1.42	12.31
Q2 2017	2,500.00	1.40	1.40	1.40	12.65
Q3 2017	2,500.00	1.39	1.39	1.40	12.62
Q4 2017	2,500.00	1.41	1.41	1.42	12.66
Q1 2018	2,500.00	1.39	1.35	1.42	12.68
Q2 2018	2,500.00	1.33	1.29	1.36	12.86
Q3 2018	2,500.00	1.30	1.26	1.34	12.75
Q4 2018	2,500.00	0.56	1.13	0.59	12.34
Q1 2019	2,500.00	0.51	1.11	0.51	12.90
Q2 2019	2,500.00	0.49	1.10	0.50	13.04
Q3 2019	2,500.00	0.47	1.07	0.47	13.04
Q4 2019	2,500.00	1.25	1.25	1.25	13.18
Q1 2020	2,500.00	1.15	1.15	1.16	13.58
Q2 2020	2,500.00	1.01	1.01	1.01	13.47
Q3 2020	2,500.00	0.79	0.79	0.79	13.47
Q4 2020	2,500.00	0.62	0.62	0.60	13.45
Q1 2021	2,500.00	0.66	0.66	0.62	13.68
Q2 2021	2,500.00	0.79	0.79	0.73	13.70
Q3 2021	2,500.00	1.02	1.02	0.94	13.70
Q4 2021	2,500.00	1.38	1.38	1.30	13.87
Q1 2022	2,500.00	1.42	1.42	1.33	13.77
Q2 2022	2,500.00	1.44	1.44	1.36	13.10
Q3 2022	2,500.00	1.47	1.47	1.38	13.12
Q4 2022	2,500.00	1.43	1.43	1.35	13.50
Q1 2023	2,500.00	1.51	1.51	1.43	13.97
Q2 2023	2,500.00	1.61	1.61	1.52	13.88
Q3 2023	2,500.00	1.72	1.72	1.64	13.71
Q4 2023	2,500.00	1.69	1.69	1.61	14.56
Q1 2024	2,500.00	1.72	1.72	1.64	14.77
Q2 2024	2,500.00	1.74	1.74	1.66	14.72
Q3 2024	2,500.00	1.70	1.70	1.62	15.25
Q4 2024	2,500.00	1.82	1.82	1.72	15.44

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	EPS Diluted (Riyal)	Book Value (BV)
2015	2,500.00	1.61	1.61	1.62	10.99
2016	2,500.00	1.40	1.40	1.40	11.88
2017	2,500.00	1.41	1.41	1.42	12.66
2018	2,500.00	0.56	1.13	0.56	12.34
2019	2,500.00	1.25	1.25	1.25	13.18
2020	2,500.00	0.62	0.62	0.60	13.45
2021	2,500.00	1.38	1.38	1.30	13.87
2022	2,500.00	1.43	1.43	1.35	13.50
2023	2,500.00	1.69	1.69	1.61	14.56
2024	2,500.00	1.82	1.82	1.72	15.44

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	10.86	10.86	1.44
Q2 2015	10.09	10.09	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	6.61	6.61	0.95
Q3 2016	6.21	6.21	0.89
Q4 2016	8.95	8.95	1.06
Q1 2017	8.81	8.81	1.01
Q2 2017	10.63	10.63	1.18
Q3 2017	10.43	10.43	1.15
Q4 2017	9.73	9.73	1.09
Q1 2018	9.96	10.24	1.12
Q2 2018	12.07	12.43	1.27
Q3 2018	12.04	12.41	1.26
Q4 2018	25.54	12.72	1.23
Q1 2019	35.02	16.00	1.39
Q2 2019	40.41	18.15	1.54
Q3 2019	33.31	14.53	1.19
Q4 2019	14.65	14.65	1.39
Q1 2020	10.78	10.78	0.92
Q2 2020	13.66	13.66	1.02
Q3 2020	19.70	19.70	1.16
Q4 2020	25.49	25.49	1.13
Q1 2021	25.86	25.86	1.18
Q2 2021	25.31	25.31	1.35
Q3 2021	21.42	21.42	1.47
Q4 2021	17.52	17.52	1.64
Q1 2022	19.48	19.48	1.88
Q2 2022	16.83	16.83	1.75
Q3 2022	14.69	14.69	1.54
Q4 2022	14.56	14.56	1.45
Q1 2023	12.24	12.24	1.25
Q2 2023	13.20	13.20	1.45
Q3 2023	10.74	10.74	1.28
Q4 2023	12.01	12.01	1.33
Q1 2024	11.24	11.24	1.24
Q2 2024	10.29	10.29	1.16
Q3 2024	9.61	9.61	1.02
Q4 2024	9.21	9.21	1.03

Period	P/E	Adjusted P/E	Price/book
2015	8.36	8.36	1.23
2016	8.95	8.95	1.06
2017	9.73	9.73	1.09
2018	26.86	13.38	1.23
2019	14.58	14.58	1.39
2020	25.49	25.49	1.13
2021	17.51	17.51	1.64
2022	14.56	14.56	1.45
2023	12.01	12.01	1.33
2024	9.21	9.21	1.03

Business Segments (Million)

Compared With The

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage
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
Q1 2023	804.07	1,047.59	370.01	96.41
Q2 2023	882.84	1,024.48	332.40	107.63
Q3 2023	949.73	1,137.48	252.71	127.71
Q4 2023	942.31	1,057.38	54.04	137.22
Q1 2024	1,040.50	1,163.67	7.65	119.48
Q2 2024	1,015.57	1,295.01	(114.54)	146.31
Q3 2024	964.15	1,346.32	(36.80)	138.34
Q4 2024	1,011.86	1,144.79	270.39	144.99

Period	Retail	Corporate and Institutional Banking	Global markets and Treasury	Investment Banking and Brokerage
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
2023	3,578.94	4,266.93	1,009.16	468.97
2024	4,032.08	4,949.78	126.70	549.12

Analysts Estimates (Million)

Item	Q4 2024 (e)	Q4 2024 (a)	Change‬
Average	1,134.13	1,116.80	(1.5 %)

Estimates vs Actual (Million)

Item	Q4 2024 (e)	Q4 2024 (a)	Change
SNB Capital	1,129.00	1,116.80	(1.1) %
OSOOL AND BAKHEET	1,103.52	1,116.80	1.2 %
Riyad Capital	1,131.00	1,116.80	(1.3) %
Sico	1,173.00	1,116.80	(5.0) %

Financial Ratios

	Current
Market Cap (M Riyal)	42,400.00
Shares Outstanding ((M))	2,500.00
EPS ( Riyal) (TTM)	1.82
EPS Diluted ( Riyal) (TTM)	1.72
Book Value (BV) ( Riyal)	15.44
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	9.33
P/E (TTM)	9.33
Price/book	1.10
Return on Average Assets (%) (TTM)	1.7
Return on Average Equity (%) (TTM)	12.1

Banque Saudi Fransi (BSF)

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BSF's 2024 profit rises 8% to SAR 4.54B; Q4 at SAR 1.12B

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BSF's 2024 profit rises 8% to SAR 4.54B; Q4 at SAR 1.12B

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Financials (M)

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Financial results (Million)

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Profit Performance (Million)

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Profitability

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