Riyadh – Mubasher: Banque Saudi Fransi generated SAR 4.22 billion in net profit during January-December 2023, up 18.12% year-on-year (YoY) from SAR 3.57 billion.
The bank posted 9.28% higher clients’ deposits at SAR 172.20 billion in 2023, compared to SAR 157.59 billion in 2022, according to the financial results.
Earnings per share (EPS) reached SAR 3.33 last year, marking a growth from SAR 2.79 as of 31 December 2022.
The assets increased by 9.18% YoY to SAR 253.38 billion in 2023 from SAR 232.07 billion, while the investments rose by 8.87% YoY to SAR 48.46 billion from SAR 44.51 billion.
As of 30 September 2023, the bank’s net profits amounted to SAR 3.39 billion, an annual surge of 27.06% from SAR 2.67 billion.
Dividends
The board members recommended cash dividends after Zakat worth SAR 1.19 billion for the second half (H2) of 2023.
Banque Saudi Fransi will disburse a dividend of SAR 1 per share for 1.19 billion eligible shareholders.
Meanwhile, the eligibility and distribution dates for the dividends will be announced at a later time.
The Saudi Central Bank (SAMA) greenlighted the proposed dividends, which account for 10% of the share nominal value, on 5 February 2024.
In August 2023, the lender paid out a total of SAR 1.13 billion as cash dividends for H1-23.
