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BANQUE SAUDI FRANSI ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31-03-2019 ( THREE MONTHS)

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Total Revenue for Special Commissions/Investments 1,8461,60714.8721,8320.764
Net Income for Special Commissions/Investments 1,2731,2561.3531,2472.085
Total operation Profit (Loss) 1,7231,744-1.2041,6931.772
Net Profit (Loss) 1,1261,1121.258269318.587
Total Comprehensive Income 1,65595573.298683142.313
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after deducting minority equity) 32,19831,6941.59
Assets 189,990184,0183.245
Investments 33,68327,42822.805
Loans and advances portfolio 121,274123,883-2.106
Customer deposits 144,820141,9442.026
Profit (Loss) per Share 0.940.93
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year Net Income increased due to decrease in Total Operating Expenses by 6.1%.This decrease in Total Operating Expenses was primarily due to reduction in salaries and employee related expenses, rent and premises, other operating expenses and other general and administrative expenses which was partially offset by increase in impairment charge for credit losses and depreciation and amortization.

Total Operating Income decreased by 1.2% driven by higher fee and commission income, trading income and net special commission income which was offset by an exceptional gain of SAR 97.3 million on partial sale of Allianz Saudi Fransi recognized last year.

Reason for increase (decrease) in net profit for current quarter compared to the previous quarter Net Income increased due to decrease in Total Operating Expenses by 58.12%. This decrease in Total operating expenses was primarily due to lower Impairment charge for credit losses and Impairment charge for other financial assets.

While, Total Operating Income also increased by 1.77% mainly due to higher net special commission income, fee and commission income and gain on non-trading investments which was partially offset by a reduction in exchange income and other operating income.

Type of the external auditor's opinion Unmodified opinion
External auditor's report containing reservation None
Reclassifications in quarter financial result Certain prior period numbers have been restated to conform to the current period presentation.
Additional Information EPS for the current and the previous years are calculated by dividing the net income for the periods by the weighted average number of shares outstanding after excluding treasury shares.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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