Banque Saudi Fransi’s profits climbs by 23% in Q1

Banque Saudi Fransi’s profits jumped by 23 percent to reach $ 286,903,026 in the first quarter of 2023, while the profits increased on a quarterly basis by 19 percent, Al Arabiya reported on Sunday.

The increase in the bank’s net profits comes in line with an increase in the total operating income by 27.29 percent, with an increase in the total operating expenses by 32.17, Banque Saudi Fransi said.

The increase in the total operating income is impacted by the increase in net special commission income and foreign exchange income, which is met by a decrease in trading income.

However, the increase in the total operating expenses lead to an increase in the net loan and credit loss provision, staff salaries and expenses, other operational expenses and G&A expenses.