Riyadh – Mubasher: Banque Saudi Fransi generated 6% higher net profits at SAR 2.27 billion in the first half (H1) of 2024, compared to SAR 2.15 billion in H1-23.
Earnings per share (EPS) hit SAR 1.81 in H1-24, higher year-on-year (YoY) than SAR 1.70, according to the interim financials.
The lender reported clients' deposits valued at SAR 196.24 billion in the first six months (6M) of 2024, an annual rise of 21.76% from SAR 161.16 billion.
Assets grew by 17.54% to SAR 288.82 billion in H1-24 from SAR 245.71 billion a year earlier, while the investments climbed by 12.86% to SAR 55.50 billion from SAR 49.15 billion.
Financials for Q2-24
In the second quarter (Q2) of 2024, the Saudi lender's net profits reached SAR 1.12 billion, marking an annual surge of 5.21% from SAR 1.07 billion.
On a quarterly basis, the Q2-24 net profits fell by 1.82% from SAR 1.15 billion Q1-24.
Dividends
The bank’s board recommended cash dividends after Zakat standing at SAR 1.19 billion, representing 10% of the share capital, for H1-24.
Banque Saudi Fransi will pay out a dividend of SAR 1 per share for 1.19 billion eligible shares.
Eligibility and distribution dates will be 7 and 26 August 2024, respectively.
