BANQUE SAUDI FRANSI

(A SAUDI JOINT STOCK COMPANY)

INTERIM CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

FOR THE SIX MONTHS PERIOD ENDED

JUNE 30, 2023

BANQUE SAUDI FRANSI (A Saudi Joint Stock Company)

Page 1

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at

SAR '000

Notes

Jun 30, 2023

Dec 31, 2022

Jun 30, 2022

(Unaudited)

(Audited)

(Unaudited)

ASSETS

Cash and balances with SAMA

5

10,083,554

11,325,586

12,811,715

Due from banks and other financial institutions, net

6

3,795,200

4,795,111

4,245,793

Investments, net

7

49,177,581

44,517,549

43,505,357

Positive fair value of derivatives

12

6,370,069

6,582,980

4,695,090

Loans and advances, net

8

169,695,132

159,011,525

159,624,824

Investment in associate, net

9,695

9,695

9,695

Property, equipment and right of use assets, net

1,864,116

1,739,307

1,688,518

Other real estate, net

343,359

342,050

362,234

Other assets, net

4,379,504

3,754,316

4,323,709

Total assets

245,718,210

232,078,119

231,266,935

LIABILITIES AND EQUITY

Liabilities

Due to SAMA

9

10,800,898

8,004,403

15,396,984

Due to banks and other financial institutions

10

11,965,130

8,766,039

5,726,778

Customers' deposits

11

161,164,696

157,592,320

157,919,459

Negative fair value of derivatives

12

7,434,620

7,383,707

4,956,366

Debt securities and term loans

20

8,232,625

4,515,254

-

Other liabilities

6,424,186

7,071,071

9,525,624

Total liabilities

206,022,155

193,332,794

193,525,211

Equity

Share capital

12,053,572

12,053,572

12,053,572

Statutory reserve

12,053,572

12,053,572

12,053,572

General reserve

982,857

982,857

982,857

Other reserves

(2,072,321)

(2,090,067)

(1,393,800)

Retained earnings

11,805,434

9,768,005

9,096,498

Proposed dividend

-

1,079,633

-

Treasury shares

(127,059)

(102,247)

(50,975)

Equity attributable to the shareholders of the Bank

34,696,055

33,745,325

32,741,724

Tier 1 Sukuk

15

5,000,000

5,000,000

5,000,000

Total equity

39,696,055

38,745,325

37,741,724

Total liabilities and equity

245,718,210

232,078,119

231,266,935

The accompanying notes 1 to 25 form an integral part of these interim condensed consolidated financial statements.

BANQUE SAUDI FRANSI (A Saudi Joint Stock Company)

Page 2

INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME

Unaudited

SAR '000

For the three months ended

For the six months ended

Jun 30, 2023

Jun 30, 2022

Jun 30, 2023

Jun 30, 2022

Special commission income

3,226,118

1,834,900

6,222,619

3,398,918

Special commission expense

1,250,607

318,433

2,323,150

467,605

Net special commission income

1,975,511

1,516,467

3,899,469

2,931,313

Fee and commission income

347,329

351,841

702,743

707,105

Fee and commission expense

136,360

142,550

256,456

263,684

Net fee and commission income

210,969

209,291

446,287

443,421

Exchange income, net

100,286

98,749

223,915

198,132

Trading income, net

48,341

41,371

79,248

107,769

Dividend income

3,535

4,335

6,914

7,080

Gains on FVOCI / non-trading investments, net

3,973

65

4,422

2,784

Other operating income

4,726

82

5,166

904

Total operating income

2,347,341

1,870,360

4,665,421

3,691,403

Salaries and employee related expenses

409,320

361,886

831,295

690,974

Rent and premises related expenses

17,501

18,347

32,532

31,736

Depreciation and amortization

54,588

57,685

113,224

112,639

Other operating and general and administrative expenses

242,227

210,117

458,751

417,175

Total operating expenses before impairment charge

723,636

648,035

1,435,802

1,252,524

Impairment charge for expected credit losses on loans and

427,006

294,821

912,058

539,711

advances, net

Impairment charge / (reversal) for investments, financial

3,622

(727)

(75,520)

(4,197)

assets and others, net

Total operating expenses, net

1,154,264

942,129

2,272,340

1,788,038

Net income for the period before Zakat

1,193,077

928,231

2,393,081

1,903,365

Zakat for the period

119,725

91,216

243,326

191,778

Net income for the period

1,073,352

837,015

2,149,755

1,711,587

Basic and diluted earnings per share (SAR)

0.85

0.65

1.70

1.33

The accompanying notes 1 to 25 form an integral part of these interim condensed consolidated financial statements.

BANQUE SAUDI FRANSI (A Saudi Joint Stock Company)

Page 3

INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Unaudited

For the three months ended

For the six months ended

SAR '000

Jun 30, 2023

Jun 30, 2022

Jun 30, 2023

Jun 30, 2022

Net income for the period

1,073,352

837,015

2,149,755

1,711,587

Other comprehensive income / (loss):

Items that cannot be recycled back to interim condensed

consolidated statement of income in subsequent periods

Movement in equity instruments at fair value through other

comprehensive income

Net change in the fair value

23,016

(74,760)

33,936

(79,380)

Items that can be recycled back to interim condensed

consolidated statement of income in subsequent periods

Debt instruments at fair value through other comprehensive

income

Net change in the fair value

(18,152)

(232,680)

46,901

(599,263)

Net change in ECL

1,103

1,345

(995)

90

Income transferred to interim condensed consolidated

(3,973)

(65)

(4,422)

(2,784)

statement of income

Cash flow hedge

Net change in the fair value

(358,431)

(174,746)

(404,134)

(759,794)

Loss / (income) transferred to interim condensed consolidated

196,433

(58,592)

346,460

(181,376)

statement of income

Total other comprehensive (loss) / income for the period

(160,004)

(539,498)

17,746

(1,622,507)

Total comprehensive income for the period

913,348

297,517

2,167,501

89,080

The accompanying notes 1 to 25 form an integral part of these interim condensed consolidated financial statements.

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Banque Saudi Fransi SJSC published this content on 01 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2023 16:25:32 UTC.