Banque Saudi Fransi’s net profit for the first half of 2016 reached approximately SAR 2,126 million, compared to SAR 2,066 million for the same period of the previous year, representing an increase of 2.90%, continuing to achieve the same positive results recorded in 2015 and the first quarter of 2016, which exceeded the medium-term plan targets.

The bank also recorded a net profit for the second quarter of 2016 of 1,048 million riyals, an increase of 3.15% compared to the same period of the previous year. Total operating profit for the first half of 2016 reached SAR 3,230 million, compared to SAR 3,169 million for the same period of the previous year, representing an increase of 1.92%, supported by strong and balanced revenues from all business sectors.

Net special commission income rose to SAR 2,104 million, an increase of 6.32% compared to SAR 1,979 million achieved in the same period of 2015, driven by sustained growth in the loan portfolio, particularly since the beginning of the year, resulting in a loan and advance portfolio of 129,637 million riyals for the first six months of 2016, an increase of 3.681% over the same period last year. Customer deposits also reached 138,810 million riyals for the first six months of 2016, a slight decrease of 2.68% compared to 2015.

As a result, earnings per share for the first half of 2016 reached 1.76 riyals, compared to 1.71 riyals for the same period in 2015. These strong results enabled the bank to announce a cash dividend of 0.55 Saudi riyals per share for the first half of fiscal year 2016, an increase of 10% compared to 0.50 Saudi riyals for the same period last year.