Banque Saudi Fransi FY2024 Net Income Rises 8% to SAR 4.54 Billion on 35% Q4 Rise

Banque Saudi Fransi reported full-year 2024 net income of SAR 4,544 million, a 7.6% increase year-on-year, the Saudi lender disclosed on 29 January 2025.

Total revenue for the year reached SAR 9.66 billion, up 3.6% year-on-year, with earnings per share of SAR 1.82 (SAR 1.72 diluted). Growth was driven mainly by a 26% fall in net impairment charges, while net special commission income edged up 0.6% and total operating expenses fell 0.6%.

Q4 PROFIT UP 35% YEAR-ON-YEAR

Fourth-quarter net income was SAR 1.12 billion, a 35% increase compared with the same period a year earlier. On a sequential basis, fourth-quarter profit was 2.7% lower than the third quarter.

The Saudi Central Bank's policy rate, which tracks the US Federal Reserve, stayed high despite three cuts from September 2024.

MARKET POSITION

Banque Saudi Fransi occupies a mid-tier position within Saudi Arabia's concentrated banking landscape, competing with larger institutions including Al Rajhi Bank and Saudi National Bank. Full details of the financial results were published on the bank's investor relations page on the date of disclosure.