Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Sunday posted a 13.1% year-on-year surge in its profits during the fourth quarter of 2017.
BSF’s profits hit SAR 423 million in Q4-17, compared to SAR 374 million in the same period a year earlier, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, the Tadawul-listed lender's profits slid 58% or SAR 1 billion.
The kingdom's fifth-largest bank by assets attributed the rise in fourth-quarter profits to a 4.25% growth in operating income due to an increase in net special commission income.
BSF’s profits inched up 0.63% to SAR 3.53 billion during the full-year 2017, compared to SAR 3.51 billion a year earlier.
Earlier on Sunday, the bank’s board of directors recommended distributing cash dividends at SAR 0.35 per share after zakat’s deduction for the Q2-17.
Total dividend distributions amount to SAR 419.8 million, representing 3.5% of the shares’ par value.
Eligibility will be for shareholders registered in the group’s registry at the depository centre by the end of trading following the shareholders meeting.
Distributions’ date will be announced later, the Saudi Arabia-based bank said.
