In a statement yesterday, Banque Saudi-Fransi reported a 15.6% rise in profits for the first six months of the year 2003 compared to the corresponding period last year.
The bank posted SR587.4 million ($156.6 million) on 30 June this year, compared to SR507.7 million ($135.4 million) after the same period last year, the statement said.
Total assets of the bank on 30 June 2003 increased by 10.9% to $13.25 billion, from $11.95 billion after the same period last year.
Chairman of the Bank, Ibrahim Al-Touk, attributed the rise in profits to an improvement of the bank’s performance and an increase in customer deposits, which reached $10 billion.
Source: SPA
