Banque Saudi Fransi Chairman H E Dr. Saleh Al-Omair says that BSF annual net income for 2011 amounted to SR 2,911 Million against SR 2,801 Million for the same period last year with an increase of 3.9%.

Earnings per Share during 12 months amounted to SR 4.03 against SR 3.87 for the corresponding period of the previous year.

Total operating income during 12 months amounted to SR 4,585 Million compared to SR 4,395 Million for the same period last year with an increase of 4.3%.

Net special commission income during 12 months amounted to SR 3,137 Million compared to SR 3,066 Million for the same period last year with an increase of 2.3%.

Assets as of year ended December 31, 2011 amounted to SR 140.4 Billion against SR 123.2 Billion for the previous year with an increase of 14%. Investments as of year ended December 31, 2011 amounted to SR 16.8 Billion against SR 20 Billion for the previous year with a decrease of 16%. Loan and Advances Portfolio as of year ended December 31, 2011 amounted to SR 92.3 Billion against SR 81 Billion for the previous year with an increase of 14%. Customers Deposits as of year ended December 31, 2011 amounted to SR 110 Billion against SR 93.5 Billion for the previous year with an increase of 17.6%.

Net income for Q4 2011 amounted to SR 661 Million, compared to SR 709 Million for the same quarter last year with a decrease of 6.8% and compared to Q3 2011 net income of SR 760 Million with a decrease of 13%.

Total Operating Income for Q4 2011 amounted to SR 1,108 Million compared to SR 1,084 Million for the same quarter last year with an increase of 2.2%.

Net Special commission income for Q4 2011 amounted to SR 783 Million compared to SR 789 Million for the same quarter last year with a decrease of 0.8%.

Net income for the 4th Quarter 2011 recorded a decrease compared to the 4th Quarter of the previous year and against the 3rd Quarter 2011 due to higher operating expenses whereas net income for the twelve months ended on 31 December 2011 rose compared to the corresponding period of 2010 due to the increase in operating income.

BSF's Chairman HE Dr. Saleh al Omair appreciated the growth witnessed by the bank despite the persisting challenges for the global financial community. He expressed his sincere thanks to all stakeholders and customers for their continued confidence and support for the bank and congratulated BSF staff for their commendable performance.

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