Banque Saudi Fransi 2020 AR2
The report highlights Banque Saudi Fransi's resilience and strategic progress during the challenging fiscal year 2020. Despite a 50% decline in net income to SAR 1,546 million due to prudent provisioning, the bank's operating income rose by 2.5% to SAR 7,045 million. The bank successfully navigated the COVID-19 pandemic by implementing remote working for staff, waiving various fees for customers, and actively participating in SAMA's support programs. Additionally, BSF advanced its five-year 'Leap' strategy, completing 26 initiatives including the first release of its new Core Banking System and raising SAR 5 billion in Tier 1 capital sukuk.
Company: Banque Saudi Fransi
Sector: Finance & insurance
Country: Saudi Arabia
Year: 2020
Type: AR2
Pages: 208
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Banque Saudi Fransi
Annual Report
The report highlights Banque Saudi Fransi's resilience and strategic progress during the challenging fiscal year 2020. Despite a 50% decline in net income to SAR 1,546 million due to prudent provisioning, the bank's operating income rose by 2.5% to SAR 7,045 million. The bank successfully navigated the COVID-19 pandemic by implementing remote working for staff, waiving various fees for customers, and actively participating in SAMA's support programs. Additionally, BSF advanced its five-year 'Leap' strategy, completing 26 initiatives including the first release of its new Core Banking System and raising SAR 5 billion in Tier 1 capital sukuk.
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Document Details
Report Year
2020
Reporting Period
Jan 1, 2020 - Dec 31, 2020
Fiscal Year
2020
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Employees