Banque Saudi Fransi became the first bank to share its 4Q earnings, with figures announced yesterday showing a 13% y-o-y increase in net income to SAR 1.3 bn during the quarter.

The bank also reported “record” earnings for the full year, saying net income grew 18% to some 5.4 bn, on the back of a 10% increase in net interest income, while non-interest income grew at a slower 4%.

ALSO- Higher consumer and commercial lending sent loans and advances up 5% y-o-y to SAR 214.9 bn. Meanwhile, customer deposits reached SAR 195.2 bn, a 5% y-o-y increase driven by interest-bearing deposits.