Banque Saudi Fransi finishes \$650 million Additional Tier 1 bond sale
Banque Saudi Fransi (BSF) has finished offering its \$650 million in additional tier 1 capital notes, according to a stock market report on Thursday.
Bond Offering
- BSF issued bonds as part of its Additional Tier 1 Capital Program, according to a filing posted on the Saudi Exchange (Tadawul).
- Investors from Saudi Arabia and other countries were allowed to participate in the offering.
- BSF issued 3,250 bonds on April 30.
- The bonds offer an annual return of 6.375%.
- The capital notes will be listed on the international securities market of the London Stock Exchange.
Share Price
BSF’s share price fell by 1.4%, reaching $4.83 (SAR 18.12). This lowered the bank’s market value to $12.3 billion (SAR 45.95 billion).
Financial Performance
In the first quarter of 2025, BSF reported a 13.2% increase in its total operating income to $703.5 million (SAR 2.6 billion).
This growth was mainly due to a 10.4% rise in its net special commission income to $564.8 million (SAR 2.1 billion), and a 6% increase in its net fee and commission income to $69.9 million (SAR 262.1 million) compared to the same period last year.
The bank also saw a 16.3% increase in its net income, reaching $356.8 million (SAR 1.3 billion) for the quarter ending March 31, 2025.
Big Number
BSF’s total assets grew by 3.5% year-on-year, reaching $80.8 billion (SAR 303 billion) by the end of March 2025.
Published: 3rd May 2025
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