June 3, 2023

Dubai Week

Complete Dubai News World

"Saudi Franchise" significantly protects against credit risk

“Saudi Franchise” significantly protects against credit risk

In an interview with Al-Arabia channel, Tamar al-Saeed, head of asset management at Rasana Financial, said the results announced by Saudi companies did not reflect significant growth in profits, but rather small growth or decline in profits. It means that we have reached the peak of returning to business.In Saudi Arabia, our normal economic performance, and this is a good situation.

Regarding the results Bank Saudi France Al-Saeed said, “There is a huge increase in lending compared to the same period last year, and this explains to us that it greatly prevents suspicious loans.”

Bank Saudi chose French franchise, the best option for hedging and security. The loan is linked to the portfolio and other financial assets.

Bank Saudi Franchise reported 12.2% quarterly profit growth of 875 million riyals in the first quarter of 2022, compared to 780 million riyals in the first quarter of 2021.

Profit for the quarter was down 11.9% from 993 million riyals in the previous quarter.

Bank Saudi Franchise reported a 3.06% increase in gross operating income for the first quarter on a year-on-year basis.

The increase in total operating income supported the growth of net special commission income, foreign exchange earnings and other operating income, which was offset by a partial decrease in net fees and commission income and trading income.

At the same time, this reduction in total operating expenses was mainly offset by a reduction in allocations for debt losses and other financial assets, in addition to staff salaries and expenses, which was offset by a partial increase in other operational, public and administrative areas. Costs.

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The results of Suleiman al-Habib

In an interview with Al-Arabia channel, Tamar al-Sayeed, the property management head of Razana Financial, commented on Suleiman al-Habib’s group decisions:

He said, “As a new model there are many hospitals in different cities, and it will be more than double the current bed capacity. We should not forget that it has moved, it is very high in terms of rating compared to other sector companies.