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00:00The French Bank of Saudi Arabia achieved a growth in profits in the first quarter of this year.
00:05If we do not go into the details of the reasons that led to the increase in profits, we will go over them in detail,
00:11and above all, of course, the operational activities of the bank.
00:14The main reason that supported the bank's profitability in the first quarter
00:18was, of course, the reduction of the total operating expenses by more than 6%,
00:24and the increase in total operating expenses was the main reason for the bank's profits to increase by 7%
00:30and reach approximately 1.15 billion Riyals compared to 1.70 billion Riyals in the quarter similar to the previous year.
00:38The bank recorded a growth of 12% in the first quarter to reach 268.3 billion Riyals compared to 240.2 billion Riyals.
00:51As for the deposits and loans, the deposits and loans increased by 4.4%, reaching 174.8 billion Riyals,
01:06while the loans increased by 12.5%, reaching 184.4 billion Riyals.
01:16The main reasons, as we mentioned, that led to the increase in profits
01:20were the reduction of operating expenses and the increase in operating income.