Banque Saudi Fransi: BOD member sells 67% of his shares

Banque Saudi Fransi said that one of board of directors sold 66.7% of his stake in the bank.

The bank added in reports published on Tadawul that the board member “Talal Ibrahim AlMaiman” cut his stake to 50K shares by selling 100K shares in 2021 compared to his stake of 150K shares in 2020.

Moreover, four of board members’ relatives sold 2.5 million shares in 2021.

It should be noted that Banque Saudi Fransi reported profit jump of 123.2% to SR 3.45 billion in 2021 compared to SR 1.55 billion in 2020.

The bank attributed higher net profit to lower operational expenses by 33.4% in addition to higher operational income of 2%.