Bloomberg News

Saudi Fransi Fourth-Quarter Profit Drops 7%, Misses Estimates

January 16, 2012

Jan. 16 (Bloomberg) -- Banque Saudi Fransi, a Saudi lender part-owned by Credit Agricole SA, posted a 7 percent decline in fourth-quarter profit as operating expenses increased.

Net income fell to 661 million riyals from 709 million riyals a year earlier, the Riyadh-based lender said in a statement to the Saudi bourse today. The mean estimate of six analysts was for a profit of 855 million riyals, according to data compiled by Bloomberg.

To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net


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