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Banque Saudi Fransi says Q1 income fell 13.3%
- Saudi Arabia: Monday, April 15 - 2013 at 04:54
Banque Saudi Fransi, the kingdom's fifth-largest bank by market capitalisation, has reported a 13.3% fall in its first-quarter net profit, as higher operating expenses weighed on the bank, Reuters has reported. The lender, part-owned by Credit Agricole, said it made SR684m ($182.4m) in the three months ended March 31, compared with SR789m in the same period a year earlier. Operating income for the quarter fell by 1.2% from a year earlier to SR1.2bn, while profits from special commissions were flat, the bank said.
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