Banque Saudi Fransi Q4 net plunges 43pc
Riyadh, January 10, 2010
Banque Saudi Fransi said on Sunday its fourth-quarter net profit fell by a worse-than-expected 43.3 per cent after it booked provisions to support its finances.
The affiliate of French Credit Agricole made SR324 million ($86.4 million) in the three months to end-December down from 571.3 million riyals a year earlier, it said in a statement posted on the bourse's website.
Analysts forecast of Saudi Fransi's fourth quarter earnings ranged from 633 million riyals to 671.5 million riyals.-Reuters