Banque Saudi Fransi Q1 profit rises 25pc
Riyadh, April 7, 2014
Banque Saudi Fransi posted a 25.2 percent rise in first-quarter net profit on Monday, beating analysts' estimates as operating income increased.
The bank made a net profit of 856 million riyals ($228.24 million) in the three months to March 31, up from 684 million riyals in the year-earlier period, according to a filing to Saudi Arabia's bourse.
Analysts polled by Reuters on average forecast Saudi Fransi would make a quarterly profit of 755.8 million riyals.
The lender attributed its higher quarterly profit to increasing operating income, which rose 16.3 percent 1.4 billion riyals. - Reuters