Banque Saudi Fransi, part-owned by Credit Agricole, has said its second-quarter net profit rose 16%, beating analyst forecasts, Reuters has reported. The kingdom’s fourth-largest bank by assets said it made SR884m ($235.7m) in the three months ending June 30, compared with SR763m in the same period a year earlier. Analysts expected the lender to post an average net profit of SR839.4m for the quarter. The bank attributed the rise to an increase in operating income, which rose 15.2% to SR1.48bn, without elaborating.
Wednesday, July 9- 2014 @ 0:41 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.