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FINANCIAL NEWS
Banque Saudi Fransi posts 2.4pct increase in Q1 profits
13 Apr 2017
(MENAFN) Banque Saudi Fransi recorded a 2.4 percent increase in its first quarter net profit, beating analysts’ predictions as operating income and special commission income both increased.
Moreover, the bank made revenue of almost USD293.3mn in the cited period, compared with 1.08bn riyals in the same period of 2016.
Additionally, it also attributed its enhanced earnings performance in the quarter to a 3.2 percent increase in whole operating income as income from net special commission went up.
Saudi British Bank, the kingdom’s sixth-largest lender by assets, recorded a 9.3 percent fall in Q1 net profit, meeting analysts’ forecasts as operating expenses grew.
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