RIYADH, Oct 10 (Reuters) - Banque Saudi Fransi, one of Saudi Arabia's five biggest lenders by market value, on Saturday posted a 1.9 percent fall in third-quarter net profit on lower fees from deposit management and its local brokerage.
Saudi Fransi made 714 million riyals ($190.4 million) in the three months to Sept. 30 compared to 728.6 million riyals a year earlier, it said in a statement posted on the bourse's website.
'The decline is due to the important decrease in management fees despite an increase in deposits and also to the decrease in trading operations on local shares,' it said in the statement.
(Reporting by Souhail Karam, editing by Raissa Kasolowsky) ($1=3.75 riyals) Keywords: FRANSI EARNINGS (Riyadh newsroom +966 1 4632603; Fax +966 1 462 7113; souhail.karam@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Saudi Fransi made 714 million riyals ($190.4 million) in the three months to Sept. 30 compared to 728.6 million riyals a year earlier, it said in a statement posted on the bourse's website.
'The decline is due to the important decrease in management fees despite an increase in deposits and also to the decrease in trading operations on local shares,' it said in the statement.
(Reporting by Souhail Karam, editing by Raissa Kasolowsky) ($1=3.75 riyals) Keywords: FRANSI EARNINGS (Riyadh newsroom +966 1 4632603; Fax +966 1 462 7113; souhail.karam@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
