Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Wednesday said its net profits shed 0.9% year-on-year in the third quarter of 2017.
Profits decreased to SAR 1.001 billion in Q3-17, from SAR 1.01 billion in Q3-16, according to a bourse statement.
Quarter-on-quarter, profit edged down 0.4%.
BSF attributed the drop in its year-on-year net profits to an increase in operating expenses by 8.97%, and a rise in expenses of other operations.
At the level of the first nine months of 2017, the bank’s profits fell 0.86% to reach SAR 3.11 billion, compared to SAR 3.14 billion in the corresponding period in the year before.
By 11:11 am KSA time, BSF’s stock rose 0.28% to SAR 28.50.
