Banque Saudi Fransi , the lender part-owned by Credit Agricole, reported a 2-percent decline in quarterly profits on Monday, missing forecasts, due to higher operational costs.
The bank made second-quarter net profit of 757 million riyals ($201.9 million) in the three months to June 30, down from 773 million riyals in the same period a year earlier.
Analysts surveyed by Reuters had forecast, on average, profit of 806.50 million riyals.
"The reason for the decline in net income during the second quarter compared to the year earlier is the higher operating costs," the bank said in a statement to the Saudi bourse.
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