Apr 20 2009 |
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Al-Jazira Bank's Q1 net profit falls 33%
RIYADH: Saudi Arabia's Al-Jazira Bank posted a better-than-expected 33.3 percent drop in net profit during the first quarter.Net income in the three months to March 31 fell to 102 million riyals ($27.2 million) compared with a profit of 153.4 million riyals in the first quarter of 2008, the bank said in a statement. Analysts surveyed by Reuters had expected on average net profit of 52.3 million riyals.
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