20 April 2009
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.
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.
© Kuwait Times 2009
