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DUBAI, Jan 19 (Reuters) - Banque Saudi Fransi 1050.SE
, which is partly owned by Credit Agricole CAGR.PA
, posted a 61 percent drop in fourth-quarter net profit on Thursday, widely missing analysts' forecasts.
The bank, the fifth-largest by assets in the kingdom, made a net profit of 374 million riyals ($99.7 million) in the three months ended Dec. 31, compared with 950 million riyals in the same period of 2015, it said in a statement.
Three analysts surveyed by Reuters had on average forecast the bank would make a quarterly profit of 1 billion riyals. ($1 = 3.7505 riyals)
(Reporting By Tom Arnold; Editing by Greg Mahlich) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
The bank, the fifth-largest by assets in the kingdom, made a net profit of 374 million riyals ($99.7 million) in the three months ended Dec. 31, compared with 950 million riyals in the same period of 2015, it said in a statement.
Three analysts surveyed by Reuters had on average forecast the bank would make a quarterly profit of 1 billion riyals. ($1 = 3.7505 riyals)
(Reporting By Tom Arnold; Editing by Greg Mahlich) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))