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Banque Saudi Fransi's Q4 profit up, misses forecasts

Mon Jan 21, 2008 8:16am EST

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RIYADH, Jan 21 (Reuters) - Banque Saudi Fransi 1050.SE, Saudi Arabia's fourth biggest lender by market value, said fourth-quarter profit rose 10 percent, missing all analysts' forecasts.

Fransi, an affiliate of France's Credit Agricole (CAGR.PA), said it made 640.5 million riyals ($170.8 million) in the three months ending in Dec. 31.

Analysts' forecasts for the fourth quarter ranged from 693 million riyals to 828.2 million riyals, according to a Reuters survey last month. [nL28289882]

Saudi Fransi reported a net profit of 582.1 million riyals in the fourth quarter of 2006.

Credit Agricole owns 31.1 percent of Banque Saudi Fransi.

(Reporting by Souhail Karam, editing by Dayan Candappa)

((souhail.karam@reuters.com, +966 1 463 2603; Reuters Messaging: souhail.karam.reuters.com@reuters.net)) Keywords: FRANSI EARNINGS/

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