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Saudi Arabia’s Riyad Bank on Sunday posted a 9.4 percent rise in net profit in the second quarter, beating analysts’ forecasts.
The kingdom’s third-largest lender by market value made SR914.4m ($243.8m) in the three months to June 30, up from SR836m in the year-earlier period, the firm said in a bourse statement on Sunday.
Analysts polled by Reuters had, on average, estimated earnings of SR864m.
Operational income for the second quarter rose 16.3 percent versus the same period last year to SR1.8bn, while income from special commissions increased by 2.6 percent in the same timeframe to SR1.1bn.
source arabianbusiness
