April 9, 2013 / 1:23 PM / 4 years ago

Saudi Hollandi Bank posts 19.4 pct rise in Q1 net profit

DUBAI, April 9 (Reuters) - Saudi Hollandi Bank, Saudi Arabia’s eighth-largest listed bank, said its first quarter net profit rose 19.4 percent over last year, beating analyst expectations.

The lender said it made a net profit of 346.3 million riyals ($92.3 million) in the first three months of 2013, compared with net profit of 290 million riyals in the first quarter of 2012, a bourse filing said on Tuesday.

Five analysts surveyed by Reuters had forecast the bank to earn net profit of 315 million riyals in the quarter. ($1 = 3.7502 Saudi riyals) (Reporting by David French; Editing by Dinesh Nair)

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