October 18, 2018 / 1:53 PM / 10 months ago

Riyad Bank's Q3 profit rises 8.2 pct, in line with forecasts

DUBAI, Oct 18 (Reuters) - Riyad Bank, Saudi Arabia’s fourth-largest lender by assets, posted an 8.2 percent rise in third-quarter net profit on Thursday, in line with analysts’ forecasts.

The bank made 1.17 billion riyals ($311.9 million) in the three months to Sept. 30, up from 1.08 billion riyals in the same period a year earlier, it said in a bourse filing.

An average of three analysts polled by Reuters forecast the bank would make a quarterly profit of 1.15 billion riyals.

The bank attributed the stronger performance to a rise in special commission income and fee and commission income.

Samba Financial Group, Saudi Arabia’s third-largest bank by assets, reported a 13.2 percent rise in third-quarter net profit earlier on Thursday, beating analysts’ forecasts. ($1 = 3.7514 riyals) (Reporting By Tom Arnold; editing by Emelia Sithole-Matarise)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below