Saudi's Riyad Bank Q1 Net Profit Rises 8.6% - Gulf Business
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Saudi’s Riyad Bank Q1 Net Profit Rises 8.6%

Saudi’s Riyad Bank Q1 Net Profit Rises 8.6%

The bank said it made $312 million in the three months to March 31.

Riyad Bank, Saudi Arabia’s third-largest listed lender by assets, posted an 8.6 per cent increase in its first-quarter net profit on Tuesday, citing a rise in operating income.

The bank said it made SAR1.17 billion ($312 million) in the three months to March 31, compared with SAR1.08 billion in the same period of 2014.

Income from special commissions and investments rose 4.2 per cent over the same period to SAR1.28 billion.

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.

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