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Tue 7 Apr 2015 01:36 PM

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Saudi's Riyad Bank says Q1 net profit rises 8.6%

Saudi Arabia's third largest listed lender makes $312m in the three months to March 31

Saudi's Riyad Bank says Q1 net profit rises 8.6%

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

The bank said it made 1.17 billion riyals ($312 million) in the three months to March 31, compared with 1.08 billion riyals in the same period of 2014.

Income from special commissions and investments rose 4.2 percent over the same period to 1.28 billion riyals.

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

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