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Al Rajhi Bank’s Q1 profit edges up 2pct to $546.6mln

Posted on 11 April 2013

Al Rajhi Bank, Saudi Arabia’s largest listed lender, posted a 2% increase in its first-quarter net profit yesterday, helped by a jump in both lending and customer deposits portfolio. The bank made a net profit of 2.05bn riyals ($546.6mn) in the three months ending March 31, compared with 2.01bn riyals in the same period a year earlier, it said in a statement to the Saudi bourse.
Nine analysts surveyed by Reuters expected the bank to post, on average, 2.03bn riyals for the first quarter. Two other Saudi lenders, Saudi Hollandi Bank and Saudi British Bank (SABB) beat estimates for first-quarter net profit on Monday………………………………………..Full Article: Source

 
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