Riyad Bank posts 13.5% jump in Q1 earnings

April 7, 2014 9:32 am

Saudi Arabia’s third-biggest lender by assets, Riyad Bank has reported a 13.5% jump in first-quarter net profit, broadly in line with analysts’ estimates, Reuters has reported. The bank made SR1.08bn ($288m) in the three months ending March 31, compared with SR951m in the same quarter a year ago. The increase was attributed to a rise in total operating income, which climbed 12% year-on-year to SR1.93bn, the bank said without elaborating.