Saudi SABB Q3 net profit rises 4.1 pct

RIYADH Wed Oct 10, 2012 9:18am EDT

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RIYADH Oct 10 (Reuters) - Saudi lender Saudi British Bank (SABB) posted a 4.1 percent rise in its third quarter net profit, it said on Wednesday, missing analyst forecasts.

SABB, the kingdom's fourth largest listed bank by market capitalisation, posted net earnings of 656 million riyals ($175 million) in the three months ending September 30, compared with 630 million riyals in the same period last year.

Nine analysts polled by Reuters had pencilled in profit of, on average, 815 million riyals.

Net profit in the second quarter was 915 million riyals. In a statement posted on the bourse website, SABB attributed the quarterly decline to higher operating expenses. (Reporting By Angus McDowall; Editing by Praveen Menon)