Saudi Riyad Bank posts 5.5 pct rise in 1st-quarter net profit

RIYADH, April 7 Sun Apr 7, 2013 11:20am EDT

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RIYADH, April 7 (Reuters) - Riyad Bank posted a 5.5 percent rise in its first-quarter profits on Sunday, beating analysts' forecasts.

The kingdom's third-largest listed bank by market value said in a bourse statement that it made 951 million riyals ($254 million) in the three months ended March 31, compared with 901 million riyals in the same period a year earlier.

Analysts surveyed by Reuters expected the bank to post an average of 876 million riyals for the first quarter. (Reporting By Angus McDowall; editing by Jane Baird)

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