Saudi's Riyad Bank posts 27.2 pct Q4 net profit jump, beats forecasts

RIYADH Wed Jan 8, 2014 8:15am EST

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RIYADH Jan 8 (Reuters) - Riyad Bank, Saudi Arabia's third-largest lender by assets, posted a 27.2 percent jump in its fourth-quarter net profit on Wednesday.

The bank said it made 1.03 billion riyals ($274.6 million) in the three months ending Dec. 31, compared with 810 million riyals in the same period of 2012.

Analysts surveyed by Reuters expected the bank to post an average net profit of 954.3 million riyals for the fourth quarter.

Net profit for the full year was 3.95 billion riyals, up 13.9 percent from 3.47 billion riyals in 2012 ($1 = 3.7505 Saudi riyals) (Reporting by Angus McDowall; Editing by David French)

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