DUBAI, July 13 Al Rajhi Bank, Saudi
Arabia's largest listed lender, posted a 8.2 percent decrease in
its second-quarter net profit, it said in a bourse statement on
Sunday, in line with analyst forecasts.
The bank said it made 1.95 billion riyals ($520 million) in
the three months ending June 30, compared with 2.12 billion
riyals in the same period a year earlier.
Analysts surveyed by Reuters expected the bank to post an
average net profit of 1.97 billion riyals for the quarter.
The decrease was the third straight drop in quarterly profit
posted by the bank, which it attributed to a rise in operating
expenses without elaborating.
Saudi companies issue brief earnings statements early in the
reporting period before publishing more detailed results later.
Operating income for the quarter rose by 6.6 percent on the
corresponding period of 2013 to 3.66 billion riyals, while
profits from special commissions increased 4.9 percent over the
same timeframe to 2.51 billion riyals.
(Reporting by Nadia Saleem; Editing by David French)