April 6, 2014 / 6:17 AM / 3 years ago

Saudi Hollandi Bank Q1 net profit rises 20 pct

DUBAI, April 6 (Reuters) - Saudi Hollandi Bank posted a 20 percent increase in first-quarter profit on Sunday, in line with analyst estimates as it operating income also rose.

The bank made a profit of 417 million riyals ($111.19 million)in the three months to March 31, up from 346 million riyals a year earlier, according to a Saudi Arabia bourse filing.

Five analysts polled by Reuters on average forecast Saudi Hollandi would make a first-quarter profit of 413.2 million riyals.

The bank attributed its bigger profit to increasing operating income, which rose 30 percent to 757 million riyals. ($1 = 3.7504 Saudi Riyals) (Reporting by Matt Smith; editing Olzhas Auyezov)

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