October 18, 2018 / 1:58 PM / a month ago

Riyad Bank's Q3 profit rises 8.2 pct, in line with forecasts

DUBAI, Oct 18 (Reuters) - Riyad Bank, Saudi Arabia’s fourth-largest lender by assets, posted an 8.2 percent rise in third-quarter net profit on Thursday, in line with analysts’ forecasts.

The bank made 1.17 billion riyals ($311.9 million) in the three months to Sept. 30, up from 1.08 billion riyals in the same period a year earlier, it said in a bourse filing.

An average of three analysts polled by Reuters forecast the bank would make a quarterly profit of 1.15 billion riyals.

The bank attributed the stronger performance to a rise in special commission income and fee and commission income.

Samba Financial Group, Saudi Arabia’s third-largest bank by assets, reported a 13.2 percent rise in third-quarter net profit earlier on Thursday, beating analysts’ forecasts. ($1 = 3.7514 riyals) (Reporting By Tom Arnold; editing by Emelia Sithole-Matarise)

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