DUBAI, April 14 (Reuters) - Saudi Arabia’s Riyad Bank posted a 21.6 rise in net profit in the first quarter, beating forecasts.
The kingdom’s third-largest lender by market value made 901 million Saudi riyals ($240.3 million) in the three months to end-March, up from 741 million riyals in the year-earlier period, the firm said in a bourse statement on Saturday.
Analysts polled by Reuters had estimated average earnings of 843.9 million riyals. ($1 = 3.7502 Saudi riyals)
Reporting by Amena Bakr; Editing by Firouz Sedarat