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CORRECTED-Saudi's Al Rajhi Bank Q1 net profit slips 16.9 pct
April 13, 2014 / 6:16 AM / in 4 years

CORRECTED-Saudi's Al Rajhi Bank Q1 net profit slips 16.9 pct

(Corrects to say earnings missed expectations)

DUBAI, April 13 (Reuters) - Al Rajhi Bank, Saudi Arabia’s largest listed lender, posted a 16.9 percent drop in its first-quarter net profit, missing expectations by a large margin.

The bank made 1.71 billion riyals ($456 million) in the three months ended March 31, compared with 2.05 billion riyals in the same period a year earlier, it said in a bourse statement on Sunday.

Analysts surveyed by Reuters had expected the bank to post an average net profit of 2.05 billion riyals for the quarter. ($1 = 3.7502 Saudi Riyals) (Reporting by David French; Editing by Andrew Torchia)

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