Saudi Hollandi Bank Q2 net profit jumps 28.1pc on higher income

DUBAI: Saudi Hollandi Bank posted a 28.1 percent increase in second-quarter net profit on Sunday, boosted by higher operating income.

The kingdom's oldest bank and its seventh-largest listed lender by assets made a net profit of 480.3 million riyals ($128.1 million) in the three months to June 30, compared with 374.8 million riyals in the corresponding period of 2013, it said in a statement.

It cited higher operating income - which increased 17 percent year-on-year to 811.2 million riyals - for the increase in net profit without elaborating.

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.