RIYADH: Saudi's Riyad Bank said on Saturday first-quarter net profit rose 8.3 percent on the back of improved income from banking services and other operations.
The bank made a net profit of 741 million Saudi riyals ($197.6 million) in the three months to March 31, compared to 684 million riyals in the same period a year earlier, it said in a statement on Saudi Arabia's bourse website.
Total operating profit for the period rose 3.9 percent to 1.53 billion riyals from 1.47 billion in the first quarter of
last year, it said.
Assets for the three months period climbed to 180.72 billion riyals from 174.29 billion riyals while investments increased to 38.7 billion riyals from 32.23 billion riyals in the same period last year.
Loans and advances rose 2.9 percent to 109.36 billion riyals, it said.
The bank's share price closed 0.4 percent higher in earlier trade on Saturday, in line with the kingdom's bourse which edged up 0.5 percent.
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