Tuesday 10 July 2012

UPDATE 1-Saudi Al Rajhi Q2 net profit up 13.6 pct | Reuters

Saudi Arabia's Al Rajhi Bank posted a 13.6 percent rise in its second quarter net profit, helped by a 12.3 percent jump in operating income, it said in a statement posted on the bourse website on Tuesday.

The country's biggest Islamic lender made 2.1 billion riyals ($560 million) in the three months ended June 30 compared with 1.8 billion riyals a year earlier. The results were in line with forecasts by eight analysts surveyed by Reuters, who had expected the bank to post an average profit of 2 billion riyals.

The bank said it would pay a dividend of 1.25 riyals per share for the first half of the year, after the deduction of zakat.

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