Saudi's Samba beats forecasts with 13.2 pct Q3 profit rise | Reuters

Saudi's Samba beats forecasts with 13.2 pct Q3 profit rise | Reuters:

Samba Financial Group, Saudi Arabia’s third-largest bank by assets, reported a 13.2 percent rise in third-quarter net profit on Thursday, beating analysts’ forecasts.

The bank, the first major bank from the kingdom to report earnings during the quarter, made a profit of 1.96 billion riyals ($522.5 million) in the three months to Sept. 30, up from 1.73 billion riyals in the same period a year earlier, it said in a bourse statement.

Three analysts on average forecast the bank would make a profit of 1.42 billion riyals.