UPDATE 2-Saudi's Al Rajhi Bank Q1 net profit rises 21 pct on higher fees - Reuters:
Al Rajhi Bank, Saudi Arabia’s second-largest lender by assets, reported double-digit growth in first-quarter net profit on Tuesday, helped by higher special commission income and fees.
Saudi Arabia’s biggest Islamic lender said net profit rose 21 percent in the three months ended March 31 to 2.89 billion riyals ($771 million). It made net profit of 2.38 billion riyals in the same period a year earlier.
The bank aims to boost its mortgage lending as more affordable housing comes on the market, Chief Executive Steve Bertamini told Reuters this month.
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