Saudi’s Al Rajhi Bank second-quarter net profit at high end of forecasts

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DUBAI (Reuters) – Al Rajhi Bank , Saudi Arabia’s second-largest lender by assets, reported a 17.7 percent rise in its second-quarter net profit on Thursday, at the high end of analysts’ forecasts.

The bank made 2.57 billion riyals ($685 million) in the three months to June 30, up from 2.18 billion riyals in the same period a year earlier, it said in a statement via the stock exchange.

The average forecast of three analysts surveyed by Reuters was a net profit of 2.41 billion riyals.

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