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Saudi's Riyad Bank Q1 net profit rises 8.6 percent

Saudi Arabia's third-largest listed lender by assets cited a rise in operating income

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Riyad Bank, Saudi Arabia's third-largest listed lender by assets, posted an 8.6 percent increase in its first-quarter net profit on Tuesday, citing a rise in operating income.

The bank said it made 1.17 billion riyals ($312 million) in the three months to March 31, compared with 1.08 billion riyals in the same period of 2014.

Income from special commissions and investments rose 4.2 percent over the same period to 1.28 billion riyals.

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.