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| 26 July, 2018

Saudi's Al Rajhi Bank Q2 net profit at high end of forecasts

Al Rajhi Bank made $685mln in the three months to June 30

A trader uses his mobile as he monitors screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015.

A trader uses his mobile as he monitors screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015.

REUTERS/Faisal Al Nasser

DUBAI  - 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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($1 = 3.7503 riyals)

(Reporting By Tom Arnold; Editing by Susan Fenton) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))