IslamicFinance.de

Saudi Arabia's Al Rajhi Bank reported a 28.2 percent rise in its fourth-quarter net profit on Thursday, beating analyst forecasts as operating income was pushed up by higher fee income from banking services and other revenue. The kingdom's second-largest lender by assets made 1.95 billion riyals ($519.6 million) in the three months to Dec. 31, up from 1.52 billion riyals in the same period a year earlier. Samba Financial Group, the kingdom's third-largest bank by assets, reported flat net profit for the fourth quarter. It concludes a mixed earnings season for banks, with as many profit falls as rises at the kingdom's major lenders as the slump in oil prices begins to take some toll. Samba made a profit of 1.23 billion riyals in the three months to Dec. 31, the same figure it reported for the corresponding period a year earlier.