Saudi Arabia’s largest-listed lender, Al Rajhi Bank has reported a 2% rise in its first-quarter net profit, helped by a jump in both lending and customer deposits portfolio, Reuters has reported. The bank made a net profit of SR2.05bn ($546.6m) in the three months ending March 31, compared with SR2.01bn in the same period a year earlier, it said. Al Rajhi attributed its profit growth to higher operating income, without giving more details. Operating income for the quarter rose by 3% to SR3.53bn. Customer deposits jumped 20.8% to SR232b on March 31, over the same point last year, the lender said.
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