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Riyad Bank posts 9.4% rise in Q2 net profit

Saudi lender Riyad Bank has reported a 9.4% increase in net profit in the second quarter, beating analysts' forecasts, Reuters has reported. The kingdom's third-largest lender by market value made SR914.4m ($243.8m) in the three months to June 30, up from SR836m in the year-earlier period. On average, analysts estimated earnings of SR864m.