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Al Rajhi Bank posts SR1.94bn net profit in Q2
(MENAFN- Arab News) DUBAI: Al-Rajhi Bank Saudi Arabia's second-largest lender posted a marginal drop of 0.4 percent in its second-quarter net profit it said on Wednesday beating analyst forecasts.
The bank made SR1.94 billion ($517.6 million) in the three months ending June 30 compared with SR1.95 billion in the same period a year earlier it said in a bourse statement.
Eight analysts surveyed by Reuters on average expected the bank to post a net profit of SR1.76 billion for the quarter.
In a separate statement the bank said its board had proposed a cash dividend for the first half of 2015 of SR0.5 per share. This is half the SR1 per share it paid for the same period last year according to Thomson Reuters data.
The bank made SR1.94 billion ($517.6 million) in the three months ending June 30 compared with SR1.95 billion in the same period a year earlier it said in a bourse statement.
Eight analysts surveyed by Reuters on average expected the bank to post a net profit of SR1.76 billion for the quarter.
In a separate statement the bank said its board had proposed a cash dividend for the first half of 2015 of SR0.5 per share. This is half the SR1 per share it paid for the same period last year according to Thomson Reuters data.
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