Saudi Arabia's SNB reports 20% rise in third-quarter net profit

Saudi National Bank (SNB) 1180 reported on Monday around a 20% increase in third-quarter net profit on a double-digit rise in operating income, while operating expenses declined.

The kingdom's biggest lender by assets reported a net profit attributable to equity holders of 6.47 billion riyals ($1.73 billion) in the quarter ended on September 30, beating analysts' expectations of 5.45 billion riyals, according to mean estimates compiled by LSEG.

($1 = 3.7503 riyals)