Saudi lender Al Rajhi reports 48% rise in Q2 net income

The bank reported a net profit of 3.6 billion riyals ($959.92 million) for the period ended June 30, up from 2.44 billion in the same period a year earlier. (File pic, Al Rajhi Bank in Malaysia)

DUBAI: Al Rajhi Bank, Saudi Arabia's second-biggest lender, posted a 48% jump in quarterly profit, helped by an increase in net financing and investment income, and fees from banking services.

The bank reported a net profit of 3.6 billion riyals ($959.92 million) for the period ended June 30, up from 2.44 billion in the same period a year earlier.