Al-Rajhi Bank, the largest Gulf bank by market value, said profit rose 4 percent in the third-quarter on higher incomes from both lending and investment banking services.

The bank made 1.76 billion riyals ($468.5 million) in the three months to September 30, it said in a statement posted on the bourse's website.

Analysts' forecasts for the third quarter ranged from 1.75 billion riyals to 1.84 million riyals, according to a Reuters survey last month.-Reuters