Riyad Bank, Saudi Arabia's third-largest listed lender by assets, posted an 8.6 per cent increase in its first-quarter net profit on Tuesday, citing a rise in operating income.

The bank said it made SR1.17 billion ($312 million) in the three months to March 31, compared with SR1.08 billion in the same period of 2014.

Income from special commissions and investments rose 4.2 per cent over the same period to SR1.28 billion.

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later. - Reuters