Saudi's Samba Financial Group has posted first-quarter net profit of SR1.145 billion ($305.32 million), it said on Saturday, nearly matching analysts forecasts.

The kingdom's second largest listed lender by market value said that its first quarter net profits increased by 2 per cent on the year.

Eight analysts surveyed by Reuters forecast the bank's net profits would be, on average, 1.17 billion riyals.-Reuters