Banque Saudi Fransi, the lender part-owned by Credit Agricole, posted a 35.2 per cent rise in its third-quarter net profit, according to a bourse statement on Monday, beating analyst forecasts.

The kingdom's fourth-largest listed bank by assets said it made SR926 million ($246.9 million) in the three months ending September 30, compared with SR685 million in the same period a year earlier.

Analysts surveyed by Reuters expected the bank to post an average net profit of SR831.1 million for the quarter.

The bank attributed its rise to an increase in total operating income, which rose 15.8 per cent year-on-year to SR1.49 billion, without elaborating.

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

Loans and advances at the end of September stood at SR118.2 billion, gaining 9 per cent on the same point of 2013, while deposits rose 5 per cent to SR131.9 billion over the same period. - Reuters