Saudi Arabia's Alinma Bank reported a 18.5 per cent rise in second-quarter net profit on Thursday, beating analysts' forecasts.

The Net profit in the three months to June 30 was SR365 million ($97.3 million), compared to SR308 million in the same period last year, it said in a bourse statement.

Four analysts surveyed by Reuters on average forecast the bank to post a net profit of SR357.3 million for the quarter.

Alinma, which listed on Saudi Arabia's stock market in 2008, attributed the profit increase to growth in its core banking activities and higher operating income, which gained 38.3 per cent year on year to SR845 million.

It didn't elaborate further. Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later. - Reuters