Al Rajhi Bank, Saudi Arabia's second-largest lender by assets, reported a 28.2 percent rise in its fourth-quarter net profit on Thursday, beating analyst forecasts.

The bank made SR1.95 billion ($519.6 million) in the three months to December 31, up from SR1.52 billion in the same period a year earlier, it said in a bourse statement.

Seven analysts surveyed by Reuters had on average forecast the bank's quarterly profit would be SR1.67 billion. - Reuters