Saudi Arabia's Al Rajhi Bank, the second-largest lender in the kingdom by assets, said its board has proposed paying a cash dividend of 0.75 riyals ($0.20) per share for the first half of 2016.

This is up from the 0.50 riyals per share it paid for the same period last year.

The bank on Monday reported a 5.7 per cent increase in its second-quarter net profit, broadly in line with analyst forecasts.-Reuters