The firm made a net profit of SR773 million ($206 million) in the three months to end June, against SR757 million in the same period a year earlier, attributing the rise in profits to increased operational revenue.

BSF’s operational profit for the second-quarter increased by 0.7 percent to SR1.2 billion and its commissions from special operations increased by 1.7 percent to SR789 million, it said in the statement.

The bank's loans portfolio increased by 3.7 percent to SR85 billion.

BSF said last month it plans to issue SR0.7 per share in dividends for the first half of 2011. Five other Saudi banks reported quarterly profits on Monday and Tuesday that met or beat analysts estimates, in a sign that the Kingdom's lenders are rebounding from a period of bad loan provisioning.