Riyad Bank made SR794 million ($211.7 million) in the three months ending Sept. 30, compared with SR611 million in the same period a year earlier, it said.

Analysts surveyed by Reuters expected the bank to post on average SR784.6 million in the third quarter.

"The rise in profit for the nine months ending September 30th compared with the same period a year earlier is due to the improved banking services income and foreign exchange income as well as lower operational costs," the statement said.

Riyad Bank's operational income increased by 5 percent to SR1.6 billion from SR1.4 billion a year earlier.

Its profit from special commissions increased by 0.4 percent to SR1.06 billion.

Samba made a net profit of SR1.13 billion in the three months ending on Sept. 30, compared with SR1.1 billion in the same period a year earlier.

Analysts surveyed by Reuters expected the firm to post, on average, SR1.1 billion in the third quarter.

"The rise ... in third-quarter net profit compared to the same period a year earlier is due to increased investments," the bank said in the statement.

The bank's operational income for the third quarter decreased by 0.9 percent to SR1.7 billion, while its profits from special commissions decreased by 9 percent to SR1.05 billion from SR1.1 billion.

Last week, five major Saudi banks posted strong third quarter results, three of which beat analysts' forecasts, citing lower operational costs as well as increased income from banking fees.