JEDDAH: Riyad Bank, Saudi Arabia’s fourth-largest lender by assets, posted a 0.7 percent decline in its second-quarter net profit.

The bank said it made SR1.13 billion ($301.3 million) in the three months ending June 30, compared with SR1.14 billion in the same period of 2014, citing an increase in operating expenses for the decline.

Six analysts surveyed by Reuters on average forecast the bank to post a net profit of SR1.18 billion for the quarter.