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Profits reached SR1.69 billion ($450 million), compared to SR1.35 billion a year earlier, the bank said in a statement.
The bank attributed the profit hike to an 8 percent increase in operating income, driven by higher income from investment and financing activities.
It added that profits were further buoyed by a 2 percent fall in operating expenses, as a result of lower impairment charges for expected credit lowers, which dropped by 18 percent.
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