Banque Saudi Fransi has reported a 15.8 per cent growth in its second quarter net profits, a growth rate in line with wider trends in the Saudi Arabian banking market.

Its second quarter results hit SR884m ($235.7m) compared to SR793m in the same quarter in 2013, due to an increase in operating profits.

The bank’s announcement follows news of profit increases from other Saudi Arabian banks, including Riyad Bank, Saudi Hollandi and Saudi Investment Bank.

Year-to-date, Saudi Fransi has seen its assets grow by just over 11 per cent compared to the first half of last year. Its lending activity has also increased by 6.49 per cent during the first half of the year to reach SR117.4bn while its deposit volumes have grown at a similar rate of 7.89 per cent.

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