Oct. 12 (Bloomberg) -- Al Rajhi Bank, Saudi Arabia’s largest publicly-traded lender by market value, said third- quarter profit rose 18 percent, beating analyst estimates.

Net income rose to 1.94 billion riyals from 1.64 billion riyals, the bank said in a statement to the Saudi bourse today. The mean estimate of six analysts was for a profit of 1.9 billion riyals, according to data compiled by Bloomberg.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net