Saudi Arabia's largest banks, posted a slight increase in first-quarter net profit to 760 million riyals ($202.7 million), broadly in line with analysts' forecasts.Net income in the three months to March 31 rose less than one percent from 757 million riyals in the year-earlier period, the firm said in a statement on the bourse website.Forecasts for SABB's first-quarter profit ranged between 708 million to 765.7 million riyals, according to a Reuters survey this month.Earning per share was 1.0133 riyals, up 0.4 per cent from 1.0093 riyals for the same period in 2008. Customer deposits stood at SR96.6 billion at March 31, 2009, up SR18.2 billion, or 23.2 per cent, compared with SR78.4 billion during the same period last year.Loans and advances to customers of SR79.3 billion was up SR12.7 billion, or 19.1 per cent, from SR66.6 billion.Total assets of SR132.6 billion was up SR26.2 billion, or 24.6 per cent, compared with the figures last year. Richard Groves, managing director of SABB, said: “The first quarter 2009 performance reported by the bank is encouraging and demonstrates our continuing commitment to delivering sustainable results from our core banking businesses. The quality of our balance sheet remains strong based on long-term relationship lending, with surplus deposits invested predominantly in Saudi government instruments or with the Saudi Monetary Agency (Sama). The SR12.7 billion or 19.1 per cent increase in loans and advances compared to March 31, 2008 has been more than covered by the SR18.2 billion or 23.2 per cent increase in customer deposits. This has allowed SABB to maintain a strong liquidity position which, together with a capital ratio strengthened by our recent bonus issues, will ensure that funding remains available to our valued clients.