Saudi Hollandi Bank (SHB) posted a 21.9 percent rise in first-quarter net profit on higher operating income and lower expenses, but missed analysts\' expectations for the first three months of the year. The bank made SR290 million ($77.3 million) in the first quarter, it said on Tuesday, compared to SR238 million for the same period a year ago. Six analysts canvassed by Reuters had forecast, on average, that the bank would record a net income of SR318 million in the first quarter. The bank attributed the result to lower operating expenses and higher operating income, which rose 11.3 percent to SR540 million from SR485 million in the first three months of 2011, it said in a statement posted on the website of the Saudi bourse. Saudi Hollandi Bank said its net income from special commissions rose 3.6 percent to SR322 million, total assets rose 18 percent to SR60.2 billion and loans and advances rose 22.2 percent to SR40.2 billion.