Saudi banks are expected to post a combined profit of SAR 11.95 billion in the second quarter of this year, which would mark an eight percent year-on-year rise, according to projections of analysts.
Bank Aljazira is projected to record a profit surge of 282 percent in Q2-2015, followed by Bank Albilad at 15 percent.
A majority of the kingdom’s banks are likely to turn a profit for the April to June period, with the exception of Al Rajhi Bank. Saudi Arabia’s second largest bank by assets is seen to post an 11 percent profit drop, compared to the same quarter last year.
|
Analyst Estimates for Q2-2015 vs. Q2-2014 profits |
||||
|
Change (%) |
2015 estimates |
2014 profits |
Number of analysts |
Company |
|
+6% |
2,466 |
2,425 |
2 |
NCB |
|
+7% |
1,215 |
1,136 |
2 |
RIBL |
|
+282% |
638 |
167 |
4 |
Bank AlJazira |
|
+9% |
383 |
353 |
1 |
Saudi Investment Bank |
|
+8% |
520 |
480 |
2 |
Saudi Hollandi Bank |
|
+8% |
952 |
884 |
2 |
Banque Saudi Fransi |
|
+3% |
1,194 |
1,157 |
2 |
SABB |
|
+8% |
845 |
785 |
2 |
ANB |
|
+5% |
322 |
1,257 |
2 |
SAMBA |
|
(11%) |
1,729 |
1,949 |
5 |
Al-Rajhi Bank |
|
+15% |
235 |
204 |
4 |
Bank Albilad |
|
+14% |
352 |
308 |
5 |
Alinma Bank |
|
+8% |
11,950 |
11,107 |
5 |
Total |
Among Saudi research firms, Osool & Bakheet Investment Co. issued projections for all Saudi banks. Alistithmar Capital released forecasts for 11 lenders, whereas Albilad Capital and Aljazira Capital each covered three banks.
|
Breakdown of Forecasts – Q2-2015 |
|||||||
|
Average forecasts |
Osool & Bakheet |
Albilad Capital |
Alistithmar Capital |
KSB Capital |
|
Aljazira Capital |
Company |
|
2,566 |
2,552 |
- |
2,580 |
- |
|
- |
NCB |
|
1,215 |
1,216 |
- |
1,214 |
- |
|
- |
RIBL |
|
638 |
770 |
822 |
772 |
186 |
|
- |
Bank AlJazira |
|
383 |
383 |
- |
- |
- |
|
- |
Saudi Investment Bank |
|
520 |
502 |
- |
538 |
- |
|
- |
Saudi Hollandi Bank |
|
952 |
930 |
- |
974 |
- |
|
- |
Banque Saudi Fransi |
|
1,194 |
1,133 |
- |
1,254 |
- |
|
- |
SABB |
|
845 |
790 |
- |
900 |
- |
|
- |
ANB |
|
1,322 |
1,265 |
- |
1,379 |
- |
|
- |
SAMBA |
|
1,729 |
1,778 |
1,724 |
1,671 |
1,730 |
|
1,743 |
Al-Rajhi Bank |
|
235 |
223 |
- |
232 |
248 |
|
238 |
Bank Albilad |
|
352 |
363 |
365 |
351 |
332 |
|
349 |
Alinma Bank |
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