Riyad Capital issues Q3 2020 earnings forecast for Saudi banks, firms

08/10/2020 Argaam Special


Riyad Capital published its Q3 2020 earnings forecast for several Tadawul-listed banks and firms under its coverage.

 

Saudi Basic Industries Corporation (SABIC) is expected to post a 63% profit drop year-on-year (YoY) to SAR 246 million in Q3 2020.

 

In the banking sector, Al Rajhi Bank is likely to post a 9% profit increase to SAR 3.09 billion.

 

Below is a list of Riyad Capital’s estimates, as compiled by Argaam.

 

Riyad Capital’s Q3 Profit Forecasts (SAR mln)

Company

Q3 2020 estimates

YoY Variation

Banks

BSF

455

(48%)

SABB

614

(42%)

ANB

518

(38%)

Samba

1,006

(18%)

Al Rajhi

3,089

+ 9 %

Albilad

321

(2%)

Alinma

580

(19%)

NCB

2,174

(14%)

Petrochemicals

Petrochem

(12)

--

SABIC

246

(63%)

SAFCO

367

(11%)

Tasnee

7

(83%)

Yansab

109

(49%)

Sipchem

7

(94%)

Saudi Kayan

(111)

--

Telecom

STC

2,706

(1%)

Mobily

216

+323%

Zain Saudi

71

(41%)

Cement

Yamama Cement

91

+66%

Saudi Cement

119

+43%

Qassim Cement

147

+ 63 %

Southern Cement

171

+89%

Yanbu Cement

81

+31%

Other

Jarir

304

--

SEC

1,975

(26%)

HMG

252

+ 27 %

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