Riyad Cap releases Q3 2022 earnings forecasts for under-coverage Saudi banks, firms

06/10/2022 Argaam Special

Riyad Cap releases Q3 2022 earnings forecasts for under-coverage Saudi banks, firms


Riyad Capital published its Q3 2022 earnings forecasts for several Tadawul-listed banks and firms under its coverage.

 

Saudi Basic Industries Corporation’s (SABIC) profit is expected to rise 8% year-on-year (YoY) to SAR 6 billion in Q3 2022. In the banking sector, Al Rajhi Bank is likely to post an 18% YoY profit increase to SAR 4.5 billion.  

 

The table below shows Riyad Capital’s outlook for the financial results of banks and companies under its coverage for the third quarter of 2022:

 

Riyad Capital’s Q3 2022 Profit Forecasts (SAR mln)

Company

Q3 2022

YoY Change

Banking Sector

BSF

954

+5%

SABB

1,131

+28%

ANB

775

+16%

Al Rajhi Bank

4,472

+18%

Bank Albilad

543

+21%

Alinma Bank

946

+28%

SNB

4,819

+27%

Petrochemicals

SABIC

6,018

+8%

SABIC Agri-Nutrients

2,516

+109%

Tasnee

221

(34%)

Yansab

213

+18%

Sipchem

1,008

(2%)

Advanced

81

(63%)

Saudi Kayan

106

(84%)

SIIG

245

+20%

Telecommunications

stc

2,929

--

Mobily

368

+31%

Zain KSA

138

+129%

Cement

Yamama Cement

75

+88%

Saudi Cement

94

+60%

Qassim Cement

32

(47%)

Southern Cement

79

(5%)

Yanbu Cement

55

+55%

Other Sectors

Almarai

497

+21%

Jarir

280

+3%

Saudi Electricity

5,538

+2%

Sulaiman Al Habib

422

+21%

BinDawood Holding

38

(46%)

solutions

253

(2%)

*After deducting Mudaraba instrument.

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