SICO Bank issues Q1 2023 forecasts for Saudi banks, firms

30/03/2023 Argaam

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SICO Bank published its Q1 2023 forecasts for some Tadawul-listed banks and firms under its coverage.

Al Rajhi Bank is expected post a 2% rise year-on-year (YoY) in the first-quarter net profit to 4.20 billion. 

Telecom operator stc is predicted to post a net profit of SAR 3.25 billion by the end of the three-month period. 

Below is a list of SICO Bank’s Q1 2023 estimates for the banks and firms under its coverage:

SICO Bank’s Q1 2023 Forecasts (SAR mln)

Company

Q1 2023 Estimates

(SAR mln)

YoY Change

Al Rajhi Bank

4209

+2%

Alinma

971

+18%

ANB

798

+23%

BSF

1002

+15%

SNB

4683

+4%

Riyad Bank

1996

+29%

SABB

1485

+48%

Telecommunication Sector

stc

3250

+7%

Mobily

449

+41%

Cement Sector

Arabian Cement

39

(7%)

City Cement

37

+115%

Eastern Cement

63

+117%

Hail Cement

15

--

Najran Cement

46

+97%

Qassim Cement

61

+143%

Saudi Cement

94

+54%

Southern Cement

108

+24%

Tabuk Cement

10

--

Umm Al Qura Cement

( 2)

--

Yamama Cement

93

+214%

Yanbu Cement

63

+60%

Petrochemical Sector

SABIC Agri-Nutrients

1149

(54%)

Yansab

(102)

--

Maaden

1198

(45%)

Foods and Retail Sector

Almarai

372

(12%)

Al Othaim

92.6

+1%

BinDawood Holding

59

(11%)

Jarir

258

+3%

Herfy

9.1

(68%)

Americana

64.2

--

Insurance Sector

Bupa Arabia

157

+67%

Tawuniya

79

+292%

Other Sectors

SGS

(30)

--

Saudi Ceramics

49

(5%)

Fitness Time

62

+35%

Sulaiman Al Habib

410

+5%

Mouwasat 

186

+24%


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