SICO Bank issues Q1 2024 forecasts for Saudi banks, firms

31/03/2024 Argaam Special

Tadawul trading screen


SICO Bank published its Q1 2024 forecasts for some Tadawul-listed banks and companies under its coverage.

Al Rajhi Bank is expected to post a net profit of about SAR 4.3 billion in Q1 2024, a 3% year-on-year increase.

Below is the list of SICO Bank’s Q1 2024 estimates for the banks and companies under its coverage:

SICO Bank’s Q1 2024 Forecasts (SAR mln)

Company

Q1 2024 (Projected)

Change (YoY)

Banks

Al Rajhi Bank

4280

+3%

Alinma Bank

1455

+50%

ANB

1069

--

BSF

1152

+7%

Riyad Bank

2051

+2%

SAB

1783

+1%

SNB

5087

+1%

ICT

solutions

294

(4%)

Etihad Etisalat

491

+6%

stc

2645

(15%)

Cement

Arabian Cement

76.9

+56%

City Cement

54.6

+98%

Eastern Cement

64.2

+15%

Hail Cement

31.1

+68%

Najran Cement

39.1

+35%

Qassim Cement

106

+92%

Saudi Cement

139

+13%

Southern Cement

68.3

+40%

Tabuk Cement

17.2

(11%)

Umm Al-Qura Cement

23.0

+238%

Yamama Cement

134.0

+19%

Yanbu Cement

87.6

+72%

Materials

Maaden

1621

+286%

Advanced

7.39

(83%)

Alujain

9.13

--

SABIC Agri-Nutrients

965.0

(2%)

Yansab

67.4

--

Food and Staples Retailing

Almarai

658

+4%

BinDawood Holding

89.6

+74%

Herfy

4.74

--

Jarir

263.0

+6%

Leejam

82.7

+32%

Al Othaim

127.0

+5%

Insurance

Bupa Arabia

242.0

--

Tawuniya

294.0

--

Healthcare

Sulaiman Al Habib

540.0

+10%

Mouwasat

169.0

+1%

Other Sectors

SGS

47.7

+19%

 

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