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Saudi banks' Q3 2019 aggregate profit beats forecasts by 9%
06/11/2019
Argaam Exclusive
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The aggregate net profit of Tadawul-listed banks came in at SAR 12.2 billion in Q3 2019, exceeding average analysts’ estimates of SAR 11.22 billion by 9 percent, according to data compiled by Argaam.
Two banks reported lower-than-expected earnings; namely Arab National Bank (ANB) and The National Commercial Bank (NCB), falling short of analysts’ forecasts by 5 percent and 2 percent respectively.
Meanwhile, earnings of Saudi British Bank (SABB), Samba Financial Group (SAMBA), Al Rajhi Bank and Banque Saudi Fransi (BSF) exceeded forecasts by 43 percent, 33 percent, 9 percent, and 9 percent, consecutively.
Company Estimates Comparisons
| Company | 2019 - Q3 (net income) | 2019 - Q3 (e) | Change |
| ALRAJHI | 2,738.82 | 2,704.33 | 1.3 % |
| ALBILAD | 326.63 | 324.78 | 0.6 % |
| ALINMA | 712.78 | 691.80 | 3.0 % |
| SAMBA | 1,225.24 | 1,031.33 | 18.8 % |
| BSF | 880.00 | 843.67 | 4.3 % |
| ANB | 834.76 | 866.40 | (3.7 %) |
| BJAZ | 256.87 | 262.95 | (2.3 %) |
| SAB | 1,177.99 | 743.75 | 58.4 % |
| RIBL | 1,506.35 | 1,420.00 | 6.1 % |
| SNB | 2,550.70 | 2,550.70 | 0.0 % |
| Total | 12210.14 | 11439.70 | 6.7 % |
Actual Profit versus Estimates
| Company | 2019 - Q3 (net income) | 2019 - Q3 (e) | Most Accurate Research Company |
| ALRAJHI | 2,738.82 | 2,675.00 | Riyad Capital |
| ALBILAD | 326.63 | 326.60 | OSOOL AND BAKHEET |
| ALINMA | 712.78 | 712.00 | OSOOL AND BAKHEET |
| SAMBA | 1,225.24 | 1,226.00 | OSOOL AND BAKHEET |
| BSF | 880.00 | 880.00 | OSOOL AND BAKHEET |
| ANB | 834.76 | 834.80 | OSOOL AND BAKHEET |
| BJAZ | 256.87 | 256.90 | OSOOL AND BAKHEET |
| SAB | 1,177.99 | 1,009.50 | OSOOL AND BAKHEET |
| RIBL | 1,506.35 | 1,420.00 | OSOOL AND BAKHEET |
| SNB | 2,550.70 | 2,550.70 | OSOOL AND BAKHEET |
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MarketIndices
| TASI | 11,133.58 | 185.30 | 1.69 % |
Company Indices
| ALRAJHI | 105.40 | 3.20 | 3.12% |
| ALBILAD | 25.42 | 1.16 | 4.70% |
| ANB | 22.23 | 0.73 | 3.38% |
| BJAZ | 11.79 | 0.33 | 2.88% |
| RIBL | 27.40 | 0.42 | 1.55% |
| SAB | 35.30 | 0.42 | 1.21% |
| SAMBA | 39.05 | 1.70 | 4.62% |
| BSF | 17.84 | 0.35 | 1.99% |
| Alawwal | 19.58 | 0.28 | 1.45% |
| SAIB | 13.56 | 0.21 | 1.57% |
| ALINMA | 27.28 | 0.60 | 2.25% |
| SNB | 42.98 | 1.00 | 2.38% |
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