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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 | 10,655.61 | 36.51 | 0.34 % |
Company Indices
| ALRAJHI | 94.85 | 1.55 | 1.66% |
| ALBILAD | 25.42 | 0.16 | 0.63% |
| ANB | 22.36 | 0.05 | 0.22% |
| BJAZ | 12.01 | 0.07 | 0.59% |
| RIBL | 26.08 | 0.10 | 0.38% |
| SAB | 30.06 | (0.10) | (0.33%) |
| SAMBA | 39.05 | 1.70 | 4.62% |
| BSF | 16.15 | 0.02 | 0.12% |
| Alawwal | 19.58 | 0.28 | 1.45% |
| SAIB | 13.33 | 0.01 | 0.08% |
| ALINMA | 24.82 | 0.06 | 0.24% |
| SNB | 35.18 | 0.04 | 0.11% |
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