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×Saudi banks’ Q3 net profit forecast to rise 11%
Saudi Tadawul-listed banks are expected to post an average 11 percent year-on-year (YoY) rise in Q3 2017 net profit to SAR 11.02 billion, based on estimates from investment firms compiled by Argaam.
Ten out of 12 banks are projected to record higher profit, led by Alinma Bank and The Saudi Investment Bank (SAIB) with increases of 54 percent and 41 percent YoY, respectively.
National Commercial Bank is likely to see its net income rise 14 percent YoY.
Al Rajhi Bank’s net earnings are forecast to grow by 10 percent YoY in the same period.
Meanwhile, expectations were negative for Samba Financial Group and Banque Saudi Fransi, which are expected to report profit declines of 4 percent and 1 percent YoY, respectively.
Company | No. of Analysts | 2016 - Q3 (a) | 2017 - Q3 (e) | Difference |
ALRAJHI | 8 | 2,009.49 | 2,203.90 | 9.7 % |
ALINMA | 8 | 311.61 | 480.03 | 54.0 % |
ALBILAD | 6 | 227.81 | 248.56 | 9.1 % |
ANB | 5 | 721.67 | 799.79 | 10.8 % |
BJAZ | 5 | 160.69 | 212.18 | 32.0 % |
SAB | 5 | 994.82 | 1,075.31 | 8.1 % |
SAMBA | 5 | 1,341.32 | 1,285.58 | (4.2 %) |
BSFR | 5 | 1,010.24 | 998.28 | (1.2 %) |
RIBL | 4 | 729.43 | 874.34 | 19.9 % |
Alawwal | 4 | 262.81 | 291.35 | 10.9 % |
SNB | 3 | 1,961.78 | 2,244.78 | 14.4 % |
SAIB | 2 | 219.43 | 308.80 | 40.7 % |
Total | 8 | 9,951.09 | 11022.89 | 10.8 % |
Osool & Bakheet provided estimates for 12 firms, followed by NCB Capital and Alistithmar Capital, which covered 11 firms.
Estimates per Analyst
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Market Index
TASI | 12,254.53 | (101.16) | (0.82 %) |
Stock Prices
ALRAJHI | 77.30 | (1.10) | (1.40%) |
ALBILAD | 43.55 | (0.95) | (2.14%) |
ANB | 28.75 | 0.10 | 0.35% |
BJAZ | 16.26 | 0.04 | 0.27% |
RIBL | 27.80 | (0.05) | (0.18%) |
SAB | 40.05 | 0.75 | 1.91% |
SAMBA | 39.05 | 1.70 | 4.62% |
BSFR | 36.15 | 0.05 | 0.14% |
Alawwal | 19.58 | 0.28 | 1.45% |
SAIB | 16.80 | (0.16) | (0.95%) |
ALINMA | 32.80 | (0.35) | (1.06%) |
SNB | 37.25 | 0.00 | 0.00% |
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