HSBC Bank has issued Q1 2016 earnings forecasts for a number of Saudi-listed banks under its coverage.
National Commercial Bank (NCB) is expected to report a nine percent growth in Q1 2016 net profit to SAR 2.83 billion.
Al Rajhi Bank is forecast to post a net profit of SAR 1.56 billion, three percent higher than the previous year.
However, Riyad Bank and Arab National Bank (ANB) are expected to drop six percent to SAR 1.1 billion and two percent to SAR755 million, respectively, compared to Q1 2015.
|
Q1-2016 Profit Estimates (SAR mln) |
||
|
Bank |
Q1-2016 estimates |
Y-o-Y change |
|
Alinma |
365 |
+6% |
|
Al Rajhi |
1,560 |
+3% |
|
ANB |
755 |
(2%) |
|
BSF |
1,071 |
+2% |
|
Riyad |
1,106 |
(6%) |
|
NCB |
2,832 |
+9% |
|
Samba |
1,460 |
+14% |
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