Saudi banks are expected to report positive financial results in the third quarter of 2020, Al Rajhi Capital said in a recent report.

 

The research firm added that the level of non-performing assets (NPA) will remain unknown even after the release of Q3 2020 financial results.

 

The banking sector witnessed strong growth, which is expected to support the positive performance of banks’ stock prices.

 

Al Rajhi Capital added that the sector is expected to benefit from the excess liquidity after reducing the financing cost.

 

The mortgage market and the implementation of the second phase of the housing program, which will run for five years starting from 2021, will ensure a steady income for the sector.

 

Al Rajhi Capital noted that investors could also factor in the risk that dividends might not be distributed for the whole of 2020, after no dividends were announced for H1 2020.

 

The following table illustrates Al Rajhi Capital’s forecasts for 2020 and 2021:

 

Al Rajhi Capital’s forecasts for Saudi banks’ profit (SAR mln)

Bank 

2020  

(forecast) 

Variation YoY

2021 

(forecast) 

Variation YoY

SAIB

909

+279%

329

(64%)

Albilad

1434

+15%

1632

+14%

Samba

4106

+3%

4291

+5%

Al Rajhi

9546

(6%)

11473

+20%

Riyad

4896

(13%)

4824

(1%)

NCB

9816

(15%)

10256

+4%

Alinma

1915

(24%)

1964

+3%

AlJazira

663

(33%)

930

+40%

BSF

2047

(34%)

2022

(1%)

ANB

1983

(34%)

1744

(12%)

SABB

(4164)

(248%)

2814

--
 
Al Rajhi Capital-Saudi Banks 26/10/2020

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Quotes

ALRAJHI
93.50
0.50 0.54%
ALBILAD
35.95
(0.10) (0.28%)
ANB
19.50
(0.10) (0.51%)
BJAZ
16.54
(0.10) (0.60%)
RIBL
26.60
0.00 0.00%
SAB
31.50
(0.20) (0.63%)
SAMBA
38.50
1.70 4.62%
BSF
31.20
0.00 0.00%
SAIB
13.90
(0.04) (0.29%)
ALINMA
27.65
0.20 0.73%
SNB
33.10
(0.20) (0.60%)


Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request