Saudi banks are expected to post a combined profit of SAR 11.95 billion in the second quarter of this year, which would mark an eight percent year-on-year rise, according to projections of analysts.

 

Bank Aljazira is projected to record a profit surge of 282 percent in Q2-2015, followed by Bank Albilad at 15 percent.

 

A majority of the kingdom’s banks are likely to turn a profit for the April to June period, with the exception of Al Rajhi Bank. Saudi Arabia’s second largest bank by assets is seen to post an 11 percent profit drop, compared to the same quarter last year.

 

Analyst Estimates for Q2-2015 vs. Q2-2014 profits

Change (%)

2015 estimates

2014 profits

Number of analysts

Company

+6%

2,466

2,425

2

NCB

+7%

1,215

1,136

2

RIBL

+282%

638

167

4

Bank AlJazira

+9%

383

353

1

Saudi Investment Bank

+8%

520

480

2

Saudi Hollandi Bank

+8%

952

884

2

Banque Saudi Fransi

+3%

1,194

1,157

2

SABB

+8%

845

785

2

ANB

+5%

322

1,257

2

SAMBA

(11%)

1,729

1,949

5

Al-Rajhi Bank

+15%

235

204

4

Bank Albilad

+14%

352

308

5

Alinma Bank

+8%

11,950

11,107

5

Total
 

Among Saudi research firms, Osool & Bakheet Investment Co. issued projections for all Saudi banks. Alistithmar Capital released forecasts for 11 lenders, whereas Albilad Capital and Aljazira Capital each covered three banks.

 

Breakdown of Forecasts – Q2-2015

Average forecasts

Osool & Bakheet

Albilad Capital

Alistithmar

Capital

KSB Capital

 

Aljazira Capital

Company

2,566

2,552

-

2,580

-

 

-

NCB

1,215

1,216

-

1,214

-

 

-

RIBL

638

770

822

772

186

 

-

Bank AlJazira

383

383

-

-

-

 

-

Saudi Investment Bank

520

502

-

538

-

 

-

Saudi Hollandi Bank

952

930

-

974

-

 

-

Banque Saudi Fransi

1,194

1,133

-

1,254

-

 

-

SABB

845

790

-

900

-

 

-

ANB

1,322

1,265

-

1,379

-

 

-

SAMBA

1,729

1,778

1,724

1,671

1,730

 

1,743

Al-Rajhi Bank

235

223

-

232

248

 

238

Bank Albilad

352

363

365

351

332

 

349

Alinma Bank

 

 

Argaam Reports

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