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Saudi banks’ aggregate Q4 profit 3% below forecasts
The aggregate net profit of Tadawul-listed banks came in at SAR 10.62 billion in Q4 2017, 3 percent below average analysts’ estimates of SAR 10.91 billion, according to data compiled by Argaam.
Five banks reported lower-than-expected earnings, led by Banque Saudi Fransi with a miss of 54 percent, compared to profit forecasts of SAR 925 million.
The Saudi British Bank (SABB) followed, posting net profit of SAR 706 million, 28 percent lower than estimates of SAR 978 million.
On the other hand, the Saudi Investment Bank’s (SAIB) net profit came in 27 percent above expectations. Net profits of Alawwal Bank and Riyad Bank beat forecasts by 14 percent and 13 percent, respectively.
National Commercial Bank’s (NCB) net profit came in 11 percent higher than analysts’ estimates.
Company Estimates Comparisons
| Company | 2017 - Q4 (a) | 2017 - Q4 (e) | Change |
| ALRAJHI | 2,452.97 | 2,325.87 | 5.5 % |
| ALINMA | 560.05 | 553.17 | 1.2 % |
| ALBILAD | 225.86 | 255.85 | (11.7 %) |
| ANB | 634.43 | 702.64 | (9.7 %) |
| BJAZ | 193.75 | 229.80 | (15.7 %) |
| SAB | 706.11 | 978.07 | (27.8 %) |
| SAMBA | 1,212.92 | 1,206.09 | 0.6 % |
| BSF | 422.77 | 925.66 | (54.3 %) |
| RIBL | 973.88 | 863.55 | 12.8 % |
| Alawwal | 326.52 | 287.29 | 13.7 % |
| SNB | 2,556.39 | 2,306.75 | 10.8 % |
| SAIB | 351.86 | 275.50 | 27.7 % |
| Total | 10617.49 | 10910.24 | (2.7 %) |
Actual Profit versus Estimates
| Company | 2017 - Q4 (a) | 2017 - Q4 (e) | Most Accurate Research Company |
| ALRAJHI | 2,452.97 | 2,400.00 | OSOOL AND BAKHEET |
| ALINMA | 560.05 | 560.00 | Albilad Capital |
| ALBILAD | 225.86 | 239.30 | OSOOL AND BAKHEET |
| ANB | 634.43 | 646.00 | Sico |
| BJAZ | 193.75 | 206.70 | OSOOL AND BAKHEET |
| SAB | 706.11 | 955.00 | SNB Capital |
| SAMBA | 1,212.92 | 1,206.00 | SNB Capital |
| BSF | 422.77 | 850.00 | SNB Capital |
| RIBL | 973.88 | 883.18 | Alistithmar Capital |
| Alawwal | 326.52 | 340.00 | Riyad Capital |
| SNB | 2,556.39 | 2,385.40 | Alistithmar Capital |
| SAIB | 351.86 | 301.00 | SNB Capital |
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MarketIndices
| TASI | 11,948.72 | (148.01) | (1.22 %) |
Company Indices
| ALRAJHI | 92.30 | (1.20) | (1.28%) |
| ALBILAD | 37.20 | (0.70) | (1.86%) |
| ANB | 20.18 | (0.42) | (2.05%) |
| BJAZ | 17.82 | (0.18) | (1.00%) |
| RIBL | 28.10 | (0.30) | (1.05%) |
| SAB | 31.40 | (0.65) | (2.03%) |
| SAMBA | 39.05 | 1.70 | 4.62% |
| BSF | 32.75 | (0.25) | (0.76%) |
| Alawwal | 19.58 | 0.28 | 1.45% |
| SAIB | 14.66 | (0.10) | (0.68%) |
| ALINMA | 28.65 | (0.40) | (1.38%) |
| SNB | 33.35 | (0.55) | (1.63%) |
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