Saudi banks' Q3 2019 aggregate profit beats forecasts by 9%
The aggregate net profit of Tadawul-listed banks came in at SAR 12.2 billion in Q3 2019, exceeding average analysts’ estimates of SAR 11.22 billion by 9 percent, according to data compiled by Argaam.
Two banks reported lower-than-expected earnings; namely Arab National Bank (ANB) and The National Commercial Bank (NCB), falling short of analysts’ forecasts by 5 percent and 2 percent respectively.
Meanwhile, earnings of Saudi British Bank (SABB), Samba Financial Group (SAMBA), Al Rajhi Bank and Banque Saudi Fransi (BSF) exceeded forecasts by 43 percent, 33 percent, 9 percent, and 9 percent, consecutively.
Company Estimates Comparisons
Company | 2019 - Q3 (a) | 2019 - Q3 (e) | Change |
ALRAJHI | 2,738.82 | 2,704.33 | 1.3 % |
ALBILAD | 326.63 | 324.78 | 0.6 % |
ALINMA | 712.78 | 691.80 | 3.0 % |
SAMBA | 1,225.24 | 1,031.33 | 18.8 % |
BSF | 880.00 | 843.67 | 4.3 % |
ANB | 834.76 | 866.40 | (3.7 %) |
BJAZ | 256.87 | 262.95 | (2.3 %) |
SAB | 1,177.99 | 743.75 | 58.4 % |
RIBL | 1,506.35 | 1,420.00 | 6.1 % |
SNB | 2,550.70 | 2,550.70 | 0.0 % |
Total | 12210.14 | 11439.70 | 6.7 % |
Actual Profit versus Estimates
Company | 2019 - Q3 (a) | 2019 - Q3 (e) | Most Accurate Research Company |
ALRAJHI | 2,738.82 | 2,675.00 | Riyad Capital |
ALBILAD | 326.63 | 326.60 | OSOOL AND BAKHEET |
ALINMA | 712.78 | 712.00 | OSOOL AND BAKHEET |
SAMBA | 1,225.24 | 1,226.00 | OSOOL AND BAKHEET |
BSF | 880.00 | 880.00 | OSOOL AND BAKHEET |
ANB | 834.76 | 834.80 | OSOOL AND BAKHEET |
BJAZ | 256.87 | 256.90 | OSOOL AND BAKHEET |
SAB | 1,177.99 | 1,009.50 | OSOOL AND BAKHEET |
RIBL | 1,506.35 | 1,420.00 | OSOOL AND BAKHEET |
SNB | 2,550.70 | 2,550.70 | OSOOL AND BAKHEET |
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MarketIndices
TASI | 12,174.76 | (28.17) | (0.23 %) |
Company Indices
ALRAJHI | 84.50 | (0.30) | (0.35%) |
ALBILAD | 34.95 | 0.40 | 1.16% |
ANB | 21.40 | (0.10) | (0.47%) |
BJAZ | 16.56 | (0.20) | (1.20%) |
RIBL | 27.60 | (0.45) | (1.61%) |
SAB | 38.65 | (0.25) | (0.64%) |
SAMBA | 39.05 | 1.70 | 4.62% |
BSF | 37.40 | (0.50) | (1.32%) |
Alawwal | 19.58 | 0.28 | 1.45% |
SAIB | 12.80 | 0.06 | 0.47% |
ALINMA | 32.80 | 0.10 | 0.31% |
SNB | 38.00 | (0.40) | (1.04%) |
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