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Saudi banks’ aggregate Q1 profit 8% above forecasts
23/04/2017
Argaam Exclusive
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The aggregate net profit of Tadawul-listed banks reached SAR 11.6 billion in Q1 2017, 8 percent above average analysts’ forecasts of SAR 10.8 billion, according to data compiled by Argaam.
Company Estimates Comparisons
| Company | 2017 - Q1 (net income) | 2017 - Q1 (e) | Change |
| ALRAJHI | 2,220.90 | 2,136.21 | 4.0 % |
| ALINMA | 421.32 | 413.39 | 1.9 % |
| BJAZ | 215.97 | 170.68 | 26.5 % |
| SAMBA | 1,230.59 | 1,196.55 | 2.8 % |
| BSF | 1,103.89 | 959.00 | 15.1 % |
| ALBILAD | 229.38 | 209.67 | 9.4 % |
| ANB | 768.05 | 667.33 | 15.1 % |
| RIBL | 1,047.36 | 929.47 | 12.7 % |
| SAB | 1,035.98 | 988.00 | 4.9 % |
| Alawwal | 323.95 | 433.50 | (25.3 %) |
| SAIB | 344.94 | 294.00 | 17.3 % |
| SNB | 2,702.56 | 2,391.00 | 13.0 % |
| Total | 11644.88 | 10788.79 | 7.9 % |
Most banks’ net profits beat estimates, led by Bank Aljazira, which posted a 27 percent higher-than-expected rise.
Saudi Investment Bank’s (SAIB) net profit came in 17 percent above expectations. Net profits of Arab National Bank (ANB) and Banque Saudi Fransi beat forecasts by 15 percent each.
National Commercial Bank’s (NCB) net profit came in 13 percent higher than analysts’ estimates.
Meanwhile, Alawwal Bank reported the only miss of 25 percent.
Actual Profit versus Estimates
| Company | 2017 - Q1 (net income) | 2017 - Q1 (e) | Most Accurate Research Company |
| ALRAJHI | 2,220.90 | 2,185.00 | Sico |
| ALINMA | 421.32 | 424.00 | Riyad Capital |
| BJAZ | 215.97 | 189.20 | Value Capital |
| SAMBA | 1,230.59 | 1,252.20 | OSOOL AND BAKHEET |
| BSF | 1,103.89 | 991.00 | OSOOL AND BAKHEET |
| ALBILAD | 229.38 | 221.20 | AlJazira Capital |
| ANB | 768.05 | 690.00 | Riyad Capital |
| RIBL | 1,047.36 | 996.40 | OSOOL AND BAKHEET |
| SAB | 1,035.98 | 1,009.00 | Riyad Capital |
| Alawwal | 323.95 | 376.00 | SNB Capital |
| SAIB | 344.94 | 294.00 | SNB Capital |
| SNB | 2,702.56 | 2,391.00 | Sico |
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MarketIndices
| TASI | 11,552.98 | (81.44) | (0.70 %) |
Company Indices
| ALRAJHI | 97.50 | (0.50) | (0.51%) |
| ALBILAD | 29.15 | (0.50) | (1.69%) |
| ANB | 22.26 | 0.32 | 1.45% |
| BJAZ | 16.76 | 0.00 | 0.00% |
| RIBL | 30.35 | (0.20) | (0.66%) |
| SAB | 34.45 | (0.50) | (1.44%) |
| SAMBA | 39.05 | 1.70 | 4.62% |
| BSF | 17.28 | 0.26 | 1.52% |
| Alawwal | 19.58 | 0.28 | 1.45% |
| SAIB | 14.70 | 0.10 | 0.68% |
| ALINMA | 29.30 | 0.00 | 0.00% |
| SNB | 34.20 | (0.30) | (0.87%) |
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