Riyad Capital issues Q2 2023 earnings estimates for banks, firms
- Date: 11-Jul-2023
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
Riyad Capital issues Q2 2023 earnings estimates for banks, firms
Riyad Capital issued Q2 2023 earnings forecasts for several banks and companies under coverage, with Al Rajhi Bank and Saudi Basic Industries Corp. (SABIC) in the lead.
Riyad Capital expected SABIC to report a profit decline of 85% year-on-year (YoY) to SAR 1.22 billion in Q2 2023, while Al Rajhi Bank is forecast to post earnings drop of 4% YoY to SAR 4.1 billion in the three-month period.
The following table shows Riyad Capital’s earnings forecasts for banks and firms under coverage for Q2 2023:
Riyad Capital Q2 2023 Profit Estimates
Company
Q2 2023
Change YoY
Average Profit Forecasts
Banks
BSF
1132
+35%
Average Forecasts
SAB
1858
+72%
Average Forecasts
ANB
1096
+55%
Average Forecasts
Al Rajhi
4107
(4%)
Average Forecasts
Albilad
567
+11%
Average Forecasts