‎AlJazira Capital issues Q2 2023 earnings forecast

‎AlJazira Capital issues Q2 2023 earnings forecast

AlJazira Capital published its Q2 2023 profit estimates for Tadawul-listed banks and firms under coverage, with Al Rajhi Bank being the frontrunner.

Al Rajhi Bank’s earnings are forecast to retreat 4% year-on-year (YoY) to SAR 4.09 billion in Q2 2023.

Similarly, Saudi Basic Industries Corp.’s (SABIC) earnings are projected to decline YoY to SAR 1.39 million in Q1 2023.

Meanwhile, telecom operator stc’s profit is estimated to rise SAR 3.56 billion in profit for the three-month period.

The below table illustrates AlJazira Capital’s Q2 2023 estimates for a number of banks and firms under coverage:









Q2 2023 Forecasts (SAR mln)











Company







Q2 2023 Estimates







YoY Change











Banking Sector











Al Rajhi Bank







4091.0







(4%)











Alinma Bank







1084.0







+17%











Bank Albilad







587.0







+15%











Telecommunication Sector











stc







3559.0







+25%











Mobily







496.0







+38%











Zain KSA







89.0







(33%)











Materials Sector











SABIC







1387.0