‎Riyad Capital issues Q3 2023 earnings estimates for banks, firms

‎Riyad Capital issues Q3 2023 earnings estimates for banks, firms

Riyad Capital issued Q3 2023 earnings forecasts for several banks and companies under coverage, with Saudi Basic Industries Corp. (SABIC), Al Rajhi Bank, and Saudi Electricity Co. (SEC) in the lead.

Riyad Capital expected SABIC to incur losses of SAR 717 million, while Al Rajhi Bank is forecast to post an earnings drop of 4% year-on-year (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 Q3 2023:

*Net profit before deducting speculation instruments