Riyadh – Mubasher: Alistithmar Capital announced its estimates for the profits of 33 Saudi-listed companies for the third quarter of 2016, including 11 banks.
Al Rajhi Bank came on top of the banks sector with an expectation for a 4.4% quarterly profits for the Q3-16 compared to Q2-16 and a 24.4% rise on an annual basis.
National Commercial Bank (NCB) was expected to retreat 6.6% quarter-on-quarter and to grow 14.2% year-on-year.
The investment company expected that Banque Saudi Fransi profits would slip 0.5% quarter-on-quarter and to increase 2.2% year-on-year, while a 2.3% decrease in profits quarter-on-quarter and a 6.3% decline year-on-year for Samba Financial Group.
Saudi British Bank (SABB) would add 0.2% on a quarter basis and 1.2% on an annual basis; Riyad Bank’s profits are projected to decline 8.7% quarter-on-quarter and to advance 16.5% year-on-year, the report said.
SABIC is likely to achieve a 7.9% growth in profits in Q3-16, compared to Q2-16, and an 8.8% decline compared to Q3-15.
Alistithmar Capital expected that Saudi Telecom Company’s (STC) profits would rise 15.7% on a quarter basis and fall 7.1% on an annual basis.
