Riyadh-Mubasher: The earnings of Saudi banks are likely to be higher year-on-year in the first quarter of 2015. However, Bank Albilad and Bank AlJazira are expected to post profit declines quarter-on-quarter, said KSB Capital.
The research firm added that Q1 profits of Al Rajhi Bank and Alinma Bank will rise 6% and 17% y-o-y, respectively. In addition, Q1 earnings of Bank AlJazira will grow 1%.
The earnings of Yanbu Cement and Southern Cement will jump 19% and 37% y-o-y in Q1, respectively. Qassim Cement will also see 3% profit growth.
Meanwhile, Saudi Cement profit will decline 1%, and Tabuk Cement earnings will fell 15%.
