SICO Bank targets Al Rajhi Q2 net profit at SAR 3.34 billion with sector margins under pressure from tighter liquidity conditions.
Alpha Score of 40 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
SICO Bank released its Q2 2026 earnings estimates for a handful of Tadawul-listed banks and companies it covers.
The brokerage expects Al Rajhi Bank to report a net profit of about SAR 3.34 billion for the three months through June. If realized, that would be roughly in line with the previous quarter and slightly ahead of the year-ago period, SICO's analysis shows.
SICO also looked at a broader set of Saudi lenders. The brokerage said aggregate Q2 net income for the banking sector it models would dip 2% sequentially, as net interest margins face pressure from tighter liquidity conditions. Loan growth is expected to hold in the low-to-mid single digit range, according to the firm.
Among non-bank names under SICO's coverage, the broker flagged potential headroom on earnings for Petrochemicals firms, citing firmer product spreads against a steady crude benchmark. It declined to provide specific per-name estimates for the broader coverage list in the release.
The market has been pricing a cautious sector view since the last quarter, with Tadawul-listed bank stocks mostly flat on the month. SICO's numbers offer a narrower confirmation window: next month's actual prints will either defend current valuations or open the door to a repricing lower.
SICO publishes its quarterly estimate round ahead of most local banks' formal reporting schedules. Companies typically file Tadawul disclosures within two weeks of quarter-end.
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