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00:00 Despite what the markets and investors are watching for the results of the companies'
00:07 business, this time the banking sector is being monitored, but there is still a positive
00:12 outlook, such as the results of the first quarter and the first results of 2024.
00:17 The banking sector is expected to see a growth in profits for the Saudi sector, Saudi banks
00:23 and expected growth for the first quarter compared to the first quarter of 2023, with
00:29 profits exceeding 18 billion riyals.
00:35 This is at the expected level of profits for these Saudi banks.
00:40 As for the revenues, we also expect to see a growth in revenues exceeding 34 billion
00:48 riyals over the first quarter of this year.
00:52 This means that these profits and revenues are supported by interest rates, whether
00:59 in terms of the high interest rates of Saudi banks, and even at the level of interest rates
01:04 that we have talked about during the past periods.
01:07 We are still talking about high interest rates for banks.
01:15 We stand united with the Saudi banks and our expectations of each Saudi bank for
01:22 profits and the results of its business for the first quarter.
01:25 The Ahl al-Tawqaat Bank is expected to see some recovery within the 2% limit.
01:29 On the other hand, we are talking about the major Saudi banks, which we expect to grow
01:34 by 4% compared to the expected profit margin of 4.3 billion riyals.
01:42 As for the remaining Saudi banks, we also have expectations that they will achieve
01:48 growth in their profits for this quarter of 2024.
01:52 The Riyadh Bank, the first and also the Inma Bank, is expected to grow by 40% compared
02:00 to the first quarter of 2023.
02:03 Even at the level of the movements that we have seen on the banking sector during the
02:09 past period, we have seen some movements or some of the decline in this indicator.
02:15 Since the beginning of 2024, the decline in the Egyptian banking sector in Saudi is
02:22 approximately 4% or 3%.
02:24 We are talking about the lowest level in four months.
02:28 Here we are talking about the largest leading sectors in the Saudi market, because
02:33 the movements are important for the main market in terms of the movements of the banking sector.
02:40 As for the markets, we are talking about the profit margins of the leading sectors.
02:44 The Rashi Bank has 22x, as well as the Inma Bank 17x, the Ahli Bank 12x, and the first
02:50 has 11x.
02:51 As for the Riyadh Bank, we are still talking about these levels in terms of profit margins,
02:57 if we compare them with the profit margins of the Saudi market in the banking sector.
03:03 But the expectations are still the same, or for the international ranking agencies today
03:09 for the Saudi banking sector, we are talking about the slow growth of the banking interest
03:15 rate, but compared to the year 2023, which was at 10% levels, it may go down over the
03:23 course of this year between 8% and 9% according to the expectations of the international
03:29 ranking agencies for the banking sector.
03:32 As for the level of liquidity, the income for this sector is still in a reasonable range
03:38 according to these expectations, and that is the result of the continuation of the inflation
03:44 of deposits from government entities, and this is what we have seen, in light of the
03:48 high inflation, we will see a bigger flow of deposits for banks in the Saudi market.
03:56 This is the expected outlook for the results of the Saudi banks in the first quarter of
04:01 2024.
04:02 [BLANK_AUDIO]