Recent Research

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  FIRST LOOK NOTES

  24 Oct 2025

  Riyad Bank

  BUY

  Last Closing Price

  SAR 27.22

  Target Price

  SAR 36.00

  Upside (%)

  +32.26%

  Saudi Equity Research - Riyad Bank (RIBL) 3Q25 - First Look Note

  Funded income rose 13.6% YOY to SAR 7,043 Mn supported by robust growth in advances, while funded expense recorded higher growth than income impacting net funded income. Non-funded income boosted 20.6% YOY to SAR 1,509 in 3Q25.

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  FIRST LOOK NOTES

  23 Jul 2025

  Riyad Bank

  BUY

  Last Closing Price

  SAR 27.50

  Target Price

  SAR 36.00

  Upside (%)

  +30.91%

  Riyad Bank (RIBL) 2Q25 - First Look Note

  Net loans and advances expanded 21.8% YOY and 4.6% QOQ to SAR 354.6 Bn in 2Q25, while customer deposits significantly rose 14.8% YOY and 4.2% QOQ to SAR 316.8 Bn in 2Q25. The loan-to-deposit grew marginally from 111.5% in 1Q25 to 111.9% in 2Q25.

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• 

  FIRST LOOK NOTES

  23 Apr 2025

  Riyad Bank

  BUY

  Last Closing Price

  SAR 30.95

  Target Price

  SAR 36.00

  Upside (%)

  +16.32%

  Saudi Equity Research - Riyad Bank (RIBL) 1Q25 - First Look Note

  Net Loans and advances grew 19.8% YOY and 5.9% QOQ to SAR 339 Bn in 1Q25. Riyad Bank customer deposits increased 12.2% YOY and declined 0.8% QOQ in 1Q25 to SAR 304.1 Bn.

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• 

  FIRST LOOK NOTES

  06 Mar 2025

  Riyad Bank

  BUY

  Last Closing Price

  SAR 30.00

  Target Price

  SAR 36.00

  Upside (%)

  +20.00%

  Saudi Equity Research - Riyad Bank (RIBL) 4Q24 - First Look Note

  The Bank’s witnessed robust growth in Corporate and Retail sectors, driving the net income in FY2024 with a healthy demand from corporates and SME’s. Net Loans and advances grew 16.7% YOY and 4.8% QOQ to SAR 320.1 Bn in 4Q24.

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  FIRST LOOK NOTES

  29 Oct 2024

  Riyad Bank

  BUY

  Last Closing Price

  SAR 25.80

  Target Price

  SAR 36.00

  Upside (%)

  +39.53%

  Saudi Equity Research - Riyad Bank (RIBL) 3Q24 - First Look Note

  Total assets rose 12.0% YTD to SAR 433.4 Bn in 3Q24 driven by 11.3% growth in advances and 13.8% expansion in investments. Loan & advances expanded 14.3% YOY and 4.9% QOQ to SAR 305.4 Bn in 3Q24. Customer’s deposits expanded 15.3% YOY and 6.4% QOQ to SAR 293.6 Bn in 3Q24.

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• 

  FIRST LOOK NOTES

  11 Oct 2024

  Riyad Bank

  BUY

  Last Closing Price

  SAR 25.15

  Target Price

  SAR 36.00

  Upside (%)

  +43.14%

  Higher fee income and lower impairment charges boosted profitability

  RIBL revised its cost of risk guidance from 65 – 75 bps to 55 – 65 bps and loan growth guidance to double-digit in FY2024.

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