Alinma Bank Banks

BUY
SAR 21.98
SAR 29.50
34%
  • 65,940,000,000
  • 3,000,000,000
  • 19.95 L H 26
  • 118,071,300

Financial

FY2021A FY2022A FY2023A FY2024A FY2025A
PE (x) 25.17 19.06 14.14 11.90 11.13
PB (x) 2.56 2.45 2.25 2.02 1.85
Dividend Yield (%) 2.27 2.88 2.58 5.00 4.55

Recent Research

  • Saudi Flag
    FIRST LOOK NOTES
    04 Nov 2026
    Alinma Bank
    BUY
    SAR 21.36
    SAR 29.50
    +38.11%

    Saudi Equity Research - Alinma Bank 3Q26 - First Look Note

    CASA ratios declined to 47.2% in 3Q26 from 52.8% in 3Q25, due to rise in time deposits. Liquidity ratios remained healthy with NSFR at 111.3% and LCR at 136% in 3Q26. Cost of risk rose by 5bps YOY to 0.51% in 9M26, whereas 84% of the impairment allowance in 9M26 pertains to corporate and 16% for retail financing.
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  • Saudi Flag
    EARNINGS CALL INSIGHT
    04 Nov 2026
    Alinma Bank
    BUY
    SAR 21.36
    SAR 29.50
    +38.11%

    Saudi Equity Research - Alinma Bank 3Q26 - Earnings Call Insight

    ALINMA’s net profit declined marginally 0.2% YOY to SAR 1,588 Mn in 3Q26, in line with our estimate of SAR 1,643 Mn, primarily due to lower non-funded income, higher operating expenses and impairment charges, partially offset by growth in net-funded income.
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  • Saudi Flag
    FIRST LOOK NOTES
    23 Jul 2026
    Alinma Bank
    BUY
    SAR 23.80
    SAR 29.50
    +23.95%

    Saudi Equity Research - Alinma Bank 2Q26 - First Look Note

    Alinma Bank (ALINMA/ The Bank) reported a 1.4% YOY increase in net profit to SAR 1,595 Mn in 2Q26, lower than our estimate of SAR 1,700 Mn. The increase in net profit was primarily driven by higher net funded income, partially offset by lower non-funded income, increased operating expenses, and higher impairment and zakat charges.
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  • Saudi Flag
    FIRST LOOK NOTES
    30 Apr 2026
    Alinma Bank
    BUY
    SAR 24.68
    SAR 29.50
    +19.53%

    Saudi Equity Research - Alinma Bank 1Q26 - First Look Note

    Net advances rose 13.8% YOY and 3.7% QOQ to SAR 238.3 Bn, while customer deposits increased 9.5% YOY and 5.4% QOQ to SAR 239.6 Bn in 1Q26. Impairment decreased 31.2% YOY to SAR 156 Mn in 1Q26, driven by better asset quality and recoveries from written-off accounts.
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  • Saudi Flag
    FIRST LOOK NOTES
    10 Feb 2026
    Alinma Bank
    BUY
    SAR 28.60
    SAR 33.00
    +15.38%

    Saudi Equity Research - Alinma Bank 4Q25 - First Look Note

    Net advances rose 13.6% YOY to SAR 229.7 Bn in 4Q25 and are expected to grow in low-teens in 2026, driven by mid-corporate, SME, and retail growth. Board approved a buyback of up to 5 Mn shares for the Employee Stock Incentive Plan.
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  • Saudi Flag
    FIRST LOOK NOTES
    24 Oct 2025
    Alinma Bank
    BUY
    SAR 26.48
    SAR 33.00
    +24.62%

    Saudi Equity Research - Alinma Bank 3Q25 - First Look Note

    The Bank’s net advances rose 15.2% YOY and 3.2% QOQ, while the deposits increased 12.2% YOY and 2.0% QOQ during 3Q25. The calculated loan-to-deposit ratio increased to 96.2% in 3Q25, compared to 95.1% in 2Q25.
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