Recent Research

• 

  FIRST LOOK NOTES

  24 Jul 2025

  Arab National Bank

  BUY

  Last Closing Price

  SAR 21.29

  Target Price

  SAR 25.00

  Upside (%)

  +17.43%

  Arab National Bank (ARNB)- 2Q25 First Look Note

  ARNB’s funded income grew 9.8% YOY to SAR 3,901 Mn, owing to 15.4% YOY rise in net advances, and 11.1% YOY growth in the investment portfolio. Net loans and advances grew 15.4% YOY and 4.1% QOQ to SAR 186.5 Bn in 2Q25, whereas the customer deposits also rose by 14.9% YOY and 3.1% QOQ to SAR 201.7 Bn

  Download
• 

  FIRST LOOK NOTES

  30 Apr 2025

  Arab National Bank

  BUY

  Last Closing Price

  SAR 21.58

  Target Price

  SAR 25.00

  Upside (%)

  +15.85%

  Saudi Equity Research - Arab National Bank (ARNB) 1Q25 - First Look Note

  ARNB’s funded income grew 2.3% YOY to SAR 3,569 Mn in 1Q25 due to rise in advances and investment portfolio. Cost-to-income ratio remained steady at 31.6% in 1Q25 compared to 1Q24. Impairment expenses rose 26.5% YOY to SAR 205 Mn in 1Q25 in line with portfolio growth and impending macroeconomic environment.

  Download
• 

  FIRST LOOK NOTES

  28 Feb 2025

  Arab National Bank

  ACCUMULATE

  Last Closing Price

  SAR 21.66

  Target Price

  SAR 25.00

  Upside (%)

  +15.42%

  Saudi Equity Research - Arab National Bank (ARNB) 4Q24 - First Look Note

  The cost-to-income ratio improved from 37.8% in 4Q23 to 35.7% in 4Q24. The board of directors have decided to distribute cash dividends of SAR 0.65 per share for 2H24. Share of results of associates grew from negative SAR 17 Mn in 4Q23 to positive SAR 132 Mn in 4Q24.

  Download
• 

  FIRST LOOK NOTES

  30 Oct 2024

  Arab National Bank

  BUY

  Last Closing Price

  SAR 19.20

  Target Price

  SAR 23.00

  Upside (%)

  +19.79%

  Saudi Equity Research - Arab National Bank (ARNB) 3Q24 - First Look Note

  Total assets rose 10.4% YOY and 2.6% QOQ to SAR 240.7 Bn in 3Q24 due to growth in advances and investments. Net Advances rose 11.4% YOY and 2.9% QOQ to SAR 166.3 Bn in 3Q24. Customer’s deposits expanded substantially 17.3% YOY and 3.0% QOQ to SAR 180.8 Bn in 3Q24.

  Download
• 

  FIRST LOOK NOTES

  11 Oct 2024

  Arab National Bank

  ACCUMULATE

  Last Closing Price

  SAR 20.22

  Target Price

  SAR 22.50

  Upside (%)

  +11.28%

  Higher non-funded income and lower impairment drove profitability

  ARNB’s funded income grew 15.7% YOY to SAR 3,554 Mn in 2Q24 attributable to healthy loan growth of 8.6% and an increase in net investments portfolio by 7.8% in 2Q24.

  Download
• 

  FIRST LOOK NOTES

  22 May 2024

  Arab National Bank

  HOLD

  Last Closing Price

  SAR 21.14

  Target Price

  SAR 22.50

  Upside (%)

  +6.43%

  Large exposure to corporate sector drove NIMs

  Arab National Bank (“ARNB”,” the Bank”) recorded 15.7% YOY growth in net profit to SAR 1,236 Mn in 1Q24, higher than our estimate of SAR 1,075 Mn.

  Download

Load more reports