Recent Research

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  EARNINGS CALL INSIGHT

  12 Aug 2026

  The Saudi Investment Bank

  BUY

  Last Closing Price

  SAR 13.93

  Target Price

  SAR 17.80

  Upside (%)

  +27.78%

  Saudi Equity Research - Saudi Investment Bank (SAIB) 2Q26 - Earnings Call Insight

  SAIB’s funded income rose 3.7% YOY to SAR 2,482 Mn, while funded expenses increased 6.3% to SAR 1,583 Mn, mainly due to higher customer deposits, resulting in a 0.7% decline in net funded income to SAR 899 Mn. Non-funded income increased 26.0% YOY to SAR 207 Mn in 2Q26, mainly driven by fees income and unrealised gain on financial instruments.

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  FIRST LOOK NOTES

  28 Jul 2026

  The Saudi Investment Bank

  BUY

  Last Closing Price

  SAR 13.80

  Target Price

  SAR 17.80

  Upside (%)

  +28.99%

  Saudi Equity Research - Saudi Investment Bank (SAIB) 2Q26 - First Look Note

  Total assets expanded 10.0% YOY and 2.1% QOQ to SAR 184.0 Bn in 2Q26, mainly due to strong growth in the loan book and investments portfolio. Customer deposits increased 21.3% YOY but decreased 1.1% QOQ to SAR 121.6 Bn in 2Q26.

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• 

  FIRST LOOK NOTES

  29 Apr 2026

  The Saudi Investment Bank

  BUY

  Last Closing Price

  SAR 13.36

  Target Price

  SAR 17.80

  Upside (%)

  +33.23%

  Saudi Equity Research - Saudi Investment Bank (SAIB) 1Q26 - First Look Note

  SAIB reported a 3.2% YOY increase in net profit to SAR 520 Mn in 1Q26, normalizing from the elevated base in 4Q25, which included a one-off land sale gain.

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  FIRST LOOK NOTES

  12 Feb 2026

  The Saudi Investment Bank

  BUY

  Last Closing Price

  SAR 14.00

  Target Price

  SAR 17.80

  Upside (%)

  +27.14%

  Saudi Equity Research - Saudi Investment Bank (SAIB) 4Q25 - First Look Note

  SAIB completed the sale of its 44.4% stake in a land plot on Khurais Road in Riyadh through a public auction, resulting in a significant increase in non-funded income. SAIB’s funded income increased by 7.3% YOY to SAR 2,487 Mn in 4Q25, supported by growth in net advances, higher investment income, and an improvement in asset yields.

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  FIRST LOOK NOTES

  27 Oct 2025

  The Saudi Investment Bank

  BUY

  Last Closing Price

  SAR 13.82

  Target Price

  SAR 17.80

  Upside (%)

  +28.80%

  Saudi Equity Research - The Saudi Investment Bank (SAIB) 3Q25 - First Look Note

  Net advances increased 16.5% YOY and 2.0% QOQ to SAR 110.6 Bn, along with 7.2% YOY and 4.9% QOQ growth in customer deposits to AED 105.1 Bn in 3Q25. Net advances to deposits ratio stood at 105.2% in 3Q25. Cost to income ratio decreased from 41.5% in 3Q24 to 40.2% in 3Q25, indicating enhanced operational efficiency.

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  INITIAL COVERAGE (EQUITIES)

  02 Sep 2025

  The Saudi Investment Bank

  BUY

  Last Closing Price

  SAR 13.81

  Target Price

  SAR 17.80

  Upside (%)

  +28.89%

  Saudi Equity Research - The Saudi Investment Bank (SAIB) - Initiation Coverage

  We initiate coverage on The Saudi Investment Bank (“SAIB” or “The Bank”) with a Valuation of SAR 17.80 per share. SAIB is a leading financial institution in the KSA, and provides a wide range of Shariah-compliant and conventional banking services to corporates, individuals, and SMEs. SAIB plays a key role in supporting trade finance, industrial development, and infrastructure projects in the Kingdom.

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