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  • Saudi Flag
    FIRST LOOK NOTES
    21 Jul 2026
    Bank Albilad
    BUY
    SAR 24.49
    SAR 30.00
    +22.50%

    Saudi Equity Research - Bank Albilad (ALBI) 2Q26 - First Look Note

    Albilad Bank’s (“ALBI”, “The Bank”) net profit increased by 3.4% YOY to SAR 792 Mn in 2Q26, in line with our estimate of SAR 800 Mn. The growth in net profit is mainly attributable to the higher net funded income, driven by rise in investment and financing activities, partially offset by decline in non-funded income, along with higher G&A expenses, impairment charges and zakat expenses.
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  • Saudi Flag
    FIRST LOOK NOTES
    27 Apr 2026
    Bank Albilad
    BUY
    SAR 25.00
    SAR 30.00
    +20.00%

    Saudi Equity Research - Bank Albilad (ALBI) 1Q26 - First Look Note

    Net advances increased 15.5% YOY and 6.2% QOQ to SAR 129.8 Bn in 1Q26. While customer deposits grew 13.1% YOY and 5.6% QOQ to SAR 140.3 Bn in 1Q26. ALBI’s headline loan-to-deposit ratio increased from 92.0% in 4Q25 to 92.5% in 1Q26.
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  • Saudi Flag
    FIRST LOOK NOTES
    23 Feb 2026
    Bank Albilad
    BUY
    SAR 25.60
    SAR 31.70
    +23.83%

    Saudi Equity Research - Bank Albilad (ALBI) 4Q25 - First Look Note

    ALBI’s loan-to-deposit ratio declined from 92.3% in 3Q25 to 92.0% in 4Q25. Funded income increased 8.7% YOY to SAR 2,381 Mn in 4Q25, supported by rise in net advances and investments, partially offset by a decline in asset yield.
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  • Saudi Flag
    FIRST LOOK NOTES
    28 Oct 2025
    Bank Albilad
    BUY
    SAR 29.28
    SAR 31.70
    +8.27%

    Saudi Equity Research - Bank Albilad (ALBI) 3Q25 - First Look Note

    ALBI’s loan-to-deposit ratio decreased from 93.4% in 2Q25 to 92.3% in 3Q25. Net funded income rose 3.0% YOY to SAR 1,195 Mn in 3Q25, due to a rise in income from investing and financing assets. Cost-to-income rose 5 bps YOY and 76 bps QOQ to 42.2% in 3Q25.
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  • Saudi Flag
    FIRST LOOK NOTES
    23 Jul 2025
    Bank Albilad
    BUY
    SAR 25.62
    SAR 31.70
    +23.73%

    Bank Albilad (ALBI) - 2Q25 First Look Note

    ALBI’s loan-to-deposit ratio increased from 90.7 in 1Q25 to 93.4% in 2Q25. Net funded income rose 8.5% YOY to SAR 1,177 Mn in 2Q25.
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  • Saudi Flag
    FIRST LOOK NOTES
    30 Apr 2025
    Bank Albilad
    HOLD
    SAR 29.00
    SAR 38.00
    +31.03%

    Saudi Equity Research - Bank Albilad (ALBI) 1Q25 - First Look Note

    ALBL’s loan-to-deposit ratio increased from 89.8% in 4Q24 to 90.7% in 1Q25. The Bank’s net funded income rose 11.2% YOY to SAR 1,162 Mn in 1Q25. The Bank’s investment portfolio boosted 14.7% YOY and 5.4% QOQ to SAR 26.4 Bn in 1Q25.
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  • Saudi Flag
    FIRST LOOK NOTES
    28 Feb 2025
    Bank Albilad
    HOLD
    SAR 37.90
    SAR 38.00
    +0.26%

    Saudi Equity Research - Bank Albilad (ALBI) 4Q24 - First Look Note

    NIMs grew 11 bps YOY but fell 14 bps QOQ to 3.0% in 4Q24. The Bank’s cost-to-income ratio improved 162 bps YOY to 44.3% in 4Q24. ALBI recorded an impairment reversal of SAR 58 Mn in 4Q24 compared to an impairment charge of SAR 47 Mn in 4Q23.
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  • Saudi Flag
    FIRST LOOK NOTES
    31 Oct 2024
    Bank Albilad
    HOLD
    SAR 36.65
    SAR 37.00
    +0.95%

    Saudi Equity Research - Bank Albilad (ALBI) 3Q24 - First Look Note

    ALBI’s net advances grew 5.0% YOY and 2.3% QOQ to SAR 106.7 Bn in 3Q24. Customer deposits grew 12.3% YOY and 6.8% QOQ to SAR 122.3 Bn in 3Q24. Loan-to-deposit ratio declined from 91.1% in 2Q24 to 87.2% in 3Q24. Cost to income improved 102 bps YOY, however increased 109 bps QOQ to 42.1% in 3Q24, primarily due to a decline in D&A and G&A expenses.
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  • Saudi Flag
    FIRST LOOK NOTES
    11 Oct 2024
    Bank Albilad
    REDUCE
    SAR 37.10
    SAR 34.00
    -8.36%

    Higher operating income and improved cost efficiency boosted profitability

    ALBI’s net advances grew 5.5% YOY and 1.0% QOQ to SAR 104.3Bn in 2Q24, owing to marginal growth in commercial financing while healthy growth in retail loans.
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