Showing 9 of 16
  • Saudi Flag
    EARNINGS CALL INSIGHT
    07 Aug 2026
    Saudi National Bank
    BUY
    SAR 40.86
    SAR 50.00
    +22.37%

    Saudi Equity Research - Saudi National Bank (SNB) 2Q26 - Earnings Call Insight

    Saudi National Bank reported a 1.6% YOY increase in funded income to SAR 15.4 Bn in 2Q26, primarily due to a 1.3% YOY increase in funded income from the financing portfolio coupled with a 2.8% YOY increase in funded income from the investment portfolio.
  • Saudi Flag
    FIRST LOOK NOTES
    24 Jul 2026
    Saudi National Bank
    BUY
    SAR 39.56
    SAR 50.00
    +26.39%

    Saudi Equity Research - Saudi National Bank (SNB) 2Q26 - First Look Note

    Saudi National Bank (“SNB”/ “The Bank”) posted growth in net profit attributable to equity shareholders of 7.6% YOY to SAR 6,606 Mn in 2Q26, higher than our estimate of SAR 6,215 Mn. The increase was mainly driven by higher net funded and non-funded income, partially offset by a marginal increase in operating expenses and an impairment charge of SAR 258 Mn in 2Q26 compared to a reversal of SAR 170 Mn in 2Q25.
  • Saudi Flag
    FIRST LOOK NOTES
    23 Apr 2026
    Saudi National Bank
    BUY
    SAR 40.52
    SAR 50.00
    +23.40%

    Saudi Equity Research - Saudi National Bank (SNB) 1Q26 - First Look Note

    Net advances grew 3.7% YOY and marginally 0.5% QOQ to SAR 732.7 Bn in 1Q26, due to an increase in Retail financing. Customer deposits grew 6.2% YOY and 4.6% QOQ to SAR 665.5 Bn in 1Q26.
  • Saudi Flag
    FIRST LOOK NOTES
    29 Jan 2026
    Saudi National Bank
    ACCUMULATE
    SAR 45.00
    SAR 50.00
    +11.11%

    Saudi Equity Research - Saudi National Bank (SNB) 4Q25 - First Look Note

    Net advances grew 11.5% YOY and 0.6% QOQ to SAR 729.3 Bn in 4Q25, due to the growth in wholesale financing and mortgages. Customer deposits grew 9.7% YOY and declined marginally 0.5% QOQ to SAR 636.1 Bn in 4Q25.
  • Saudi Flag
    FIRST LOOK NOTES
    23 Oct 2025
    Saudi National Bank
    BUY
    SAR 39.02
    SAR 47.00
    +20.45%

    Saudi Equity Research - Saudi National Bank (SNB) 3Q25 - First Look Note

    Net advances grew 10.6% YOY and 1.4% QOQ to SAR 725.1 Bn in 3Q25, primarily driven by growth in wholesale financing and mortgages. Non-funded income grew strongly 20.8% YOY to SAR 2,838 Mn in 3Q25.
  • Saudi Flag
    FIRST LOOK NOTES
    22 Jul 2025
    Saudi National Bank
    BUY
    SAR 36.66
    SAR 47.00
    +28.21%

    Saudi National Bank (SNB)-2Q25 First Look Note

    Net advances grew 12.2% YOY and 1.2% QOQ to SAR 714.8 Bn in 2Q25, primarily driven by a 20% YOY growth in wholesale financing and 4% YOY rise in mortgage. Cost to income ratio decreased from 28.5% in 2Q24 to 26.9% in 2Q25, indicating enhanced operational efficiency.
  • Saudi Flag
    FIRST LOOK NOTES
    24 Apr 2025
    Saudi National Bank
    BUY
    SAR 35.70
    SAR 47.00
    +31.65%

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

    The Bank’s non-funded income grew strongly 16.4% YOY to SAR 2,361 Mn in 1Q25, primarily driven by an increase in domestic banking service fees and higher investment income. Net advances grew 13.0% YOY and 8.0% QOQ to SAR 706.4 Bn in 1Q25, owing to an increase in Wholesale and Retail financing portfolio.
  • Saudi Flag
    FIRST LOOK NOTES
    20 Feb 2025
    Saudi National Bank
    BUY
    SAR 35.00
    SAR 47.00
    +34.29%

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

    Calculated NIMs fell 20 bps YOY and remained flat on a QOQ basis in 4Q24 at 2.7%. The Bank’s customer deposits fell 1.7% YOY and 8.6% QOQ to SAR 579.8 Bn during 4Q24 attributable to a decline in Time as well as CASA deposits. The Bank declared cash dividends of SAR 1.0 per share for 2H24, amounting to SAR 6,000 Mn.
  • Saudi Flag
    FIRST LOOK NOTES
    29 Oct 2024
    Saudi National Bank
    BUY
    SAR 33.75
    SAR 47.00
    +39.26%

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

    Net advances grew 10.0% YOY and 2.8% QOQ to SAR 655 Bn in 3Q24, owing to strong momentum across retail mortgages and wholesale financing. Customer deposits grew 1.5% YOY and 0.2% QOQ to SAR 634 Bn in 3Q24. Cost-to-income declined marginally from 29.3% in 3Q23 to 29.0% in 3Q24.

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