Saudi Equity Research - Banking Sector 3Q26 - Preview Note

The Saudi banking sector enters 3Q26 with credit demand remaining resilient, supported by continued investment activity, government-led projects and the ongoing expansion of the non-oil economy. Bank credit increased 4.0% YTD to SAR 3.16 Tn by July 2026, while private-sector claims including securit...

GCC fixed-income markets came under renewed pressure in 3Q26 as the June 2026 US-Iran memorandum of understanding expired in August 2026 and geopolitical tensions re-escalated, with the US reimposing a naval blockade on Iranian ports and shipping attacks continuing in the Strait of Hormuz.

UAE Equity Research - Banking Sector 3Q26 - Preview Note

UAE banks enter 3Q26 with sustained credit momentum, following broad-based balance-sheet expansion and healthy origination activity in 2Q26. Gross credit across the UAE banking sector rose 8.9% YTD to AED 2.8 Tn in July 2026, supported by growth in both domestic and credit outside the UAE.

Modon Holding: The support at AED 2.80 has held firmly, with the stock now broke over the near-term resistance level at AED 2.94. A sustained breakout above the resistance level of AED 3.06 could pave the way for further upside toward the previous high resistance at AED 3.20 (coinciding with the 100-week moving average), followed by AED 3.35 and AE...

Adnoc Gas PLC: The stock continues to hold firmly above its key support at AED 3.20, preserving a constructive technical structure. So long as this support base remains intact, the stock is well positioned to stage a recovery from current levels.