TheScreener - Bank Albilad (1140) BANK ALBILAD reduced its risk exposure resulting in an upgrade to Positive

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BANK ALBILAD reduced its risk exposure resulting in an upgrade to Positive

BANK ALBILAD (SA), a company active in the Money Center Banks industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 4 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Positive. As of the analysis date January 25, 2022, the closing price was SAR 56.00 and its potential was estimated at SAR 58.80.

26/01/2022 1 EN

Underlying

Bank Albilad

Bank Albilad is a commercial bank based in the Kingdom of Saudi Arabia. Co. is engaged banking, investment and other financial activities. Co. provides a full range of banking services, financing and investing activities through various Islamic instruments. Co.'s activities are conducted in accordance with Islamic Shariah and within the provisions of the Articles and Memorandum of Association, by-laws and the Banking Control Law. Co. provides these services through 102 banking branches and 151 exchange and remittance centers in the Kingdom of Saudi Arabia.

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SA000A0D9HK3 Saudi Stock Exchange Saudi Arabia

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Tellimer

Albilad: Q4 22 results analysis | Loan book qoq contraction is a key concern

Bank Albilad reported a net income of SAR540mn (+26.1% yoy, -0.2% qoq). This is in-line with the SNB Capital and consensus estimates of SAR549mn, SAR536mn, respectively. Total operating income increased by 17.7% yoy (+1.7% qoq) to SAR1.35bn and was marginally higher than our estimates. However, the impact was offset by higher than expected operating expense. Provisioning expense stood at SAR139mn (+14.3% yoy, +5.0% qoq), but was in-line with our estimates. Loan book grew by 9.9% yoy, but decl...

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Albilad: Strong earnings but in-line with expectations

Bank Albilad reported an in-line set of Q3 22 results, with net income increasing by 20.2% yoy (+5.8% qoq) to SAR541mn. This is in-line with the SNB Capital and consensus estimates of SAR533mn and SAR527mn, respectively. The growth in net income was primarily due to higher NSCI, which grew by 13.2% yoy (+4.9% qoq). Loan book remained strong (+12.8% yoy, +1.2% qoq), which we believe is the key highlight of the result. * Revenues increased by 12.9% yoy (5.8% qoq) to SAR1.33bn and were in-line ...

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Albilad: Q2 22 review – Loan growth continue to drive earnings

Bank Albilad reported a strong set of Q2 22 results, with net income growing by 22.8% yoy (+4.2% qoq) to SAR511mn. This is higher than the SNB Capital and consensus estimates of SAR485mn and SAR492mn, respectively. The growth in net income was primarily due higher NSCI, which grew by 13.6% yoy (+1.3% qoq). The strong loan book growth (+15.3% yoy, +5.6% qoq) is the key highlight of the result. * Revenue grew by 10.8% yoy (-0.9% qoq) to SAR1.25bn, marginally lower than our estimate of SAR1.31...

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BANK ALBILAD reduced its risk exposure resulting in an upgrade to Positive

Empowering Investors

Albilad: Q4 22 results analysis | Loan book qoq contraction is a key concern

Albilad: Strong earnings but in-line with expectations

Albilad: Q2 22 review – Loan growth continue to drive earnings

AC ENERGY CORP increases its risk exposure and slightly lowers to Neutral

With a more favourable environment, VUKILE PROPERTY improves to Positive

An unfavourable environment weighs on ROYAL BAFOKENG PLATINUM, which sees a downgrade to Slightly Negative

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