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FAB Reiterates Buy Rating on Arab National Bank After Q2 Net Profit Beat

MT Newswires·07/22/2026 06:26:54
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06:26 AM EDT, 07/22/2026 (MT Newswires) -- FAB Securities on Tuesday kept Arab National Bank's (SASE:1080) rating after the lender released its second-quarter results. "We maintain our BUY rating on Arab National Bank, with a target price of SAR 25.00. Arab National Bank reported steady profitability in 2Q26, supported by a marginal growth in net funded income, while asset quality continued to improve," analysts said Tuesday. "Looking ahead to the remainder of 2026, ARNB is well-positioned to deliver steady growth, supported by its strong balance sheet, diversified revenue streams, and continued expansion in its lending and investment portfolios aligned with Vision 2030." Supported by an increase in net-funded income, as well as a decrease in net allowance charges for ECL and other provisions, the lender logged a 6.5% annual rise in its net profit to 1.42 billion Saudi riyals, surpassing the firm's estimate of 1.34 billion riyals.