Bank Albilad Kept at Buy as FAB Notes Q2 Results

06:35 AM EDT, 07/22/2026 (MT Newswires) -- FAB Securities reiterated its investment view on Bank Albilad (SASE:1140) following the company's second-quarter report. "We maintain our BUY rating on ALBI with a target price of SAR 30.00. ALBI delivered a 3.4% YOY increase in net profit during 2Q26, supported by continued growth in net funded income driven by higher financing and investment activities, partially offset by decline in non-funded income and operating expenses," analysts said Tuesday. "The Bank maintained healthy balance sheet expansion, with net advances increasing 15.3% YOY and 2.8% QOQ to SAR133.4 Bn in 2Q26, supported by continued growth in financing activities." For the second quarter, the lender's net profit reached 792 million Saudi riyals, in line with FAB's 800 million-riyal estimate. Meanwhile, total operating income was 1.61 billion riyals, against the research firm's estimate of 1.64 billion riyals. "Overall, its strong balance sheet, stable asset quality and continued growth in financing and investment activities position the Bank well to sustain earnings in 2026," FAB added.