United Securities Keeps Bank Albilad at Buy Post-Q2 Results

03:37 AM EDT, 08/19/2026 (MT Newswires) -- United Securities LLC reiterated its investment view on Bank Albilad (SASE:1140) following the release of the lender's financial statements for the second quarter. "ALBI's loan and deposit growth remained strong, even as operating income growth was driven by NII growth, which we view as positive. The results were below our expectations, with the operating income miss driven by weaker non-interest income. The net income shortfall was mainly due to higher provisioning expenses. Despite the miss, we continue to be positive on the outlook in the context of growth. We reiterate our BUY rating and maintain our target price at SAR 28/share," the research firm wrote on Tuesday. For the second quarter, Bank Albilad's net income increased 3.4% annually to 792 million Saudi riyals, missing United Securities' forecast by 3%. The lender's operating income was 1.6 billion riyals, which was below the research firm's estimate by 4.3%.