Saudi Investment Bank Initiated at Hold as United Securities Notes Corporate Segment Growth, Low NPL Ratio

05:59 AM EDT, 10/05/2026 (MT Newswires) -- United Securities LLC started coverage of The Saudi Investment Bank (SASE:1030) with a hold rating and a price target of 15.90 Saudi riyals. In a Sunday research report, analysts highlighted the Saudi lender's corporate banking segment, which they expect to continue driving earnings growth going forward. The company forecasts mid-to-high single-digit loan growth, boosted by higher corporate loans, a "healthy" origination pipeline, and a stable overall lending appetite. Amid its high corporate exposure, the research firm took note of the company's low non-performing loan ratio, standing at 0.91% of its loan book as of the first half. Combined with its 201.8% provision coverage ratio as of the first half, United Securities said these correspond to a "strong buffer" against possible asset-quality pressures amid geopolitical tensions. "We forecast operating income to grow at a 5% CAGR over 2025-30E, driven by 7% growth in net interest income and 13% growth in fee income over the same period. This reflects the bank's focus on optimising its cost of funds and increasing the contribution of non- interest income," analysts wrote.