Alinma Bank Kept at Buy as FAB Notes Q2 Results

05:02 AM EDT, 07/24/2026 (MT Newswires) -- FAB Securities retained its investment view on Alinma Bank (SASE:1150) as analysts took note of the Saudi lender's second-quarter results. "We maintain our BUY rating on ALINMA with a target price of SAR 29.50. ALINMA continued to deliver its earnings growth momentum in 2Q26, with net profit increasing 1.4% YOY to SAR 1,595 Mn, underpinned by higher net funded income, which helped offset elevated operating expenses, impairment charges and zakat expenses, alongside softer non-funded income," according to a first look note published Thursday. Analysts at FAB were expecting a net profit of 1.70 billion Saudi riyals for the period. The bank recorded net funded income of 2.55 billion riyals, against the research firm's forecast of 2.59 billion riyals. "Overall, we remain positive on ALINMA, supported by sustained financing growth, a strengthening funding mix, robust asset quality, comfortable capitalization and healthy shareholder distributions," FAB wrote.