Arab National Bank Updated to Buy as FAB Notes Q3 Results

05:27 AM EST, 11/03/2026 (MT Newswires) -- FAB Securities changed its rating on Arab National Bank (SASE:1080) to buy from hold, with the price target of 25 Saudi riyals unchanged, following its third-quarter results. The Saudi-listed lender posted a third-quarter attributable net profit of 1.35 billion riyals, up 1.7% year over year and in line with FAB's estimate of 1.34 billion riyals, according to a Tuesday note. Meanwhile, its operating income climbed 7.4% to 2.55 billion riyals, compared with the research firm's forecast of 2.69 billion riyals. "Disciplined cost management and resilient asset quality are expected to support long-term profitability, while its capital position provides capacity for further balance sheet expansion. However, volatility in non-funded income, deposit growth lagging loan growth and potential funding cost pressures remain key risks to profitability," FAB said.