- Al Rajhi Bank‘s annual profit reached 19.72 billion riyals, surpassing the estimated 18.66 billion riyals.
- The bank’s operating income was reported at 32.06 billion riyals, above the expected 31.62 billion riyals.
- Impairments amounted to 2.12 billion riyals, slightly below the forecast of 2.13 billion riyals.
- Earnings per share stood at 4.67 riyals, beating the estimate of 4.58 riyals.
- Pretax profit was 21.97 billion riyals, higher than the projected 21.44 billion riyals.
- Total assets came in at 974.39 billion riyals, exceeding the anticipated 913.02 billion riyals.
- Net loans reached 693.41 billion riyals, surpassing the estimate of 656.05 billion riyals.
- Total deposits were slightly lower than expected, with 628.24 billion riyals compared to an estimate of 637.22 billion riyals.
- Operating expenses totaled 7.97 billion riyals, marginally under the forecast of 7.98 billion riyals.
- Investment analysts’ recommendations were mixed, with 7 buy ratings, 12 hold ratings, and 1 sell rating.
A look at Al Rajhi Bank Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 3 | |
Dividend | 3 | |
Growth | 3 | |
Resilience | 2 | |
Momentum | 4 | |
OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Al Rajhi Bank, a provider of banking services in Saudi Arabia, is positioned for a positive long-term outlook based on its Smartkarma Smart Scores. With strong momentum indicated by a score of 4, the bank shows promising growth potential. Additionally, its value, dividend, and growth scores all standing at 3 signify a solid foundation for future performance. However, the resilience score of 2 suggests some vulnerability to external pressures, which may require careful risk management strategies to ensure stability.
In summary, Al Rajhi Bank, known for its diverse banking offerings including credit cards, insurance, and various loan products, demonstrates an overall positive outlook driven by strong momentum and fundamental scores. While the resilience score indicates a need for caution in navigating challenging market conditions, the bank’s value, dividend, and growth factors provide a solid footing for long-term growth and profitability.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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