- Alinma Bank‘s 2Q profit reached 1.42 billion riyals, up 16% year-over-year (YoY), exceeding the estimate of 1.33 billion riyals.
- Operating income was 2.75 billion riyals, an increase of 13% YoY, and above the estimated 2.68 billion riyals.
- Impairments totalled 326.6 million riyals, a slight increase of 0.4% YoY.
- Pretax profit amounted to 1.58 billion riyals, rising 16% YoY and beating the estimate of 1.55 billion riyals.
- Total assets of the bank stood at 260.14 billion riyals.
- Investments reached 46.63 billion riyals.
- Net loans were 189.91 billion riyals.
- Total deposits amounted to 205.36 billion riyals.
- Analyst recommendations: 3 buys, 12 holds, 1 sell.
A look at Alinma Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
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
Alinma Bank, a Shariah law-compliant commercial Islamic bank, has been assigned promising Smart Scores across various factors. With solid scores in Value, Growth, Resilience, and Momentum, the outlook for Alinma Bank appears positive in the long term. A high Value score suggests that the bank is attractively priced relative to its fundamentals, indicating potential for growth. The Growth score further strengthens this outlook, indicating the potential for Alinma Bank to expand and increase its market share over time.
Although the Dividend and Resilience scores are slightly lower, the overall outlook for Alinma Bank remains optimistic. The Resilience score of 3 indicates that the bank has the capability to weather economic uncertainties and challenges. With a respectable Momentum score, Alinma Bank shows signs of steady performance and market traction. Investors may find Alinma Bank as a compelling choice for long-term investment given its favorable Smart Scores across key factors.
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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