- Alinma Bank‘s third-quarter profit reached 1.59 billion riyals, surpassing the estimate of 1.54 billion riyals.
- The bank’s operating income stood at 2.96 billion riyals, exceeding the estimated 2.93 billion riyals.
- Earnings per share (EPS) significantly outperformed expectations at 1.72 riyals, compared to the estimate of 0.57 riyals.
- Impairments were reported at 256.3 million riyals, slightly above the estimated 255.8 million riyals.
- Pre-tax profit was 1.78 billion riyals, marginally higher than the forecasted 1.77 billion riyals.
- Total assets grew to 307.21 billion riyals, comfortably beating the estimate of 283.13 billion riyals.
- Investments totaled 52.15 billion riyals.
- Net loans were recorded at 225.68 billion riyals, narrowly surpassing the expected 225.36 billion riyals.
- Total deposits were slightly below estimates, with 234.62 billion riyals compared to the anticipated 236.02 billion riyals.
- Analyst recommendations include 12 ‘buy’ ratings, 8 ‘hold’ ratings, and 0 ‘sell’ ratings for Alinma Bank.
A look at Alinma Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.0 |
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
Alinma Bank, a Shariah law-compliant Islamic bank, is poised for a positive long-term outlook based on the Smartkarma Smart Scores. With impressive scores of 4 across the board in categories such as Value, Dividend, Growth, Resilience, and Momentum, Alinma Bank seems to be in a strong position. These scores indicate that the company is performing well in terms of its value proposition, dividend payouts, growth potential, ability to withstand economic challenges, and market momentum.
Investors looking for a stable and potentially lucrative option in the banking sector may find Alinma Bank appealing due to its consistent and solid performance across various key indicators. With a holistic view of the company’s standing in the market, the Smartkarma Smart Scores paint a promising picture for Alinma Bank‘s future prospects.
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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