- Saudi Awwal Bank reported a first-quarter profit of 2.14 billion riyals, exceeding estimates of 2.04 billion riyals.
- Operating income was below expectations, recorded at 3.62 billion riyals against an estimate of 3.84 billion riyals.
- Earnings per share (EPS) reached 0.98 riyals, slightly above the projected 0.96 riyals.
- Impairments were substantially lower, reported at 142 million riyals compared to expected 191.3 million riyals.
- Pretax profit stood at 2.45 billion riyals, marginally above the forecast of 2.4 billion riyals.
- Total assets substantially exceeded estimates, amounting to 425.71 billion riyals against a projected 340.1 billion riyals.
- Investments were valued at 103.54 billion riyals.
- Net loans surpassed expectations, recorded at 278.84 billion riyals compared to the forecast of 268.47 billion riyals.
- Total deposits reached 290.44 billion riyals, outperforming the estimate of 275.1 billion riyals.
- The bank has strong analyst support, with 15 buy recommendations, 3 holds, and no sell recommendations.
A look at Saudi Awwal Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.4 |
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
Analysts utilizing Smartkarma Smart Scores have evaluated the long-term outlook for Saudi Awwal Bank, assigning scores in various key areas. The bank has received a top score of 5 in both Value and Dividend categories, indicating strength in these fundamental aspects. Additionally, Saudi Awwal Bank scored a respectable 4 in Growth, Resilience, and Momentum, pointing to positive performance and stability across these dimensions. This suggests that the bank may offer attractive value, strong dividend potential, and solid growth prospects for investors seeking exposure to Saudi Awwal Bank‘s offerings.
Saudi Awwal Bank, operating as a bank, provides a range of financial services globally, including debit and credit cards, wealth management, investment, and corporate banking solutions. With its strong Smartkarma Smart Scores in Value and Dividend, coupled with solid scores in Growth, Resilience, and Momentum, Saudi Awwal Bank appears well-positioned to navigate the competitive banking landscape and potentially deliver favorable returns to stakeholders over the long term.
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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