Al Rajhi Bank Kept at Buy as FAB Notes 'Strong' Q3 Performance

06:50 AM EDT, 10/22/2026 (MT Newswires) -- FAB Securities retained its rating on Al Rajhi Bank (SASE:1120) as it took note of the lender's earnings performance for the third quarter in a first-look note published Thursday. "We maintain our rating to BUY on ALRAJHI with a target price of SAR 78.00. ALRAJHI delivered a strong earnings performance in 3Q26, supported by an increase in total operating income by 12.5% YOY caused by an increase in net financing and investment income and fees from banking services, partially offset by decrease in other operating income and exchange income, coupled with higher operating expenses, impairments, higher share of profit to NCI holders and zakat charges," analysts wrote. For the reporting period, the bank's attributable net profit increased 11.7% annually to 7.11 billion Saudi riyals, in line with the FAB estimate of 7.11 billion riyals. Total operating income, meanwhile, rose 12.5% year over year to 11.12 billion riyals, compared with the research firm's 10.92 billion-riyal forecast.