Alinma Bank Kept at Buy as FAB Notes 'Broadly Stable' Q3 Earnings

05:48 AM EST, 11/04/2026 (MT Newswires) -- FAB Securities affirmed its investment view on Alinma Bank (SASE:1150) following the company's third-quarter report. "We maintain our BUY rating on ALINMA with a target price of SAR 29.50. ALINMA reported broadly stable earnings in 3Q26, with net profit declining marginally by 0.2% YOY to SAR 1,588 Mn, as higher net funded income was offset by softer non-funded income, elevated impairment charges and higher operating expenses," according to a Wednesday first look note. Analysts at FAB were expecting a third-quarter net profit of 1.64 billion Saudi riyals for the Tadawul-listed lender. Meanwhile, Alinma Bank's operating income rose 5.3% year over year to 3.12 billion riyals, compared with the research firm's forecast of 3.18 billion riyals. "Overall, we remain positive on ALINMA, supported by sustained financing growth, robust asset quality, comfortable capitalization and healthy shareholder distributions, although softer non-funded income remains key monitorable," analysts wrote.