Research firm upgrades Bank Albilad stock

Al-Jazira Capital reported that Bank Albilad's net profit for the second quarter of 2026 increased by 3.4% compared to the same period last year, reaching approximately 792 million SAR, surpassing expectations of 786 million SAR. It was also noted that provisions expenses were 30.3% lower than expected, while operating expenses increased unexpectedly. Income from financing and investments grew by 8.1% to 1.27 billion SAR, despite a 6.3% decline in non-commission income to 341 million SAR. Al-Jazira Capital forecasts a compound annual growth rate of around 7.5% for adjusted earnings between 2025 and 2028. They upgraded their recommendation for the stock to "Increase Holdings" with a target price of 28.8 SAR and an estimated return on equity of approximately 14.9%.

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