Bank Albilad’s 2017 earnings to rise 6% - Aljazira Capital

Riyadh – Mubasher: Aljazira Capital expects that Bank Albilad would achieve a net profit of SAR 855 million in 2017, with a 5.77% increase year-on-year.

“Albilad’s strong topline performance and higher operating income resulted from solid loans and deposit growth along with higher interest rates,” the report said.

Bank Albilad’s net profits rose 31.46% to SAR 229.4 million in the first quarter of 2017 compared to SAR 174.5 million in Q1-16.

Aljazira Capital noted that the bank is currently trading at a 12-month trailing price-earnings ratio (PE) of 12.85x as compared to a forward PE of 13.0x.

The research firm maintained its price target (PT) on the bank at SAR 19.9 with a “neutral” recommendation.

Mubasher Contribution Time: 20-Apr-2017 12:00 (GMT)
Mubasher Last Update Time: 20-Apr-2017 12:42 (GMT)

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