Saudi Arabia · Delayed Price · Currency is SAR Alinma Bank Earnings Call Transcripts
Fiscal Year 2026
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9M financing and assets each grew 10%, deposits rose 11%, and net income increased 4%; NPM was 3.45%. FY guidance now implies ~17% ROE and 55-65 bps cost of risk amid credit uncertainty and deposit competition.
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Net income rose 15% year-on-year, with strong growth in financing, deposits, and digital initiatives. NIMs contracted due to elevated liquidity costs, prompting revised guidance for NIM, cost-to-income, and ROE. Project finance and retail segments are expected to drive second-half growth.
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Financing and assets grew 6% YTD, with net income up 6% year-on-year and cost to income improving. Impairment charges rose due to a large canceled project, prompting a revision in cost of risk and ROE guidance. Liquidity and capital ratios remain strong.
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Net income rose 11% year-on-year, with strong retail and corporate growth, improved asset quality, and robust liquidity. Strategic initiatives in digital and AI are progressing, while guidance for asset growth, ROE, and cost-to-income remains unchanged for 2026.
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Financing and deposits grew 12% and 11% year-to-date, with net income up 9% year-on-year. NIM compressed due to higher funding costs, but margin improvement is expected in Q4. Capitalization remains strong, and the bank is preparing to launch its 2030 strategy.
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The new 2030 strategy builds on strong financial and digital achievements, targeting innovation, customer centricity, and profitability through AI and data-driven models. ROE is targeted above 22%, with a focus on scalable operations, diversified funding, and new business initiatives in underserved segments.