Saudi Investment Bank (TADAWUL:1030) Full Year 2024 Results

Key Financial Results

• Revenue: ر.س3.89b (up 7.8% from FY 2023).
• Net income: ر.س1.79b (up 12% from FY 2023).
• Profit margin: 46% (up from 44% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: ر.س1.43 (up from ر.س1.28 in FY 2023).

1030 Banking Performance Indicators

• Non-performing loans: 1.04% (down from 1.50% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Saudi Investment Bank Revenues Disappoint

Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in Saudi Arabia.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

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