Bank Albilad’s Q3 2019 results meet expectations: Riyad Capital

Bank Albilad’s Q3 2019 net income of SAR 327 million was in-line with analysts’ expectations and market consensus of SAR 311 million and SAR 317 million, respectively, Riyad Capital said.

The brokerage firm said in a research note that net financing and deposits maintained their consistent growth trajectory that started in Q1 2017.

Riyad Capital maintained its “Sell” recommendation for Albilad’s share without changing the target price at SAR 20 per share.