Ubhar Capital sets SAB rating, TP

Logo of Saudi Awwal Bank (SAB)

Ubhar Capital maintained its "Accumulate" recommendation on Saudi Awwal Bank (SAB), with a target price (TP) of SAR 38.7 per share.

The lender's Q2 2025 net profit grew 5% year-on-year (YoY) to SAR 2.1 billion but remained flat sequentially as higher net expected credit loss charges offset gains in operating income.

"Provisions rose sharply to SAR 0.2 billion in Q2 2025, up 92% YoY and 52% QoQ, primarily due to higher impairment charges on loans," the brokerage said.

It expects this positive trajectory to continue.

Ubhar Capital - Saudi Awwal Bank 24/07/2025