• Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
Saudi Business News
Wednesday, May 14
16:50
39 °c
Riyadh
No Result
View All Result
Saudi Business News
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
No Result
View All Result
Saudi Business News
No Result
View All Result

HomeFinanceSaudi Awwal Bank Reports Robust Financial Growth in Q1 2024

Saudi Awwal Bank Reports Robust Financial Growth in Q1 2024

Earnings Outshine Forecasts with Solid Revenue Surge

May 10, 2024
in Finance
Reading Time: 2 mins read
152
SHARES
1.9k
VIEWS
Share on FacebookShare on XShare on LinkedInShare on Telegram

Saudi Awwal Bank’s First Quarter of 2024 Exhibits Notable Gains

  • Revenue: SAR 3.45 billion (a 15% increase from Q1 2023).
  • Net income: SAR 2.04 billion (a 16% rise from Q1 2023).
  • Profit margin: Stands at 59%, consistent with Q1 2023.
  • EPS: SAR 0.96, an improvement from SAR 0.86 in Q1 2023.

All data represented in the chart pertains to the trailing 12-month period.

RelatedPosts

Bank Guarantee Reform Boosts Saudi Financial Sector

Saudi Arabia Leads Islamic Finance Growth in 2025

Saudi Stock Market Gains Driven by Key Sectors

Financial Performance Surpasses Market Expectations

Revenue has outperformed analyst projections by 3.0%. Earnings per share (EPS) also exceeded expectations, surpassing analyst estimates by 5.3%.

Future revenue is anticipated to experience an average annual growth of 7.8% over the next three years, which, while substantial, trails behind the 10% growth forecast for the banking sector in Saudi Arabia.

For a comparison, review the performance of the Saudi Banks industry.

Currently, the company’s stock has seen a slight decline of 2.4% from the previous week.

Evaluating Investment Risks

Investment risk remains an omnipresent consideration. One warning sign has been identified with Saudi Awwal Bank, which should be acknowledged as part of an investor’s due diligence process.

Deciphering Valuation Complexities

Our comprehensive analysis is designed to simplify the valuation process, offering insights into fair value estimates, potential risks, dividend prospects, insider transactions, and the overall financial well-being of the bank.

Important Notice:

This financial commentary is based solely on historical data and analyst forecasts, utilizing an objective approach. It is not intended as investment advice. The analysis does not include recommendations to buy or sell any securities and does not consider individual financial circumstances or goals. Our analysis is long-term in nature, driven by fundamental data, and may not account for recent company announcements or qualitative material. Simply Wall St holds no positions in any stocks mentioned.

Tags: Banking IndustryEarnings Per ShareQ1 2024 Financial ResultsRevenue GrowthSaudi Awwal Bank
Share61Tweet38Share11Share

© 2025 Copyright, Saudi Business News

No Result
View All Result
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line

© 2025 Copyright, Saudi Business News

Go to mobile version