SNB Capital
SNB Capital

SNB Capital

Coverage: Saudi Arabia
SNB Capital is the largest asset manager in the Kingdom of Saudi Arabia and the largest Sharia compliant asset manager globally and offers a full range of investment banking and brokerage services alongside its market-leading research.
Location: Riyadh

Latest articles from SNB Capital

Al Rajhi Bank: Loan growth and cost optimisation to drive profits

We remain Neutral on AlRajhi with a PT of SAR112.2. AlRajhi’s asset quality remains robust with a comfortable liquidity position. Mortgages to drive strong loan growth: Loan book grew by 10% qoq (+42% yoy) in Q2 21 to SAR390bn, taking the ytd growth ...
SNB Capital Nauman
Nauman Khan @ SNB Capital 13 September 2021

Saudi Cement Monthly – August 2021 – Slight recovery as summer season ends

Local cement sales for the Saudi cement sector stood at 3.98mn tons in August 2021 (-4.7% yoy, +13.6% mom). This represents a recovery after the weak sales recorded during July 2021 as the summer season is ending. However, the yoy decline is mainly a...
SNB Capital Iyad
Iyad Khalid Ghulam @ SNB Capital 9 September 2021

Saudi REIT Sector – Q3 21

After a strong start to the year, the Saudi REIT sector’s growth has relatively been muted so far in Q3 21, increasing 1.5% since our last REIT report in June 2021 (+17.5% ytd). The total number of properties in the Saudi REIT sector reached 173 comp...
SNB Capital Iyad
Iyad Khalid Ghulam @ SNB Capital 9 September 2021

FTSE Russell Semi-Annual Review – September 2021

FTSE Russell announced the outcome of its September 2021 Semi-Annual Index Review (SAIR), with changes for Saudi indices to be implemented on 20 September 2021 based on the closing prices of 16 September 2021. From Saudi’s perspective, two stocks wer...
SNB Capital Nauman
Nauman Khan @ SNB Capital 9 September 2021

Saudi Airlines Catering: Reduced losses in Q2 21

Catering reported a net loss of SAR17mn in Q2 21, lower than the SNB Capital and consensus estimates of a loss of SAR24mn and SAR18mn, respectively. This is the fifth consecutive quarterly net loss for Catering, mainly attributed to the impact of COV...
SNB Capital Iyad
Iyad Khalid Ghulam @ SNB Capital 15 August 2021

Saudi Ground Services: Higher losses due to the end of SANED program

SGS reported a loss of SAR93.2mn in Q2 21 vs a loss of SAR197.9mn in Q2 21 and a loss of SAR16.7mn in Q1 21. Operating loss stood at SAR63mn, compared to a loss of SAR196mn and SAR12mn in Q2 20 and Q1 21 respectively. Opex came-in at SAR74mn vs SAR69...
SNB Capital Iyad
Iyad Khalid Ghulam @ SNB Capital 15 August 2021