Latest news with #SaudiNationalBank
Argaam
7 days ago
- Business
- Argaam
Qomel renews SAR 52M credit facility with SNB
Qomel Co. renewed a SAR 52 million Shariah-compliant credit facility with Saudi National Bank (SNB), the company said in a statement to Tadawul. The one-year financing facility was secured on July 23 and will be used to finance various projects. The facility is backed by a promissory note and project revenue assignment. There are no related parties to the contract, the statement added.
Business Recorder
23-07-2025
- Business
- Business Recorder
Most Gulf stocks rebound on earnings, US-Japan trade deal
Most Gulf stocks rebounded on Wednesday, buoyed by corporate earnings announcements and optimism following U.S. President Donald Trump's trade deal with Japan, which raised hopes for additional agreements before an impending tariff deadline. Trump said on Tuesday that the U.S. and Japan had reached a trade deal that includes a 15% tariff on U.S. imports from Japan. It followed an agreement with the Philippines by which the U.S. will collect a 19% tariff rate on imports from there. While the increasing imposition of tariffs around the world poses risks to global economic growth and oil demand, the recent U.S.-Japan deal helped ease investor concerns and supported oil prices. Saudi Arabia's benchmark index advanced 1.3%, led by a 1.1% gain in Al Rajhi Bank and a 2.3% increase in Saudi National Bank, the country's largest lender by assets. Earlier this week, the duo reported a rise in quarterly earnings. The Saudi stock market may experience a solid rebound if earnings releases continue to be positive and external pressures diminish, said Milad Azar, market analyst at XTB MENA. 'A potential trade deal with the European Union, with the August 1 deadline approaching, could also provide a boost.' Most Gulf bourses fall on US tariff concerns, weaker oil The Abu Dhabi index jumped 1.2%, with First Abu Dhabi Bank (FAB), the United Arab Emirates' largest lender, surging 5% - its biggest intraday gain in a month - after beating second-quarter profit estimates on strong revenue growth. Elsewhere, Bank of Sharjah soared 10%, a day after posting a sharp rise in half-yearly profit. Among other gainers, Space42 advanced 1% after securing a $695.5 million facility to fund next-generation UAE satellites. Dubai's main share index finished 1% higher, snapping a three-day losing streak, led by a 2.9% jump in top lender Emirates NBD (ENBD), as the bank is slated to report its quarterly earnings on Thursday. Qatar stock index edged 0.4% higher, touching a fresh two-and-a-half-year high, with most sectors closing in the green. Outside the Gulf, Egypt's blue-chip index rose 1%, continuing its ascent to record highs, with Commercial International Bank rising 1.5% following an increase in quarterly profit. ------------------------------------------ SAUDI ARABIA jumped 1.3% to 10,984 ABU DHABI rose 1.2% to 10,296 DUBAI climbed 1% to 6,086 QATAR gained 0.4% to 11,186 EGYPT added 1% to 34,125 BAHRAIN increased 0.3% to 1,950 OMAN eased 0.3% to 4,765 KUWAIT inched up 0.2% to 9,296 ------------------------------------------
Yahoo
23-07-2025
- Business
- Yahoo
Middle Eastern Dividend Stocks To Watch In July 2025
Amid concerns over U.S. tariffs and weaker oil prices, most Gulf stock markets have experienced declines, reflecting investor apprehension about global economic growth and its impact on the region's energy-dependent economies. In this environment, dividend stocks can offer a measure of stability by providing regular income streams to investors even when market volatility is high. Top 10 Dividend Stocks In The Middle East Name Dividend Yield Dividend Rating Saudi National Bank (SASE:1180) 5.57% ★★★★★☆ Saudi Awwal Bank (SASE:1060) 6.23% ★★★★★☆ Riyad Bank (SASE:1010) 6.55% ★★★★★☆ National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) 6.62% ★★★★★☆ Emirates NBD Bank PJSC (DFM:EMIRATESNBD) 3.88% ★★★★★☆ Emaar Properties PJSC (DFM:EMAAR) 6.67% ★★★★★☆ Commercial Bank of Dubai PSC (DFM:CBD) 5.34% ★★★★★☆ Banque Saudi Fransi (SASE:1050) 5.79% ★★★★★☆ Arab National Bank (SASE:1080) 6.28% ★★★★★☆ Anadolu Hayat Emeklilik Anonim Sirketi (IBSE:ANHYT) 6.74% ★★★★★☆ Click here to see the full list of 77 stocks from our Top Middle Eastern Dividend Stocks screener. Underneath we present a selection of stocks filtered out by our screen. Emaar Properties PJSC Simply Wall St Dividend Rating: ★★★★★☆ Overview: Emaar Properties PJSC, along with its subsidiaries, operates in property investment, development, and management both in the United Arab Emirates and internationally, with a market capitalization of AED132.58 billion. Operations: Emaar Properties PJSC generates revenue through its segments of Hospitality (AED2.07 billion), Real Estate (AED29.70 billion), and Leasing, Retail and Related Activities (AED7.11 billion). Dividend Yield: 6.7% Emaar Properties PJSC offers a dividend yield of 6.67%, placing it in the top 25% of dividend payers in the AE market. Despite an unstable dividend history, recent earnings growth of 26.1% and a reasonable payout ratio (61.8%) suggest dividends are well-covered by earnings and cash flows (29.3%). The stock trades at a significant discount to its estimated fair value, presenting potential value for investors seeking income despite past volatility in payments. Click to explore a detailed breakdown of our findings in Emaar Properties PJSC's dividend report. Our expertly prepared valuation report Emaar Properties PJSC implies its share price may be lower than expected. Göltas Göller Bölgesi Cimento Sanayi ve Ticaret Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Göltas Göller Bölgesi Cimento Sanayi ve Ticaret A.S. operates in the cement industry and has a market capitalization of TRY 6.23 billion. Operations: Göltas Göller Bölgesi Cimento Sanayi ve Ticaret A.S. generates revenue primarily from its Construction and Building Materials segment, amounting to TRY 5.49 billion, and its Energy segment, contributing TRY 469.97 million. Dividend Yield: 3.2% Göltas Göller Bölgesi Cimento Sanayi ve Ticaret's dividends are covered by earnings with a low payout ratio of 8.2%, but cash flow coverage is tighter at 89.6%. Despite being in the top 25% for dividend yield in Turkey, its dividend history has been volatile and unreliable over the past nine years. Recent earnings have declined significantly, with net income dropping to TRY 6.37 million from TRY 437.1 million year-on-year, raising concerns about future stability. Click here and access our complete dividend analysis report to understand the dynamics of Göltas Göller Bölgesi Cimento Sanayi ve Ticaret. Our valuation report unveils the possibility Göltas Göller Bölgesi Cimento Sanayi ve Ticaret's shares may be trading at a premium. Osmanli Yatirim Menkul Degerler Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Osmanli Yatirim Menkul Degerler A.S. operates in Turkey's capital markets, offering asset management, custody services, investment consultancy, and online trading platforms with a market cap of TRY4.17 billion. Operations: Osmanli Yatirim Menkul Degerler A.S. generates revenue primarily from its brokerage services, amounting to TRY7.76 billion. Dividend Yield: 3.4% Osmanli Yatirim Menkul Degerler's dividend payments are supported by a payout ratio of 57.2% and a cash payout ratio of 21.3%, indicating strong coverage by both earnings and cash flows. Although the dividend yield is among the top in Turkey, the company's short three-year history of paying dividends has been marked by volatility and unreliability. Recent financial results show a significant decline in net income to TRY 17.82 million from TRY 122.7 million year-on-year, potentially impacting future payouts. Unlock comprehensive insights into our analysis of Osmanli Yatirim Menkul Degerler stock in this dividend report. Insights from our recent valuation report point to the potential overvaluation of Osmanli Yatirim Menkul Degerler shares in the market. Taking Advantage Click through to start exploring the rest of the 74 Top Middle Eastern Dividend Stocks now. Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Interested In Other Possibilities? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DFM:EMAAR IBSE:GOLTS and IBSE:OSMEN. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
The National
21-07-2025
- Business
- The National
Saudi National Bank reports 17% rise in second quarter profit on investment income boost
Saudi National Bank, the biggest lender in Saudi Arabia by assets, reported a 17 per cent jump in its second-quarter net profit as provisions for bad loans fell and income from financing portfolio rose amid continued economic momentum. Net income for the three months to the end of June climbed to 6.13 billion Saudi riyals ($1.6 billion), the bank said in a regulatory filing on Monday to the Tadawul bourse, where its shares are traded. Total income from commissions at the end of the period jumped 4 per cent to 11.57 billion riyals. The rise in quarterly income was also supported by a '10.4 per cent increase in special commission income from investments portfolio', SNB said. Total operating profit climbed 6.6 per cent to 9.51 billion riyals during the reporting period. Banks in Saudi Arabia, the Arab world's biggest economy, are benefiting from robust economic momentum despite global headwinds and geopolitical turbulence in the wider Middle East. The economy of the world's leading oil producer is forecast to grow 3.5 per cent this year, and 3.9 per cent in 2026, amid the rapid unwinding of crude production caps, the International Monetary Fund said in June. 'Saudi Arabia's economy has demonstrated strong resilience to shocks, with non-oil economic activities expanding, inflation contained, and unemployment reaching record-low levels,' the IMF said at the time. The kingdom has been diversifying its economy away from oil with an emphasis on the development of sectors including financial services, capital markets technology, health, education, infrastructure and tourism as part of Vision 2030. The higher interest rate regime for longer is also supporting profitability of regional lenders. Currencies of most Gulf economies, with the exception of Kuwait, are pegged to the US dollar and Gulf central banks mostly mimic the Federal Reserve moves on interest rates. The Fed has kept the interest rates steady over the past few quarters, despite pressure from the White House to reduce the policy rate. SNB said the kingdom's economic growth has been reflected in its six-month performance as well. The lender's net profit for the January-June period rose by more than 18 per cent to 12.16 billion riyals while total comprehensive income jumped by about 50 per cent on an annual basis to 13 billion riyals. Assets at the end of the reporting period rose by 10.4 per cent on an annual basis to 1.2 trillion riyals. SNB's loans and advances portfolio increased by more than 12 per cent annually to 714.83 billion riyals.
Reuters
21-07-2025
- Business
- Reuters
Gulf stocks steady as strong earnings offset US tariff jitters
July 21 (Reuters) - Gulf stocks held their ground as investors weighed upbeat corporate earnings against lingering uncertainty over U.S. trade policy, after reports that Washington is pushing for a minimum 15% to 20% tariff in any deal with the European Union. Despite global jitters, strong results from regional heavyweights and steady oil prices helped offset external headwinds. Saudi Arabia's benchmark index (.TASI), opens new tab edged 0.2% higher, on course to snap its longest downturn in nearly two years, with financials driving the gains. Saudi National Bank ( opens new tab - the country's biggest lender by assets - gained 1.5% and Al Rajhi Bank ( opens new tab, the largest sharia-compliant bank, jumped over 1% after their strong second-quarter results lifted sentiment across the banking sector. However, the petrochemical giant SIPCHEM ( opens new tab fell 3.7% after posting a rare loss, breaking a five-year streak of profitability. Dubai's benchmark index (.DFMGI), opens new tab eased 0.1%, pressured by broad-based declines as investors locked in gains after a recent multi-year rally. Meanwhile, Air Arabia ( opens new tab surged 5.1% to a fresh record high after securing a bid to operate a new Saudi low-cost national airline, set to launch by 2030. Abu Dhabi Index (.FTFADGI), opens new tab posted a decline ahead of key upcoming earnings as investors looked for cues on the market's next direction. Qatar's stock index (.QSI), opens new tab added 0.1%, nearing a two-year peak, led by a 1.5% rise in Commercial Bank ( opens new tab. Among other gainers, Qatar International Islamic Bank ( opens new tab advanced 1.4% on a year-on-year rise of 5.2% in its six-month profit.
