Saudi lenders post solid first-quarter gains
Al Rajhi and SNB outpaced estimates
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Al Rajhi and SNB outpaced estimates
Pricing landed just 104.7 bps all-in, with a 90 bps margin over SOFR
Cost of risk deteriorated on the back of an uptick in impairment charges
Most banks’ outlook was also revised to stable from positive
SNB’s sukuk offering wrapped up last Thursday
PLUS: UK Prime Minister Keir Starmer to visit Saudi Arabia next month
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The increase was supported by greater investments and operating income
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