Admirers Grow for Biggest Saudi Bank on Index-Addition Bet - Bloomberg:
"Saudi Arabia’s largest lender has become a favorite among equity analysts and investors as its business improves and the potentially lucrative inclusion in an emerging-markets benchmark index approaches next month.
Al Rajhi Bank was upgraded to buy by Goldman Sachs Group Inc. on Aug. 8. An analyst at Bank of America Merrill Lynch followed suit eight days later, citing improving net interest margin estimates, lower funding costs and reduced risk expenses at the Riyadh-based lender. Deutsche Bank AG and Dubai-based Arqaam Capital have Al Rajhi as one of their “top picks” among Saudi stocks."
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