Alinma Bank’s Q2 2019 profit beats estimates, says NCB Cap

04/09/2019 Argaam

 

Alinma Bank’s Q2 2019 net profit of SAR 676 million exceeded NCB Capital’s estimates of SAR 632 million, NCB Capital said in a recent report.

 

The earnings beat was attributed to higher-than-expected asset yields, which ranked among the highest yields in the Saudi banking sector.

 

The investment bank recommended a “neutral” rating on the stock with a target price of SAR 28.80. 

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