Alrajhi Bank’s Q2 profit beats forecasts: Aljazira Capital

12/07/2015 Argaam

Alrajhi Bank’s Q2 profit beat estimates set by Aljazira Capital, the brokerage firm said in a report.

 

The investment firm affirmed the bank’s rating at “neutral” and maintained the stock’s target price at SAR 61.50.

 

The bank’s lower loan-to-deposit ratio (LTD) weighs on its potential, while its inability to secure new loans can be attributed to lack of competiveness, Aljazira added.

 

Alrajhi, Saudi Arabia’s second largest bank by assets, reported SAR 1.94 billion earnings in Q2-2015.

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