ANB’s Q2 net profit misses forecast, says Alistithmar Capital

22/07/2015 Argaam

Arab National Bank’s (ANB) second-quarter net profit (SAR 835.3 million) fell below Alistithmar Capital’s estimate (SAR 900 million), the brokerage firm said in a report.

 

The investment arm of Saudi Investment Bank kept an “accumulate” rating on the stock and reduced its target price to SAR 39 from SAR 41.

 

ANB is also expected to enhance its credit portfolio in the future due to its strong corporate lending business. The bank currently has a loan-to-deposit ratio of 83 percent, Alistithmar Capital added.

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