Saudi Hollandi’s Q2 net profit in line with estimate: Alistithmar Capital

26/07/2015 Argaam

Saudi Hollandi Bank’s (SHB) second-quarter net profit (SAR 539.2 million) was in line with Alistithmar Capital’s forecast, the brokerage firm said in a report.

 

The bank’s loan portfolio and deposits grew 17 percent year-on-year during the period as expected, while it maintained a loan-to-deposit ratio of 85 percent.

 

The investment arm of Saudi Investment Bank kept a “neutral” rating on the stock and reduced its target price to SAR 45 from SAR 48.20. 

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