Mubasher TV
Contact Us Advertising   العربية

NBK Capital raises QNB fair value, rates Buy

NBK Capital raises QNB fair value, rates Buy
Photo Credit: Arabianeye - Reuters
QNB
QNBK
-0.07% 14.20 -0.01

NBK Capital said it raised the fair value estimate for Qatar National Bank (QNB) to QAR 254.70, with 37% upside potential, placing a Buy recommendation.

QNB recorded a net profit of QAR 2.91 billion in the second quarter of 2015, up 10% year-on-year on higher operating income, and up 9% QoQ.

The bank’s operating income was up 5% YoY, 2.7% below forecast on lower-than-expected investment income, while other higher-quality earnings (net interest income and fee income) came in line with forecast, according to NBK Capital.