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SICO expects Bahraini firm to solely post lower Q3 profits

SICO expects Bahraini firm to solely post lower Q3 profits
NBB is forecast to widen its profits by 14% on an annual basis
AUB Bahrain
AUB
0.21% 0.97 0.00
Seef
SEEF
-3.33% 0.14 -0.01
BEYON
BEYON
0.00% 0.54 0.00

NBB
NBB
0.00% 0.57 0.00
NASS
NASS
-1.96% 0.10 -0.00

Mubasher: Securities & Investment Company (SICO) has forecast that Nass Corporation will be the only Bahraini company to register profits lower by 6% on an annual basis to BHD 800,000 during the third quarter of 2017.

SICO expected the profits of Ahli United Bank (AUB) to increase by 7% year-on-year to BHD 56.6 million by the end of Q3-17 due to higher net income.

Meanwhile, AUB is projected to post 1% lower profits in Q3 than in Q2 when it registered BHD 57 million.

The National Bank of Bahrain (NBB) is forecast to widen its profits by 14% on an annual basis to BHD 16.5 million.

SICO expected in its report that Batelco’s profits will grow 8% to BHD 10.6 million.

Seef Properties is likely to record a year-on-year rise of 2% in profits to BHD 2.7 million.

SICO Investment Bank is considered one of the premier investment banks in the GCC region.