Tough year but better long term perspectives (Jordan Ahli Bank)
Tough year but better long term perspectivesEPS CHANGE
CHANGE IN EPS2020 : JOD 0.06 vs 0.05 +19.7%
2021 : JOD 0.09 vs 0.11 -15.6%
We have revised upward our 2020 EPS (JOD0.06 vs. JOD0.05 previously forecasted) as we expect JAB to generate significant revenues, offsetting thus, the cost of risk’s rise (revenues would reach JOD108m vs. JOD97.2m previously expected).
CHANGE IN NAVJOD 0.87 vs 0.97 -10.0%
We have revised upward our NAV (JOD0.87 vs. JOD0.97 previously expected) due to JAB’s minor issues to enhance its capital generation capacity.
CHANGE IN INTRINSIC VALUE JOD 0.86 vs 1.03 -16.6%
We revised downward our intrinsic value (JOD0.85 vs. JOD1.02 previously forecasted) as we expect a slight deterioration in JAB’s ROE due to the impairment charges’ hike.
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