Positive 9M, but cautiousness is needed
QNB released its 9M 2017 figures, highlighting a 5.8% increase in its net result despite a declining interest margin. This is due to the under-performance of the international operations, especially Egypt. In fact, the Egyptian business was negatively impacted by the huge depreciation of EGP, taking into account the acquisition. The group continues to manage a good loan book (with 1.8% as an NPLs ratio), adopting a conservative policy in terms of provisioning (coverage ratio at 111%).
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.