NCB’s Q2 profit misses forecasts: Alistithmar Capital

15/07/2015 Argaam

Alistithmar Capital said National Commercial Bank’s (NCB) second quarter net profit, which fell 2.6 percent year-on-year to SAR 2.36 billion, missed forecasts.

  

The brokerage firm said the drop in net profit was due to higher costs and high loan-to-deposit ratio. 

 

It has recommended a “neutral” rating on the stock, with a fair value SAR 68.40 per share.

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