Samba’s Q2 profit below estimates: Alistithmar Capital

Samba Financial Group’s second quarter net profit was lower than estimated by Alistithmar Capital, the brokerage firm said in a report.

Samba, the kingdom's third largest bank by assets, reported a net profit of SAR 1.33 billion in Q2-2015, rising six percent on year.

Alistithmar Capital maintained its “buy” recommendation on the bank’s stock with a target price of SAR 32 per share.

It said the bank’s loans grew from 74 percent to 76 percent, which is a positive indicator.