Alrajhi Bank’s Q2 profit beats estimates: Albilad Capital

12/07/2015 Argaam

Alrajhi Bank’s Q2 profit exceeded estimates, the brokerage firm said in a report.

 

Albilad affirmed the bank’s rating at “neutral” and maintained the stock’s target price at SAR 63.

 

The bank is highly affected by retail banking variables; particularly, consumer loan regulations that put pressure on its income, Albilad Capital added.

 

Alrajhi, Saudi Arabia’s second largest bank by assets, reported SAR 1.94 billion earnings in Q2-2015.

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