Alinma Bank’s Q2 results exceed expectations: Aljazira Capital

Alinma Bank’s Q2 net profit (SAR 365 million) beat Aljazira Capital’s forecast by 4.5 percent, the brokerage firm said in a report.

The bank’s earnings were boosted by a 38 percent year-on-year (y-o-y) rise in operating income during the quarter, which was higher than the 18.7 percent jump expected.

The investment arm of Bank AlJazira maintained a “neutral” recommendation on the stock and set its target price at SAR 21.16.

Last week, Alimna reported an 18 percent (y-o-y) increase in net profit for both Q2-2015 and H1-2015.