EPS and PO up after 2Q results; NIM – the main positive

研报英文原文证据摘录

EPS and PO up after 2Q results; NIM – the main positive

EEMEA - Financials Coverage Cluster

Investment rating Company BofA Ticker Bloomberg symbol Analyst

Banque Saudi Fransi XRDCF BSF AB Olga Veselova

Dubai Islamic Bank XUIBF DIB UH Olga Veselova

First Abu Dhabi Bank XNBUF FAB UH Olga Veselova

Garanti Bank TKGBF GARAN TI David Taranto

Isbank TYIBF ISCTR TI David Taranto

Nedbank Group Ltd NDBKF NED SJ Harry Botha

OTP Bank OTPBF OTP HB David Taranto

Qatar Islamic Bank XQATF QIBK QD Rahul Rajan, CFA

Riyad Bank XRYDF RIBL AB Olga Veselova

Saudi Awwal Bank XBUAF SABB AB Olga Veselova

Saudi Tadawul Group XTAWF TADAWULG AB Rahul Rajan, CFA

Standard Bank SBGOF SBK SJ Harry Botha

Yapi Kredi Bank YVKBF YKBNK TI David Taranto

UNDERPERFORM

Discovery DCYHF DSY SJ Harry Botha

Halkbank THBIF HALKB TI David Taranto

Komercni Banka KMERF KOMB CP David Taranto

Kuwait Finance House XKFHF KFH KK Rahul Rajan, CFA

National Bank of Kuwait XPOBF NBK KK Rahul Rajan, CFA

Old Mutual Limited ODMUF OMU SJ Harry Botha

Old Mutual Limited XOMLF OMU LN Harry Botha

Santam XSLNF SNT SJ Harry Botha

Vakif Bank TKYVF VAKBN TI David Taranto

iQmethod SM Measures Definitions

Business Performance Numerator Denominator

Return On Capital Employed NOPAT = (EBIT + Interest Income) × (1 − Tax Rate) + Goodwill Amortization Total Assets − Current Liabilities + ST Debt + Accumulated Goodwill

Amortization

Return On Equity Net Income Shareholders’ Equity

Operating Margin Operating Profit Sales

Earnings Growth Expected 5 Year CAGR From Latest Actual N/A

Free Cash Flow Cash Flow From Operations − Total Capex N/A

Quality of Earnings Numerator Denominator

Cash Realization Ratio Cash Flow From Operations Net Income

Asset Replacement Ratio Capex Depreciation

Tax Rate Tax Charge Pre-Tax Income