Arab Today, arab today saudi banking stocks offer hope
Last Updated : GMT 19:02:10
Arab Today, arab today
Arab Today, arab today

Saudi banking stocks offer hope

Arab Today, arab today

Arab Today, arab today Saudi banking stocks offer hope

Jeddah - Arabstoday

The Kingdom’s banks have posted robust second-quarter earnings and analysts see upside for their stocks given attractive valuations, whereas petrochemical stocks will be vulnerable following a sharp drop in oil prices. Saudi banks are benefiting from the government\'s expansionary fiscal policy, ample liquidity and improving corporate loan demand. \"Even though most banks reported expected results, it’s quite positive,\" Mahmoud Akbar, analyst at Riyadh-based NCB Capital, told Reuters. \"The numbers didn\'t come at the cost of provisioning. Net income is high because of economic activity happening in the Kingdom and the liquidity is good.\" The Saudi banking stocks index has declined for six straight sessions, having recording a 15.2 percent loss for the second quarter, while the Kingdom\'s bourse was down 14.3 percent in the quarter, and some analysts see that as an opportunity to buy. \"Valuations look very attractive, particularly for the bigger banks. Generally, we see an upside potential of 17 to 20 percent at least, on current valuations. They have underperformed and unjustifiably so,\" Akbar added. Meanwhile, petrochemical stocks have steadily declined from a 43-month peak reached in early April, tracking losses in oil prices. Earnings for companies in the sector are due in the coming week. The banks and financial services index ended 0.4 percent lower yesterday. The petrochemical industries index was down 0.75pc. The Tadawul All Share Index (TASi) closed 0.8pc yesterday. From arabnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi banking stocks offer hope Arab Today, arab today saudi banking stocks offer hope

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi banking stocks offer hope Arab Today, arab today saudi banking stocks offer hope

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday