Cairo - Mubasher: NBK Capital MENA Research said it adjusted its fair value (FV) for Credit Agricole - Egypt to become EGP 30.4/shr instead of EGP 28.1/shr, to incorporate the 8.3% bonus shares (Ex. dividend date of 9 December).
The lender's number of shares increased from 287 million to 311 million following the capital hike.
Meanwhile, NBK Capital maintained its Buy recommendation on the bank's stock with 42% upside potential compared with the last closing price.
On other hand, NBK Capital adjusted its fair value for Commercial International Bank (CIB) to become EGP 64.40 per share instead of EGP 51.3 per share to incorporate the 25% bonus shares (Ex. dividend date of 9 December).
CIB's number of shares increased from 917 million to 1.1 billion, after capital increase.
NBK Capital also, kept its Buy recommendation on CIB's stock.
