Doha – Mubasher: NBK Capital, the investment arm of National Bank of Kuwait, issued a “Buy” recommendation on Qatar National Bank (QNB) on Thursday, after releasing its financial results for 2015 yesterday. NBK Capital also set the stock’s fair value at QAR 222.80.
The bank reported on Wednesday a net profit of QAR 11.3 billion, with a rise of about 8% year-on-year compared to QAR 10.5 billion in 2014.
The financial services firm said that the bank’s operating income declined by 1% to QAR 15.9 billion in the fourth quarter of fiscal year 2014/15, 2.9% less than expectations.
