- Burgan Bank‘s net income for the second quarter is 10.1 million dinars, which is 8.7% lower than the previous year and falls short of the estimated 12 million dinars.
- Operating revenue stands at 67.9 million dinars, marking an increase of 19% year-over-year, and exceeding the estimate of 62.3 million dinars.
- The operating profit is 24.6 million dinars, reflecting a modest 1.9% growth compared to the previous year.
- Earnings per share (EPS) remain unchanged at 0.0020 dinars compared to the same quarter last year.
- Net interest income amounts to 38.4 million dinars, showing a 3.5% increase from the previous year.
- Net fee and commission income is 13.3 million dinars, which is a substantial 40% rise on a year-over-year basis.
- The bank attributes the decrease in profit for the first half of the year mainly to increased operating expenses and provisions for credit losses.
- Analyst recommendations for the bank include 0 buys, 4 holds, and 0 sells.
A look at Burgan Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
According to the Smartkarma Smart Scores, Burgan Bank is positioned well for long-term success. With a high score in value and momentum, the company demonstrates strong fundamentals and positive market sentiment. The value score indicates that Burgan Bank is considered undervalued relative to its intrinsic worth, which could offer potential for long-term growth. Additionally, the momentum score suggests that the stock has been performing well relative to its peers, indicating positive investor interest in the company.
Despite lower scores in dividend and resilience, Burgan Bank shows potential for growth in the future. The growth score highlights the company’s potential for expansion and development, indicating opportunities for increased revenue and market share. While the resilience score may be lower, the overall outlook for Burgan Bank appears positive, especially with its diversified operations across various regions and banking sectors.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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