Alistithmar Capital upgrades Samba to ‘accumulate’

15/04/2015 Argaam
Alistithmar Capital upgraded Samba Financial Group from neutral to accumulate, and set the stock’s fair value at SAR 32.
 
Samba reported SAR 1.28 billion earnings in the first quarter, which came in line with forecasts.
 
This profit increase was fueled by 9.5 percent growth in lending portfolio, a 5.6 percent rise in deposits, and a 6.6 percent jump in assets. 
 
Accordingly, Samba’s loan-to-deposit ratio (LTD) hiked from 72.8 percent to 75.5 percent.

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