Qatari Lender Closes Gap on Abu Dhabi Rival in Mideast Shuffle - Bloomberg:
"Qatar National Bank QPSC is no longer being punished for a boycott imposed on the country by some of its neighbors as this month’s MSCI Inc. weighting change draws passive inflows to the stock. A 36 percent rally spurred by the decision to raise the foreign ownership limit in March means QNB now trades at a similar valuation to First Abu Dhabi Bank PJSC for the first time in more than a year. FAB had become one of the shares of choice in the United Arab Emirates after a deal that created the country’s biggest lender last year. The estimated price-to-earnings ratio for the Emirati bank has slipped to 10.3, matching the level for QNB, the dominant stock in Qatar’s benchmark index."
'via Blog this'
No comments:
Post a Comment