Higher capital adequacy requirements weigh on Omani banks' profitability | ZAWYA MENA Edition:
Omani banks reported uninspiring first quarter (Q1) earnings for the current year, with profitability eroded by higher capital adequacy requirements, an analyst told Zawya.
“Earnings have been somewhat lacklustre,” Ayisha Zia Hassan Naseer, research analyst at Ubhar Capital, told Zawya by email on Thursday.
“Bank Muscat, NBO (National Bank of Oman), HSBC, and Ahli Bank met our Q1’19 forecasts for net profit. BKDB (Bank Dhofar) missed our estimate by about 7 percent. Sohar International beat our estimate by a whopping 24 percent on lower provisions,” she added.
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