Dalia Bonna

Dalia joined Pharos Holding for Financial Investments as an Equity Analyst in September 2016. She graduated from the American University in Cairo with a Bachelor of Business Administration degree with a concentration in Finance and double minor in Economics and Mathematics. 

Dalia Bonna
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Flash Report / Egypt

ADIB: Management Meeting Key Takeaways

We Upgrade our FV to EGP 28.50/share as stock takes-off post conclusion of capital increase. FV is based on 500 million shares, post the conclusion of capital increase, implying a P/B23 of 1.2x and P/E23 of 6.4x. The bank is currently trading at 0.9x...
Al Ahly Pharos Securities Brokerage Dalia
Dalia Bonna @ Al Ahly Pharos Securities Brokerage 31 January 2023

Egypt Banking Sector 2023: Attempting to counterbalance macro factors

Sector Outlook, Hopes, Fears, and Picks. Interbank Comparison. Individual Banks Fundamental Review.
Al Ahly Pharos Securities Brokerage Dalia
Dalia Bonna @ Al Ahly Pharos Securities Brokerage 28 December 2022

CIB: 3Q22 – Outstanding quarter

Strong NIM and non-interest income were the main driver for the robust annual and sequential performance. 9M22 still came in higher y/y boosted by a robust topline coupled with a drop in provisions, despite a surge in OPEX. Lending activity expanded....
Al Ahly Pharos Securities Brokerage Dalia
Dalia Bonna @ Al Ahly Pharos Securities Brokerage 7 November 2022

QNB Alahli: 3Q22 – Strong annual growth; sequentially stable due to provisioning spike

Annual growth was supported by robust margins that trickled down to the bottom line. Sequential limited growth was caused by: lower investment income, higher OPEX, provisions and effective tax rate. Gross loans expanded by 4% q/q, bringing YTD growth...
Al Ahly Pharos Securities Brokerage Dalia
Dalia Bonna @ Al Ahly Pharos Securities Brokerage 11 October 2022

HRHO: 2Q22 – Weaker than expected quarterly profits on high opex and lower NBFI growth

Sequential growth of revenues from aibank and IB platform was wiped out by a decline in NBFIs revenues and high OPEX. Annual decline in profits was caused by a decline in IB revenues, weaker growth of NBFIs and a surge in OPEX. The company is current...
Al Ahly Pharos Securities Brokerage Dalia
Dalia Bonna @ Al Ahly Pharos Securities Brokerage 21 August 2022

Export Development Bank Of Egypt: 2Q22 – Satisfactory sequential growth but impressive annually

Earnings were sequentially supported by 1) robust NIM, 2) lower OPEX, and 3) lower effective tax rate. Loans expanded by +2% q/q and +15% YTD and deposits expanding by 5% q/q to bring YTD growth to 9%. EXPA is trading at P/E22 of 4.3x, and P/B22 of 0...
Al Ahly Pharos Securities Brokerage Dalia
Dalia Bonna @ Al Ahly Pharos Securities Brokerage 21 August 2022

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