Earnings Report /
Egypt

ATLC: Bottom line declines due to base effect; downgrade to Equalweight

  • 2Q21 bottom-line supported by provisions reversals and controlled opex; Margins remain stable

  • First half of 2021 is exceptional on the back of securitisation gains and provisions reversals

  • Downgrade to Equalweight on recent share price rally

Bassma Bakry
Al Ahly Pharos Securities Brokerage
11 August 2021