National Bank of Kuwait

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16 articles for National Bank of Kuwait

National Bank of Kuwait: Q3 20 results — Downgrade to Sell on challenging outlook, premium valuation

We price the shares off a mid-cycle ROTE of 13.5%, a cost of equity of 11.0% and terminal growth rate of 5.0%. At our target price of KWD0.75, the shares are trading at 16.2x 2021 PE, 1.5x tangible PB and offer 3.5% dividend yield. NBK reported Q3 20...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 30 October 2020

EM Banks: Funding fresh credit looks most challenging in these markets

Across the world, banks are being asked to take on much of the burden of easing the pain of Covid-19 lockdowns, by offering loan maturity extensions, interest holidays and cheaper credit. For our coverage universe, the average level is 74%. Other thi...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 22 June 2020
EM Banks: Funding fresh credit looks most challenging in these markets
EM Banks: Funding fresh credit looks most challenging in these markets
Flash Report / Kuwait

Kuwait: Bank dividends – still everything to play for

NBK and a host of other Kuwaiti banks have today published clarifying statements on the Boursa Kuwait website following news reports yesterday that implied that the Kuwaiti Banking Association had asked their members not to pay cash dividends for FY2...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 11 June 2020
Kuwait: Bank dividends – still everything to play for
Kuwait: Bank dividends – still everything to play for

Kuwait: MSCI EM delayed to Nov 2020 (from May), no change to fundamentals

The MSCI announcement on 8 April is a surprise and important, in the short-term, but in no way changes the long-term picture. ( 2) Countries whose weights in the FM (Vietnam, and potentially Iceland) and FEM (Philippines, Peru, Vietnam, Colombia) ind...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 9 April 2020
Kuwait: MSCI EM delayed to Nov 2020 (from May), no change to fundamentals
Kuwait: MSCI EM delayed to Nov 2020 (from May), no change to fundamentals

National Bank of Kuwait: FY19 results: margins see a further squeeze

Volume drivers were Islamic Banking in Kuwait (17% of group revenues) and International Banking (25%). By sector, the key drivers were financial institutions, manufacturing and retail. We think the stock is fully valued and see limited reason for a r...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 21 January 2020

National Bank of Kuwait: Q3 19 net profit below expectations

National Bank of Kuwait (NBK) reported Q3 19 net profit of 93.1mn (+8% yoy), which was below Bloomberg consensus KWD99.3mn and our expectation of KWD100.4. The stock trades at 13.2x 2020f PE, 2.1x tangible 2019f PB and 2019f 4.3% DY. Our mid-cycle RO...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 10 October 2019

Details

Kuwait
MENA
Banks
About
National Bank of Kuwait S.A.K. is a commercial bank providing services through local branches, overseas branches and subsidiaries.

Associated topics

Financials Banks Rahul Shah MENA Kuwait National Bank of Kuwait NBK Equity 2019 Bloomberg Rohit Kumar KWD 2018 Kuwaiti