FFA Private Bank released the “Lebanese Banks Q2/2013 Preview” FFA Private Bank released the Lebanese Banks Q2/2013 Preview providing insightful expectations into the quarterly revenue and earnings performances of Bank Audi, Blom Bank and Byblos Bank. The report pinpoints that Blom Bank and Byblos Bank are expected to sustain a moderate balance sheet growth in Q2/2013e, while Bank Audi should outperform peers driven by its expansion in Turkey. At the profitability level, the report highlights that no major surprises are expected as Lebanese banks continue to weather a challenging operating environment materializing into pressures on earnings while provisioning levels should remain elevated yet likely contained on downsized Syrian operations. More generally, FFA Private Bank currently sees no catalyst that can trigger the appetite of investors and drive shares higher and maintains its target prices and recommendations unchanged on the three banks. On a positive note the report recognizes the banks’ ability in limiting the adverse effects of less favorable macro dynamics and in coping with the pressures on earnings generation while adopting prudent provisioning measures. The complete report is available on our website under the following link: ffaprivatebank/library/files/pdf/FFA%20Private%20Bank%20-%20Equity%20Research%20-%20Lebanese%20banks%20-%20%20Q2%202013%20Preview.pdf
Posted on: Thu, 11 Jul 2013 08:10:56 +0000
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