A recent research report by Rabee Securities (RS) showed that Al-Mansour Bank's (ISX Code: BMNS) net profit after tax decreased 8% quarter-on-quarter, during the 2nd quarter of 2022, to $1.7 million. The bank increased total revenues by 4% in the 2nd quarter compared to the previous quarter, reaching $4.0 million.
Al-Mansour Bank’s share price went up 14% in the last one month (as end of September 28th) and over-performed the RSISX index by 7%. The bank still has 212% upside potential compared to its peak level on February 13th, 2014, based on adjusted closing prices calculated by RS.
Al-Mansour Bank was established as a private joint stock company in 2005 and is headquartered in Baghdad, Iraq. The bank is working to strengthen and expand banking relations through its correspondents directly and through Qatar National Bank, parent company that owns 54.2% share at Al-Mansour Bank.
Al-Mansour Bank increased annualized Return on Average Equity (ROAE) from 1.7% in 6M21 to 3.4% in 6M22; average annualized ROAE of ISX-listed banks that recorded profit in 6M22 was 3.3%. The bank increased annualized Return on Average Assets (ROAA) from 0.5% in 6M21 to 1.4% in 6M22; average annualized ROAA of ISX-listed banks in 6M22: 1.2%.
-Ends-
