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EGX 30 14,043.42 -0.63%



Pharos Research sets Suez Canal Bank's fair value at EGP 7/share

Pharos Research sets Suez Canal Bank's fair value at EGP 7/share

ArabFinance: Pharos Holding's research unit set the fair value of Suez Canal Bank (CANA) share at EGP 7.00 with an underweight recommendation. The stock is trading at P/E19 of 3.8x, and P/B19 of 0.6x, on ROAE of 18%. Egypt’s sector average of P/E19 and P/B19 are 4.8xand 0/9x, respectively.

It is worth mentioning that the company posted net profits of EGP 128.565 million in 1Q2019, versus net profits of EGP 115.267 million in the same period a year ago.

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