Banking Sector

Doha Bank (DHBK)

DHBK - De-Risking Continues; EPS Growth via Investment Income Not Sustainable-28-10-2019
DHBK - CoR to Remain Elevated 2019 & 2020; RoE to Pick up Post 2020-05-08-2019
DHBK Alert - 2Q2019 YoY Driven by Drop in Provisions & Impairments; Revenue Remains Soft on NIM Compression-25-07-2019
DHBK Alert - Adjusting Price Target to Reflect 10-for-1 Stock Split; No Impact on Balance Sheet-16-06-2019
DHBK-1Q2019 Results Weaker Than Expected; CoR Remains Elevated-02-05-2019
DHBK-2019 CoR & Bottom-line Expected to be In-Line with 2018-06-02-2019
DHBK Alert - Operating Results In-Line Despite EPS Miss on Provisions; DPS Cut Shores Up CET1 Ratio-28-01-2019
DHBK - Weak 3Q2018 as Expected; Operating Income In-Line-18-10-2018
DHBK - Factoring in 2Q2018, Lowering Estimates & PT to QR28-04-09-2018
DHBK - 1Q2018 Bottom Line Growth Driven by Lower Provisions Impairments-23-04-2018
DHBK - Maintain Market Perform and PT QR31.00-29-01-2018
DHBK Alert - 4Q2017 InLine With Historical Trends DPS Uped to QR3.00-24-01-2018
DHBK Alert - 3Q2017 Operating Income InLine Bottom Line Beats on Lower Provisions Impairments-24-10-2017
DHBK - Slight Adjustments in Estimates Post 2Q2017 Results; Stock Trading at Fair Value 24 07 2017
QNBFS Alert - DHBK 2Q2017 Earnings In-Line; Profitability Drops on Higher Provisions & Impairments -20-07-2017
QNBFS Alert - DHBK 1Q2017 Profitability Beats Estimates Due to a Significant Drop in Prov. 20 04 2017
DHBK - Revising Price Target Due to Capital Increase 16 03 2017
DHBK - FY2016 Earnings Drop on Higher Than Expected Provisions; Lowering TP 24 01 2017
QNBFS Alert - DHBK 4Q2016 Falls short of Estimates On the Back of Excess Provisions 23 01 2017
DHBK - Revising Estimates to Account for Higher Provisions 23 10 2016
QNBFS Alert - DHBK 3Q2016 Profitability Drops Due to a Spike in Provisions & Weak Net Interest Income 20 10 2016
DHBK - Revising Estimates to Account for Higher Provisions; Lowering PT - 27-07-2016
DHBK - Earnings Misses Estimates on Higher Provisions & Impairments 19 04 2016
DHBK – Earnings Fall Short Due to Higher Provisions & Impairments - 19-04-2016
DHBK – Revising Estimates and Price Target On challenging Outlook - 09-03-2016
DHBK – Revising EDHBK – 4Q2015 Earnings Drop QoQ Due to Impairments and OPEX - 26-01-2016stimates and Price Target On Tepid Outlook - 15-11-2015
DHBK – Revising Estimates and Price Target On Tepid Outlook - 15-11-2015
QNBFS Alert – DHBK Reports a Weak Set of Results in 2Q2015 - 15-07-2015
QNBFS Alert – DHBK 1Q2015 Net Profit Surges QoQ - 21-04-2015
DHBK - Changing Estimates; Revising Price Target - 06-04-2015
DHBK - Changing Estimates; Reducing Target Price 10 12 2014
QNBFS Alert – DHBK 3Q2014 Net Income Falls Short of Expectations - 21-10-2014
QNBFS Alert – DHBK Displays Solid YoY Growth in 2Q2014 - 17-07-2014
QNBFS Alert - DHBK 1Q2014 Net Income up by 1.0% YoY 21 04 2014
DHBK - Maintain Market Perform 23 01 2014
QNBFS Alert - DHBK 3Q2013 Net Income down 6 9% QoQ 21 10 2013
QNBFS Alert - DHBK 2Q2013 Net Income Up 0.9% YoY 22 07 2013
DHBK - 2012 Net Income Misses Estimates on Higher Provisions 21 01 2013
DHBK - 3Q2012 Net Income Dips 8 4% QoQ Revising Estimates Target Price Slightly 21 10 2012
DHBK - 2Q2012 Net Income Misses Estimates; Downgrading to Market Perform 19 07 2012
DHBK - 1Q2012 Net Income Beats on Lower Provisions Upgrading to Outperform 19 04 2012

Al Khalij Commercial Bank (KCBK)

KCBK - 3Q2019 Earnings Misses Estimates; YoY Earnings Driven by Strong Margins-20-10-2019
KCBK - In-Line 2Q2019 With YoY Earnings Driven by Lower Provisions-24-07-2019
KCBK Alert - Adjusting Price Target to Reflect 10-for-1 Stock Split; No Impact on Capital or Market Cap-11-06-2019
KCBK-In-Line 1Q2019 With YoY Earnings Driven by Lower Provisions; Market Perform-01-05-2019
KCBK - 2018 Driven by Lower CoR; Tweaking Estimates-24-01-2019
KCBK Alert - In-Line 4Q2018 Estimates; DPS Remains Unchanged at 0.75-21-01-2019
KCBK-3Q2018 Falls Short of Estimates Driven by Weaker Than Expected Revenue-25-10-2018
KCBK-In-Line 1Q2018 Margins Expand-22-04-2018
QNBFS Alert – KCBK 4Q2017 Earnings Beat Estimates Maintains DPS at 0.75-25-01-2018
KCBK - Decent 3Q2017 Modifying Estimates-29-10-2017
KCBK - Changing Estimates (2018 & 2019); Maintain PT QR15sh - 25-07-2017
QNBFS Alert – KCBK Reports Weak 2Q2017, Eatimates In-Line; Margin Expansion Positive - 18-07-2017
KCBK - 3Q2016 Disappoints; Lowering Estimates - 23-10-2016
KCBK – Net Profit Down QoQ on Margin Compression & Higher Opex - 20-04-2016
KCBK – Earnings Dip QoQ, Flat YoY; In-Line With Estimates - 21-01-2016
QNBFS Alert – KCBK 2Q2015 Bottom-Line Driven by Net Interest Income & Fees - 16-07-2015
KCBK - Changing Estimates; Maintaining Target Price - 07-04-2015
QNBFS Alert - KCBK 3Q2014 Beats Estimates - 21-10-2014
KCBK - Core Income Boosts Sequential Gains in 2Q2014 Earnings - 21-07-2014
QNBFS Alert – KCBK 3Q2013 Net Income Down 32.3% QoQ - 30-10-2013
KCBK - Solid 2013 Results; Changing rating to Accumulate - 23-10-2013
QNBFS Alert – KCBK 2Q2013 Net Income Up 21.0% QoQ - 31-07-2013
Al Khaliji (KCBK)- Initiating Coverage with an Accumulate - 14-05-2013

Masraf Al-Rayan (MARK)

MARK - Conservative Strategy to Drive Mid-Single Digit Growth Next 5-Years-30-10-2019
MARK - In-Line 2Q2019; Key Take-Away Modest Margin Pressure & Soft Revenue-17-07-2019
MARK Alert – In-Line 2Q2019 Revenue Earnings but Moderate Margin Pressure; Market Perform-16-07-2019
MARK Alert - Adjusting Price Target to Reflect 10-for-1 Stock Split; No Impact on Balance Sheet-17-06-2019
MARK-Lower Provisions Drive In-Line 1Q2019; Market Perform-18-04-2019
MARK - Net Reversals Drive 2018 Bottom-Line; Lowering Estimates-27-01-2019
MARK Alert – In-Line 4Q2018 Net Profit & DPS; Maintain Market Perform-22-01-2019
MARK - Net Reversals Drive 3Q2018 Bottom-Line Lowering Estimates for 2019 and 2020 On Account of Margin Pressure-16-10-2018
MARK - In-Line 2Q2018 Spreads; Continued to Contract-18-07-2018
MARK - In-Line 1Q2018 Spreads Continued to Contract-17-04-2018
MARK - Updating Model for 2017 Retaining Market Perform-22-01-2018
QNBFS Alert – MARK 4Q2017 Net Operating Profit InLine With Estimates-17-01-2018
MARK - Increasing Estimates & Upgrading to Market Perform-18-10-2017
QNBFS Alert – MARK Delivers Strong 3Q2017 Exceeding Estimates -17-10-2017
MARK - Maintain Estimates & TP QR34 Post 2Q2017-19-07-2017
QNBFS Alert – MARK Reports Flat 2Q2017, Mixed Set of Results; Estimates In-Line-17 07 2017
MARK – FY2016 Net Profit In-Line; Dividends Surprise - 17 01 2017
QNBFS Alert – MARK Posts Weak 4Q2016 Net Profit; DPS Surprises - 17 01 2017
MARK - 3Q2016 Net Profit Ahead of Estimates; Minor Tweaks - 18 10 2016
MARK - 2Q2016 Net Profit In-Line; Tweaking Estimates - 25 07 2016
MARK – Non-Recurring Loss & Margin Pressure Dents QoQ Growth - 20 04 2016
MARK – Tweaking Estimates and Lowering Price Target - 07 03 2016
MARK – MARK Reports In-Line 4Q2015 Net Profit - 19 01 2016
QNBFS Alert – MARK Posts Weak 2Q2015 Bottom-Line - 14 07 2015
MARK - Transferring Coverage & Revising Estimates - 24 02 2015
MARK - 4Q2014 Estimates & Outlook for 2015-16; Market Perform - 05 01 2015
QNBFS Alert – MARK 3Q2014 Net Income In-Line on a Recurring Basis - 21 10 2014
QNBFS Alert – MARK 2Q2014 Net Income Beats Estimates - 22 07 2014
QNBFS Alert – MARK 4Q2013 Net Income In Line with Estimates - 28 01 2014
QNBFS Alert – MARK 3Q2013 Net Income Inline with Estimates - 29 10 2013
QNBFS Alert MARK 2Q2013 Net Income Up 5.1% QoQ - 23 07 2013
QNBFS Alert MARK 1Q2013 Net Income Up 13.2% YoY - 23 04 2013
MARK - 3Q2012 Net Income Dips 3.6% QoQ; Lowering Estimates & Target Price - 18 10 2012
MARK - 2Q2012 Net Income up 5.1% - 24 07 2012
MARK - 1Q2012 Net Income grows by 7 8% Market Perform - 25 04 2012
MARK - FY2011 Earnings Review - 30 01 2012

Qatar Islamic Bank (QIBK)

QIBK - Strong 3Q2019; Reduce on Stretched Valuations-21-10-2019
QIBK Alert - In-Line 2Q2019; Changing Rating to Reduce from MP Based on Valuation-18-07-2019
QIBK Alert - Adjusting Price Target to Reflect 10-for-1 Stock Split; No Impact on Balance Sheet-16-06-2019
QIBK - In-Line 2018 Results; Tweaking Estimates & Upping PT-29-01-2019
QIBK Alert–QIBK Beats 4Q2018 Estimates, DPS Remains Unchanged at 5.00 vs. 2017-17-01-2019
QIBK - Decent 3Q2018; In-Line With Estimates-18-10-2018
QIBK-2Q2018 Results Beats Estimates On Lower Provisions-17-07-2018
QIBK-Healthy 1Q2018 Results on an Operating Level Maintain PT104-16 04 2018
QNBFS Alert–QIBK Reports InLine 4Q2017 Net Income-Ups Market Perform-18-01-2018
QNBFS Alert - QIBK Reports In-Line 3Q2017 Maintain Market Perform with QR104 PT-19-10-2017
QIBK - Strong 2Q; Revising Estimates, Maintain PT QR104.00sh-24-07-2017
QNBFS Alert – QIBK Deliver Strong Set of Results; Trumps Estimates-19-07-2017
QNBFS Alert - QIBK Reports Broadly In-Line 1Q2017 Earnings, Elevated Provisioning Prevented Strong Growth QoQ- 17 04 2017
QNBFS Alert - QIBK Reports In-Line 4Q2016 Earnings of QR555mn; Raises Divs. To QR4.75 - 19 01 2017
QIBK - Provisions & Weak Non-Interest Income Impacts 3Q2016 - 20-10-2016
QNBFS Alert – QIBK's 3Q2015 Earnings Driven by Fees, Cost Control & Lower - 14-10-2015
QIBK Reports Strong 2Q2015 Results, Albeit a Rise in Impairments - 14-07-2015
QIBK - Transferring Coverage & Revising Estimates - 10-03-2015
QIBK - Investment Income to Limit Bottom-Line Growth - 25-01-2015
QIBK– 4Q2014 Estimates & Outlook for 2015-16; Market Perform - 07-01-2015
QNBFS Alert – QIBK 2Q2014 Results Beat Estimates - 15-07-2014
QNBFS Alert – QIBK 1Q2014 Results Beat Estimates Slightly - 17-04-2014
QIBK - 4Q2013 Results Inline Maintain Market Perform Rating - 23-01-2014
QNBFS Alert QIBK 3Q2013 Results In Line with Our Estimates - 20-10-2013
QNBFS Alert QIBK 2Q2013 Net Income up 16.4% QoQ - 16-07-2013
QNBFS Alert QIBK 1Q2013 Net Income down 24.9% YoY - 29-04-2013
QIBK - 3Q2012 Results - 24-10-2012
QIBK - 2Q2012 Results Miss Estimates; Maintain Market Perform - 12-07-2012
QIBK - Strong 1Q2012 Results; Upgrading to Outperform - 15-04-2012
Qatar Islamic Bank FY2011 Earnings Review - 22-01-2012

Qatar International Islamic Bank (QIIK)

Commercial Bank of Qatar (CBQK)

CBQK - Banking on a Turnaround; Raising PT to QR4.95-03-11-2019
CBQK - Delivers a Decent 2Q2019; Maintain Market Perform-23-07-2019
CBQK Alert - Adjusting Price Target to Reflect 10-for-1 Stock Split; No Impact on Capital or Market Cap-11-06-2019
CBQK-Decline in Opex & Provisions Drives an In-Line 1Q2019-21-04-2019
CBQK-Encouraging 2018; Upping PT to QR43.00-10-02-2019
CBQK-2018 Analysts Day; 5-Year Turnaround on the Right Path-15-11-2018
CBQK-Efficiency and CoR on the Right Track; RoE Remains Key-04-11-2018
CBQK-1Q2018 Trumps Estimates Credit Costs Normalize 19-04-2018
CBQK - Encouraging 2017 Maintain PT QR29-01-02-2018
QNBFS Alert - CBQK 4Q2017 Profits Surge on Sharp Drop in Provisions Announces DPS QR1.0-30-01-2018
QNBFS Alert - CBQK 3Q2017 Estimates In-Line on Operating Basis Miss Due to Associates 18-10-2017
QNBFS Alert - CBQK 3Q2017 Negative Read-Through 16-10-2017
QNBFS Alert - CBQK 2Q2017 Disappoints Again 19-07-2017
QNBFS Alert - CBQK 1Q2017 Disappoints; Provisions Higher than Expected 18-04-2017
CBQK - 1Q2017 Disappoints; Provisions Higher than Expected 18-04-2017
QNBFS Alert - CBQK Generates a Profit in 4Q2016 Due to a Drop in Provisions 22-02-2017
QNBFS Alert - CBQK 4Q2016 and Full Year Results to be Negatively Impacted From UAB 15-02-2017
CBQK - Analysts' Day; Key Takeaways 29-11-2016
QNBFS Alert - CBQK 3Q2016 Reports Loss on the Back of Provisions 19-10-2016
CBQK - 2Q2016 Results Disappoint; A bank Deal to Create Further Pressure 20-07-2016
QNBFS Alert - BREXIT-Related Currency Exposures Minimal for Qatari Banks 26-06-2016
QNBFS Alert - CBQK 1Q2016 Results Weaker Than Expected 26-04-2016
QNBFS Alert - CBQK 1Q2016 Results to be Positively Impacted From UAB 21-04-2016
CBQK - Revising Estimates and Price Target on Muted Outlook 17-03-2016
QNBFS Alert - CBQK 4Q2015 Results Negative Across the Board 28-01-2016
QNBFS Alert - CBQK 4Q2015 Results to be Adversely Impacted From UAB 26-01-2016
CBQK - Revising Estimates and Price Target 19-11-2015
QNBFS Alert - CBQK Results Adversely Impacted From UAB 19-10-2015
QNBFS Alert - CBQK Beats Estimates on Strong Non-Interest Income & Gain on Property 15-07-2015
QNBFS Alert CBQK 1Q2015 Disappoints 23-04-2015
CBQK - Compelling Long-Term Value; Upgrade to Outperform 12-04-2015
QNBFS Alert - CBQK FOL Increase in the Works; 2015 Estimates Likely to be Revised Down 04-03-2015
CBQK - Changing Estimates; Reducing Target Price 14-12-2014
QNBFS Alert - CBQK 2Q2014 Earnings Misses on Higher-Than-Expected Provisions 24-07-2014
QNBFS Alert - CBQK 1Q2014 Net Income Up 8.3% YoY 29-04-2014
QNBFS Alert - CBQK 4Q2013 Net Income Up 7 0% QoQ 10-02-2014
The Commercial Bank of Qatar (CBQK) Initiating Coverage with an Outperform 11-12-2013

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