A recent research report by Rabee Securities (RS) showed that Al-Mansour Bank's (net profit after tax increased 73 per cent quarter-on-quarter, during the third quarter of 2022, to $2.9 million. The bank increased total revenues by 40 per cent in the third quarter as compared to the previous quarter, reaching $5.6 million.
Tugba Tan Karakaya, analyst at the research department of Rabee Securities, stated that Al-Mansour Bank’s share price went up 19 per cent in the last one month (as of November 15) and over-performed the RSISX index by 21 per cent. The bank still has 145 per cent upside potential compared to its peak level on February 13, 2014 based on adjusted closing prices calculated by RS.
Al-Mansour Bank increased its annualised return on average equity (ROAE) to 4.2 per cent in the first nine months; the average annualised ROAE of Iraq stock market listed banks that recorded profit in the nine months of this year was 4.1 per cent.
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