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BofA: National Commercial Bank: Potential Acquisition of Samba could be Highly value creative: Upgrade to Buy

Tuesday, June 30, 2020/ Editor -  

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EMEA Equity Research Daily Highlights

BofA Global Research Media Relations

 

Dubai, United Arab Emirates, June 30, 2020:   Refer to important disclosures at the end of these reports (see links below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to Research Communications & Media Relations.

 

  National Commercial Bank: Potential Acquisition of Samba could be highly value creative: Upgrade to Buy

•  We double upgrade NCB to Buy from Underperform. We see potential merger with Samba as 7-10% EPS accretive by end of 2022
•  Potential merger with Samba harbours sound strategic rationale with strong scope for cost and revenue synergies
 


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