The MENA Equity Research focuses on issuing independent, fundamental and insightful research on actively traded equities in the MENA region. A group of dedicated equity analysts with extensive experience, both regionally and internationally, are organized in teams that focus on specific sectors. Each team looks at regional and global developments in a particular sector and identifies the various forces to understand its implication on the sector’s future

Initial market research is provided through Sector Primer documents, while priority of coverage for individual companies is driven by the liquidity of the share and transparency of information flow to investors. Analysts study regional and global developments, talk to competitors, suppliers and customers and develop a long-term working relationship with management.

A thorough analysis of historical financial statements is then conducted and an initial research document is issued with 5 years of forecasted financial statements. Subsequently, updates to the initial document are issued in the form of Research Comments whenever it is felt that a material change in opinion and/or estimates has occurred.

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Banking Sector

Building Materials Sector

Cement Sector

Construction Sector

Energy and Petrochemical Sector

Food and Beverage Sector

Real Estate Sector

Retail Sector

Telecom Sector

Transportation and Logistics Sector

Utilities Sector

We welcome your inquiries. If you would like to receive our electronic publications, please contact us at:

NBK Capital MENA Research
Tel: +965 2224 6663
Fax: + 965 2224 6984
E-mail: menaresearch@nbkcapital.com.kw