2008-06-10 - AME Info - Credit Suisse Group cut the price estimate of Saudi British Bank by 37% after the bank issued bonus shares, reported Bloomberg. The price estimate cut was based 'solely on the back of the bonus issue', according to a note to clients. Credit Suisse added that it 'continues to see Saudi British Bank as one of the best managed banks in the region'. Credit Suisse cut the 12-month price estimate for the bank to 102.74 riyals from 161.85 riyals and maintained a 'neutral' recommendation on the stock. <BR>  

View full article...