{"id":565945,"date":"2021-05-18T13:38:41","date_gmt":"2021-05-18T13:38:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/meet-our-analyst-of-the-week-pharos-dalia-bonna\/"},"modified":"2021-05-18T13:38:41","modified_gmt":"2021-05-18T13:38:41","slug":"meet-our-analyst-of-the-week-pharos-dalia-bonna","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/meet-our-analyst-of-the-week-pharos-dalia-bonna\/","title":{"rendered":"Meet our analyst of the week: Pharos\u2019 Dalia Bonna"},"content":{"rendered":"

<\/a> OUR ANALYST OF THE WEEK-<\/strong> Dalia Bonna, assistant vice president at Pharos Holding for Financial Investments (LinkedIn<\/a>).<\/p>\n

My name is Dalia Bonna and I\u2019m the assistant vice president at Pharos<\/strong>, covering banking and NBFS services in Egypt.<\/strong> Banking for me is the most complex sector and it\u2019s a constant learning process. I graduated from AUC with a bachelor in business administration and double minor in economics and mathematics. I joined Pharos three months after graduating and the firm has really given me the chance to get a deep exposure at a young age as they don\u2019t stick to a complex corporate hierarchy.<\/p>\n

I consider myself very lucky for joining Pharos when I did.<\/strong> It was September 2016, two months before the EGP floatation, and I started off my career during a very interesting period. I enjoyed the constant necessary hands-on and feeling like I was a part of this huge economic event. Of course, the pandemic has managed to compete with that time as a contender for an apocalyptic time in the finance industry [laughs].<\/p>\n

The best part of my job is that there's always more to know. <\/strong>The sky's the limit. There is no right way to do things or right answers: for every opinion, there is a counter opinion. That just means that you have to be even more creative in how you value companies, write reports, and communicate ideas.<\/p>\n

The worst part of the job is working with weak disclosures. <\/strong>It feels like you\u2019re blindfolded or handicapped and trying to make sense of what little you have to turn it into something meaningful. Of course, never being able to disconnect or relax is also overwhelming at times.<\/p>\n

Work from home has worked well for me.<\/strong> I\u2019m more focused because there are less distractions and I\u2019m more able to organize my time inside and outside of work. I\u2019m grateful that this pandemic has normalized working from home for us and our clients. However, I wouldn\u2019t stick to this 100%, I do think going to the office is important as well, so maybe a mix of both would be ideal.<\/p>\n

My theory of investment is to diversify, be agile, and be responsive to maximize your returns.<\/strong> I think moderation is my life motto and I apply it to everything. When investing, you should never put all your eggs in one basket, or in this case, one stock or sector.<\/p>\n

Before recommending an investment I always focus on the company\u2019s fundamentals.<\/strong> I also look at how the story of the stock makes sense against the economy. The impact of the regulatory environment plays a very important role, especially in banking because it's highly regulated. And then I narrow it down to clients\u2019 stress tolerance, investment objective, and whether it's a long or short-term investment.<\/p>\n

Since covid, I\u2019ve started putting more emphasis on portfolio quality when looking at banking stocks.<\/strong> This is a major metric that has major consequences on profitability as non-performing loans are very possible after the pandemic. That also means looking at the bank\u2019s provisions and capital base.<\/p>\n

We\u2019re almost halfway through 2021 and I think it\u2019s been a better year for everyone than 2020.<\/strong> We\u2019re on the right track on the ground and on the macro front we\u2019ve continued to grow with a positive economic outlook going forward.<\/p>\n

I\u2019m more optimistic about 2022 though \u2014 for all sectors and for banking in particular. <\/strong>The banking sector spent a few years experiencing new regulations and working to implement them, pushing profitability down on its priority list. However, next year the impact of all these changes will finally make themselves clear and we expect the quality of portfolios to be better. For the general economy, I think that there has been a lot of pent up investment waiting for Egypt to stabilize and once the vaccine rollout progresses, we\u2019ll finally see it implemented.<\/p>\n

The pandemic also normalized uncertainty, supporting a more confident outlook for 2022 globally. <\/strong>The perception of risk has changed for many people as they will now accept a higher level of uncertainty. The events of covid made us kind of immune to weird unexpected events happening [laughs].<\/p>\n

If I had to switch to cover another sector, I\u2019d go for oil and gas because of the story behind it.<\/strong> I think it\u2019s interesting that it\u2019s greatly influenced by geopolitical factors that can sometimes transcend the normal supply and demand.<\/p>\n

The last great thing I watched is the German series <\/strong>Dark<\/a><\/strong>.<\/strong> It\u2019s very heavy and definitely not a TV show to relax to, but I felt it was beautifully put together with unexpected twists and turns. I consider it a masterpiece.<\/p>\n

The last great thing I read is <\/strong>Power of Now<\/a><\/strong> by Eckhart Tolle. <\/strong>It\u2019s a fantastic book and just what I needed at the time. It made me more self-aware and able to stay in the present moment.<\/p>\n

When I\u2019m not on the clock, I like to spend time with family or friends. <\/strong>I\u2019m a fan of engaging in any kind of physical activity and I\u2019ve tried a ton of sports such as basketball, swimming, and gymnastics. During the past period, I\u2019ve been consistent with cross fit training. Of course, when there isn\u2019t a pandemic going on, I love to travel. My favorite destination is El Nido, which is an Island in the Philippines.<\/p>\n

If I had to switch jobs to anything else, I would be a pilot so I could travel as much as I can. <\/strong>Honestly, I don\u2019t mind working as anything that would get me on a plane every few days.<\/p>\n

\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 1.0% at today\u2019s close<\/strong> on turnover of EGP 1.67 bn (25.8% above the 90-day average). Foreign investors were net sellers. The index is down 0.6% YTD.<\/p>\n

In the green: <\/strong>ElSewedy Electric (+6.5%), GB Auto (+6.2%) and EKH (+4.2%).<\/p>\n

In the red: <\/strong>Export Development Bank (-1.8%), Ibnsina Pharma (-0.7%) and CIB (-0.5%).<\/p>\n","protected":false},"excerpt":{"rendered":"

OUR ANALYST OF THE WEEK- Dalia Bonna, assistant vice president at Pharos Holding for Financial Investments (LinkedIn). My name is Dalia Bonna and I\u2019m the assistant vice president at Pharos, covering banking and NBFS services in Egypt. Banking for me is the most complex sector and it\u2019s a constant learning process. I graduated from AUC […]<\/p>\n","protected":false},"author":1,"featured_media":565946,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7219],"tags":[633,642],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-go-with-the-flow","tag-enterprisepm","tag-go-with-the-flow","wpautop","entry"],"acf":{"mongo_id":"77e9b2e5-f0d7-4f54-8dd9-f0b6e46a534f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/382.jpg","photo_position":"above","related_issue":[565935],"teaser":"","voice_url":""},"yoast_head":"\nMeet our analyst of the week: Pharos\u2019 Dalia Bonna - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/meet-our-analyst-of-the-week-pharos-dalia-bonna\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meet our analyst of the week: Pharos\u2019 Dalia Bonna\" \/>\n<meta property=\"og:description\" content=\"OUR ANALYST OF THE WEEK- Dalia Bonna, assistant vice president at Pharos Holding for Financial Investments (LinkedIn). 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CI Capital shares soared more than 9% today as Banque Misr made an offer to acquire an undisclosed stake, according to a statement by the Financial Regulatory Authority (pdf). Banque Misr already holds a 24.7% stake\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558970,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/04\/mmmm-borrowing\/","url_meta":{"origin":565945,"position":1},"title":"Mmmm\u2026 Borrowing\u2026","author":"enterpriseam admin","date":"4 January 2021","format":false,"excerpt":"Expect corporate borrowing to boom this year \u2014 but bank margins to remain thin, our friends at Pharos say in their 2021 outlook for the sector. Last year\u2019s 400 bps of interest rate cuts \u2014 starting with 300 bps in March followed by 50 bps in each of September and\u2026","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/36.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575748,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/26\/institutional-investors-research-houses-hold-the-line-on-cib\/","url_meta":{"origin":565945,"position":2},"title":"Institutional investors, research houses hold the line on CIB","author":"enterpriseam admin","date":"26 October 2020","format":false,"excerpt":"Institutional investors, research houses hold the line on CIB amid selling pressure from retail investors following Ezz Al Arab\u2019s resignation. Four research houses have affirmed their ratings on CIB after Hisham Ezz Al Arab stepped down on Friday as chairman and managing director following a probe by the Central Bank\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/266.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544271,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/meet-our-analyst-of-the-week-al-ahly-pharos-omar-el-watan\/","url_meta":{"origin":565945,"position":3},"title":"Meet our analyst of the week: Al Ahly Pharos\u2019 Omar El Watan","author":"enterpriseam admin","date":"22 February 2022","format":false,"excerpt":"OUR ANALYST OF THE WEEK- Omar El Watan, investment banking analyst at Al Ahly Pharos (Linkedin).My name is Omar El Watan and I\u2019m an investment banking analyst at Al Ahly Pharos. I\u2019ve worked in similar roles at Zilla Capital and BKR Egypt. I graduated from Telfer School of Management at\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/534.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567199,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/15\/egypts-al-ahly-capital-to-acquire-pharos-asset-management-for-egp-20-mn\/","url_meta":{"origin":565945,"position":4},"title":"Egypt\u2019s Al Ahly Capital to acquire Pharos\u2019 asset management for EGP 20 mn","author":"enterpriseam admin","date":"15 January 2020","format":false,"excerpt":"M&A WATCH- Al Ahly Capital is planning a c. EGP 20 mn bid for Pharos Holding\u2019s asset management and investment banking arms, Al Mal reports, citing sources familiar with the bid. The sources said that the acquisition could be completed within the coming two months. Al Ahly Capital, a National\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590686,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/31\/egypts-ahly-capital-to-fully-acquire-pharos-securities\/","url_meta":{"origin":565945,"position":5},"title":"Egypt\u2019s Ahly Capital to fully acquire Pharos Securities","author":"enterpriseam admin","date":"31 December 2019","format":false,"excerpt":"M&A WATCH- Ahly Capital to fully acquire Pharos Securities: National Bank of Egypt-owned Al Ahly Capital has signed a final agreement with Pharos Holding to acquire 100% of its brokerage arm, Pharos Securities, NBE said in a statement carried by Al Mal. The acquisition is reportedly worth EGP 120 mn,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=565945"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565945\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565935"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565946"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565945"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565945"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}