Global Bond Markets are hugely important for any economy, but especially for those with twin deficits (fiscal deficit and current account deficit). Pakistan’s fiscal deficit is currently being financed by commercial banks, and the current account deficit is currently being financed solely by the International Monetary Fund (IMF). When the fiscal deficit goes up, the… Continue reading Key Takeaways from Omar Soomro’s Global Debt Markets Webinar
Author: Anum Qudsia Siddiqui
Daily news: 27th July 2020
Good Morning The previous week saw the index continue with its upward trajectory, albeit at a relatively slower pace. We believe the index’s momentum hit some snags as investors likely opted to book their profits amidst the index’s recent rally. Moreover, there is an air of uncertainty regarding the index’s ability for sustained recovery in… Continue reading Daily news: 27th July 2020
Habib Bank Limited (HBL) 2Q2020 Result: EPS at PkR7.53/sh – 60% above consensus
Habib Bank Limited (HBL) reported 2Q2020 result today, posting consolidated Profit after Tax (PAT) of PkR 11.04bn (EPS of PkR7.53/sh), up 16xY/Y and 1.7xQ/Q. The result is above market consensus (PKR 4.7/sh) and KASB estimates (PKR 4.26/sh) by 60% and 77%, respectively. Moreover, as per SBP’s directive, the bank did not declare any interim cash… Continue reading Habib Bank Limited (HBL) 2Q2020 Result: EPS at PkR7.53/sh – 60% above consensus
Pakistan Banking Sector Result Preview- Banks to post decent 2Q20 results despite of high provisioning
-We think the key issues to look out for in 2Q20 results will be 1) The sensitivity of core income to the interest rates cut and 2) rise in provisions. –In 1Q2020, provisions for the sector increased by 8.9x Y/Y. We expect this trend to continue and provisioning expense to remain high in 2Q2020. Moreover,… Continue reading Pakistan Banking Sector Result Preview- Banks to post decent 2Q20 results despite of high provisioning
FFBL announces a loss of PKR 1.24/sh during 2QCY20
– FFBL announced its result for 2QCY20 earlier today, posting a loss of PKR 1,160mn (EPS: PKR -1.24) compared with a loss of PKR 84mn (EPS: PKR -0.09) recorded during 2QCY19. Cumulative loss for 1HCY20 stood at PKR 4,207mn (EPS: PKR -4.50) against a loss of PKR 1,951mn (EPS: PKR -2.09) posted during 1HCY19. – FFBL’s revenues grew… Continue reading FFBL announces a loss of PKR 1.24/sh during 2QCY20
HCAR starts year on a depressed note
– Honda Atlas Cars (HCAR) announced its financial results earlier today, posting a loss of PKR 511mn (EPS: PKR -3.58) during 1QMY21 compared with earnings of PKR 242mn (EPS: PKR 1.69) during 1QMY20. Profitability attrition can largely be attributed to subdued sales during the period under review. – HCAR’s revenues eroded by 64% YoY to PKR 6,512mn during… Continue reading HCAR starts year on a depressed note
Daily news: 24th July 2020
Good Morning The liquid foreign currency reserves held by the country rose $95 million to $19,047.3 million on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. National Electric Power Regulatory Authority (Nepra) on Thursday approved increase in electricity tariffs of Discos for five months and reduction for… Continue reading Daily news: 24th July 2020
Pakistan Fertilizers – Earnings to rebound amidst recovering off-take
Earnings for the fertilizer sector during 2QCY20 are expected to rebound supported primarily by recovering off-take, particularly during Jun20. Off-take during Apr20 and May20 were largely affected by the uncertainty regarding the announced subsidy on urea, compelling dealers to withhold their purchases till further clarity. Moreover, the coronavirus led lockdown also affected sales during the… Continue reading Pakistan Fertilizers – Earnings to rebound amidst recovering off-take
