Based on channel checks, cement manufacturers have come to a consensus over the industry’s pricing levels, agreeing to hike domestic prices by PKR 50/bag. This hike is anticipated to be effective tomorrow and will likely take domestic prices to PKR 550/bag. This increase comes ahead of the projected acceleration in construction activity subsequent to the… Continue reading Consensus achieved over PKR 50/bag hike in cement prices
Author: Anum Qudsia Siddiqui
Habib Bank Limited (HBL) 1Q2020 Result: EPS at PkR2.79/sh-17% below consensus
Habib Bank Limited (HBL) reported 1Q2020 result today posting consolidated Profit after Tax (PAT) of PkR4.1bn or EPS of PkR2.79/sh, up 34%Y/Y. Along with this, HBL paid out PkR 1.25/sh as dividend. The result is below market consensus and KASB estimates of PkR 3.37/sh and PkR 3.47/sh, by 17% and 19%, respectively. We expect… Continue reading Habib Bank Limited (HBL) 1Q2020 Result: EPS at PkR2.79/sh-17% below consensus
MCB Bank Limited (MCB) 1Q2020 Result: EPS at PkR5.59/sh-11% above consensus
MCB Bank Limited (MCB) reported 1Q2020 result today posting consolidated Profit after Tax (PAT) of PkR 6.6bn or EPS of PkR 5.59/sh, up 33%Y/Y. Along with this, MCB paid out PkR 5.00/sh as dividend. The result is above market consensus of PkR 5.04/sh by 11%. KASB’s estimate was PkR 5.62/sh. We expect the stock… Continue reading MCB Bank Limited (MCB) 1Q2020 Result: EPS at PkR5.59/sh-11% above consensus
ABL 1Q2020 Result: EPS at PkR 3.51/sh- slightly above market consensus
Allied Bank Limited (ABL) reported 1Q2020 result today posting Profit after Tax (PAT) of PkR4.02bn or EPS of PkR3.51/sh, up/down 35%Y/Y. Along with the result, ABL announced PkR 2/sh as dividend. However, SBP in its notification today advised Banks/DFI/MFB to suspend dividend for quarters ending March and June 2020. The result was above market… Continue reading ABL 1Q2020 Result: EPS at PkR 3.51/sh- slightly above market consensus
Impact of the Great Lockdown on the US, Europe & Emerging Economies
KASB Ray of hope: Ostrich strategy
Dear Friends, Pakistan has now officially joined the group of countries following what is being called the Ostrich strategy. I wrote a few weeks earlier about Belarus’s President who recommends vodka and ice hockey. We are god fearing people – our cures are different. The State’s strategy of lock down seems to have capitulated –… Continue reading KASB Ray of hope: Ostrich strategy
State Bank of Pakistan (SBP) advises banks to suspend dividend for March and June 2020
State Bank of Pakistan in its circular Ref. no. BPRD/BA & CPD/006315/20 advised Banks/DFI/MFB to suspend distribution of profits by way of declaring dividend in any manner (cash or stocks) for the quarter ending March 31, 2020 and half year ending June, 2020. This will conserve the capital and would enhance the lending and loss… Continue reading State Bank of Pakistan (SBP) advises banks to suspend dividend for March and June 2020
Commercial Banks 1Q2020 Earnings Forecast:
HBL, UBL, ABL and MCB will publish their quarterly results today, 22nd of April. BAFL will announce the result on 26th April, 2020 and MEBL has not yet announced the date. Our estimates are below. We think the consensus estimates will be revised down post these results. We expect most banks to revise their guidance.… Continue reading Commercial Banks 1Q2020 Earnings Forecast:
Economic Calender: April 2020
Daily News: 21st April 2020
Good Morning Foreign Direct Investment (FDI) in Pakistan rose sharply by 137 percent YoY during the first nine months of this fiscal year (FY20).The State Bank of Pakistan (SBP) Monday reported that Pakistan fetched FDI amounting to $2.148 billion during July-March of FY20 compared to $905 million in the same period of last fiscal year… Continue reading Daily News: 21st April 2020
