Category: Banking

Habib Bank Limited (HBL) held a conference call for Analysts and Investors today. The management reviewed 2Q2020 results and gave guidance regarding the future outlook of the bank. Key highlights of the conference call were: Most of the costs related to the closure of its New York branch have been incurred. HBL spent ~USD30mn in… Continue reading Habib Bank Limited (HBL) 2Q2020 conference call takeaways

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

-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

-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

Moody’s has placed Pakistan top 5 Banks(HBL, NBP, UBL, MCB, & ABL) on review for downgrade the B3 long-term local-currency deposit ratings, foreign currency deposit ratings and baseline credit assessments. The rating actions were followed by Moody’s decision to place the Government of Pakistan’s B3 issuer and senior unsecured ratings on review for downgrade on… Continue reading Moody’s places top five Pakistani banks’ ratings under review for downgrade

United Bank Limited (UBL) in its notice to PSX announced the appointment of Mr. Shazad G. Dada as its president and CEO with effect from July 1st, 2020 for a term of three years. Ms. Sima Kamil, the outgoing CEO and president of UBL, is completing her three year term on May 31st, 2020 and… Continue reading United Bank Limited (UBL): Management change

Bank Alfalah Limited (BAFL) held a conference call for Analysts and Investors today. Themanagement reviewed 1Q2020 results and gave guidance regarding the future outlookof the bank. Key highlights of the conference call were:  Provisioning expense surged 2.4xY/Y to PkR1.5bn largely driven by full upfrontimpairment charge (100% of total) taken on the equity portfolio despite… Continue reading Bank Alfalah Limited (BAFL) 1Q2020 conference call takeaways