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
Category: Sector
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
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:
Automobile sales witnesses a large decline amid lockdown
The Automobile sales for March 2020 have recently come out. As expected, there is a Year on Year fall of 50%, 59% and 78% seen in Indus Motors, Honda Car and Pak Suzuki Motors, respectively. Similarly, we have seen a 67% and 33% decline in the sales of Tractors for Al Ghazi Tractors and Millat… Continue reading Automobile sales witnesses a large decline amid lockdown
OPEC+ reach a deal; our view does not deem it enough
▪The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries,such as Russia, reached a deal on Sunday, with participants agreeing on cutting overallproduction by 9.7 MN BPDs (amounting to ~10% of global supply) up till Jun’20. Thiseffectively brought the price war between Russia and Saudi Arabia to a halt. ▪ Timeline of the talks: The… Continue reading OPEC+ reach a deal; our view does not deem it enough
OPEC+ To Meet Today – 090420
The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC players(such as US and Russia) are scheduled to commence discussions at 7pm PakistanStandard Time today, to discuss the possibility of a coordinated production cut. Thecut is expected to move the curve closer to the demand-supply equilibrium andsupport the commodity’s prices. ▪ The discussion between the OPEC… Continue reading OPEC+ To Meet Today – 090420
Rumored details of the much-awaited construction package
The chatters of a relief package for the construction industry in Pakistan have beenmaking rounds for a week and are expected to be announced today. Reeling from amassive plunge in the economic activity, the GoP is pinning hopes on the revival of theconstruction industry to create mass employment opportunities. According to theinformation available, the package… Continue reading Rumored details of the much-awaited construction package
KASB Research Pakistan: Crude oil slumps-E&P estimates revised
We are revising down our earnings estimates for the Oil & Gas Exploration Sector based on: 1) prevalent weakness in international crude oil; and 2) a monetary easing scenario. The recent PKR depreciation, however, may provide cushion to our sector’s estimates. ▪ Crude oil futures lost footing on March 30, 2020, on the back of… Continue reading KASB Research Pakistan: Crude oil slumps-E&P estimates revised
