Normalization of Admin Expenses to Result in Estimated EPS of PKR 1.64
Bank Al Falah Limited (BAFL) is scheduled to announce its 1QCY18 results on Thursday April 19, 2018. We expect the Bank to post earnings of PKR 1.64/share during the quarter, down 5.2% YoY and up 121.7% QoQ. The decline in earnings on a YoY basis is expected because of a rise in provisions charge for non-performing loans. Compared with 4QCY17, earnings are expected to rise in 1QCY18 because of normalization of administrative expenses. These expenses were unusually high in 4QCY17 because of certain non-recurring charges including consultancies and ex-gratia payments to outgoing executives.
Bank Alfalah Limited is a holding company. The Company's segments include Retail banking, including loans, deposits, trading activity, wealth management and other banking transactions with its retail and middle market customers; Corporate banking, which includes loans, deposits, project financing, trade financing, investment banking and other banking activities with its corporate and public sector customers; Treasury, including liquidity management activities carried out through borrowing, lending and money market operations; Consumer banking, including constitutes consumer financing activities with individual customers; Islamic banking, pertaining to its full scale Islamic Banking operations; International operations, which includes amounts related to its overseas operations, namely, commercial banking activities in Bangladesh and Afghanistan, and wholesale banking activities in the Kingdom of Bahrain, and Others, including merchant banking related activities.
Ismail Iqbal Securities (Private) Limited (IISPL) is a TREC holder of the Pakistan Stock Exchange, as well as an SECP registered Underwriter and Book Runner. IISPL provides comprehensive financial services including Equity Sales, Research on Equities and the Macro-Economy, Investment Advisory, Portfolio Management, Corporate Finance, and extensive services for Private Equity investors. IISPL services a diversified client base, from Institutional to Retail Investors including High Net worth Individuals.
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