reports
- Syavash Pahore
Pakistan Banking Sector - 1Q2018 Earnings to Decline Due To Lower Capi...
1Q2018 Earnings are expected to decline by 14.6%YoY. Lower capital gains and the low interest rate environment are expected to keep revenues on a slightly declining trend. Total revenues are expected to remain flat as a result of 6.7%YoY growth in Net Interest Income (NII) which is expected to be set off by 16.5% decline in Non Funded Income (NFI). The decline in NFI is due to 76.3%YoY expected decline in capital gains. HMB is projected to post a YoY growth of 4% while FABL is expected to d...
- Syavash Pahore
Faysal Bank Limited - Recent Price Performance Remains Unjustified
Islamic conversion for FABL has more hurdles than benefits in the short term including reduced yields on advances due to re-profiling, inability to participate in PIBs and the lack of sufficient Ijarah Sukuk issues to channel liquidity. Over the longer term, provided a credible Islamic brand is established, high double digit asset growth is possible, similar to Meezan Bank’s case in the past. The stock has increased 45% 2018TD on bonus issue excitement and rumors of a potential sell off – ...
- Syavash Pahore
Pakistan Banking Sector - Life After PIB Bonanza (Detailed Report)
Initiating Coverage on ABL, BAHL, FABL and HMB: We expand our Banking Universe by initiating coverage on ABL, BAHL, FABL and HMB with Dec-18 PT’s of PKR90/share, PKR75/share, PKR25/share and PKR30/share respectively. Overall we maintain a Marketweight stance on the sector as we eye NIM compression over the medium term, however we highlight select plays that 1) stand to gain the most and fastest amidst expected interest rate cycle reversal next year, 2) have longer term and higher yield PIB portf...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.