Earnings Report /
Pakistan

Bank Alfalah: 2QCY21 Result Review: NII bounces back

  • BAFL has posted 2QCY21 EPS of PKR2.02, up 24%yoy – an earnings beat

  • Sharp rise in NII offset a large provisioning charge (on account of an oil marketing firm)

  • BAFL’s valuations remain attractive - CY22f P/B is 0.56x and P/E is 4.6x. We have a Dec'21 TP of PKR45/sh

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
25 August 2021