Equity Analysis /
Pakistan

Habib Bank: 2QCY21 review – Cost control and capital gains lift earnings

  • HBL posted 2QCY21 EPS of PKR6.35, up 12%qoq but lower by 16%yoy – above expectation.

  • The earnings beat stems from (i) large capital gains offsetting high provisions, and (ii) strong cost control

  • HBL announced an interim cash dividend of PKR1.75/sh, in-line with projections.

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
29 July 2021