Earnings Report /

Meezan Bank: 2QCY22 Review – Large Fx gains lead to earnings beat

  • Fx gains triple yoy to PKR2.3bn - leading to an earnings beat

  • Asset repricing is set to continue, no visible asset quality headwinds

  • MEBL trades at a CY22f P/B of 1.8x and P/E of 5.7x. We retain our Buy rating

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
11 August 2022


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