Equity Analysis /

Meezan Bank: Correction has opened up valuations

  • We raise our EPS estimates for MEBL as we build in higher margins and a larger balance sheet

  • MEBL’s ROE should clock in at more than 30% over the next two years

  • This stacks up well against a CY22f P/B of 1.8x and P/E of 6.0x. Our TP of PKR175/sh offers a 42% ETR.

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
21 March 2022


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