Equity Analysis /
Pakistan

Bank Al Habib: Initiation of coverage – Great at what it does!

  • We initiate coverage on BAHL with a Buy rating and December 2021 TP of PKR89/sh.

  • BAHL is the leading trade finance bank in Pakistan, with best-in-class asset quality and a strong customer base.

  • BAHL trades at a CY21f P/B of 0.84x, which is at a 30% discount to the previous 5yr average.

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
26 May 2021