Equity Analysis /

Allied Bank: INTERMARKET INTEL: ABL 2QCY18: Profit in line, but NII disappoints

    Tellimer Research
    9 August 2018
    Published byTellimer Research
    ABL has posted 2QCY18 consolidated NPAT of PKR3,401mn (EPS: PKR2.97), up 16%yoy (lower by 1%yoy on a pre-tax basis). Results were accompanied by a 2nd interim dividend of PKR2.0/sh, taking 1HCY18 payout to PKR4.0/sh. While earnings are inline with our estimated EPS of PKR2.85, NII came in lower than estimated, which dampens our enthusiasm for the quality of the result.