Equity Analysis /
Pakistan

Pakistan Banks: Nearing a rebound

  • 2QCY21 results represent a strong beat. Revenue growth is picking pace and asset quality fears are unfounded

  • Valuations are at trough levels, and ROEs are projected to expand through the cycle

  • Earnings & return metrics have substantially improved. We are Overweight on Pakistan banks, UBL and BAFL are top picks.

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
14 September 2021