Equity Analysis /
Pakistan

Bank Alfalah: Primed for a rebound

  • BAFL is delivering consistently strong profits. Our rolled over Dec 2022 TP is PKR50/sh (ETR: 54%)

  • BAFL has the cheapest valuations on offer within the IMS Banking coverage (CY22f P/B of 0.59x and P/E of 4.1x)

  • With the November MPS due today BAFL is an ideal bank to play the interest rate theme

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
19 November 2021