Equity Analysis /
Bangladesh

United Commercial Bank: UNITED COMMERCIAL BANK - Upgrade to Hold as H1 18 EPS beats

    Waseem Khan
    Waseem Khan

    Equity Research Analyst, Financials, Consumer and Pharmaceuticals (Bangladesh)

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    Tellimer Research
    23 July 2018
    Published byTellimer Research
    UCB reported H1 18 EPS of BDT1.05, beating our forecast of BDT0.88 by 20%. The primary variances to our forecast were higher operating expenses (miss) and a reversal of other asset impairments (beat). The latter turned a 6% miss at the pre-provision profit level to a 20% beat for profit after tax.