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IBN SINA Pharmaceutical: 24% YoY growth in annual earnings, 31% rise in Q4 2022 YoY earnings

Annual EPS of BDT 19.4 meets our expectations, growing by c24% YoY. c31% dividend payment similar to our expected pay-out level of c30%. We reiterate Buy with TP BDT 370.0 (ETR 21.3%).
IDLC Securities Tanay
Tanay Kumar Roy @ IDLC Securities 6 September 2022

Mobile money: bKash moves into profit as scale and strategic shift pay dividends

Bangladesh’s leading mobile money platform, bKash, posted a quarterly pre-tax profit for the first time in over 3 years. Investment to acquire merchants and boost e-wallet use has depressed profitability but the long-term strategy is sound. Digital p...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 19 August 2022
Mobile money: bKash moves into profit as scale and strategic shift pay dividends
Mobile money: bKash moves into profit as scale and strategic shift pay dividends

Walton Hi-Tech Industries: Annual FY 22 earnings declined by 26% yoy due to margin contraction

EPS of the company stood at BDT40.16 (NPAT BDT12,166mn) in FY22, implying c26% decline. Q4 FY22 EPS stood at BDT 13.1 against BDT 20.1 in Q4 FY21, thus implying c35% earnings decline yoy. WALTONHIL declared BDT 25/share cash dividend in FY22 for the....
IDLC Securities Shopnil
Shopnil Paul @ IDLC Securities 17 August 2022
Flash Report / Bangladesh

BRAC Bank: Q2 22 – 22% NPAT decline on spread contraction & subsidiaries' loss

BRAC Bank reported BDT 1,041mn NPAT (excluding minority interest) in Q2 CY22 against BDT 1,340mn reported in Q2 CY21. The lending portfolio of the core banking business increased by c32% YoY and c16% YTD. bKash’s net loss decreased by c41% YoY to BDT...
IDLC Securities Shopnil
Shopnil Paul @ IDLC Securities 16 August 2022

India and Pakistan 75th anniversary in 10 charts

India and Pakistan mark their 75th anniversary of independence (Bangladesh, formerly East Pakistan, turned 50 in March). Mutual fear underpins messaging of dominant political powers, India's BJP and Pakistan's military, and obstructs trade. Very diff...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 14 August 2022
India and Pakistan 75th anniversary in 10 charts
India and Pakistan 75th anniversary in 10 charts

Food prices drop in July, down 9% mom, albeit still up 55% from trough

The latest UN FAO World Food Price index (published on 5 August) declined again from the March 2022 all-time high: down 8.6% in July, following 0.3%, 0.8% and 2.3% declines in April, May and June, respectively, but still up 13% yoy, and up 55% from t...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 7 August 2022
Food prices drop in July, down 9% mom, albeit still up 55% from trough
Food prices drop in July, down 9% mom, albeit still up 55% from trough