Faysal Bank Ltd : Result  1QCY16 - By BMA Research

<p></p><ul><li><span style="font-size:small;">The BoD of Faysal Bank Limited (FABL) is scheduled to meet to consider 1QCY16 earnings on April 27, 2016 where we foresee the bank to post PAT of PKR1.14bn (EPS: PKR0.95) against preceding year same period earnings of PKR1.88bn(EPS: PKR1.57), depicting con- traction of 39% Y/Y. This translates into bottom line expansion of 32% Q/Q underpinned by growth in net interest income (NII) along with decline in admin expenses.</span></li></ul><ul><li><span style="font-size:small;">Core income is likely to taper by 7.14% Y/Y to PKR3.49bn with the decline mainly due to interest rates being slashed by 200bps. However, on a successive basis, NII is expected to climb up by 4.8% Q/Q as the bank focuses on retail banking&nbsp;&nbsp;offer- ing lucrative spreads with one of the highest ADR in the industr...