Bank of Punjab (BOP): Earning clocked in at PKR 0.23/sh for 2QCY17 down 52%YoY – By Shajar Research
<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Bank of Punjab (BOP) announced financial result for 1HQCY17
yesterday on Aug 16, 2017. The Bank posted consolidated profit after tax of PKR
2.2bn (EPS of PKR 0.83) on fully diluted basisfor 1HCY17 down 21%YoY as
compared to profit after tax of PKR 2.7bn (EPS of PKR 1.05) in SPLY, mainly on
the backdrop of upsurge in non-interest expense coupled with higher provision
charges and tax expense.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We have an Overweight stance on BOP as our Dec’17 TP for the
stock is PKR 15.0/sh which reflects a massive upside of 42% from current Level.
Currently, BOP is trading at a CY17E P/E and P/BV of 5.32x and 0.79x,
respectively.</span></li><li><span style="font-family:Arial, H...
