Pakistan Bank: Banks core income to decline in 4QCY24E - By JS Rresearch

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We preview 4QCY24 results for Pakistan banks which are expected to broadly report YoY decline in core income due to NIMs contraction. Moreover, higher taxation is expected to outweigh gains from elevated non-core income and asset base growth.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Despite the decline in core income and continued reduction in asset yields, which will impact future quarterly profits, we expect the dividend strategies for 4QCY24 to remain intact.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Within our Banking Universe, we expect HBL to report EPS of Rs7.5 (-26% YoY), UBL Rs11.9 (+8% YoY), MEBL Rs12.3 (- 18% YoY), AKBL Rs3.4 (-2...