Tuesday, January 19, 2021

HBL earning expects 63 percent decline YoY during 1QCY19

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

HBL will announce its 1QCY19 result on 24th April, 2019. Analysts expect HBL to post earnings of PKR 1.7bn (PKR 1.15/share) during 1QCY19, down 63% YoY while decreasing 31% QoQ.

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Primary drags on the profitability include the one-off additional super tax charge that all banks are required to pay on CY17 PBT, and continuation of the high OPEX (+22% YoY/24% QoQ) era for HBL (on account of NY branch related costs and business transformation costs).

Some support for the bank’s earnings is expected from a 12% YoY/9% QoQ hike in the bank’s NII, while NFI is expected to portray a jump of 15% YoY on the back of higher fee income.

NFI on a sequential basis is expected to register a significant 35% QoQ uptick owing to lower FX losses (hefty FX losses of PKR 2.7bn were booked during 4QCY18).

Analysts expect the bank to announce a dividend of PKR 1.00/share for the quarter.

 

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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