Earnings review for BAFL, UBL and ABL

Dear Clients,

– Bank Alfalah Limited (BAFL) reported 1QCY21 result today posting unconsolidated Profit after Tax (PAT) of PkR3.5bn (EPS: PkR2.0, up 23%Y/Y). The result was above industry’s expectations because of lower provisioning and higher than anticipated NFI.

– United Bank Limited (UBL) reported 1QCY21 result today posting Profit after Tax (PAT) of PkR7.6bn (EPS: PkR6.2, up 56%Y/Y). The result was above industry’s expectations because of higher capital gains and lower provisioning.

– Allied Bank Limited (ABL) reported 1QCY21 result today posting Profit after Tax (PAT) of PkR4.0bn (EPS: PkR3.5). The result was above industry’s expectations because of higher capital gains and lower provisioning.

KASB Research

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