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The balance sheet shrunk by seven percent despite a healthy growth in deposits. A 12.5 percent growth in deposits in the past six months added flying colours to the line managers and depicts consumers confidence in the financial strength of the bank.
The half yearly financial result of ICI Pakistan Limited for the period ending June 30, 2012 was released yesterday. An improved second quarter performance could do little to brighten the 1HCY12 results as the Companys profit for the period stood at Rs462.2 million compared to Rs972.5 millions same period last year.
The national flag carrier is drenched in red, as expected. The financial performance of Pakistan International Airlines for the half year ended June 30, 2012 is not pleasant at all. The airline has resided in the red zone for seven years consecutively since CY05, and from the looks of it, CY12 will be no different.
Faysal Bank Limited, in sharp contrast to the industry trend, posted a massive 36 percent year-on-year decline in net profits for the half year ended June 30, 2012. The decline came despite a sizeable increase of 14 percent in deposits over December 2011, which is significantly higher than the industrys performance on advances.
The dearth of foreign investment in Pakistan has become a serious threat to Pakistans economy as the investment as a percentage of GDP stands at its lowest in the countrys history at 12.5 percent. There was some good news on this front on Monday when the government announced the much awaited Petroleum Policy 2012, providing major incentives for investment in Pakistans oil and gas exploration and production industry.
The financial performance of Lotte Pakistan PTA for the half year ended June 30, 2012 based on the company notice sent to KSE yesterday looks awful. Lotte - one of the hottest scrips traded on the local bourse - is in deep loss, thanks to a dismal second quarter performance. Massive profitability decline in 1QCY12 foretold tough times ahead, but a net loss of nearly half a billion rupees in the following quarter is stunning.
Aggressive provisioning last year seems to have done the trick for commercial banks this time around. Askari Bank Limited (AKBL) announced its 1HCY12 financial results yesterday, posting a massive 56 percent year-on-year improvement in after-tax profits. This came on the back of significantly lower provision charges on NPLs against last year, as the NPL cycle seems to have peaked back then.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln