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BR Research: All


Yesterday marked the end of a 6-day losing streak at the Karachi Stock Exchange. By the end of Tuesday's trading session the benchmark KSE had shred about 700 points in what formed the biggest selling streak since July 2014.
National Investment Trust Limited (NITL) - the mutual fund industry giant - continued to shine during nine months ended September 2014 with the profitability of its funds persistently sloping upwards.
Meezan Bank is doing pretty well. The latest financial results announced for 9MCY14 reveal a solid performance from top to bottom - with literally all heads of account showing double digit growth. The countrys largest Islamic bank continues to ride on its sound asset quality and the ever impressive contribution from other income.
After coming on the recovery path in FY13, Shell Pakistan seems to be climbing up the growth ladder by focusing on increasing its market share and operational efficiencies. In its latest financial performance, Shells earnings for 9MCY14 multiplied by more than four times that of 9MCY13.
Its a good time to reminisce when a quarter closes. But despite a (meager) current account surplus in September 2014, the balance of payment (BoP) situation for the quarter ending September 2014 is not uplifting. Other than remittances, most of the external account heads are firmly in the red, having deteriorated over the same period last year.
In times of thin spreads, prudence plays a key role. MCB does exactly that, and quite efficiently too. The bank managed to post a 5 percent year-on-year in increase in after-tax profits for 9MCY14, mainly on the back of strong top line growth. MCB happens to have a largely de-risked balance sheet, something which most banks would envy.
NIB Bank is doing what most banks in Pakistan are not at the moment: it is lending more than it is investing. But doing what banks are supposed to do comes at a price these days. And NIB seems to have paid that price which is evident from its 9MCY14 financials. The banks after-tax profits went 33 percent down year-on-year, as the provisioning expense took its toll on the bottomline.


Index Closing Chg%
Arrow DJIA 17,719.00 0.19
Arrow Nasdaq 4,701.87 0.56
Arrow S&P 2,052.75 0.20
Arrow FTSE 6,678.90 0.26
Arrow DAX 9,483.97 0.12
Arrow CAC-40 4,234.21 0.75
Arrow Nikkei 17,300.86 0.07
Arrow H.Seng 23,349.64 0.10
Arrow Sensex 28,067.56 0.12

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln