External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>Habib Bank (HBL) conducted its conference call today where management discussed financial performance and outlook.</li><li>HBL’s total deposits have increased by 7% from Rs5.5trn in Dec 2025 to reach Rs5.9trn in Jun 2026.</li><li>We maintain a buy stance on HBL, with the stock currently trading at a 2026E PE ratio of 7.5x, PBV ratio of 0.9x, and dividend yield of 7%.</li></ul>

Habib Bank (HBL) conducted its conference call today where management discussed financial performance and outlook.HBL’s total deposits have increased by 7% from Rs5.5trn in Dec 2025 to reach Rs5.9trn in Jun 2026.We maintain a buy stance on HBL, with the stock currently trading at a 2026E PE ratio of 7.5x, PBV ratio of 0.9x, and dividend yield of 7%.

Topline Flash Note: Habib Bank (HBL) - Conference Call Key Takeaways

<ul><li>Habib Bank (HBL) announced its 2Q2026 results today, reporting its highest-ever quarterly consolidated profit of Rs18.3bn (EPS: Rs12.5), up 3% YoY and 14% QoQ.</li><li>Net Interest Income (NII) remained flat YoY but declined by 3% QoQ to Rs69bn, mainly due to hike in the policy rate.</li><li>On balance sheet side, bank’s deposit increased by 14% YoY and 10% QoQ to Rs5.9trn in Jun-26.</li></ul>

Habib Bank (HBL) announced its 2Q2026 results today, reporting its highest-ever quarterly consolidated profit of Rs18.3bn (EPS: Rs12.5), up 3% YoY and 14% QoQ.Net Interest Income (NII) remained flat YoY but declined by 3% QoQ to Rs69bn, mainly due to hike in the policy rate.On balance sheet side, bank’s deposit increased by 14% YoY and 10% QoQ to Rs5.9trn in Jun-26.

Habib Bank (HBL) – 2Q2026 EPS at Rs12.5, Up 3% YoY (Earnings in Line With Our Expectations)

<ul><li>Habib Bank Limited (HBL) conducted its corporate briefing session today where the management discussed 1Q2026 results and future outlook.</li><li>HBL’s total deposits have surged by 21% in 1Q2026 to reach Rs5.4trn with domestic contribution of 85%. In domestic deposits, Current Accounts (CA) and Saving Account (SA) grew by 19% YoY and 15% YoY to reach Rs1.8trn and Rs2.1trn in 1Q2026. Also, Term deposits (TD) increased by 81% YoY to Rs653bn in 1Q2026.</li><li>HBL’s investment portfolio stands at Rs4.8trn in 1Q2026. Rs2.5trn (51%) is in Floater PIBs, Rs1.2trn (24%) in Fixed PIBs, Rs827bn (17%) in T-bills, and (8%) in other securities. The management told that total investment portfolio’s yield remained better than current yields, while overall portfolio duration remained 0.96 in 1Q2026.</li></ul>

Habib Bank Limited (HBL) conducted its corporate briefing session today where the management discussed 1Q2026 results and future outlook.HBL’s total deposits have surged by 21% in 1Q2026 to reach Rs5.4trn with domestic contribution of 85%. In domestic deposits, Current Accounts (CA) and Saving Account (SA) grew by 19% YoY and 15% YoY to reach Rs1.8trn and Rs2.1trn in 1Q2026. Also, Term deposits (TD) increased by 81% YoY to Rs653bn in 1Q2026.HBL’s investment portfolio stands at Rs4.8trn in 1Q2026. Rs2.5trn (51%) is in Floater PIBs, Rs1.2trn (24%) in Fixed PIBs, Rs827bn (17%) in T-bills, and (8%) in other securities. The management told that total investment portfolio’s yield remained better than current yields, while overall portfolio duration remained 0.96 in 1Q2026.

Topline Flash Note: Habib Bank Limited (HBL) –Corporate Briefing Key Takeaways

<ul><li>Habib Bank (HBL) announced its 1Q2026 results today, reporting consolidated earnings of Rs16.1bn (EPS: Rs11.0), down 3% YoY but up 5% QoQ.</li><li>Earnings are in line with our expectations.</li><li>Alongside the results, the bank also announced a dividend of Rs6.0/share, higher than our expectation of Rs5.0/share.</li></ul>

Habib Bank (HBL) announced its 1Q2026 results today, reporting consolidated earnings of Rs16.1bn (EPS: Rs11.0), down 3% YoY but up 5% QoQ.Earnings are in line with our expectations.Alongside the results, the bank also announced a dividend of Rs6.0/share, higher than our expectation of Rs5.0/share.

Habib Bank Limited (HBL) – 1Q2026 EPS At Rs11.0, Down 3% YoY (In Line With Our Expectations)

<ul><li>Habib Bank Limited (HBL) conducted its management call today where the management discussed 2025 results and future outlook.</li><li>HBL's total deposits have increased by 27% in Dec-2025 to reach Rs5.5trn. Similarly Current Accounts (CA) grew by Rs0.4trn to reach Rs2.0tr in Dec-25, up by 27%. However, domestic CA mix decreased to 37.6% in Dec-2025 vs. 40.6% in Dec-2024.</li><li>We maintain a buy stance on HBL, with the stock currently trading at a 2026E PE ratio of 5.6x, PBV ratio of 0.8x, and dividend yield of 8%.</li></ul>

Habib Bank Limited (HBL) conducted its management call today where the management discussed 2025 results and future outlook.HBL's total deposits have increased by 27% in Dec-2025 to reach Rs5.5trn. Similarly Current Accounts (CA) grew by Rs0.4trn to reach Rs2.0tr in Dec-25, up by 27%. However, domestic CA mix decreased to 37.6% in Dec-2025 vs. 40.6% in Dec-2024.We maintain a buy stance on HBL, with the stock currently trading at a 2026E PE ratio of 5.6x, PBV ratio of 0.8x, and dividend yield of 8%.

Topline Flash Note: Habib Bank (HBL): Management Call Key Takeaways

Pakistan

Habib Bank Ltd operates commercial bank in Pakistan. The Bank offers commercial, corporate, Investment, retail and International Group Banking.

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Habib Bank Ltd (HBL PA)

Topline Flash Note: Habib Bank (HBL) - Conference Call Key Takeaways

Habib Bank (HBL) conducted its conference call today where management discussed financial performance and outlook. HBL’s total deposits have...

Topline Securities

Habib Bank (HBL) – 2Q2026 EPS at Rs12.5, Up 3% YoY (Earnings in Line With Our Expectations)

Habib Bank (HBL) announced its 2Q2026 results today, reporting its highest-ever quarterly consolidated profit of Rs18.3bn (EPS: Rs12.5), up 3% YoY...

Topline Securities

Topline Flash Note: Habib Bank Limited (HBL) –Corporate Briefing Key Takeaways

Habib Bank Limited (HBL) conducted its corporate briefing session today where the management discussed 1Q2026 results and future outlook. HBL’s...

Topline Securities

Habib Bank Limited (HBL) – 1Q2026 EPS At Rs11.0, Down 3% YoY (In Line With Our Expectations)

Habib Bank (HBL) announced its 1Q2026 results today, reporting consolidated earnings of Rs16.1bn (EPS: Rs11.0), down 3% YoY but up 5%...

Topline Securities

Topline Flash Note: Habib Bank (HBL): Management Call Key Takeaways

Habib Bank Limited (HBL) conducted its management call today where the management discussed 2025 results and future outlook. HBL's total deposits...

Topline Securities

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