External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Meezan Bank (MEBL) announced 1Q2024 unconsolidated earnings of Rs25.4bn (EPS of Rs14.18), which is up 65% YoY. The result came in line with industry expectations.</li><li>Alongside result, bank also announced a first interim cash dividend of Rs7/share.</li><li>This strong profitability was led by growth in Net spread earned which grew by 65% YoY to Rs68bn in 1Q2024.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meezan Bank (MEBL) announced 1Q2024 unconsolidated earnings of Rs25.4bn (EPS of Rs14.18), which is up 65% YoY. The result came in line with industry expectations.Alongside result, bank also announced a first interim cash dividend of Rs7/share.This strong profitability was led by growth in Net spread earned which grew by 65% YoY to Rs68bn in 1Q2024.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meezan Bank (MEBL): 1Q2024 EPS at Rs14.2, up 65% YoY (result in-line with industry expectations)

<ul><li>Meezan Bank (MEBL) conducted its 2023 Corporate Briefing Session today where management discuss financial performance for 2023 and future outlook.</li><li>MEBL deposits grew by 34% YoY to Rs2.22trn in 2023. Management aims for a deposit growth rate of 18-20% in 2024.</li><li>Management anticipates pressure on Net Interest Margins (NIMs) in 2024 due to an expected decline in the policy rate from 2H2024; however, an asset pricing lag will support NIMs in 2024.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meezan Bank (MEBL) conducted its 2023 Corporate Briefing Session today where management discuss financial performance for 2023 and future outlook.MEBL deposits grew by 34% YoY to Rs2.22trn in 2023. Management aims for a deposit growth rate of 18-20% in 2024.Management anticipates pressure on Net Interest Margins (NIMs) in 2024 due to an expected decline in the policy rate from 2H2024; however, an asset pricing lag will support NIMs in 2024.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Topline Flash Note: Meezan Bank Limited (MEBL): Corporate Briefing Key Takeaways

<ul><li>Meezan Bank (MEBL) announced highest ever quarterly earnings of Rs26.4bn (EPS of Rs14.8) up 61% YoY and 4% QoQ in 4Q2023. The result came in line with our expectations.</li><li>This takes full year 2023 earnings to Rs84.5bn (EPS of Rs47.2) up 88% YoY, which is also the highest ever in the history of MEBL.</li><li>Alongside the result, bank announced final cash dividend of Rs8/share in 4Q2023, higher than our expectations of Rs5/share. In full year 2023, bank announced total dividend of Rs20/share.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meezan Bank (MEBL) announced highest ever quarterly earnings of Rs26.4bn (EPS of Rs14.8) up 61% YoY and 4% QoQ in 4Q2023. The result came in line with our expectations.This takes full year 2023 earnings to Rs84.5bn (EPS of Rs47.2) up 88% YoY, which is also the highest ever in the history of MEBL.Alongside the result, bank announced final cash dividend of Rs8/share in 4Q2023, higher than our expectations of Rs5/share. In full year 2023, bank announced total dividend of Rs20/share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meezan Bank (MEBL): Highest ever earnings and dividend in 2023

<ul><li>Meezan Bank (MEBL) announced highest ever quarterly earnings of Rs25.45bn (EPS of Rs14.2), which is up 2.2x YoY and 48% QoQ in 3Q2023. This takes 9M2023 earnings to Rs58bn (EPS of Rs32.4) up 103% YoY.</li><li>Alongside the financial result, bank also announced interim cash dividend of Rs5/share in 3Q2023, taking 9M2023 dividend to Rs12/share.</li><li>MEBL’s earning came slightly higher than industry expectation due to higher than expected Net Spread Earned which grew by 102% YoY and 29% QoQ to Rs64bn in 3Q2023.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meezan Bank (MEBL) announced highest ever quarterly earnings of Rs25.45bn (EPS of Rs14.2), which is up 2.2x YoY and 48% QoQ in 3Q2023. This takes 9M2023 earnings to Rs58bn (EPS of Rs32.4) up 103% YoY.Alongside the financial result, bank also announced interim cash dividend of Rs5/share in 3Q2023, taking 9M2023 dividend to Rs12/share.MEBL’s earning came slightly higher than industry expectation due to higher than expected Net Spread Earned which grew by 102% YoY and 29% QoQ to Rs64bn in 3Q2023.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meezan Bank (MEBL): Highest ever quarterly earnings of Rs25bn (EPS of Rs14.2) in 3Q2023

Pakistan

Meezan Bank Limited is a commercial bank dedicated to Islamic banking.  The bank provides a range of deposit products, loans, and other products through offices located throughout Pakistan.

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Meezan Bank (MEBL PA)

Meezan Bank (MEBL): 1Q2024 EPS at Rs14.2, up 65% YoY (result in-line with industry expectations)

Meezan Bank (MEBL) announced 1Q2024 unconsolidated earnings of Rs25.4bn (EPS of Rs14.18), which is up 65% YoY. The result came in line...

Topline Securities

Topline Flash Note: Meezan Bank Limited (MEBL): Corporate Briefing Key Takeaways

Meezan Bank (MEBL) conducted its 2023 Corporate Briefing Session today where management discuss financial performance for 2023 and future...

Topline Securities

Meezan Bank (MEBL): Highest ever earnings and dividend in 2023

Meezan Bank (MEBL) announced highest ever quarterly earnings of Rs26.4bn (EPS of Rs14.8) up 61% YoY and 4% QoQ in 4Q2023. The result came in line...

Topline Securities

Meezan Bank (MEBL): Highest ever quarterly earnings of Rs25bn (EPS of Rs14.2) in 3Q2023

Meezan Bank (MEBL) announced highest ever quarterly earnings of Rs25.45bn (EPS of Rs14.2), which is up 2.2x YoY and 48% QoQ in 3Q2023. This takes...

Topline Securities

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