External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Habib Bank (HBL) announced its 4Q2025 results today, reporting consolidated earnings of Rs15.4bn (EPS: Rs10.5), up 7% YoY but down 9% QoQ. This takes 2025 earnings to Rs66.7bn (EPS: Rs45.5), up 14% YoY.</li><li>The 4Q2025 results came lower than industry expectations mainly due to lower-than-expected Non Interest Income coupled with higher effective tax rate.</li><li>Non Interest Income of the bank declined by 50% YoY and 22% QoQ due to capital loss on securities of Rs425mn in 4Q2025 vs. capital gain of Rs3.9bn in 4Q2024 and Rs4.6bn in 3Q2025.</li></ul>

Habib Bank (HBL) announced its 4Q2025 results today, reporting consolidated earnings of Rs15.4bn (EPS: Rs10.5), up 7% YoY but down 9% QoQ. This takes 2025 earnings to Rs66.7bn (EPS: Rs45.5), up 14% YoY.The 4Q2025 results came lower than industry expectations mainly due to lower-than-expected Non Interest Income coupled with higher effective tax rate.Non Interest Income of the bank declined by 50% YoY and 22% QoQ due to capital loss on securities of Rs425mn in 4Q2025 vs. capital gain of Rs3.9bn in 4Q2024 and Rs4.6bn in 3Q2025.

Habib Bank (HBL): 4Q2025 EPS At Rs10.5, Up 7% YoY (Earnings Lower Than Industry Expectations)

Habib Bank Ltd

Habib Bank (HBL): 4Q2025 EPS At Rs10.5, Up 7% YoY (Earnings Lower Than Industry Expectations)