External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Banks / Thematic (Sector/Industry)

<ul><li>Pakistan listed banks profitability increased to record Rs163bn up 95% YoY in 3Q2023. This was primarily driven by significant jump in Net Interest Income (NII) amid high interest rates, and balance sheet growth. In US$ terms listed banks profit was also up 50% YoY to US$560mn in 3Q2023.</li><li>NII of the sector clocked in at Rs481bn in 3Q2023 vs. Rs283bn in 3Q2022 up 70% YoY as average policy rates during 3Q2023 remained to 22% vs. 15% in 3Q2022. Interest income was up by 79% YoY to Rs1.6trn, whereas interest expense was up by 84% YoY to Rs1.1trn.</li><li>Non-interest income of the sector was down by 5% YoY to Rs79bn in 3Q2023 mainly due to loss on securities and decline in FX income. On other hand, non-markup expense was up 30% YoY to Rs229bn in 3Q2023 due to higher admin expense which is in line with inflation.</li></ul><p><em>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.</em></p>

Pakistan listed banks profitability increased to record Rs163bn up 95% YoY in 3Q2023. This was primarily driven by significant jump in Net Interest Income (NII) amid high interest rates, and balance sheet growth. In US$ terms listed banks profit was also up 50% YoY to US$560mn in 3Q2023.NII of the sector clocked in at Rs481bn in 3Q2023 vs. Rs283bn in 3Q2022 up 70% YoY as average policy rates during 3Q2023 remained to 22% vs. 15% in 3Q2022. Interest income was up by 79% YoY to Rs1.6trn, whereas interest expense was up by 84% YoY to Rs1.1trn.Non-interest income of the sector was down by 5% YoY to Rs79bn in 3Q2023 mainly due to loss on securities and decline in FX income. On other hand, non-markup expense was up 30% YoY to Rs229bn in 3Q2023 due to higher admin expense which is in line with inflation.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.

Pakistan Banks: Listed Banks Earnings jump 95% YoY (50% YoY in US$) in 3Q2023