External broker reports(aggregated public sources), Topline Securities

Topline Securities

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.

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

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<li>As per our channel checks and media reports, Supreme Court (SC) has asked the big 4 private Banks (HBL, UBL, MCB and ABL) to increase monthly pensions of the pensioners to Rs8,000/month with an annual increase of 5%. We await further details on the same however as per our initial impression, this could have an earnings impact of Rs1-4/sh, which is lower than market expectations. Further, this is only applicable for future pension obligations.</li>
<li>To recall, SC had recently taken Suo Motu notice of…</li>
</ul>


As per our channel checks and media reports, Supreme Court (SC) has asked the big 4 private Banks (HBL, UBL, MCB and ABL) to increase monthly pensions of the pensioners to Rs8,000/month with an annual increase of 5%. We await further details on the same however as per our initial impression, this could have an earnings impact of Rs1-4/sh, which is lower than market expectations. Further, this is only applicable for future pension obligations.
To recall, SC had recently taken Suo Motu notice of…


Pakistan Banks: Pension Case Impact Lower than Expectation