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)

Pakistan Banks / Thematic (Sector/Industry)

<ul><li>Topline Banking Universe is likely to post an earnings growth of 72% YoY in 4Q2023, primarily driven by higher Net Interest Income (NII).</li><li>NII of the banks in the Universe is likely to increase by 61% YoY to Rs324bn in 4Q2023 on the back of rise in asset yields. 6M Kibor/T-Bill /PIB rates have increased to 21.88%/21.68%/17.26% respectively (up around 300-550bps on YoY basis) in 4Q2023.</li><li>Despite no hike in interest rates on a QoQ basis, NII is expected to increase by 16% QoQ, primarily attributed to the repricing of assets which comes with a time lag.</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>

Topline Banking Universe is likely to post an earnings growth of 72% YoY in 4Q2023, primarily driven by higher Net Interest Income (NII).NII of the banks in the Universe is likely to increase by 61% YoY to Rs324bn in 4Q2023 on the back of rise in asset yields. 6M Kibor/T-Bill /PIB rates have increased to 21.88%/21.68%/17.26% respectively (up around 300-550bps on YoY basis) in 4Q2023.Despite no hike in interest rates on a QoQ basis, NII is expected to increase by 16% QoQ, primarily attributed to the repricing of assets which comes with a time lag.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: Topline Universe Banks Earnings Expected to Increase 72% YoY in 4Q2023