<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">In our today's morning report we would discuss the performance of Habib Bank Limited (HBL) in 1QCY18.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The beginning of CY18 remained disappointing for HBL as its profit after taxation (PAT) decreased by 51% YoY in 1QCY18 to Rs 3.95 billion (EPS: Rs 2.7) as against a PAT of Rs 8.11 billion (EPS: Rs 5.54) in 1QCY17. This decline in earning is owing to one-off revision in pension costs, the impact of the March Rupee devaluation on overseas borrowings, and legal, regulatory and remediation costs related to New York. In addition, with the accelerated shrinkage in the international balance sheet over the last few months, revenue reduction has outpaced cost rationalization, with ...
