Allied Bank Limited (ABL): Earnings below expectations on lower than anticipated core income – By AKD Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Allied Bank Limited (ABL) announced its 1HCY22 results today where the bank reported consolidated NPAT of PkR6.8bn (EPS: PkR5.96) compared to PkR8.9bn (EPS: PkR7.75) in the same period last year. The result came in below our expectations as bank&rsquo;s Funded Income missed our target. Along with the result, ABL announced a DPS of PkR2.0 which took the cumulative payout during 1HCY22 to PkR4.0/sh. Here are key takeaways from the result.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Bank&rsquo;s core income increased by 19.5%YoY during the period under review. The growth came in lower than what we had anticipated and what the general trend of growth had been in the industry so far and was the pri...