<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We preview 4QCY22 results for Pakistan banks under our
coverage, where we expect Net Interest Income (NII) to remain steady. On the
non-interest income front, we expect Fee Income to jump in 4Q, however expect
the pace of growth to decline.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Cost to Income ratio may sequentially expand over
inflationary pressure on operating expenses. Additionally, we anticipate the
industry will once again increase General Provisions while taking advantage of
improved profitability.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">As a result, profit expansion trend may discontinue for some
banks, while the growth pace ...
