<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We estimate profitability of ISL coverage banks to decline by
~1%/14% YoY/QoQ. The decline is primarily attributable to
falling yield resulting in NIMs compression along with
moderation in capital gains. However, some respite is
expected from volumetric growth and heightened focus on
zero cost deposits. Moreover, we expect dividend payouts to
remain robust amid healthy profits and decent buffer on
adequacy ratios. We project HBL/UBL/MCB/MEBL/BAFL to
post EPS of PKR9.5/11.3/9.9/11.4/4.9, respectively. On
dividend payouts, we expect HBL/UBL/MCB/MEBL/BAFL to
announce DPS of PKR4.5/7.0/9.0/7.0/2.5, respectively.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The sector's net interest margins (NIMs...
