Author Topic: ABL -- Allied Bank Limited  (Read 48686 times)

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Offline Admin

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ABL -- Allied Bank Limited
« Reply #-1 on: October 24, 2009, 12:53:46 PM »
All About Allied Bank
« Last Edit: January 31, 2012, 09:25:48 AM by M&M »

Pakinvestorsguide

ABL -- Allied Bank Limited
« Reply #-1 on: October 24, 2009, 12:53:46 PM »

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Re: ABL -- Allied Bank Limited
« on: October 24, 2009, 12:53:56 PM »
ABL to post EPS of PRs6.66 in 9M2009
During 9M2009, ABL’s net income is expected to arrive at PRs4.7bn (EPS
PRs6.66) or 27% higher as against PRs3.7bn (EPS PRs5.26) in the same period of
last year. In 3Q2009, the bank’s earnings is expected at PRs1.7bn (EPS PRs2.35)
– a significant increase of 36% Y-o-Y and 4% on Q-o-Q basis. Significant expected
growth in the bank’s Net Interest Income (NII) to partially support its bottomline.
NII is expected to jump by 38% to PRs13.6bn in the wake of higher margins. In
addition to this, non interest income is also expected to depict a massive growth
of 81% to PRs5.2bn mainly due to higher expected fee & commission income and
gain on sale of investment. However, impressive income growth is to partly offset
in the wake of 10-fold higher credit provisions at PRs3.1bn in 9M2009 versus
only PRs315mn in the same period of last year. Moreover, admin expenses are
also expected to increase by 25% to PRs7.1bn. Our fair value for the scrip is
PRs58/share and ‘Buy’ is recommended at the current trading levels.

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Re: ABL -- Allied Bank Limited
« Reply #1 on: October 26, 2009, 01:53:36 PM »
26-OCT-09 ABL Allied Bank Ltd. FINANCIAL RESULT FOR THE NINE MONTHS ENDED 30/09/2009
26-OCT-09 ABL Allied Bank Ltd. (CONSOLIDATED) PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 7,492.364
26-OCT-09 ABL Allied Bank Ltd. (CONSOLIDATED) PROFIT/LOSS AFTER TAXATION RS. IN MILLION 5,027.392
26-OCT-09 ABL Allied Bank Ltd. EPS = 7.07
26-OCT-09 ABL Allied Bank Ltd. FINANCIAL RESULT FOR THE NINE MONTHS ENDED 30/09/2009
26-OCT-09 ABL Allied Bank Ltd. (UNCONSOLIDATED) PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 7,475.559
26-OCT-09 ABL Allied Bank Ltd. (UNCONSOLIDATED) PROFIT/LOSS AFTER TAXATION RS. IN MILLION 2,462.231

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Re: ABL -- Allied Bank Limited
« Reply #2 on: December 02, 2009, 12:52:43 PM »
After credit suise reoprt on ABL,AKD also has initiated coverage on ABL with buy rating for a target price of PKR 80

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Re: ABL -- Allied Bank Limited
« Reply #3 on: December 03, 2009, 09:27:44 AM »
After credit suise reoprt on ABL,AKD also has initiated coverage on ABL with buy rating for a target price of PKR 80

ABL: Standing out of the crowd

We initiate coverage of Allied Bank Limited (ABL), the fifth largest commercial bank in Pakistan in terms of asset base, with a Buy rating and a target price of PkR80/share (22.3% upside). We believe the bank is well positioned to leverage the ongoing U-shaped domestic economic recovery. ABL's earnings have increased by 35%YoY in 9MCY09, in sharp contrast to a decline of 3%YoY posted by the sector. As a result, ABL has outperformed the banking sector by 55%CYTD. We base our expectations of further price performance on our forecasted 3-year (CY08-CY11F) EPS CAGR of 25%, the highest within the AKD Banking Universe.

In our view, this growth will be driven by: 1) strong domestic corporate linkages and low asset quality drag, 2) likely effective entry in higher-yielding segments, 3) deposit restructuring leading to limited NIM erosion and 4) consistently increasing cost efficiencies. ABL is trading at a CY10F Tier-I P/B multiple of 1.43x and a PER of 7.24x. Our target price of PkR80/share implies upside of 22.3% from current levels. Buy!

Offline Farzooq

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Re: ABL -- Allied Bank Limited
« Reply #4 on: December 13, 2009, 11:04:07 PM »
Biggest robbery in Karachi; Rs52 mln looted

    Updated at: 2200 PST, Sunday, December 13, 2009 
    KARACHI: The biggest robbery of the country’s history of Rs520 million has been carried out in the metropolitan city of Karachi by breaking into the lockers of a private bank.

The looted money comprises local and foreign currencies. A bag containing 40,000 British pounds has been recovered from a police official’s house. The family members of the police official had left the bag home which contained foreign currency.

According to police, the bank guards are involved in the bank robbery while raids are being carried out to arrest the other robbers.

Police has also taken into custody two bank guards and recovered Rs5 million.

The police have claimed to have learned about the whereabouts of the guard mainly involved in the robbery. He has been identified as Shahid Mehmood son of Abdul Majeed, holding NIC issued in Faisalabad.

Police have announced a reward of Rs2 million for information leading to the capture of the guard.
       


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Toshi

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Re: ABL -- Allied Bank Limited
« Reply #5 on: December 15, 2009, 09:32:57 AM »
Customers reassured: full insurance coverage of cash balances: ABL

KARACHI (December 15 2009): Allied Bank has reassured its customers that there was no reason for them to worry about their deposits and lockers, following a robbery at its Foreign Exchange Branch, in Karachi on Sunday. The bank follows robust security procedures and has full insurance coverage of its cash balances", an ABL spokesman said, adding that all the customer-related record including lockers are absolutely safe and secure.

The I.I. Chundrigar Road branch is providing services to its valued clients without any interruptions and is doing business as usual, said the spokesman. ABL senior executive Tariq Mahmood, Group Chief, Operations, Aun Ali, Group Head South; Mirza Anwar Hussain, Head Branch Operations South, GM Geddy, Regional Head, City Region and Abdul Hafeez Butt, Group Head of Branch Banking Operations reached the Foreign Exchange branch as soon as they received the news of the break and remained there till late in the night facilitating the DIG Police, Karachi South, Ghulam Nabi Memon.

To a query, the spokesman said that CCTV cameras installed at all Allied Bank branches are of high quality and in compliance with the State Bank requirements, while same technology is also being used by other leading banks. However, the burglars had disabled the CCTV cameras as well as all the other security equipment such as the alarm system, prior to breaking open one of its nine safes, he pointed out.

According to the official version of the bank, Shahid Mahmood, a security guard posted at the branch, over powered the security personnel present at the branch with the help of four unknown accomplices on Sunday morning. They broke into the double-vault strong room with the help of gas cutters after disabling the smoke detectors, fire alarm system and CCTV cameras. One out of the nine safes was broken with the help of a gas cutter.

The culprits took away foreign exchange worth over Rs 312 million including Pak currency notes worth Rs 28,000. Currency notes of Rupees 685,000 were also found burnt/damaged. The spokesman said two of the suspects, Imran and Zamir Hussain, both security guards posted at the said branch, have been under arrest while the prime suspect Shahid Mahmood, along with other four unknown companions, is absconding. Police investigations are underway and further updates will be provided to the media as soon as available, concluded the spokesman.-PR

Toshi

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Re: ABL -- Allied Bank Limited
« Reply #6 on: December 31, 2009, 06:48:08 AM »
Buy ABL with stoploss 58.trend is bullish

Toshi

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Re: ABL -- Allied Bank Limited
« Reply #7 on: December 31, 2009, 09:50:58 AM »
Bought some ABL @ Rs. 60

Toshi

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Re: ABL -- Allied Bank Limited
« Reply #8 on: January 06, 2010, 03:47:45 AM »
Buy ABL with stop below 58 trend is bullish

Toshi

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Re: ABL -- Allied Bank Limited
« Reply #9 on: January 06, 2010, 01:47:28 PM »
Buy ABL with stop below 58 trend is bullish

ABL going well today.

Offline ihashishin

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Re: ABL -- Allied Bank Limited
« Reply #10 on: January 13, 2010, 12:54:16 PM »
taking a position, comments?
DISCLAIMER: Caveat emptor.

Toshi

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Re: ABL -- Allied Bank Limited
« Reply #11 on: January 13, 2010, 01:14:01 PM »
taking a position, comments?

looking good , :goodl:

Offline abcd

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Re: ABL -- Allied Bank Limited
« Reply #12 on: January 13, 2010, 03:15:59 PM »
Stock trading is a science and art too

Toshi

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Re: ABL -- Allied Bank Limited
« Reply #13 on: January 17, 2010, 01:55:12 AM »
ABL – Lowering risks:  

Recent increase in cement prices by PkR10- PkR12/bag alleviates concerns regarding the cement sector, notwithstanding
need for further price increases going forward. This is particularly beneficial
for ABL considering its above average (~6% of loans) exposure to the
cement sector. Further triggers include 1) potential booking of FSV reversals
(non availed so far) and 2) continuation of good capital gains track record.The
scrip offers an upside of 28.1% to our target price of PkR80.0 /share. Buy!

Offline abcd

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Re: ABL -- Allied Bank Limited
« Reply #14 on: January 17, 2010, 02:33:02 PM »
my top pick amongst banks
Stock trading is a science and art too

Offline ihashishin

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Re: ABL -- Allied Bank Limited
« Reply #15 on: January 21, 2010, 01:45:57 PM »
i got stopped out at 64, should i buy it back?
DISCLAIMER: Caveat emptor.

Offline ihashishin

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Re: ABL -- Allied Bank Limited
« Reply #16 on: January 21, 2010, 02:18:53 PM »
 :(

i think i made a mistake by expecting/waiting for 62
DISCLAIMER: Caveat emptor.

Offline Learner7

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Re: ABL -- Allied Bank Limited
« Reply #17 on: January 21, 2010, 02:24:29 PM »
:(

i think i made a mistake by expecting/waiting for 62


You will get that level, have patience.

Offline abcd

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Re: ABL -- Allied Bank Limited
« Reply #18 on: January 21, 2010, 11:31:54 PM »
Strong buy
Stock trading is a science and art too

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