Author Topic: ABL -- Allied Bank Limited  (Read 96173 times)

0 Members and 1 Guest are viewing this topic.

Offline sumbul

  • Senior Member
  • *****
  • Posts: 1562
  • Thanks Received: 3
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #39 on: February 17, 2010, 04:47:08 PM »
Learner Bhai. What do you recommend about ABL. Hold ya Sell  :down:

Pakinvestorsguide

Re: ABL -- Allied Bank Limited
« Reply #39 on: February 17, 2010, 04:47:08 PM »

Offline Learner7

  • Senior Member
  • *****
  • Posts: 1147
  • Thanks Received: 5
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #40 on: February 17, 2010, 05:17:32 PM »
Learner Bhai. What do you recommend about ABL. Hold ya Sell  :down:

Bhai, it is going down with with volumes. My view it will trade at 63 - 64. EPS is ok, good.

 

Offline sumbul

  • Senior Member
  • *****
  • Posts: 1562
  • Thanks Received: 3
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #41 on: February 17, 2010, 05:19:30 PM »
Learner Bhai. What do you recommend about ABL. Hold ya Sell  :down:

Bhai, it is going down with with volumes. My view it will trade at 63 - 64. EPS is ok, good.
 

Then should I sell to avoid further loss? any chanes of reversal in near term

Offline Learner7

  • Senior Member
  • *****
  • Posts: 1147
  • Thanks Received: 5
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #42 on: February 17, 2010, 05:30:42 PM »

Then should I sell to avoid further loss? any chanes of reversal in near term

Result is announced, charm is over. it may take little rest now.

Now it will move with the main index and Next trigger may be Leverage product.

Offline Farzooq

  • Administrator
  • Senior Member
  • *****
  • Posts: 21907
  • Thanks Received: 196
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #43 on: February 18, 2010, 09:29:57 AM »
After tax profit of ABL increases to Rs 7.122 billion

RECORDER REPORT
KARACHI (February 18 2010): The profit after tax of Allied Bank Limited (ABL) has increased to Rs 7.122 billion in the year ended December 31, 2009 as compared to Rs 4.156 billion earned in the corresponding period in 2008. The bank's per share earning increased to Rs 10.02 in the period under review against Rs 5.85 in the same period a year back.

The board of directors of the bank, in its meeting held on Wednesday recommended a final cash dividend for the year at Rs 2.00 per share, ie, 20 percent. This is in addition to interim dividend already paid at Rs 2.00 per share, ie, 20 percent. The board also recommended issuing bonus shares, by utilising share premium account, in the proportion of one share for every ten shares held, ie, 10 percent.

According to the financial results, the bank's mark-up/return/interest income increased to Rs 41.121 billion in 2009 against Rs 30.570 billion earned in 2008. The bank's mark-up/return/interest expenses increased to Rs 22.421 billion in this period against Rs 17.272 billion. The bank's total non-mark-up/interest income increased to Rs 5.958 billion against Rs 4.896 billion. The before tax profit of the bank increased to Rs 10.536 billion in the year 2009 against Rs 6.120 billion recorded in the same period in 2008.
TOP PICKS
Engro efert ogdc ppl pso dgkc luck hubc ubl hbl atrl nrl nml efoods aicl hcar searl

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #44 on: February 23, 2010, 01:57:39 PM »
recommend a buy with a stop at 64 target 75 - comments?
DISCLAIMER: Caveat emptor.

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #45 on: March 12, 2010, 12:52:48 PM »
yaar someone tell abl that its undervalued and that it should go up  :down:

views on this script???
DISCLAIMER: Caveat emptor.

Offline ASIMS

  • New Member
  • *
  • Posts: 37
  • Thanks Received: 0
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #46 on: March 12, 2010, 02:18:46 PM »
yaar someone tell abl that its undervalued and that it should go up  :down:

views on this script???

dear ABL is definitely undervalued. its PER is the cheapest in big 5 banks. it should trade higher than UBL.. but im not sure it will go up or not..its target price stands at 80 according to its expected earnings..
anyways i sold my holdings at 67

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #47 on: March 12, 2010, 02:37:53 PM »
yaar someone tell abl that its undervalued and that it should go up  :down:

views on this script???

dear ABL is definitely undervalued. its PER is the cheapest in big 5 banks. it should trade higher than UBL.. but im not sure it will go up or not..its target price stands at 80 according to its expected earnings..
anyways i sold my holdings at 67

ive been trading my price down since it was at 65 (end feb) but i dont want to sell  :arrowhead:



do you think we're missing something?
DISCLAIMER: Caveat emptor.

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #48 on: March 24, 2010, 03:15:49 PM »
finally

abl looking like its on a break out if it close more then or equal to 58.75
DISCLAIMER: Caveat emptor.

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #49 on: March 24, 2010, 03:17:23 PM »
lock  :shoaby:
DISCLAIMER: Caveat emptor.

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #50 on: March 24, 2010, 05:36:07 PM »
yaar someone tell abl that its undervalued and that it should go up  :down:

views on this script???
dear ABL is definitely undervalued. its PER is the cheapest in big 5 banks. it should trade higher than UBL.. but im not sure it will go up or not..its target price stands at 80 according to its expected earnings..
anyways i sold my holdings at 67

FYI

i did some research and found that there is one major negative sitting against ABL, which might be the cause of it not catching up to the other big 5 and that i think is its exposure to MLCFs TFC where abl has a total exposure of Rs 3 Bln  :busted_blue:

even then i am still bullish on this script...
DISCLAIMER: Caveat emptor.

Offline Farzooq

  • Administrator
  • Senior Member
  • *****
  • Posts: 21907
  • Thanks Received: 196
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #51 on: April 06, 2010, 09:32:34 AM »
Bank: ALLIED BANK LIMITED - Financial Statement Analysis Financial Year 2004 - Financial Year 2009
OVERVIEW (April 05 2010): COMPANY PROFILE:Established in Lahore in 1942, Allied Bank Limited is one of the largest banks operating in Pakistan with 779 branches located in almost 300 cities and towns. The Bank offers a full range of retail, commercial and corporate banking services with a focus on service delivery through technology.

Additionally, it also provides general banking services to agricultural, industrial and individual customers throughout Pakistan. The Bank's fundamental strengths lie in its strong lending capability, as well as providing a variety of financial services, which has allowed ABL to diversify and enhance its deposit base.

The bank also conducts international operations in UK whereby it caters to the needs of the Bank's domestic corporate and other customers in financing import and export transactions. Here, ABL's products include foreign letters of credit, guarantees, remittances, acceptances and collections. The long term credit rating of the Bank as assigned by PACRA is AA and short term rating is A1+. Further ABL is the holding company of ABL Asset Management Company Limited.

INDUTRY REVIEW C YEAR 2009

During the period under review Banking Sector has shown signals of improvement and growth. The total asset base of the sector has increased from Rs 5,627 billion in CY08 to Rs 6,529 billion by the end of quarter December 09. The net investments of the sector have also shown improvement. They stood at Rs 1,753 billion on the quarter ended December 09, from levels of Rs 1,080 billion. Even the deposit base of the sector has shown improvement. They have increased from levels of Rs 4,217 billion in CY08 to Rs 4,787 billion in CY09.

============================================================================
TABLE 1.1: HIGHLIGHTS OF THE BANKING SYSTEM
============================================================================
                                                            (Billion Rupees)
----------------------------------------------------------------------------
                            CY04   CY05   CY06   CY07   CY08  Sep-09  Dec-09
----------------------------------------------------------------------------
Total Assets               3,043  3,650  4,353  5,172  5,627   6,105   6,529
Investments (net)            679    800    833  1,276  1,080   1,593   1,753
Advances (net)             1,574  1,991  2,428  2,688  3,183   3,119   3,248
Deposits                   2,393  2,832  3,255  3,854  4,217   4,483   4,787
Equity                       202    292    402    544    563     641     662
Profit Before Tax (PBT)       52     94    124    107     63      70      91
Profit After Tax (PAT)        35     63     84     73     43      42      54
Provisioning Charge           11     19     22     60    106      64      85
Non-Performing Loans         200    177    177    218    359     422     432
Non-Performing Loans (net)    59     41     39     30    109     128     125
============================================================================

Another major change that has been identified in the overall banking sector of Pakistan is change in the asset structure of the system. There has been a decline in the proportion of advances by the sector but a slight increase in the investments over the years. The private sector's low demand for bank credit has been reinforced by bank's risk aversion due to heightened credit risk. In this scenario the public sector has emerged as a major consumer of bank credit.

2009 was an extraordinary year for the global economy and the financial markets. Impact of the financial crisis was reflected in the performance of the real economy. Although Pakistan did not have a direct impact of the global financial crisis, but law and order, slow economic growth and lack of political stability had a lot of stress on many industries and in turn the financial sector. Industry wide NPLS were on the rise. The NPLs have increased from Rs 109 billion in CY08 to Rs 125 billion by the quarter ended December 09.The reason for this growth has been the increase in the loans classified under the loss category which required the full provisioning coverage, and so banks set aside relatively higher amount of provisions.

During the year under review, SBP changed the policy discount rate thrice; it reduced it by 100 bps each time- in April 2009, August 2009 and by 50 bps in November 2009.

FINANCIAL PERFORMANCE OF ABL:

During the year ended FY09, the profitability of Allied Bank Limited has improved. The bank posted a profit after tax of Rs 7,122 million as compared to Rs 4,157 of FY08, showing a growth of 71%. This improvement in the profits of the bank also translated into the improvement in the ROA and ROE of ABL. The ROA in FY09 rose to 1.81% as compared t0 1.21% of FY08. Also the ROE increased tremendously by 43.86% in FY09 to reach 30.5% as compared to 21.2% in FY08.

The net interest income of the bank increased by 40.6% to Rs 18,700 million in FY09 as compared to Rs 13,298 million in FY08. The non interest income also increased by 21.7% in FY09 to reach a level of Rs 5,958 million. The gross income to expense ratio has improved to 2.57 times during the year under review from 2.04 times in FY08. The markup earned on loans has increased from Rs 21,942 million in FY08 to Rs 30,142 million in FY09, whereas that earned on investments has also increased from Rs 6,618 million in FY08 to Rs 8,624 million in FY09. On the non interest income side, the income from fee, commission and brokerage has increased from Rs 2,307 million in FY08 to Rs 2,708 million in FY09. The interest income expensed by the bank has also increased mainly on deposits and call money borrowing. The overall interest income expensed has increased from Rs 17,272 million in FY08 to Rs 22,421 million in FY09. The major interest expense is that incurred in deposits which have increased from Rs 13,978 million in FY08, to Rs 17,946 million in FY09. Also the interest expensed in call money borrowings has increased from Rs 790 million in FY08 to Rs 1,158 million in FY09 showing an increase of 47%.

The net interest income of the bank increased mainly due to the growth in average earning assets and improvement in deposit mix towards low cost core deposits.

The asset base of ABL has increased. The total assets of the company have increased to Rs 418,374 million in FY09 as compared to Rs 366,696 million in FY08. There has been an increase in the gross advances by the bank. The gross advances have increased from Rs 223,640 million to Rs 249,987 million in FY09. The loans in Pakistan have increased from Rs 215,733 million in FY08 to Rs 243,166 million in FY09. The net investments in finance leases in Pakistan have also increased from Rs 768 million in FY08 to Rs 847 million in FY09. Even the gross investments of the bank have increased. In commercial and retail banking steps were taken to enhance focus on SME's, commercial and agricultural sectors with a view to diversify and increase its share in total loan book of the Bank. A team of well experienced agricultural credit officers were hired to further penetrate into the agricultural sector.

Another major component of the assets of the bank is the investments. The gross investments by the bank have increased from levels of Rs 84,602 million in FY08 to Rs 96,975 million in FY09. The investments on an average basis grew by 12.4%compared to 2008. Bank decided to revisit its investment portfolio with a view to rationalize exposure in certain segments with the intention to deploy resources into other profitable avenues. In this regard the exposure in open end mutual funds has been reduced from Rs 12,761 million (14.7% of total investments) in FY08 to Rs 4,348 million (4.6% of total investments) in FY09. The exposure in TFCs has increased by 98.4% to Rs 36,312 million (38.1% of total investments) inFY09 compared to Rs 18,302 million (21.1% of total investments) FY08.This was mainly due to reclassification of Bank's existing lending exposure as an outcome to adjust the circular debt. The Bank's Sukuk Portfolio includes exposure of Rs 3,190 million to Maple Leaf Cement Factory Limited.

A major concern on ABL's balance sheet has been the increase in the Non Performing Loans. The loans have increased to Rs 16,281million FY09 as against Rs 13,772 million FY08, thus showing a net increase of Rs 2,509 million. The infection ratio of 6.5% in FY09 was slightly above 6.2% of the previous year; whereas coverage ratio remained at previous year's level of 77%. The bank has accounted for a provision of Rs 3,163 million against NPLs during the year under review. No benefit of FSV has been taken while determining the provision against NPLs as allowed under BSD Circular No. 10 of 2009 dated October 20, 2009.

The deposit base of the bank has also increased. The deposits of the bank have increased from Rs 297,475 million in FY08 to Rs 328,875 million in FY09. During the year stable and low cost deposits remained the major focus of the business strategy. In order to accomplish the desired goal, new branches and existing branches are being built or renovated to improve the ambience. Service standards are being improved. Services like internet banking and online transfers are being launched to attract additional deposits. The bank has been able to restrict the cost of deposits to 6.1% in FY09 as against 5.1% during FY08.

The debt ratios of the bank have declined, indicating increasing equity portion of the bank's assets. Generally, this has been the trend in the entire banking industry perhaps due to higher interest rates resulting in higher cost of borrowings and the MCR requirements as proposed by the State Bank. The equity of the bank has increased from Rs 344349 million in FY08 to Rs 388414 million in Fy09. The debt to asset ratio has declined from 0.98 in FY04 to 0.93 in FY09. The debt to equity ratio has declined from 41.82 in FY04 to 12.96 in FY09. Also the deposits times' capital has decreased from 37.91 in FY04 to 10.98 in FY09.

The liquidity position of the bank looks favorable. The ratio of earning assets to assets of the bank has remained almost consistent around 85%. The ratio of advances to deposits has increased from levels of 41% in FY 04 to 64% in FY07 to 72% in FY09. The yield on earning assets has improved. The yield has increased from 5% in FY04 to 11% in FY09. The reason for these increases has been an increase in the interest income earned on advances, investments and lending to the financial institutions.

The solvency ratios of the bank have persistently shown an upward trend throughout 2004-2009. This indicates bright prospects of long-term sustainability of the bank. The solvency ratios of the bank for the last five years have been maintained in the vicinity of each other. The increasing equity portion of the bank explains this. This may be regarded as a move against the rise in deposits rates and a decrease in the banking spread of the banking sector. This healthy trend in solvency may be predicted to continue in the future.

During FY09the bank gave a dividend of Rs 4/ share on cash basis and proposed 1 bonus issue per share as compared to Rs 2.5/ share in Fy08 along with 1 bonus issue per share. The payout ratio has however declined from 66% in FY07 to 54% in FY08 to 50% inFY09. The EPS of the share has increased to RS 10.02 in FY09 as compared to Rs 5.85/ share in FY08. The following graph depicts the trend related to DPS and EPS of ABL

During the FY09 the price of ABL'stock has shown a fluctuating trend. The P/E ratio declined in FY08 to 4.9 from level of 17.2 in FY07. However it has improved to 5.9 in Fy09. The market value to book value ratio has also been declining. The ratio declined from 3.09 in FY07 to 1.01 in FY09.

A comparison of the stock price and the KSE 100 Index for the year FY09 for the stock shows that the price has moved in almost the same fashion as the index. The highest price reached by the stock was Rs 66.3 and the lowest price was Rs 19.85 during FY09.

COMPARISON WITH THE TOP PLAYERS

The banking sector is dominated by National Bank Limited, Allied Bank Limited, Habib Bank Limited, United Bank Limited and Muslim Commercial Bank. The following graph indicates the trend of growth of deposits for the players.

As can be witnessed from the above graph that the deposit growth rate has been fluctuating over the last 5 years. A major decline was seen in the growth of deposits for ABL in 2008, when it fell from 28% to 13%. The reason cited for this slowdown was the slow growth of M2

The advance growth rate for the top players has shown a similar trend, all the fluctuations for all the banks have been witnessed in the same direction. As can be observed ABL's performance in terms of advances growth rate has been better from the top players during the last 5 years. The advances of ABL grew by 11% in FY09 as compared to 5.58% of NBP and -4% of UBL and MCB each during the year under review.

Another major trend seen in the banking sector has been the growth in profits after tax for the top players. It can be clearly seen that the growth in PAT of ABL has been much above the other top players. During FY09 there was a growth of 71% in ABL's PAT, as compared to 14% of UBL and 2% of MCB.

Another major comparison between ABL and the other top players is that in the growth of the net interest income. Even in this area ABL has outperformed other major players. The growth in the net interest income is 41% in FY09 as compared to 18% of UBL, 16% of MCB and 3% of NBP.

In case of the non interest income, the growth for ABL has been in line with that of its peer except for NBP whose growth though has fluctuated but still is above the other players in the market. The growth in non interest income for ABL in FY09 is around 22%, as compared to 45% of NBP.

FUTURE OUTLOOK

The recent economic trends suggest the possibility of a modest recovery during 2010. The major impetus for growth is expected to come from the services sector, while LSM has also lately shown signs of recovery. The positive improvement in macroeconomic indicators, mainly inflation and contraction in external imbalances bodes well for the revival of economic activity. However, risks to these improvements remains as inflationary pressures have not completely abated, the commodity prices may spur again to unmanageable levels and foreign inflows (for instance from FoDP and other bilateral arrangements) may not materialize on time. Meanwhile, the severe energy shortages and the sensitive security situation remain a major threat to the potential output of the economy. The rising fiscal slippages, deficit of 1.5% of GDP for Q1-FY10 as compared to 1.1% in Q1-FY09 poses another challenge. A sizeable portion of it also relates to increasing expenditure on defense and security. The continuing pressure in the operation environment suggests that the challenges for the banking sector would persist in 2010. ABL, while remaining prudent under the circumstances would continue to emphasize on improving cost effective deposit mix, building risk weighted assets by ensuring quality and optimizing costs to pursue the strategy of maintaining steady growth.

==================================================================================================
ALLIED BANK LIMITED
==================================================================================================
                                  2004        2005        2006        2007        2008        2009
==================================================================================================
EARNINGS RATIOS
--------------------------------------------------------------------------------------------------
Return on Assets (%)              0.1%        1.8%        2.0%        1.4%        1.2%       1.81%
Return on Deposits (%}            0.1%        2.1%        2.4%        1.7%        1.5%        2.3%
Return on Equity (%)              8.0%       28.0%       30.0%       23.5%       21.2%       30.5%
--------------------------------------------------------------------------------------------------
ASSETS QUALITY RATIOS
--------------------------------------------------------------------------------------------------
NPL to Advances                    26%         11%          7%          7%          6%          7%
Provisions to NPLs                 10%          3%          6%         24%         10%         19%
Non Performing Loans        15.383.000  12.699.000  10.479.000  11.355.000  13.772.000  16.281.000
NPLs Growth                          -        -17%        -17%          8%         21%         18%
--------------------------------------------------------------------------------------------------
MARKET VALUE RATIOS
--------------------------------------------------------------------------------------------------
Price to Earnings                 0.00       12.56        9.54       17.20        4.90         5.9
Market Value to Book Value        0.00        2.92        2.37        3.09        2.89        1.01
--------------------------------------------------------------------------------------------------
DEBT MANAGEMENT RATIOS
--------------------------------------------------------------------------------------------------
Debt to equity                   41.82       13.83       13.46       15.10       15.40       12.96

Deposit times capital            37.91       12.34       11.98       13.28       13.31       10.98
Debt to asset                     0.98        0.93        0.93        0.94        0.94        0.93
--------------------------------------------------------------------------------------------------
LIQUIDITY RATIOS
--------------------------------------------------------------------------------------------------
Earning assets to assets           84%         85%         84%         85%         85%         86%
Advance to deposit                 41%         59%         69%         64%         72%         72%
Yield on earning assets             5%          7%          9%          8%         10%         11%
Cost of funding earning assets      1%          1%          4%          4%          5%          6%
--------------------------------------------------------------------------------------------------
SOLVENCY RATIOS
--------------------------------------------------------------------------------------------------
Equity to assets (%)                2%          7%          7%          6%          6%          7%
Equity to deposits (%)            2.64        8.10        8.35        7.53        7.52       9.110
Earning assets to deposits (%)   95.17      101.91      100.99      102.58      104.66      109.54
--------------------------------------------------------------------------------------------------
DIVIDEND PAYOUT RATIOS
-----------------------------------------------------------------------------------C---------------
Dividend yield                       -       2.90%       2.70%       2.30%        8.0%       6.80%
Dividend cover                       -        2.76        2.18       1.402       3.214       2.505
--------------------------------------------------------------------------------------------------
GROWTH RATES
--------------------------------------------------------------------------------------------------
Profits After Tax                    -           -         42%         -7%          2%         71%
Advances                             -         87%         30%         17%         26%         11%
Deposits                             -         28%         28%         28%         13%         11%
Investments                          -        -22%          5%         79%         -2%         15%
==================================================================================================
COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi
TOP PICKS
Engro efert ogdc ppl pso dgkc luck hubc ubl hbl atrl nrl nml efoods aicl hcar searl

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #52 on: April 07, 2010, 05:29:31 PM »
finally

abl looking like its on a break out if it close more then or equal to 58.75

 :fingerscrossed1: :biggrin: :fingerscrossed1:
DISCLAIMER: Caveat emptor.

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #53 on: April 09, 2010, 03:55:46 PM »
finally

abl looking like its on a break out if it close more then or equal to 58.75

 :fingerscrossed1: :biggrin: :fingerscrossed1:

target = 67-68
DISCLAIMER: Caveat emptor.

Offline sumbul

  • Senior Member
  • *****
  • Posts: 1562
  • Thanks Received: 3
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #54 on: April 16, 2010, 12:03:46 PM »
finally

abl looking like its on a break out if it close more then or equal to 58.75

 :fingerscrossed1: :biggrin: :fingerscrossed1:

target = 67-68

BUY TARGET 66-69  :biggthumpup:

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #55 on: April 16, 2010, 03:42:58 PM »
finally

abl looking like its on a break out if it close more then or equal to 58.75

 :fingerscrossed1: :biggrin: :fingerscrossed1:

target = 67-68

BUY TARGET 66-69  :biggthumpup:


 :biggrin:
DISCLAIMER: Caveat emptor.

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #56 on: April 21, 2010, 01:55:57 PM »
booked 25% to switch over to nrl and pso
« Last Edit: April 21, 2010, 01:57:45 PM by ihashishin »
DISCLAIMER: Caveat emptor.

Offline ihashishin

  • Senior Member
  • *****
  • Posts: 1531
  • Thanks Received: 22
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #57 on: April 23, 2010, 02:10:10 PM »
inshallah expected EPS

JS=2.56
IGI=2.35


HOLD
DISCLAIMER: Caveat emptor.

Offline Farzooq

  • Administrator
  • Senior Member
  • *****
  • Posts: 21907
  • Thanks Received: 196
    • View Profile
Re: ABL -- Allied Bank Limited
« Reply #58 on: April 26, 2010, 10:20:55 AM »
eps 2.27
TOP PICKS
Engro efert ogdc ppl pso dgkc luck hubc ubl hbl atrl nrl nml efoods aicl hcar searl

Tags: Afzal Tahir ABL