Author Topic: FABL -- Faysal Bank Limited  (Read 39683 times)

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FABL -- Faysal Bank Limited
« Reply #-1 on: October 28, 2009, 11:14:57 AM »
All About faysal bank limited
« Last Edit: January 28, 2012, 11:16:03 AM by M&M »

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FABL -- Faysal Bank Limited
« Reply #-1 on: October 28, 2009, 11:14:57 AM »

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Re: FABL -- Faysal Bank Limited
« on: October 28, 2009, 11:15:09 AM »
FABL to post PAT of Rs1,038mn (EPS of Rs1.7) in 9MCY09- 'Hold'

The topline of the bank is expected to grow by 3% YoY in 9MCY09. Asset growth is expected to remain tilted towards investment, which is also expected to help maintain interest income growth. 49% YoY increase in bad debt provisions would remain the major factor in lowering profitability resulting in core int. income to decline by 6% YoY. However, improving fee and commission income and growing trading income through equity portfolio of above Rs4bn coupled with dividend income of Rs3.25/unit from NIT would shore up non interest income. PAT is expected to declined by 42% YoY in 9MCY09. Considering present PBV multiple of 0.92 and our TP of Rs17.21/sh, we recommend 'Hold' on the scrip.   

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Re: FABL -- Faysal Bank Limited
« Reply #1 on: October 28, 2009, 11:15:50 AM »
28-OCT-09 FABL Faysal Bank Ltd. FINANCIAL RESULT FOR THE THIRD QUARTER ENDED 30/09/2009
28-OCT-09 FABL Faysal Bank Ltd. PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 1,505.307
28-OCT-09 FABL Faysal Bank Ltd. PROFIT/LOSS AFTER TAXATION RS. IN MILLION 918.421
28-OCT-09 FABL Faysal Bank Ltd. EPS = 1.51

Offline mian saeed

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Re: FABL -- Faysal Bank Limited
« Reply #2 on: October 28, 2009, 03:12:54 PM »
Farzooq Sb, why it is on lower lock??? is the result not good??

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Re: FABL -- Faysal Bank Limited
« Reply #3 on: October 28, 2009, 03:20:19 PM »
Farzooq Sb, why it is on lower lock??? is the result not good??

below expectations

Offline mian saeed

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Re: FABL -- Faysal Bank Limited
« Reply #4 on: October 28, 2009, 03:25:37 PM »
Thanks for quick reply :), any expected target price for Feb 2010 ?

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Re: FABL -- Faysal Bank Limited
« Reply #5 on: October 28, 2009, 03:41:02 PM »
Thanks for quick reply :), any expected target price for Feb 2010 ?

result expectations were around 2 for 9 months
any target will be set on break of 18 with volumes

Offline mian saeed

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Re: FABL -- Faysal Bank Limited
« Reply #6 on: October 28, 2009, 07:53:51 PM »
OK ;D

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Re: FABL -- Faysal Bank Limited
« Reply #7 on: November 06, 2009, 02:44:33 PM »
Recommendation: ‘Hold’ at current levels
Nine month results of FABL remained significantly below our
expectations, most notably the earnings from core operations
remained largely subdued. Though the bank would recognize
the remainder of the FSV benefit after a thorough review of
the industrial collateral, we do not foresee any major
improvement in the interest income scenario. As a result, we
have lowered our full year 2009 EPS estimates for the bank to
Rs2.1 as against Rs2.7 earlier. Trading at 2009E PE and PBV
of 7.2x and 0.7x respectively, we maintain our ‘Hold’ stance

Offline mian saeed

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Re: FABL -- Faysal Bank Limited
« Reply #8 on: November 06, 2009, 09:06:04 PM »
but FABL is GREEN in such a RED market???

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Re: FABL -- Faysal Bank Limited
« Reply #9 on: December 16, 2009, 05:45:04 PM »
NIT LOC fund redemption rumours and its impact
JS Research

There have been rumours surfacing in the market that NIT LOC units may be redeemed by the unit holders
if GOP does not issue any further Letter of Comfort beyond Dec 31, 2009. Resultantly, NIT LOC fund
would seize to exist and instead of cash payments on redemption, the unit holders would be provided a
proportionate share of equities in the NIT LOC portfolio. The size of the NIT LOC fund as of Sep 30, 2009
is Rs28bn, with major unit holders being NBP (333mn unit), FABL (150mn) and BOP (190mn) units
respectively.

FABL: EPS impact of Rs3.4

With a cost per unit of Rs13.7, the estimated capital gain on redemption amounts to Rs2.6bn translating
into an EPS impact Rs3.4.

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Re: FABL -- Faysal Bank Limited
« Reply #10 on: January 26, 2010, 11:58:15 AM »
fabl interested in buying rbs 

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Re: FABL -- Faysal Bank Limited
« Reply #11 on: January 27, 2010, 09:05:35 AM »
Faysal Bank intends to buy RBS

RECORDER REPORT
KARACHI (January 27 2010): Faysal Bank Limited has expressed interest to acquire The Royal Bank of Scotland (RBS) Pakistan. The Faysal Bank on Tuesday notified the Karachi Stock Exchange (KSE) that the board of directors of FBL has given in-principle approval to evaluate the information that will be provided by RBS in relation to the sale of RBS Pakistan, and participate in the sale process identified by RBS in this regard.

The decision was taken pursuant to the announcement of The Royal Bank of Scotland plc (RBS), that it has resolved to divest its interest from its operations in certain business in the Asian region, which includes all assets and undertakings of the RBS Pakistan. Accordingly, FBL will be seeking the approval of the State Bank of Pakistan to proceed with due diligence of RBS Pakistan when RBS submits the requisite application to the SBP in this regard.


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Re: FABL -- Faysal Bank Limited
« Reply #12 on: January 27, 2010, 09:25:35 AM »
FABL expresses interest in operations of RBS Pakistan

January 26, 2010 (JS Research Beep)

Today Faysal Bank has expressed interest in acquiring the local operations of RBS after approval for due diligence by the bank’s board of directors. Previously MCB had agreed to acquire the operations for a consideration of US$87mn, however the deal didn’t go through after MCB failed to receive approval from the regulator. Assuming the fact that FABL successfully bids for the bank at US$87mn, which as of Sep accounts would mean a PB multiple of 0.85x – FABL’s book value would increase from the current Rs20.9/share to Rs22.9/ share. Total Assets post acquisition would rise to Rs255bn, while total deposits and advances would rise to Rs182bn and Rs145bn respectively. This would result in the bank leapfrogging Habib Metro and Bank Al Habib to the ninth largest based on assets and deposits. On the basis of its loan book, the bank would become the seventh largest in the country.

 We currently have a ‘Hold’ stance on the bank with a full year 2009 EPS expectation of Rs2.1/share. The scrip is currently trading at a 2010E PE and PBV of 7.6x and 0.7x.

Offline saba malik

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Re: FABL -- Faysal Bank Limited
« Reply #13 on: January 27, 2010, 12:00:18 PM »
Lock is opened I think one can take an entry here

Offline chaudhary111

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Re: FABL -- Faysal Bank Limited
« Reply #14 on: January 27, 2010, 12:55:12 PM »
Lock is opened I think one can take an entry here
Should we buy at current Lavel?  ::)

Offline saba malik

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Re: FABL -- Faysal Bank Limited
« Reply #15 on: January 27, 2010, 12:55:49 PM »
I think Yes

Offline chaudhary111

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Re: FABL -- Faysal Bank Limited
« Reply #16 on: January 27, 2010, 01:10:37 PM »
Lock is opened I think one can take an entry here
     Should we take entry at current lavel?

Offline saba malik

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Re: FABL -- Faysal Bank Limited
« Reply #17 on: January 27, 2010, 01:13:53 PM »
Lock is opened I think one can take an entry here
     Should we take entry at current lavel?

Yes lay laini chaheay I have already bought a little chunk lets c now

Offline chaudhary111

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Re: FABL -- Faysal Bank Limited
« Reply #18 on: January 27, 2010, 01:24:01 PM »
Lock is opened I think one can take an entry here
     Should we take entry at current lavel?

Yes lay laini chaheay I have already bought a little chunk lets c now
OK  thanks,Now i am also going to jump in FABL,JUST PRAY FOR ME

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