Author Topic: BIPL -- Bank Islami Pak Limited  (Read 86194 times)

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Offline Karuli

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BIPL -- Bank Islami Pak Limited
« Reply #-1 on: January 18, 2010, 06:21:24 PM »
« Last Edit: February 20, 2012, 03:08:23 PM by M&M »

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BIPL -- Bank Islami Pak Limited
« Reply #-1 on: January 18, 2010, 06:21:24 PM »

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« on: January 19, 2010, 12:20:16 AM »
after reading the above news regarding bipl, is it safe to buy at current price, and how much room further upside. thanks..

Offline Admin

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Re: BIPL -- Bank Islami Pak Limited
« Reply #1 on: January 19, 2010, 09:42:12 AM »
BankIslami aims to acquire EGIB
 
 
 
Tuesday, January 19, 2010
By Saad Hasan

KARACHI: BankIslami on Monday announced its intention to buy Emirates Global Islamic Bank (EGIB), indicating that it had a robust last (Oct-Dec 2009) quarter after accumulating losses until September 30, 2009.

In a notice sent to stock exchanges, BankIslami said a memorandum of understanding had been signed between the two banks for a possible merger or acquisition. But in any case, BankIslami would remain the surviving entity, it added.

BankIslami had accumulated losses of Rs495.68 million in the nine months to September 2009 but its CEO Hasan Bilgrami had told The News in an interview last year that it was set to break even by December 2009.

Besides spreading the branch network, the acquisition will help the two Islamic banks in raising the minimum capital. Accumulated losses have reduced BankIslami’s capital to Rs4.8bn and it had been in search of a suitable bank to acquire for the past few months.

Under central bank’s regulations, all banks were required to have minimum capital of Rs6 billion by end-December 2009. It is unlikely that profits of BankIslami in the Oct-Dec 2009 quarter will be enough to shore up the capital to that level.

The capital of EGIB has also dropped to just Rs3.695bn because of accumulated losses of Rs833m in the Jan-Sept 2009 period. It has 60 online branches in 36 cities around the country. With 102 branches of its own across 49 cities, the acquisition or merger will give an edge to BankIslami in the market.

Earlier, BankIslami had announced that it was looking to acquire even a conventional bank. However, industry people say a series of bank acquisitions by Hussain Lawai-led consortium has left few choices.

Against a depressing overall performance of the banking industry, BankIslami has seen tremendous growth in deposits in the last few months. Its deposits surged 83 per cent to Rs22.8bn by the end of September 2009 from Rs12.47bn in December 2008.

BankIslami is also close to acquiring one of the two consumer portfolios of Citibank Pakistan. It has carried out due diligence of Rs3bn auto and house financing portfolios of the leading consumer finance provider of yester years.

Pakistan has seen many acquisitions in recent years. Mauritius-based Suroor Investment is in the process of buying Arif Habib Bank, Mybank and Atlas Bank. Hussain Lawai, the President of Arif Habib Bank, who has wooed foreign investors to acquire local banks, is targeting a financial institution with 200 branches when all the three banks are merged. He says the process of acquisition and merger is expected to be completed by March 31, 2010.

 

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #2 on: January 19, 2010, 09:48:04 AM »
so one should buy and hold for three months. can it touch rs.10 in near future. please reply. thanks

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #3 on: January 19, 2010, 01:56:47 PM »
farooq bhai what is your recommendation in bipl?? is it good item to buy and for how long and target price?? thanks

Offline Admin

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Re: BIPL -- Bank Islami Pak Limited
« Reply #4 on: January 19, 2010, 02:06:35 PM »
farooq bhai what is your recommendation in bipl?? is it good item to buy and for how long and target price?? thanks

target 8 if it completes acquisition of egib
depends on approval from sbp

Offline rehman11

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Re: BIPL -- Bank Islami Pak Limited
« Reply #5 on: January 20, 2010, 01:54:59 PM »
Buy call @ 6rs

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #6 on: January 20, 2010, 02:03:54 PM »
any reason, and target price??? thanks

Offline rehman11

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Re: BIPL -- Bank Islami Pak Limited
« Reply #7 on: January 20, 2010, 03:39:22 PM »
Merger or aquisition with global emirates is the main reason to buy this share...
Well i think reasonable upside is there
And i cant tell u the target price right now but its a strong buy from my side

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #8 on: January 20, 2010, 04:37:56 PM »
 :thankyou: will take entry tommorrow, and if you have solid information then will buy more.

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #9 on: January 21, 2010, 07:39:47 PM »
rehman bhai aap ke news purani ho gae he, agar is barhna na hota tu barh chuka hota. please comment. thanks

Offline rehman11

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Re: BIPL -- Bank Islami Pak Limited
« Reply #10 on: January 21, 2010, 08:19:24 PM »
Nahi bhai abhi secp ki approval aayegi tab hi yeh dorega abhi time lagega ismain..
But these rates are not bad for 2 months investment

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #11 on: January 30, 2010, 12:34:44 PM »
 salam farooq bahi and honda bhai

i understand this is a third tier stock and only goes up when 1st and 2nd tier stocks goes up then shows upward movement, yesterday state bank has given approval for acqusition, but this share has not move a bit, even in these shares news does not matter, please tell if purchase at current levels will it move up in near term and what will be target price.  :thankyou:

Offline Honda 125

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Re: BIPL -- Bank Islami Pak Limited
« Reply #12 on: January 30, 2010, 01:35:18 PM »
salam farooq bahi and honda bhai

i understand this is a third tier stock and only goes up when 1st and 2nd tier stocks goes up then shows upward movement, yesterday state bank has given approval for acqusition, but this share has not move a bit, even in these shares news does not matter, please tell if purchase at current levels will it move up in near term and what will be target price.  :thankyou:

Buy around 5.25 - 5.50 and then hold!!!

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #13 on: January 30, 2010, 02:00:58 PM »
 :thankyou:

Offline Research Doctor

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Re: BIPL -- Bank Islami Pak Limited
« Reply #14 on: January 30, 2010, 09:46:05 PM »
no good new abt it is pulling it upwards......since the news abt aquisition and mergers have started to come.....it is closing low.......why????? not a single day it shot up! At start of january it gained three months high (6.7)......then lowered........now what news will make it to move up and when?

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #15 on: February 11, 2010, 09:04:09 PM »
kitna hold karye gaa ye. na neche aata he na ooper jata he. :brickwall:

Offline Abdul Qadir

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Re: BIPL -- Bank Islami Pak Limited
« Reply #16 on: February 22, 2010, 11:00:33 PM »
lao maal honay wala hai keep ur eyes on it.............:D

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #17 on: February 23, 2010, 12:34:56 AM »
what inside news you have sir and please give target price. :thanks:

Offline suneelahmed

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Re: BIPL -- Bank Islami Pak Limited
« Reply #18 on: February 26, 2010, 11:58:32 PM »
honda bhai salam

last time you said buy around rs. 5.50, i bought at 5.60 and also next week is meeting, in your last comment you said buy and hold, i will be greatful if you can give me the target price to sell, also tell to sell before meeting or after meeting , please mention target price and time.  :thanks: