JS Securities Limited – HBL: 2014 EPS stood at Rs21.63, +38% YoY

Karachi, February 17, 2015 (PPI-OT): Habib Bank Ltd (HBL) announced its 2014 result today posting a PAT of Rs31.82bn (EPS: Rs21.63), registering a growth of 38% YoY. The result beat JS Securities Limited’s EPS expectation of Rs19.65 on better than expected total income. The bank also announced a final cash dividend of Rs5.5 per share (cumulative 2014 dividend of Rs12 per share).

HBL’s 2014 Net Interest Income (NII) grew by 25% YoY to Rs69.09bn, on the back of expected higher earnings assets. Similarly, bank’s provisions and write offs also increased by 7% YoY to Rs1.49bn. In addition, 24% YoY growth in Non Core Income supported the bottom line growth.

At current levels the stock is trading at 2015F PE and PBV of 9.86x and 1.75x, respectively. JS Securities Limited maintains JS Securities Limited’s ‘Buy’ call on the stock.

The post JS Securities Limited – HBL: 2014 EPS stood at Rs21.63, +38% YoY appeared first on AsiaNet-Pakistan.

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