All posts by Azib Khan
Senior Analyst
Sectors Covered: Banks
By Azib Khan
05 May 2021, 3:30 PM
ANZ Banking Group's 1H21 cash NPAT, bad debt charge, and net interest margin outcomes exceeded our expectations which appeared to be the most optimistic on the street.
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By Azib Khan
03 May 2021, 12:30 PM
Westpac Banking Corp announced 1H21 cash NPAT which was 2% less than our expectation, but ~9% better than Factset consensus. We view this result as a high-quality beat versus consensus.
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By Azib Khan
27 April 2021, 6:00 PM
Westpac Banking Corp (WBC) has announced that its cash earnings in 1H21 will be reduced by $282m. We have consequently adjusted our forecasts.
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By Azib Khan
22 April 2021, 3:30 PM
We again expect the upcoming round of major bank reporting to surprise on the upside and we expect a further increase in investor confidence in the outlook for asset quality, dividends and capital management.
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By Azib Khan
15 April 2021, 11:00 AM
Bank of Queensland's (BOQ) 1H21 result was broadly in line with expectations. The Group's mortgage book grew at 1.6x system mortgage growth, and they are looking to accelerate housing growth further.
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By Azib Khan
24 February 2021, 12:32 PM
Bank of Queensland (ASX:BOQ) has announced that it has entered into an agreement to acquire 100% of Members Equity Bank Limited (ME Bank) for cash consideration of $1.325bn. The acquisition will be funded by an underwritten capital raising of $1.35bn at a price of $7.35 per share.
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By Azib Khan
22 February 2021, 8:00 AM
Bank of Queensland (BOQ) has entered into an agreement to acquire 100% of Members Equity Bank Limited (ME Bank). This comes as BOQ's 1H21 trading update mostly exceeded expectations.
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By Azib Khan
17 February 2021, 12:00 PM
Westpac Banking Corporation (WBC) remains our preferred major bank, and we particularly expect the outperformance against Commonwealth Bank of Australia (CBA) to continue.
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By Azib Khan
17 February 2021, 11:00 AM
National Australia Bank (ASX:NAB) has announced unaudited cash earnings of $1.65bn for 1Q21, which, on a
run-rate basis, is 10% better than our expectation and ~33% better than FactSet
consensus. Accordingly, we maintain our Add recommendation.
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By Azib Khan
10 February 2021, 3:00 PM
Commonwealth Bank of Australia's 1H21 results exceeded our expectations. We increase our forecasts and target price but retain a Reduce recommendation.
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