Pakistan Commercial Banking Report Q3 2012 - New Market Research Report
BMI View: The commercial banking sector's problem of rising non-performing loans (NPLs) will unlikely ease in the immediate future despite the State Bank of Pakistan's interest rate cuts, given the stickiness of debt servicing costs. Furthermore, the banks' heavy exposure to Pakistan's struggling manufacturing sector should keep the risk of high NPLs acute. Given the dim fundamental picture, Pakistani financial stocks are set for continued underperformance. One of the key issues that Pakistan's commercial banking sector will have to contend...
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