On this week’s Bourse Report, Sarodh reviews the performance of Non-Banking Financial sector stalwarts Guardian Holdings Limited (GHL) and Ansa Merchant Bank Limited (AMBL) for the first quarter ended 31st March, 2021. GHL benefited from a recovery in financial markets and the consolidation of NCB Insurance Company Limited’s operations in the last quarter of 2020. AMBL, meanwhile, benefited from an improvement in Total Expenses likely on account of lower Impairment losses. With both groups poised to grow through acquisition activities, will the momentum continue?