RNS Number : 0081I
United Bank Limited
09 August 2021
 

                                                                                                                     Secretary's Department

             UBL/BOD-233/PSX/Results/21

             06 August 2021

The General Manager                   

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,                                                                                                                                                 

Karachi.

 

Dear Sir,

Financial Results for the Half Year Ended 30 June 2021

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 233rd meeting held on Friday, 06 August 2021 at 03:00 p.m. inter-alia recommended the following:

(i)            Cash Dividend

 

An Interim Cash Dividend for the Half Year ended 30 June 2021 at Rs. 4/- per share i.e. 40%. This is in addition to interim Dividend already paid at Rs.4/- per share i.e. 40%.

 

(ii)           Bonus Shares

--- NIL ---

 

(iii)          Right Shares

--- NIL ---

 

(iv)         Any Other Entitlement / Corporate Action

--- NIL ---

 

(v)          Any Other Price-Sensitive Information

--- NIL ---

The financial results of UBL are attached at Annexure "A" for Un-Consolidated Accounts and Annexure "B" for Consolidated Accounts of the said period.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members (with their IBAN details) on Friday, 27 August 2021.

The Share Transfer Books of UBL will remain closed from 28 August 2021 to 03 September 2021 (both days inclusive).  Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, Plot No. C-32, Jami Commercial Street-2 D.H.A. Phase-VII Karachi-75400 at the close of business on Friday, 27 August 2021 will be treated in time for the purpose of above entitlement to the transferees.

The accounts / report of the Bank for the Half Year ended 30 June 2021 will be transmitted through PUCARS separately, within stipulated time.

Yours faithfully, 

         Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

 

C.C. to:

1)    London Stock Exchange.

2)    The Commissioner, Enforcement & Monitoring Division, Securities and Exchange

Commission of Pakistan, NIC Building, Jinnah Avenue, Islamabad.

 

 

 

ANNEXURE - A

UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2021

 

 

 April - June 2021

 

 April - June 2020

 

 January - June 2021

 

 January - June 2020

 

 

 

 

 

 

 

-------------- (Rupees in '000) --------------

Mark-up / return / interest earned

 

  35,925,457

 

    43,067,661

 

67,751,048

 

     86,448,014

Mark-up / return / interest expensed

 

  17,694,416

 

    21,289,376

 

32,662,142

 

     47,327,204

Net mark-up / interest income

 

  18,231,041

 

    21,778,285

 

35,088,906

 

     39,120,810

 

 

 

 

 

 

 

 

 

Non mark-up / interest income

 

 

 

 

 

 

 

 

Fee and commission income

 

    3,564,368

 

       2,261,860

 

6,604,890

 

       5,248,309

Dividend income

 

       628,742

 

          399,431

 

881,158

 

           793,328

Foreign exchange income

 

       710,330

 

       1,000,193

 

1,194,558

 

       1,732,617

Income / (loss) from derivatives

 

            1,504

 

             (2,234)

 

8,758

 

           (13,508)

Gain on securities - net

 

       677,562

 

          334,118

 

2,544,500

 

           676,337

Other income

 

          63,606

 

          269,359

 

195,629

 

           491,513

Total non mark-up / interest income

 

    5,646,112

 

       4,262,727

 

11,429,493

 

       8,928,596

Total Income

 

  23,877,153

 

    26,041,012

 

46,518,399

 

     48,049,406

 

 

 

 

 

 

 

 

 

Non mark-up / Interest expenses

 

 

 

 

 

 

 

 

Operating expenses

 

  10,345,999

 

       9,689,626

 

20,198,825

 

     19,163,219

Workers' Welfare Fund

 

       272,283

 

          280,975

 

517,178

 

           499,275

Other charges / (reversals)

 

          14,947

 

           (28,706)

 

39,494

 

           152,333

Total non mark-up / interest expenses

 

  10,633,229

 

       9,941,895

 

20,755,497

 

     19,814,827

 

 

 

 

 

 

 

 

 

Profit before provisions

 

  13,243,924

 

    16,099,117

 

25,762,902

 

     28,234,579

(Reversals) / provisions and write-offs - net

 

      (441,467)

 

       5,729,367

 

(87,396)

 

9,429,821

 

 

 

 

 

 

 

 

 

PROFIT BEFORE TAXATION

 

  13,685,391

 

    10,369,750

 

     25,850,298

 

     18,804,758

 

 

 

 

 

 

 

 

 

Taxation

 

    6,092,761

 

       4,028,953

 

10,852,991

 

       7,403,980

 

 

 

 

 

 

 

 

 

PROFIT AFTER TAXATION

 

    7,592,630

 

       6,340,797

 

14,997,307

 

     11,400,778

 

 

 

 

 

 

 

 

 

 

 

----------- (Rupees) -----------

 

 

 

 

 

 

 

 

 

Earnings per share - basic and diluted

 

6.20

 

5.18

 

12.25

 

9.31

 

 

 

                                                                                               

ANNEXURE B

CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2021

 

 

 

 

 

April - June 2021

 

 April - June 2020

 

 January - June 2021

 

 January - June 2020

 

 

 

 

------------------------------ (Rupees in '000) ------------------------------

 

 

 

 

 

 

 

 

 

 

 

Mark-up / return / interest earned

 

36,873,518

 

44,068,763

 

69,804,068

 

88,442,946

Mark-up / return / interest expensed

 

18,044,127

 

21,789,072

 

33,469,771

 

48,373,814

Net mark-up / interest income

 

18,829,391

 

22,279,691

 

36,334,297

 

40,069,132

 

 

 

 

 

 

 

 

 

 

 

Non mark-up / interest income

 

 

 

 

 

 

 

 

Fee and commission income

 

3,651,729

 

2,642,479

 

7,121,063

 

6,152,592

Dividend income

 

182,866

 

218,133

 

435,072

 

395,832

Foreign exchange income

 

736,225

 

1,050,376

 

1,260,733

 

1,821,352

Income / (loss) from derivatives

 

1,504

 

(2,234)

 

8,758

 

(13,508)

Gain on securities - net

 

709,535

 

400,209

 

2,583,607

 

858,261

Other income

 

58,722

 

314,350

 

186,607

 

488,949

Total non mark-up / interest income

 

5,340,581

 

4,623,313

 

11,595,840

 

9,703,478

Total income

 

24,169,972

 

26,903,004

 

47,930,137

 

49,772,610

 

 

 

 

 

 

 

 

 

 

 

Non mark-up / interest expenses

 

 

 

 

 

 

 

 

Operating expenses

 

11,008,395

 

10,631,755

 

21,793,028

 

20,946,569

Workers' Welfare Fund

 

273,358

 

283,511

 

521,852

 

502,933

Other charges

 

14,947

 

(28,706)

 

39,494

 

152,333

Total non mark-up / interest expenses

 

11,296,700

 

10,886,560

 

22,354,374

 

21,601,835

 

 

 

 

 

 

 

 

 

 

 

Share of profit of associates

 

72,784

 

191,665

 

224,786

 

44,129

Profit before provisions

 

12,946,056

 

16,208,109

 

25,800,549

 

28,214,904

(Reversals) / provisions and write-offs - net

 

(534,265)

 

6,251,277

 

(157,933)

 

9,952,594

Profit before taxation from continuing operations

 

13,480,321

 

9,956,832

 

25,958,482

 

18,262,310

 

 

 

 

 

 

 

 

 

 

 

Taxation

 

 

6,127,353

 

4,125,432

 

11,019,580

 

7,525,752

 

 

 

 

 

 

 

 

 

 

 

Profit after taxation from continuing operations

 

7,352,968

 

5,831,400

 

14,938,902

 

10,736,558

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit / (loss) from discontinued operations - net of  tax

 

106,507

 

(16,776)

 

106,474

 

(10,271)

 

 

 

 

 

 

 

 

 

 

 

Profit after taxation

 

7,459,475

 

5,814,624

 

15,045,376

 

10,726,287

 

 

 

 

 

 

 

 

 

 

 

Attributable to:

 

 

 

 

 

 

 

 

Equity holders of the Bank

 

 

 

 

 

 

 

 

 from continuing operations

 

7,282,454

 

6,085,264

 

14,881,184

 

10,956,381

 from discontinued operations

 

106,507

 

(16,776)

 

106,474

 

(10,271)

 

 

 

 

7,388,961

 

6,068,488

 

14,987,658

 

10,946,110

Non-controlling interest

 

70,514

 

(253,864)

 

57,718

 

(219,823)

 

 

 

 

7,459,475

 

5,814,624

 

15,045,376

 

10,726,287

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

--------------------------------------- (Rupees) ---------------------------------------

Earnings per share for profit from continuing operations

 

 

 

 

 

 

 

 

 attributable to the ordinary equity holders of the Bank

 

 

 

 

 

 

 

 

Basic and diluted

 

5.95

 

4.97

 

12.16

 

8.95

 

 

 

 

 

 

 

 

 

 

 

Earnings per share for profit attributable to the ordinary

 

 

 

 

 

 

 

 

 equity holders of the Bank

 

 

 

 

 

 

 

 

Basic and diluted

 

6.04

 

4.96

 

12.24

 

8.94

 

 

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