Secretary's Department
UBL/BOD-236/PSX/Results/22
23 February 2022
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the Year Ended 31 December 2021
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 236th Meeting held on Wednesday at 10:00 a.m., 23 February 2022 at Islamabad inter-alia recommended the following:
(i) Cash Dividend
A final Cash Dividend for the year 31 December 2021 at Rs.6.00/- per share i.e. 60%. This is in addition to Interim Dividend already paid at Rs.12/- per share i.e. 120%
(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 Board has further decided that 63rd Annual General Meeting (AGM) of UBL will be held on Tuesday, 09:30 a.m., 29 March 2022 at Islamabad.
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members (with their IBAN details) on Monday, 21 March 2022.
The Share Transfer Books of UBL will remain closed from 22 March 2022 to 29 March 2022 (both days inclusive). Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, Plot No. 32-C, Jami Commercial Street 2, D.H.A., Phase VII, Karachi-75500, at the close of business on Monday, 21 March 2022 will be treated in time for the purpose of above entitlement to the transferees.
Annual Report of the Bank for the year ended 31 December 2021 will be transmitted through PUCARS at least 21 days before the date of Annual General Meeting.
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.
Annexure A
UNCONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2021
|
| 2021 |
| 2020 |
|
| -------------- (Rupees in '000) ----------- | ||
|
|
|
|
|
| Mark-up / return / interest earned | 147,974,155 |
| 152,003,210 |
| Mark-up / return / interest expensed | 76,215,631 |
| 77,044,038 |
| Net mark-up / interest income | 71,758,524 |
| 74,959,172 |
|
|
|
|
|
| Non mark-up / interest income |
|
|
|
| Fee and commission income | 13,063,973 |
| 11,097,472 |
| Dividend income | 2,033,934 |
| 1,269,537 |
| Foreign exchange income | 3,991,545 |
| 3,684,585 |
| Income / (loss) from derivatives | 21,549 |
| (13,076) |
| Gain on securities - net | 3,757,530 |
| 411,440 |
| Other income | 510,517 |
| 644,381 |
| Total non mark-up / interest income | 23,379,048 |
| 17,094,339 |
| Total income | 95,137,572 |
| 92,053,511 |
|
|
|
|
|
| Non mark-up / interest expenses |
|
|
|
| Operating expenses | 42,745,343 |
| 40,060,602 |
| Workers' Welfare Fund | 1,021,926 |
| 864,956 |
| Other charges | 198,557 |
| 167,335 |
| Total non mark-up / interest expenses | 43,965,826 |
| 41,092,893 |
|
|
|
|
|
| Profit before provisions | 51,171,746 |
| 50,960,618 |
| (Reversal) / provisions and write-offs- net | (955,407) |
| 16,768,148 |
|
|
|
|
|
| Profit before taxation | 52,127,153 |
| 34,192,470 |
|
|
|
|
|
| Taxation | 21,245,030 |
| 13,293,687 |
|
|
|
|
|
| Profit after taxation | 30,882,123 |
| 20,898,783 |
|
|
|
|
|
|
| ----------- (Rupees) ----------- | ||
|
|
|
|
|
| Earnings per share - basic and diluted | 25.23 |
| 17.07 |
Annexure B
CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2021
|
| 2021 |
| 2020 |
|
| ------------ (Rupees in '000) ------------ | ||
|
|
|
|
|
| Mark-up / return / interest earned | 152,761,180 |
| 156,078,787 |
| Mark-up / return / interest expensed | 78,025,366 |
| 79,005,574 |
| Net mark-up / interest income | 74,735,814 |
| 77,073,213 |
|
|
|
|
|
| Non mark-up / interest income |
|
|
|
| Fee and commission income | 14,716,632 |
| 12,830,086 |
| Dividend income | 1,570,903 |
| 872,029 |
| Foreign exchange income | 4,152,183 |
| 3,857,888 |
| Income / (loss) from derivatives | 21,549 |
| (13,076) |
| Gain on securities - net | 3,477,786 |
| 610,230 |
| Other income | 382,137 |
| 687,298 |
| Total non mark-up / interest income | 24,321,190 |
| 18,844,455 |
| Total income | 99,057,004 |
| 95,917,668 |
|
|
|
|
|
| Non mark-up / interest expenses |
|
|
|
| Operating expenses | 47,447,066 |
| 43,743,044 |
| Workers' Welfare Fund | 1,035,013 |
| 873,966 |
| Other charges | 198,557 |
| 167,335 |
| Total non mark-up / interest expenses | 48,680,636 |
| 44,784,345 |
|
|
|
|
|
| Share of profit of associates | 342,160 |
| 504,542 |
| Profit before provisions | 50,718,528 |
| 51,637,865 |
| (Reversals) / provisions and write offs - net | (1,448,527) |
| 17,255,678 |
| Profit before taxation from continuing operations | 52,167,055 |
| 34,382,187 |
|
|
|
|
|
| Taxation | 21,474,478 |
| 13,577,280 |
|
|
|
|
|
| Profit after taxation from continuing operations | 30,692,577 |
| 20,804,907 |
|
|
|
|
|
| Discontinued operation |
|
|
|
|
|
|
|
|
| Loss from discontinued operation - net of tax | (70,678) |
| (16,373) |
|
|
|
|
|
|
| 30,621,899 |
| 20,788,534 |
| Attributable to: |
|
|
|
| Equity holders of the Bank |
|
|
|
| from continuing operations | 30,479,455 |
| 20,954,291 |
| from discontinued operation | (70,678) |
| (16,373) |
|
| 30,408,777 |
| 20,937,918 |
| Non-controlling interest | 213,122 |
| (149,384) |
|
| 30,621,899 |
| 20,788,534 |
|
|
|
|
|
|
| ----------------- (Rupees) ----------------- | ||
| Earnings per share for profit from continuing operations attributable to the equity holders of the Bank - Basic and diluted | 24.90 |
| 17.12 |
|
|
|
|
|
| Earnings per share for profit attributable to the equity holders of the Bank - Basic and diluted | 24.84 |
| 17.10 |
|
|
|
|
|
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