RNS Number : 7399I
United Bank Limited
20 April 2022
 

                                                                                                                     Secretary's Department

             UBL/BOD-237/PSX/Results/22

             20 April 2022

The General Manager                   

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,                                                                                                                                                 

Karachi.

 

Dear Sir,

Financial Results for the 1st Quarter Ended 31 March 2022

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 237th meeting held on Wednesday, 20 April 2022 at Islamabad at 10:00 a.m. inter-alia approved the following:

(i)            Cash Dividend

 

An Interim Cash Dividend for the quarter ended 31 March 2022 at Rs.5/- per share i.e.50%.

 

(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 Wednesday, 04 May 2022.

The Share Transfer Books of UBL will remain closed from 05 May 2022 to 07 May 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-75400 at the close of business on Wednesday, 04 May 2022 will be treated in time for the purpose of above entitlement to the transferees.

The accounts / report of the Bank for the 1stQuarter ended 31 March 2022 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

FOR THE THREE MONTHS ENDED MARCH 31, 2022

 

 

 

 January - March 2022

 

January - March 2021

 

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

 

 

 

 

Mark-up / return / interest earned

   47,956,205

 

31,825,591   

Mark-up / return / interest expensed

26,483,283      

 

14,967,726

Net mark-up / interest income

     21,472,922

 

16,857,865

 

 

 

 

Non mark-up / interest income

 

 

 

Fee and commission income

3,918,955

 

3,040,522

Dividend income

903,660

 

252,416

Foreign exchange income

1,282,724

 

484,228

(Loss) / income from derivatives

(37,777)

 

7,254

Gain on securities - net

428,251

 

1,866,938

Other income

284,328

 

132,023

Total non-mark-up / interest income

6,780,141

 

5,783,381

Total income

28,253,063

 

22,641,246

 

 

 

 

Non mark-up / interest expenses

 

 

 

Operating expenses

11,727,972

 

9,852,826

Workers' Welfare Fund

325,121

 

244,895

Other charges

5,628

 

24,547

Total non mark-up / interest expenses

12,058,721

 

10,122,268

 

 

 

 

Profit before provisions

16,194,342

 

12,518,978

Provisions and write-offs- net

347,289

 

354,071

 

 

 

 

Profit before taxation

15,847,053

 

12,164,907

 

 

 

 

Taxation

6,319,346

 

4,760,230

 

 

 

 

Profit after taxation

9,527,707

 

7,404,677

 

 

 

 

 

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

 

 

 

 

Earnings per share - basic and diluted

7.78

 

6.05

 

 

 

Annexure B

CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT

FOR THE THREE MONTHS ENDED MARCH 31, 2022

 

 

  January - March

2022

 

January - March

2021

 

                

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

 

 

 

 

 

 

Mark-up / return / interest earned

49,331,822

 

   32,930,550

 

Mark-up / return / interest expensed

26,968,429

 

     15,425,644

 

Net mark-up / interest income

22,363,393

 

     17,504,906

 

 

 

 

 

 

Non mark-up / interest income

 

 

 

 

Fee and commission income

4,217,459

 

3,469,334  

 

Dividend income

529,805

 

252,206

 

Foreign exchange income

1,343,333

 

524,508

 

(Loss) / income from derivatives

(37,777)

 

 7,254  

 

Gain on securities - net

446,406

 

1,874,072

 

Other income

276,502

 

127,885

 

Total non mark-up / interest income

6,775,728

 

      6,255,259  

 

Total income

29,139,121

 

      23,760,165  

 

 

 

 

 

 

Non mark-up / interest expenses

 

 

 

 

Operating expenses

12,687,006

 

10,784,633

 

Workers' Welfare Fund

328,032

 

248,494

 

Other charges

5,628

 

24,547

 

Total non mark-up / interest expenses

13,020,666

 

11,057,674

 

 

 

 

 

 

Share of (loss) / profit of associates

(47,166)

 

152,002

 

Profit before provisions

16,071,289

 

12,854,493

 

Provisions and write-offs - net

334,109

 

376,332

 

Profit before taxation from continuing operations

15,737,180

 

12,478,161

 

 

 

 

 

 

Taxation

6,364,518

 

4,892,227

 

 

 

 

 

 

Profit after taxation from continuing operations

9,372,662

 

7,585,934 

 

 

 

 

 

 

Discontinued operation

 

 

 

 

 

 

 

 

 

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

22,172

 

(33)

 

 

 

 

 

 

 

9,394,834

 

7,585,901

 

Attributable to:

 

 

 

 

Equity holders of the Bank

 

 

 

 

      from continuing operations

9,281,926

 

7,598,730

 

      from discontinued operation

22,172

 

(33)

 

 

9,304,098

 

7,598,697

 

Non-controlling interest

90,736

 

(12,796)

 

 

9,394,834

 

7,585,901

 

 

 

 

 

 

 

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

Earnings per share for profit from continuing operations attributable

        to the equity holders of the Bank

        Basic and diluted

7.58

 

6.21

 

 

 

 

 

 

Earnings per share for profit attributable to the equity

        holders of the Bank

        Basic and diluted

7.60

 

6.21

 

 

 

 

 

 

 

                                         

 

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