RNS Number : 8057U
United Bank Limited
03 August 2022
 

                                                                                                                               Secretary's Department

             UBL/BOD-238/PSX/Results/22

             03 August 2022

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 2022

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 238th meeting held on Wednesday, 03 August 2022 at Islamabad at 09:30 a.m. inter-alia recommended the following:

(i)            Cash Dividend

 

An Interim Cash Dividend for the Half Year ended 30 June 2022 at Rs.4/- per share i.e.40%.

This is addition to interim Dividend already paid 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 Tuesday, 16 August 2022.

                                                                           
The Share Transfer Books of UBL will remain closed from 17 August 2022 to 19 August 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 Tuesday, 16 August 2022 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 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 (UN-AUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2022



 April - June 2022

 

 April - June 2021

 

 January - June 2022

 

 January - June 2021

 







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

Mark-up / return / interest earned


 54,891,250


35,925,457


102,847,455


67,751,048

Mark-up / return / interest expensed


 31,258,621


17,694,416


57,741,904


32,662,142

Net mark-up / interest income


 23,632,629


 18,231,041


45,105,551


35,088,906










Non mark-up / interest income

 








Fee and commission income


 3,835,629


3,564,368


7,754,584


6,604,890

Dividend income


 355,843


628,742


1,259,503


881,158

Foreign exchange income


 3,332,194


 710,330


4,614,918


1,194,558

Income from derivatives


 60,264


1,504


22,487


8,758

Gain on securities - net


 146,466


 677,562


574,717


2,544,500

Other income


 190,442


 63,606


474,770


195,629

Total non mark-up / interest income


 7,920,838


5,646,112


14,700,979


11,429,493

Total Income

 

 31,553,467


23,877,153


59,806,530


46,518,399










Non mark-up / Interest expenses

 








Operating expenses


 12,361,375


 10,345,999


24,089,347


20,198,825

Workers' Welfare Fund


 374,482


 272,283


699,603


517,178

Other charges


 10,334


 14,947


15,962


39,494

Total non mark-up / interest expenses


12,746,191


 10,633,229


24,804,912


20,755,497










Profit before provisions


18,807,276


13,243,924


35,001,618


25,762,902

Provisions / (reversals) and write-offs - net


418,471


(441,467)


765,760


(87,396)










Profit before taxation

 

18,388,805


13,685,391


34,235,858


25,850,298










Taxation


16,054,639


6,092,761


22,373,985


10,852,991










Profit after taxation

 

2,334,166


7,592,630


11,861,873


14,997,307












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

 









Earnings per share - basic and diluted

 

1.91


6.20


9.69


12.25

 



 

ANNEXURE B

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

FOR THE SIX MONTHS ENDED JUNE 30, 2022

 




 

April - June 2022

 

 April - June 2021

 

 January - June 2022

 

 January - June 2021





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












Mark-up / return / interest earned


56,515,764  


36,873,518


105,847,586


69,804,068

Mark-up / return / interest expensed


31,888,669


18,044,127


58,857,098


33,469,771

Net mark-up / interest income


24,627,095


18,829,391


46,990,488


36,334,297












Non mark-up / interest income









Fee and commission income


4,154,930


3,651,729


8,372,389


7,121,063

Dividend income


174,469


182,866


704,274


435,072

Foreign exchange income


3,386,444


736,225


4,729,777


1,260,733

Income from derivatives


738,940


1,504


701,163


8,758

Gain on securities - net


201,542


709,535


647,948


2,583,607

Other income


202,409


58,722


478,911


186,607

Total non mark-up / interest income


8,858,734


5,340,581


15,634,462


11,595,840

Total income


33,485,829


24,169,972


62,624,950


47,930,137












Non mark-up / interest expenses









Operating expenses


13,303,855


11,008,395


25,990,861


21,793,028

Workers' Welfare Fund


376,571


273,358


704,603


521,852

Other charges


10,334


14,947


15,962


39,494

Total non mark-up / interest expenses


13,690,760


11,296,700


26,711,426


22,354,374












Share of profit of associates


98,781


72,784


51,615


224,786

Profit before provisions


19,893,850


12,946,056


35,965,139


25,800,549

Provisions  / (reversals) and write-offs - net


1,033,661


(534,265)


1,367,770


(157,933)

Profit before taxation from continuing operations


18,860,189


13,480,321


34,597,369


25,958,482












Taxation



16,079,594


6,127,353


22,444,112


11,019,580












Profit after taxation from continuing operations


2,780,595


7,352,968


12,153,257


14,938,902












Discontinued operations




















Profit from discontinued operations - net of  tax


23,616


106,507


45,788


106,474












Profit after taxation


2,804,211


7,459,475


12,199,045


15,045,376












Attributable to:









Equity holders of the Bank









 from continuing operations


2,630,746


7,282,454


11,912,672


14,881,184

 from discontinued operations


23,616


106,507


45,788


106,474





2,654,362


7,388,961


11,958,460


14,987,658

Non-controlling interest


149,849


70,514


240,585


57,718





2,804,211


7,459,475


12,199,045


15,045,376
















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

Earnings per share for profit from continuing operations









 attributable to the equity holders of the Bank









Basic and diluted


2.15


5.95


9.73


12.16












Earnings per share for profit attributable to the equity









  holders of the Bank









Basic and diluted


2.17


6.04


9.77


12.24

 

 

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