RNS Number : 5771D
United Bank Limited
20 October 2022
 

                                                                                                          Secretary's Department

UBL/BOD-239/PSX/Results-01/22

19 October 2022

The General Manager                   

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,                                                                                                                                                 

Karachi.

 

Dear Sir,

Financial Results for the Nine Months Ended 30 September 2022

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 239th meeting held on Wednesday, 19 October 2022 at Islamabad at 09:30 a.m. inter-alia recommended the following:

(i)            Cash Dividend

 

An Interim Cash Dividend for the nine months ended 30 September 2022 at Rs.4/- per share i.e. 40%. This is in addition to Interim Dividend already paid at Rs.9/- per share i.e. 90%

 

(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, 01 November 2022.

The Share Transfer Books of UBL will remain closed from 02 November 2022 to 04 November 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, 01 November 2022 will be treated in time for the purpose of above entitlement to the transferees.

The accounts / report of the Bank for the nine months ended 30 September 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 NINE MONTHS ENDED SEPTEMBER 30, 2022



 July - September

2022

 

 July - September 2021

 

 January - September

2022

 

 January - September 2021

 







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

Mark-up / return / interest earned


 73,458,895


41,307,290


176,306,350


109,058,338

Mark-up / return / interest expensed


 45,790,734


22,706,710


103,532,638


55,368,852

Net mark-up / interest income


 27,668,161


 18,600,580


72,773,712


53,689,486










Non mark-up / interest income

 








Fee and commission income


 3,937,453


3,117,409


11,692,037


9,722,299

Dividend income


 214,056


540,036


1,473,559


1,421,194

Foreign exchange income


 3,016,173


 1,366,963


7,631,091


2,561,521

(Loss) / income from derivatives


 (25,836)


34,359


(3,349)


43,117

Gain on securities - net


 92,241


 721,273


666,958


3,265,773

Other income


 184,052


 73,595


658,822


269,224

Total non mark-up / interest income


 7,418,139


5,853,635


22,119,118


17,283,128

Total Income

 

 35,086,300


24,454,215


94,892,830


70,972,614










Non mark-up / Interest expenses

 








Operating expenses


 13,683,016


 11,003,494


37,772,363


31,202,319

Workers' Welfare Fund


  333,706


 257,678


1,033,309


774,856

Other charges


 1,827


 46,416


17,789


85,910

Total non mark-up / interest expenses


14,018,549


 11,307,588


38,823,461


32,063,085










Profit before provisions


21,067,751


13,146,627


56,069,369


38,909,529

Provisions / (reversals) and write-offs - net


4,650,557


(327,125)


5,416,317


(414,521)










Profit before taxation

 

16,417,194


13,473,752


50,653,052


39,324,050










Taxation


9,517,237


5,710,721


31,891,222


16,563,712










Profit after taxation

 

6,899,957


7,763,031


18,761,830


22,760,338












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

 









Earnings per share - basic and diluted

 

5.64


6.34


15.33


18.59

 

ANNEXURE B

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022

 




 

July - September 2022

 

 July - September 2021

 

 January - September 2022

 

 January - September 2021





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












Mark-up / return / interest earned


75,402,959  


42,521,814


181,250,545


112,325,882

Mark-up / return / interest expensed


46,479,598


23,133,831


105,336,696


56,603,602

Net mark-up / interest income


28,923,361


19,387,983


75,913,849


55,722,280












Non mark-up / interest income









Fee and commission income


4,285,794


3,412,822


12,658,183


10,533,885

Dividend income


214,057


523,398


918,331


958,470

Foreign exchange income


3,034,467


1,380,152


7,764,244


2,640,885

Income from derivatives


258,263


34,359


959,426


43,117

Gain on securities - net


109,483


407,885


757,431


2,991,492

Other income


279,791


62,950


758,702


249,557

Total non mark-up / interest income


8,181,855


5,821,566


23,816,317


17,417,406

Total income


37,105,216


25,209,549


99,730,166


73,139,686












Non mark-up / interest expenses









Operating expenses


14,436,639


11,869,533


40,427,500


33,662,561

Workers' Welfare Fund


338,190


260,462


1,042,793


782,314

Other charges


1,827


46,416


17,789


85,910

Total non mark-up / interest expenses


14,776,656


12,176,411


41,488,082


34,530,785












Share of (loss) / profit of associates


(678,902)


22,575


(627,287)


247,361

Profit before provisions


21,649,658


13,055,713


57,614,797


38,856,262

Provisions  / (reversals) and write-offs - net


5,460,852


(707,890)


6,828,622


(865,823)

Profit before taxation from continuing operations


16,188,806


13,763,603


50,786,175


39,722,085












Taxation



9,596,211


5,763,626


32,040,323


16,783,206












Profit after taxation from continuing operations


6,592,595


7,999,977


18,745,852


22,938,879












Discontinued operation




















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


1,082


(1,176,660)


46,870


(1,070,186)












Profit after taxation


6,593,677


6,823,317


18,792,722


21,868,693












Attributable to:









Equity holders of the Bank









 from continuing operations


6,513,164


7,932,902


18,425,836


22,814,086

 from discontinued operation


1,082


(1,176,660)


46,870


(1,070,186)





6,514,246


6,756,242


18,472,706


21,743,900

Non-controlling interest


79,431


67,075


320,016


124,793





6,593,677


6,823,317


18,792,722


21,868,693
















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

Earnings per share for profit from continuing operations









 attributable to the equity holders of the Bank









Basic and diluted


5.32


6.48


15.05


18.64

Earnings per share for profit attributable to the equity









  holders of the Bank









Basic and diluted


5.32


5.52


15.09


17.76

                                                                                               

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
QRTMMBMTMTATBBT