RNS Number : 7358Q
United Bank Limited
22 February 2023
 

                                                                                                               Secretary's Department

           UBL/BOD-241/PSX/Results/23

           22 February 2023

The General Manager                       

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi.

 

Dear Sir,

Financial Results for the Year Ended 31 December 2022

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 241st Meeting held on Wednesday at 10:00 a.m., 22 February 2023 at Islamabad inter-alia recommended the following:

(i)         Cash Dividend

 

A final Cash Dividend for the year 31 December 2022 at Rs.9/- per share i.e.90%. This is in addition to Interim Dividend already paid at Rs.13 per share i.e. 130%

 

(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 64th Annual General Meeting (AGM) of UBL will be held on Wednesday 09:30 a.m., 29 March 2023 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 Tuesday, 21 March 2023.                                                                                                                                                                         

The Share Transfer Books of UBL will remain closed from 22 March 2023 to 29 March 2023 (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 Tuesday, 21 March 2023 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 2022 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, 2022

 

 

2022

 

2021

 

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

 




Mark-up / return / interest earned

250,678,678


147,974,155

Mark-up / return / interest expensed

147,469,357


76,215,631

Net mark-up / interest income

103,209,321


71,758,524





Non-mark-up / interest income

 



Fee and commission income

15,871,191


13,063,973

Dividend income

2,093,393


2,033,934

Foreign exchange income

8,414,415


3,991,545

Gain from derivatives

48,147


21,549

Gain on securities - net

466,415


3,757,530

Other income

7,549,010


510,517

Total non-mark-up / interest income

34,442,571


23,379,048

Total income

137,651,892


95,137,572





Non-mark-up / interest expenses

 



Operating expenses

52,284,342


42,745,343

Workers' Welfare Fund

1,339,336


1,021,926

Other charges

48,862


198,557

Total non-mark-up / interest expenses

53,672,540


43,965,826





Profit before provisions

83,979,352


51,171,746

Provisions / (reversals) and write-offs- net

15,669,346


(955,407)





Profit before taxation

68,310,006


52,127,153





Taxation

36,247,351


21,245,030





Profit after taxation

32,062,655


30,882,123






 

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

 




Earnings per share - basic and diluted

26.19


25.23

 

 


 

Annexure B

 CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2022

 

 

2022

 

 

2021

 

                

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

 





 

Mark-up / return / interest earned

   257,829,501


   152,761,180

 

Mark-up / return / interest expensed

    150,086,273


     78,025,366

 

Net mark-up / interest income

    107,743,228


     74,735,814

 





 

Non-mark-up / interest income



 

 

Fee and commission income

     17,243,484


     14,716,632

 

Dividend income

       1,536,659


       1,570,903

 

Foreign exchange income

       8,595,998


       4,152,183

 

Gain on derivatives

           963,928


             21,549

 

Gain on securities - net

       560,588


       3,477,786

 

Other income

       7,606,522


382,137

 

Total non-mark-up / interest income

     36,507,179


     24,321,190

 

Total income

    144,250,407


     99,057,004

 

 




 

Non-mark-up / interest expenses




 

Operating expenses

     56,164,757


     47,447,066

 

Workers' Welfare Fund

      1,352,568


        1,035,013

 

Other charges

           48,862


           198,557

 

Total non-mark-up / interest expenses

     57,566,187


     48,680,636

 





 

Share of (loss) / profit of associates

(650,058)


342,160

 

Profit before provisions

     86,034,162


     50,718,528

 

Provisions / (reversals) and write offs - net

     17,598,771


     (1,448,527)

 

Profit before taxation from continuing operations

     68,435,391


     52,167,055 

 

 




 

Taxation

      36,374,642


     21,474,478

 





 

Profit after taxation from continuing operations

     32,060,749 


     30,692,577 

 

 




 

Discontinued operations

 

 

 

 

 

 

 

 

 

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

20,949

 

(70,678)

 



 


 


32,081,698

 

30,621,899

 

Attributable to:


 


 

Equity holders of the Bank


 


 

      from continuing operations

31,514,545

 

30,479,455

 

      from discontinued operations

20,949

 

(70,678)

 


31,535,494

 

30,408,777

 

Non-controlling interest

546,204

 

213,122

 

 

32,081,698

 

30,621,899

 



 


 


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

Earnings per share for profit from continuing operations attributable

to the equity holders of the Bank

        Basic and diluted

25.74


24.90

 

 




 

Earnings per share for profit attributable to the equity holders of the Bank 

        Basic and diluted

25.76


24.84

 

 

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