RNS Number : 5455G
United Bank Limited
19 July 2023
 

             

 

            Secretary's Department

             UBL/BOD-244/PSX/Results/23

             19 July 2023

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 2023

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 244th meeting held on Wednesday, 19 July 2023 at Islamabad at 10:00 a.m. inter-alia approved the following:

(i)            Cash Dividend

 

An Interim Cash Dividend for the Half Year ended 30 June 2023 at Rs.11/- per share i.e.110%.

This is addition to interim Dividend already paid at Rs.11/- per share i.e. 110%


(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 Monday, 31 July 2023.                                                                                                                                     

The Share Transfer Books of UBL will remain closed from 01 August 2023 to 03 August 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-75400 at the close of business on Monday, 31 July 2023 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 2023 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, 2023



April - June 2023

 

April - June 2022

 

January - June 2023

 

January - June 2022

 







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

Mark-up / return / interest earned


100,025,963

 54,891,250


189,863,002


102,847,455

Mark-up / return / interest expensed


64,419,944


 31,258,621


121,001,922


57,741,904

Net mark-up / interest income


  35,606,019


 23,632,629


68,861,080


45,105,551










Non mark-up / interest income

 








Fee and commission income


  4,434,039


 3,835,629


8,771,605


7,754,584

Dividend income


515,963

 355,843


991,412


1,259,503

Foreign exchange income


2,560,949

 3,332,194


6,907,546


4,614,918

(Loss) / income from derivatives


(161,010)

 60,264


(139,516)


22,487

(Loss) / gain on securities - net


(4,286,964)

 146,466


(4,926,858)


574,717

Other income


353,730


 190,442


593,919


474,770

Total non mark-up / interest income


3,416,707


 7,920,838


12,198,108


14,700,979

Total Income

 

39,022,726


 31,553,467


81,059,188


59,806,530










Non mark-up / Interest expenses

 








Operating expenses


15,380,268


 12,361,375


29,905,428


24,089,347

Workers' Welfare Fund


538,601

 374,482


1,034,686


699,603

Other charges


2,544

 10,334


4,065


15,962

Total non mark-up / interest expenses


15,921,413


12,746,191


30,944,179


24,804,912










Profit before provisions


23,101,313


18,807,276


50,115,009


35,001,618

(Reversal) / Provisions and write-offs - net


(3,077,760)

418,471


(463,169)


765,760









Profit before taxation

 

26,179,073


18,388,805


50,578,178


34,235,858










Taxation


13,762,654

16,054,639


24,259,019


22,373,985










Profit after taxation

 

12,416,419


2,334,166


26,319,159


11,861,873












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

 









Earnings per share - basic and diluted

 

10.14

1.91


21.50


9.69

 



 

ANNEXURE B

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

FOR THE SIX MONTHS ENDED JUNE 30, 2023

 




 

April - June 2023

 

 April - June 2022

 

 January - June 2023

 

 January - June 2022





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












Mark-up / return / interest earned


103,252,140 


56,515,764


195,820,296


105,847,586

Mark-up / return / interest expensed


65,864,810


31,888,669


123,485,537


58,857,098

Net mark-up / interest income


37,387,330


24,627,095


72,334,759


46,990,488












Non-mark-up / interest income









Fee and commission income


4,938,526


4,154,930


9,720,097


8,372,389

Dividend income


428,851


174,469


904,300


704,274

Foreign exchange income


2,617,020


3,386,444


7,055,660


4,729,777

(Loss) / income from derivatives


(171,577)


738,940


(209,183)


701,163

(Loss) / gain on securities - net


(4,281,584)


201,542


(4,918,716)


647,948

Other income


353,175


202,409


587,371


478,911

Total non-markup / interest income


3,884,411


8,858,734


13,139,529


15,634,462

Total income


41,271,741


33,485,829


85,474,288


62,624,950












Non-mark-up / interest expenses









Operating expenses


16,722,117


13,303,855


32,442,092


25,990,861

Workers' Welfare Fund


543,462


376,571


1,043,620


704,603

Other charges


2,544


10,334


4,065


15,962

Total non-mark-up / interest expenses


17,268,123


13,690,760


33,489,777


26,711,426












(Loss) / share of profit of associates


(216,156)


98,781


(374,401)


51,615

Profit before provisions


23,787,462


19,893,850


51,610,110


35,965,139

(Reversal) / provisions and write-offs - net


(3,125,434)


1,033,661


(410,829)


1,367,770

Profit before taxation from continuing operations


26,912,896


18,860,189


52,020,939


34,597,369












Taxation



13,861,523


16,079,594


24,498,838


22,444,112












Profit after taxation from continuing operations


13,051,373


2,780,595


27,522,101


12,153,257












Discontinued operations




















Profit from discontinued operations - net of tax


-


23,616


-


45,788












Profit after taxation


13,051,373


2,804,211


27,522,101


12,199,045












Attributable to:









Equity holders of the Bank









 from continuing operations


12,716,401


2,630,746


26,943,297


11,912,672

 from discontinued operations


-


23,616


-


45,788





12,716,401


2,654,362


26,943,297


11,958,460

Non-controlling interest


334,972


149,849


578,804


240,585





13,051,373


2,804,211


27,522,101


12,199,045
















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

Earnings per share for profit from continuing operations









 attributable to the equity holders of the Bank









Basic and diluted


10.39


2.15


22.01


9.73












Earnings per share for profit attributable to the equity









  holders of the Bank









Basic and diluted


10.39


2.17


22.01


9.77

 

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