REG - United Bank Limited - Financial Results for the Half Year Ended 30-06-23
19/07/2023 13:15
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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 244(th) 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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