REG - United Bank Limited - 1st Quarter Results of United Bank Limited
Secretary's Department
UBL/BOD-232/PSX/Results/21
21 April 2021
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the 1stQuarter Ended 31 March 2021
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 232nd meeting held on Wednesday, 21 April 2021 at 03:00 p.m. inter-alia recommended the following:
(i) Cash Dividend
An Interim Cash Dividend for the 1stquarter ended 31 March 2021 at Rs.4/- per share i.e. 40%.
(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, 11 May 2021.
The Share Transfer Books of UBL will remain closed from 12 May 2021 to 19 May 2021 (both days inclusive). Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, Plot No. C-32, Jami Commercial Street-2 D.H.A. Phase-VII Karachi-75400 at the close of business on Tuesday, 11 May 2021 will be treated in time for the purpose of above entitlement to the transferees.
The accounts / report of the Bank for the 1stQuarter ended 31 March 2021 will be transmitted through PUCARS separately, within stipulated time.
Yours faithfully,
Sd/-
Aqeel Ahmed Nasir
Company Secretary &
Chief Legal Counsel
C.C. to:
1) Citibank N.A.1st Floor Custodian Department of UBL GDRs
AWT Plaza I. I. Chundrigar Road Karachi.
2) London Stock Exchange.
3) 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 THREE MONTHS ENDED MARCH 31, 2021
January - March
2021
January -March
2020
-------------- (Rupees in '000) --------------
Mark-up / return / interest earned
31,825,591
43,380,353
Mark-up / return / interest expensed
14,967,726
26,037,828
Net mark-up / interest income
16,857,865
17,342,525
Non mark-up / interest income
Fee and commission income
3,040,522
3,035,253
Dividend income
252,416
393,897
Foreign exchange income
484,228
732,424
Income / (loss) from derivatives
7,254
(11,274)
Gain on securities - net
1,866,938
342,219
Other income
132,023
173,350
Total non mark-up / interest income
5,783,381
4,665,869
Total income
22,641,246
22,008,394
Non mark-up / interest expenses
Operating expenses
9,852,826
9,473,593
Workers' Welfare Fund
244,895
218,300
Other charges
24,547
181,039
Total non mark-up / interest expenses
10,122,268
9,872,932
Profit before provisions
12,518,978
12,135,462
Provisions and write-offs - net
354,071
3,700,454
Profit before taxation
12,164,907
8,435,008
Taxation
4,760,230
3,375,027
Profit after taxation
7,404,677
5,059,981
----------- (Rupees) -----------
Earnings per share - basic and diluted
6.05
4.13
Annexure B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT
FOR THE THREE MONTHS ENDED MARCH 31, 2021
January - March 2021
January - March 2020
------------ (Rupees in '000) ------------
Mark-up / return / interest earned
32,930,550
44,374,183
Mark-up / return / interest expensed
15,425,644
26,584,742
Net mark-up / interest income
17,504,906
17,789,441
Non mark-up / interest income
Fee and commission income
3,469,334
3,510,113
Dividend income
252,206
177,699
Foreign exchange income
524,508
770,976
Income / (loss) from derivatives
7,254
(11,274)
Gain on securities - net
1,874,072
458,052
Other income
127,885
174,599
Total non mark-up / interest income
6,255,259
5,080,165
Total income
23,760,165
22,869,606
Non mark-up / interest expenses
Operating expenses
10,784,633
10,314,814
Workers' Welfare Fund
248,494
219,422
Other charges
24,547
181,039
Total non mark-up / interest expenses
11,057,674
10,715,275
Share of profit / (loss) of associates
152,002
(147,536)
Profit before provisions
12,854,493
12,006,795
Provisions and write-offs - net
376,332
3,701,317
Profit before taxation from continuing operations
12,478,161
8,305,478
Taxation
4,892,227
3,400,320
Profit after taxation from continuing operations
7,585,934
4,905,158
Discontinued operation
(Loss) / profit from discontinued operation - net of tax
(33)
6,505
7,585,901
4,911,663
Attributable to:
Equity holders of the Bank
from continuing operations
7,598,730
4,871,117
from discontinued operation
(33)
6,505
7,598,697
4,877,622
Non-controlling interest
(12,796)
34,041
7,585,901
4,911,663
------------------- (Rupees) -------------------
Earnings per share for profit from continuing operations attributable
to the ordinary equity holders of the Bank
Basic and diluted
6.21
3.98
Earnings per share for profit attributable to the ordinary equity
holders of the Bank
Basic and diluted
6.21
3.98
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