REG - United Bank Limited - 1st Quarter Results of United Bank Limited

United BankAnnouncement

20/04/2022 10:15

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RNS Number : 7399I  United Bank Limited  20 April 2022

 
 
              Secretary's Department

             UBL/BOD-237/PSX/Results/22

             20 April 2022

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange
Road,

Karachi.

 

Dear Sir,

Financial Results for the 1(st) Quarter Ended 31 March 2022

We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 237(th) meeting held on Wednesday, 20 April 2022 at Islamabad
at 10:00 a.m. inter-alia approved the following:

(i)            Cash Dividend

 

An Interim Cash Dividend for the quarter ended 31 March 2022 at Rs.5/- per
share i.e.50%.

 

(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 Wednesday, 04 May
2022.

The Share Transfer Books of UBL will remain closed from 05 May 2022 to 07 May
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 Wednesday,
04 May 2022 will be treated in time for the purpose of above entitlement to
the transferees.

The accounts / report of the Bank for the 1(st)Quarter ended 31 March 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

FOR THE THREE MONTHS ENDED MARCH 31, 2022

 

 

                                          January - March 2022                   January - March 2021
                                         -------------- (Rupees in '000) ---------

 Mark-up / return / interest earned         47,956,205                           31,825,591
 Mark-up / return / interest expensed    26,483,283                              14,967,726
 Net mark-up / interest income                21,472,922                         16,857,865

 Non mark-up / interest income
 Fee and commission income               3,918,955                               3,040,522
 Dividend income                         903,660                                 252,416
 Foreign exchange income                 1,282,724                               484,228
 (Loss) / income from derivatives        (37,777)                                7,254
 Gain on securities - net                428,251                                 1,866,938
 Other income                            284,328                                 132,023
 Total non-mark-up / interest income     6,780,141                               5,783,381
 Total income                            28,253,063                              22,641,246

 Non mark-up / interest expenses
 Operating expenses                      11,727,972                              9,852,826
 Workers' Welfare Fund                   325,121                                 244,895
 Other charges                           5,628                                   24,547
 Total non mark-up / interest expenses   12,058,721                              10,122,268

 Profit before provisions                16,194,342                              12,518,978
 Provisions and write-offs- net          347,289                                 354,071

 Profit before taxation                  15,847,053                              12,164,907

 Taxation                                6,319,346                               4,760,230

 Profit after taxation                   9,527,707                               7,404,677

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

 Earnings per share - basic and diluted  7.78                                    6.05

 

 

 

Annexure B

CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT

FOR THE THREE MONTHS ENDED MARCH 31, 2022

 

                                                                          January - March                    January - March

                                                                        2022                                 2021
                                                                        ------------ (Rupees in '000) ------------

 Mark-up / return / interest earned                                     49,331,822                              32,930,550
 Mark-up / return / interest expensed                                   26,968,429                                15,425,644
 Net mark-up / interest income                                          22,363,393                                17,504,906

 Non mark-up / interest income
 Fee and commission income                                              4,217,459                            3,469,334
 Dividend income                                                        529,805                              252,206
 Foreign exchange income                                                1,343,333                            524,508
 (Loss) / income from derivatives                                       (37,777)                              7,254
 Gain on securities - net                                               446,406                              1,874,072
 Other income                                                           276,502                              127,885
 Total non mark-up / interest income                                    6,775,728                                  6,255,259
 Total income                                                           29,139,121                                 23,760,165

 Non mark-up / interest expenses
 Operating expenses                                                     12,687,006                           10,784,633
 Workers' Welfare Fund                                                  328,032                              248,494
 Other charges                                                          5,628                                24,547
 Total non mark-up / interest expenses                                  13,020,666                           11,057,674

 Share of (loss) / profit of associates                                 (47,166)                             152,002
 Profit before provisions                                               16,071,289                           12,854,493
 Provisions and write-offs - net                                        334,109                              376,332
 Profit before taxation from continuing operations                      15,737,180                           12,478,161

 Taxation                                                               6,364,518                            4,892,227

 Profit after taxation from continuing operations                       9,372,662                            7,585,934

 Discontinued operation

 Profit / (loss) from discontinued operation - net of tax               22,172                               (33)

                                                                        9,394,834                            7,585,901
 Attributable to:
 Equity holders of the Bank
       from continuing operations                                       9,281,926                            7,598,730
       from discontinued operation                                      22,172                               (33)
                                                                        9,304,098                            7,598,697
 Non-controlling interest                                               90,736                               (12,796)
                                                                        9,394,834                            7,585,901

                                                                        ------------------- (Rupees) -------------------
 Earnings per share for profit from continuing operations attributable  7.58                                 6.21

         to the equity holders of the Bank

         Basic and diluted

 Earnings per share for profit attributable to the equity               7.60                                 6.21

         holders of the Bank

         Basic and diluted

 

 

 

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