REG - United Bank Limited - 1st Quarter Results - United Bank Limited
17/04/2024 12:00
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RNS Number : 9974K United Bank Limited 17 April 2024
Secretary's Department
UBL/BOD-249/PSX/Results/24
17 April 2024
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 2024
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 249(th) meeting held on Wednesday, 17 April 2024 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 2024 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 Friday, 26 April 2024.
The Share Transfer Books of UBL will remain closed from 29 April 2024 to 01
May 2024 (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
Friday, 26 April 2024 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 2024
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 THREE MONTHS ENDED MARCH 31, 2024
January -March January - March
2024 2023
---------- (Rupees in '000) ----------
Mark-up / return / interest earned 238,626,523 89,837,039
Mark-up / return / interest expensed 212,012,393 56,581,978
Net mark-up / interest income 26,614,130 33,255,061
Non-mark-up / interest income
Fee and commission income 5,269,354 4,337,566
Dividend income 473,165 475,449
Foreign exchange income 2,675,845 4,346,597
(Loss) / income from derivatives (64,846) 21,494
Gain / (loss) on securities - net 12,808,746 (639,894)
Net loss on derecognition of financial assets measured at amortised cost (947,561) -
Other income 181,837 240,189
Total non-mark-up / interest income 20,396,540 8,781,401
Total income 47,010,670 42,036,462
Non-mark-up / interest expenses
Operating expenses 17,609,729 14,525,160
Workers' Welfare Fund 668,478 496,085
Other charges 866 1,521
Total non-mark-up / interest expenses 18,279,073 15,022,766
Profit before credit loss allowance 28,731,597 27,013,696
(1,719,712) 2,614,591
Credit loss allowance and write-offs - net
Profit before taxation 30,451,309 24,399,105
Taxation 14,862,852 10,496,365
Profit after taxation 15,588,457 13,902,740
---------- (Rupees) ----------
Earnings per share - basic and diluted 12.73 11.36
Annexure B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2024
January -March January - March
2024 2023
---------- (Rupees in '000) ----------
Mark-up / return / interest earned 243,023,585 92,568,156
Mark-up / return / interest expensed 214,922,381 57,620,727
Net mark-up / interest income 28,101,204 34,947,429
Non-mark-up / interest income
Fee and commission income 5,937,228 4,781,571
Dividend income 473,165 475,449
Foreign exchange income 2,718,981 4,438,640
Loss from derivatives (64,846) (37,606)
Gain / (loss) on securities - net 12,828,808 (637,132)
Net loss on derecognition of financial assets measured at amortised cost (947,561) -
Other income 330,474 234,196
Total non-mark-up / interest income 21,276,249 9,255,118
Total income 49,377,453 44,202,547
Non-mark-up / interest expenses
Operating expenses 19,190,077 15,719,975
Workers' Welfare Fund 676,423 500,158
Other charges 866 1,521
Total non-mark-up / interest expenses 19,867,366 16,221,654
Share of loss of associates (48,299) (158,245)
Profit before credit loss allowance 29,461,788 27,822,648
Credit loss allowance and write-offs - net (1,717,889) 2,714,605
Profit before taxation 31,179,677 25,108,043
Taxation 15,040,768 10,637,315
Profit after taxation 16,138,909 14,470,728
Attributable to:
Equity holders of the Bank 15,977,409 14,226,896
Non-controlling interest 161,500 243,832
16,138,909 14,470,728
---------- (Rupees) ----------
13.05 11.62
Earnings per share - basic and diluted
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