REG - United Bank Limited - 3rd Quarter Results - United Bank Limited

United BankAnnouncement

20/10/2021 11:20

RNS Number : 6803P
  
United Bank Limited
  
20 October 2021
  
 

                                                                                                                     Secretary's Department
             UBL/BOD-234/PSX/Results/21
             20 October 2021
The General Manager                    
Pakistan Stock Exchange Limited 
Stock Exchange Building,
Stock Exchange Road,                                                                                                                                                  
Karachi.
 
Dear Sir,
Financial Results for the Quarter Ended 30 September 2021
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 234th meeting held on Wednesday, 20 October 2021 at 10:00 a.m. inter-alia recommended the following:
(i)            Cash Dividend
 
An Interim Cash Dividend for the quarter ended 30 September 2021 at Rs.4/- per share i.e.40%. This is in addition to interim Dividend already paid at Rs.8/- per share i.e. 80%.
 
(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, 01 November 2021.
The Share Transfer Books of UBL will remain closed from 02 November 2021 to 04 November 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 Monday, 01 November 2021 will be treated in time for the purpose of above entitlement to the transferees.
The accounts / report of the Bank for the quarter ended 30 September 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)    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 NINE MONTHS ENDED SEPTEMBER 30, 2021




 


 


 


 


 July - September  2021 


 


 July - September  2020 


 


 January - September  2021 


 


 January - September  2020 




 


 


 


 


 


 


 




 


 


 


 


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




 


 


 


 


 


 


 


 


 


 


 




Mark-up / return / interest earned


 


41,307,290 


 


34,467,338 


 


109,058,338 


 


120,915,352 




Mark-up / return / interest expensed


 


22,706,710 


 


15,376,038 


 


55,368,852 


 


62,703,242 




Net mark-up / interest income


 


18,600,580 


 


19,091,300 


 


53,689,486 


 


58,212,110 




 


 


 


 


 


 


 


 


 


 


 




Non mark-up / interest income


 


 


 


 


 


 


 


 




Fee and commission income


 


3,117,409 


 


2,712,495 


 


9,722,299 


 


7,960,804 




Dividend income


 


540,036 


 


112,680 


 


1,421,194 


 


906,008 




Foreign exchange income 


 


1,366,963 


 


1,211,353 


 


2,561,521 


 


2,943,970 




Income / (loss) from derivatives


 


34,359 


 


(148,696)


 


43,117 


 


(162,204)




Gain on securities - net


 


721,273 


 


112,555 


 


3,265,773 


 


788,892 




Other income 


 


73,595 


 


104,940 


 


269,224 


 


596,453 




Total non mark-up / interest income


 


5,853,635 


 


4,105,327 


 


17,283,128 


 


13,033,923 




Total Income


 


24,454,215 


 


23,196,627 


 


70,972,614 


 


71,246,033 




 


 


 


 


 


 


 


 


 


 


 




Non mark-up / Interest expenses


 


 


 


 


 


 


 


 




Operating expenses


 


11,003,494 


 


9,888,544 


 


31,202,319 


 


29,051,763 




Workers' Welfare Fund


 


257,678 


 


200,734 


 


774,856 


 


700,009 




Other charges


 


46,416 


 


7,995 


 


85,910 


 


160,328 




Total non mark-up / interest expenses


 


11,307,588 


 


10,097,273 


 


32,063,085 


 


29,912,100 




 


 


 


 


 


 


 


 


 


 


 




Profit before provisions


 


13,146,627 


 


13,099,354 


 


38,909,529 


 


41,333,933 




(Reversals) / provisions and write-offs - net


 


(327,125)


 


5,456,793 


 


(414,521)


 


14,886,614 




 


 


 


 


 


 


 


 


 


 


 




PROFIT BEFORE TAXATION


 


13,473,752 


 


7,642,561 


 


39,324,050 


 


26,447,319 




 


 


 


 


 


 


 


 


 


 


 




Taxation 


 


 


5,710,721 


 


2,973,997 


 


16,563,712 


 


10,377,977 




 


 


 


 


 


 


 


 


 


 


 




PROFIT AFTER TAXATION


 


7,763,031 


 


4,668,564 


 


22,760,338 


 


16,069,342 




 


 


 


 


 


 


 


 


 


 


 




 


 


 


 


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




 


 


 


 


 


 


 


 


 


 


 




Earnings per share - basic and diluted


 


6.34


 


3.81


 


18.59


 


13.13 



 
 
 
 
 
 
 
 
 
 
 
 



 
 
ANNEXURE B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021
 




 


 


 


 


July - September 2021 


 


 July - September 2020 


 


 January - September 2021 


 


 January - September 2020 




 


 


 


 


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




 


 


 


 


 


 


 


 


 


 


 




Mark-up / return / interest earned


 


42,521,814 


 


35,490,384


 


112,325,882


 


123,933,330




Mark-up / return / interest expensed


 


23,133,831 


 


15,834,511


 


56,603,602


 


64,208,325




Net mark-up / interest income


 


19,387,983


 


19,655,873


 


55,722,280


 


59,725,005




 


 


 


 


 


 


 


 


 


 


 




Non mark-up / interest income


 


 


 


 


 


 


 


 




Fee and commission income


 


3,412,822


 


3,097,741


 


10,533,885


 


9,250,333




Dividend income


 


523,398


 


112,680


 


958,470


 


508,512




Foreign exchange income 


 


1,380,152


 


1,230,465


 


2,640,885


 


3,051,817




Income / (loss) from derivatives


 


34,359


 


(148,696)


 


43,117


 


(162,204)




Gain on securities - net


 


407,885


 


123,249


 


2,991,492


 


981,510




Other income 


 


62,950


 


103,952


 


249,557


 


592,901




Total non mark-up / interest income


 


5,821,566


 


4,519,391


 


17,417,406


 


14,222,869




Total income


 


25,209,549


 


24,175,264


 


73,139,686


 


73,947,874




 


 


 


 


 


 


 


 


 


 


 




Non mark-up / interest expenses


 


 


 


 


 


 


 


 




Operating expenses


 


11,869,533


 


10,816,783


 


33,662,561


 


31,763,352




Workers' Welfare Fund


 


260,462


 


203,365


 


782,314


 


706,298




Other charges


 


46,416


 


7,995


 


85,910


 


160,328




Total non mark-up / interest expenses


 


12,176,411


 


11,028,143


 


34,530,785


 


32,629,978




 


 


 


 


 


 


 


 


 


 


 




Share of profit of associates


 


22,575


 


130,795


 


247,361


 


174,924




Profit before provisions


 


13,055,713


 


13,277,916


 


38,856,262


 


41,492,820




(Reversals) / provisions and write-offs - net


 


(707,890)


 


5,500,626


 


(865,823)


 


15,453,220




Profit before taxation from continuing operations


 


13,763,603


 


7,777,290


 


39,722,085


 


26,039,600




 


 


 


 


 


 


 


 


 


 


 




Taxation 


 


 


5,763,626


 


3,120,302


 


16,783,206


 


10,646,054




 


 


 


 


 


 


 


 


 


 


 




Profit after taxation from continuing operations


 


7,999,977


 


4,656,988


 


22,938,879


 


15,393,546




 


 


 


 


 


 


 


 


 


 


 




Discontinued operations


 


 


 


 


 


 


 


 




 


 


 


 


 


 


 


 


 


 


 




Loss from discontinued operations - net of  tax


 


(1,176,660)


 


(760)


 


(1,070,186) 


 


(11,031)




 


 


 


 


 


 


 


 


 


 


 




Profit after taxation


 


6,823,317


 


4,656,228


 


21,868,693


 


15,382,515




 


 


 


 


 


 


 


 


 


 


 




Attributable to:


 


 


 


 


 


 


 


 




Equity holders of the Bank


 


 


 


 


 


 


 


 




 from continuing operations


 


7,932,902


 


4,721,538


 


22,814,086


 


15,677,919 




 from discontinued operations


 


(1,176,660)


 


(760)


 


(1,070,186) 


 


(11,031)




 


 


 


 


6,756,242


 


4,720,778


 


21,743,900


 


15,666,888




Non-controlling interest


 


67,075


 


(64,550)


 


124,793


 


(284,373)




 


 


 


 


6,823,317


 


4,656,228


 


21,868,693


 


15,382,515




 


 


 


 


 


 


 


 


 


 


 




 


 


 


 


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




Earnings per share for profit from continuing operations 


 


 


 


 


 


 


 


 




 attributable to the ordinary equity holders of the Bank


 


 


 


 


 


 


 


 




Basic and diluted


 


6.48


 


3.86


 


18.64


 


12.81




 


 


 


 


 


 


 


 


 


 


 




Earnings per share for profit attributable to the ordinary 


 


 


 


 


 


 


 


 




 equity holders of the Bank


 


 


 


 


 


 


 


 




Basic and diluted


 


5.52


 


3.86


 


17.76


 


12.80




 
 
 
 
 

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