REG - United Bank Limited - 3rd Quarter Results - United Bank Limited
20/10/2022 12:00
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RNS Number : 5771D United Bank Limited 20 October 2022
Secretary's Department
UBL/BOD-239/PSX/Results-01/22
19 October 2022
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the Nine Months Ended 30 September 2022
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 239(th) meeting held on Wednesday, 19 October 2022 at
Islamabad at 09:30 a.m. inter-alia recommended the following:
(i) Cash Dividend
An Interim Cash Dividend for the nine months ended 30 September 2022 at Rs.4/-
per share i.e. 40%. This is in addition to Interim Dividend already paid at
Rs.9/- per share i.e. 90%
(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, 01 November
2022.
The Share Transfer Books of UBL will remain closed from 02 November 2022 to 04
November 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
Tuesday, 01 November 2022 will be treated in time for the purpose of above
entitlement to the transferees.
The accounts / report of the Bank for the nine months ended 30 September 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 (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022
July - September July - September 2021 January - September January - September 2021
2022 2022
------------------------------------------ (Rupees in '000)
------------------------------------------
Mark-up / return / interest earned 73,458,895 41,307,290 176,306,350 109,058,338
Mark-up / return / interest expensed 45,790,734 22,706,710 103,532,638 55,368,852
Net mark-up / interest income 27,668,161 18,600,580 72,773,712 53,689,486
Non mark-up / interest income
Fee and commission income 3,937,453 3,117,409 11,692,037 9,722,299
Dividend income 214,056 540,036 1,473,559 1,421,194
Foreign exchange income 3,016,173 1,366,963 7,631,091 2,561,521
(Loss) / income from derivatives (25,836) 34,359 (3,349) 43,117
Gain on securities - net 92,241 721,273 666,958 3,265,773
Other income 184,052 73,595 658,822 269,224
Total non mark-up / interest income 7,418,139 5,853,635 22,119,118 17,283,128
Total Income 35,086,300 24,454,215 94,892,830 70,972,614
Non mark-up / Interest expenses
Operating expenses 13,683,016 11,003,494 37,772,363 31,202,319
Workers' Welfare Fund 333,706 257,678 1,033,309 774,856
Other charges 1,827 46,416 17,789 85,910
Total non mark-up / interest expenses 14,018,549 11,307,588 38,823,461 32,063,085
Profit before provisions 21,067,751 13,146,627 56,069,369 38,909,529
Provisions / (reversals) and write-offs - net 4,650,557 (327,125) 5,416,317 (414,521)
Profit before taxation 16,417,194 13,473,752 50,653,052 39,324,050
Taxation 9,517,237 5,710,721 31,891,222 16,563,712
Profit after taxation 6,899,957 7,763,031 18,761,830 22,760,338
----------------------------------------- (Rupees)
-------------------------------------------
Earnings per share - basic and diluted 5.64 6.34 15.33 18.59
ANNEXURE B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022
July - September 2022 July - September 2021 January - September 2022 January - September 2021
------------------------------ (Rupees in '000) ------------------------------
Mark-up / return / interest earned 75,402,959 42,521,814 181,250,545 112,325,882
Mark-up / return / interest expensed 46,479,598 23,133,831 105,336,696 56,603,602
Net mark-up / interest income 28,923,361 19,387,983 75,913,849 55,722,280
Non mark-up / interest income
Fee and commission income 4,285,794 3,412,822 12,658,183 10,533,885
Dividend income 214,057 523,398 918,331 958,470
Foreign exchange income 3,034,467 1,380,152 7,764,244 2,640,885
Income from derivatives 258,263 34,359 959,426 43,117
Gain on securities - net 109,483 407,885 757,431 2,991,492
Other income 279,791 62,950 758,702 249,557
Total non mark-up / interest income 8,181,855 5,821,566 23,816,317 17,417,406
Total income 37,105,216 25,209,549 99,730,166 73,139,686
Non mark-up / interest expenses
Operating expenses 14,436,639 11,869,533 40,427,500 33,662,561
Workers' Welfare Fund 338,190 260,462 1,042,793 782,314
Other charges 1,827 46,416 17,789 85,910
Total non mark-up / interest expenses 14,776,656 12,176,411 41,488,082 34,530,785
Share of (loss) / profit of associates (678,902) 22,575 (627,287) 247,361
Profit before provisions 21,649,658 13,055,713 57,614,797 38,856,262
Provisions / (reversals) and write-offs - net 5,460,852 (707,890) 6,828,622 (865,823)
Profit before taxation from continuing operations 16,188,806 13,763,603 50,786,175 39,722,085
Taxation 9,596,211 5,763,626 32,040,323 16,783,206
Profit after taxation from continuing operations 6,592,595 7,999,977 18,745,852 22,938,879
Discontinued operation
Profit / (loss) from discontinued operation - net of tax 1,082 (1,176,660) 46,870 (1,070,186)
Profit after taxation 6,593,677 6,823,317 18,792,722 21,868,693
Attributable to:
Equity holders of the Bank
from continuing operations 6,513,164 7,932,902 18,425,836 22,814,086
from discontinued operation 1,082 (1,176,660) 46,870 (1,070,186)
6,514,246 6,756,242 18,472,706 21,743,900
Non-controlling interest 79,431 67,075 320,016 124,793
6,593,677 6,823,317 18,792,722 21,868,693
--------------------------------- (Rupees) ---------------------------------
Earnings per share for profit from continuing operations
attributable to the equity holders of the Bank
Basic and diluted 5.32 6.48 15.05 18.64
Earnings per share for profit attributable to the equity
holders of the Bank
Basic and diluted 5.32 5.52 15.09 17.76
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