REG - United Bank Limited - 3rd Quarter Results
25/10/2023 11:00
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RNS Number : 2720R United Bank Limited 25 October 2023
Secretary's Department
UBL/BOD-246/PSX/Results/23
25 October 2023
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange
Road,
Karachi.
Dear Sir,
Financial Results for the 3(rd) Quarter Ended 30 September 2023
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 246(th) meeting held on Wednesday, 25 October 2023 at
Islamabad at 10:00 a.m. inter-alia approved the following:
(i) Cash Dividend
An Interim Cash Dividend for the 3(rd) Quarter ended 30 September 2023 at
Rs.11/- per share i.e. 110%. This is addition to interim Dividend already paid
at Rs.22/- per share i.e. 220%
(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, 06 November
2023
The Share Transfer Books of UBL will remain closed from 07 November 2023 to 09
November 2023 (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
Monday, 06 November 2023 will be treated in time for the purpose of above
entitlement to the transferees.
The accounts / report of the Bank for the 3(rd) Quarter ended 30 September
2023 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, 2023
July - September 2023 July - September 2022 January - September 2023 January - September 2022
------------------------------------------ (Rupees in '000)
------------------------------------------
Mark-up / return / interest earned 147,350,437 73,458,895 337,213,439 176,306,350
Mark-up / return / interest expensed 109,574,476 45,790,734 230,576,398 103,532,638
Net mark-up / interest income 37,775,961 27,668,161 106,637,041 72,773,712
Non mark-up / interest income
Fee and commission income 4,290,282 3,937,453 13,061,887 11,692,037
Dividend income 219,638 214,056 1,211,050 1,473,559
Foreign exchange income 2,228,965 3,016,173 9,136,511 7,631,091
Income / (loss) from derivatives 168,164 (25,836) 28,648 (3,349)
(Loss) / gain on securities - net (6,221,102) 92,241 (11,147,960) 666,958
Other income 241,348 184,052 835,267 658,822
Total non mark-up / interest income 927,295 7,418,139 13,125,403 22,119,118
Total Income 38,703,256 35,086,300 119,762,444 94,892,830
Non mark-up / Interest expenses
Operating expenses 17,057,279 13,683,016 46,962,707 37,772,363
Workers' Welfare Fund 515,376 333,706 1,550,062 1,033,309
Other charges 28,138 1,827 32,203 17,789
Total non mark-up / interest expenses 17,600,793 14,018,549 48,544,972 38,823,461
Profit before provisions 21,102,463 21,067,751 71,217,472 56,069,369
(Reversals) / Provisions and write-offs - net (7,370,015) 4,650,557 (7,833,184) 5,416,317
Profit before taxation 28,472,478 16,417,194 79,050,656 50,653,052
Taxation 13,926,053 9,517,237 38,185,072 31,891,222
Profit after taxation 14,546,425 6,899,957 40,865,584 18,761,830
--------------------------------------------- (Rupees)
---------------------------------------------
Earnings per share - basic and diluted 11.88 5.64 33.38 15.33
ANNEXURE B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023
July - September 2023 July - September 2022 January - September 2023 January - September 2022
------------------------------ (Rupees in '000) ------------------------------
Mark-up / return / interest earned 151,129,050 75,402,959 346,949,346 181,250,545
Mark-up / return / interest expensed 111,569,381 46,479,598 235,054,918 105,336,696
Net mark-up / interest income 39,559,669 28,923,361 111,894,428 75,913,849
Non-mark-up / interest income
Fee and commission income 4,892,214 4,285,794 14,612,311 12,658,183
Dividend income 216,177 214,057 1,120,477 918,331
Foreign exchange income 2,313,587 3,034,467 9,369,247 7,764,244
(Loss) / income from derivatives 165,972 258,263 (43,211) 959,426
(Loss) / gain on securities - net (7,848,511) 109,483 (12,767,227) 757,431
Other income 239,313 279,791 826,684 758,702
Total non-markup / interest income (21,248) 8,181,855 13,118,281 23,816,317
Total income 39,538,421 37,105,216 125,012,709 99,730,166
Non-mark-up / interest expenses
Operating expenses 18,579,359 14,436,639 51,021,451 40,427,500
Workers' Welfare Fund 515,389 338,190 1,559,009 1,042,793
Other charges 28,138 1,827 32,203 17,789
Total non-mark-up / interest expenses 19,122,886 14,776,656 52,612,663 41,488,082
Share of loss from associates (446,558) (678,902) (820,959) (627,287)
Profit before provisions 19,968,977 21,649,658 71,579,087 57,614,797
(Reversals) / provisions and write-offs - net (9,124,579) 5,460,852 (9,535,408) 6,828,622
Profit before taxation from continuing operations 29,093,556 16,188,806 81,114,495 50,786,175
Taxation 14,048,130 9,596,211 38,546,968 32,040,323
Profit after taxation from continuing operations 15,045,426 6,592,595 42,567,527 18,745,852
Discontinued operations
Profit from discontinued operations - net of tax - 1,082 - 46,870
Profit after taxation 15,045,426 6,593,677 42,567,527 18,792,722
Attributable to:
Equity holders of the Bank
from continuing operations 14,737,205 6,513,164 41,680,502 18,425,836
from discontinued operations - 1,082 - 46,870
14,737,205 6,514,246 41,680,502 18,472,706
Non-controlling interest 308,221 79,431 887,025 320,016
15,045,426 6,593,677 42,567,527 18,792,722
--------------------------------------- (Rupees)
---------------------------------------
Earnings per share for profit from continuing operations
attributable to the equity holders of the Bank
Basic and diluted 12.04 5.32 34.05 15.05
Earnings per share for profit attributable to the equity
holders of the Bank
Basic and diluted 12.04 5.32 34.05 15.09
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