REG - United Bank Limited - Final Results
25/02/2026 10:15
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RNS Number : 3678U United Bank Limited 25 February 2026
Secretary's Department
UBL/BOD-259/PSX/Results/26
25 February 2026
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange
Road,
Karachi.
Dear Sir,
FNANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2025
We have to inform you that the Board of Directors of the Bank in their 259(th)
meeting held on Wednesday, 25 February 2026 at Islamabad at 10:00 a.m.
inter-alia recommended the following:
(i) Cash Dividend
A Final Cash Dividend for the year ended 31 December 2025 at Rs.8/- per share
i.e.160%. This is in addition to interim cash dividend already paid at Rs.27/-
per share i.e.430%
(ii) Bonus Shares
Nil
(iii) Right Shares
Nil
(iv) Any Other Entitlement / Corporate Action:
Nil
(v) Any Other Price-Sensitive Information:
NIL
Following Statements are attached as:
Annexure-A (Unconsolidated)
1. Standalone Statements of Financial Position
2. Standalone Statements of Profit and Loss
3. Standalone Statement of Changes in Equity
4. Standalone Statements of Cash Flows
Annexure-B (Consolidated)
1. Consolidated Statements of Financial Position
2. Consolidated Statements of Profit and Loss
3. Consolidated Statement of Changes in Equity
4. Consolidated Statements of Cash Flows
The 67(th) Annual General Meeting of the Bank will be held on Thursday 09:30
a.m. 26 March 2026 at Islamabad.
The Share Transfer Books of the Bank will be closed from 20 March 2026 to 26
March 2026 (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
Thursday, 19 March 2026 will be treated in time for the purpose of above
entitlement to the transferees.
Annual Report of the Bank will be transmitted through PUCARS at least 21 days
before the date of Annual General Meeting.
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-1
UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31, 2025
2025 2024
-------------- (Rupees in '000) -----------
ASSETS
Cash and balances with treasury banks 547,646,979 309,745,911
Balances with other banks 57,179,677 59,968,246
Lendings to financial institutions 31,574,547 18,492,483
Investments 9,951,054,650 5,886,894,503
Advances 1,369,366,395 1,443,481,944
Property and equipment 120,546,171 85,246,731
Right-of-use assets 36,198,112 9,896,084
Intangible assets 58,353,831 2,481,475
Deferred tax assets - -
Other assets 448,273,083 246,924,757
12,620,193,445 8,063,132,134
LIABILITIES
Bills payable 58,631,844 44,221,818
Borrowings 6,530,014,720 4,855,373,516
Deposits and other accounts 5,168,424,418 2,640,211,489
Lease liabilities 38,873,814 12,008,797
Subordinated debt 10,000,000 10,000,000
Deferred tax liabilities 135,943,237 38,959,061
Other liabilities 179,573,846 146,135,202
12,121,461,879 7,746,909,883
NET ASSETS 498,731,566 316,222,251
REPRESENTED BY:
Share capital 12,521,239 12,241,797
Reserves 138,517,698 114,734,831
Surplus on revaluation of assets - net 173,025,714 77,289,805
Unappropriated profit 174,666,915 111,955,818
498,731,566 316,222,251
CONTINGENCIES AND COMMITMENTS
ANNEXURE - A-2
UNCONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
-------------- (Rupees in '000) -----------
Mark-up / return / interest earned 1,184,817,602 1,084,582,857
Mark-up / return / interest expensed 823,256,142 911,168,032
Net mark-up / interest income 361,561,460 173,414,825
Non mark-up / interest income
Fee and commission income 27,992,570 18,910,354
Dividend income 2,421,067 1,796,320
Foreign exchange income 17,188,012 12,221,392
(Loss) / Gain from derivatives (523,962) 1,230,801
Gain on securities - net 9,879,011 42,592,701
Capital gain on derecognition of financial assets measured at amortised cost - 2,894,427
Other income 1,042,039 7,848,128
Total non mark-up / interest income 57,998,737 87,494,123
Total Income 419,560,197 260,908,948
Non mark-up / Interest expenses
Operating expenses 130,188,815 94,784,859
Workers' Welfare Fund 5,652,021 3,105,396
Other charges 102,720 75,270
Total non mark-up / interest expenses 135,943,556 97,965,525
Profit before credit loss allowance 283,616,641 162,943,423
(4,653,428)
Credit loss allowance and write-offs - net 12,751,775
Profit before taxation 288,270,069 150,191,648
Taxation 160,261,222 69,664,114
Profit after taxation 128,008,847 80,527,534
------------------- Rupees -------------------
Earnings per share - basic and diluted - Restated 51.33 32.89
ANNEXURE A-3 (1 of 2)
UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2025
Share capital Share Premium Capital Reserve - Exchange Translation Statutory Surplus / (Deficit) on revaluation Unappropriated Profit Total
reserve
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
Balance as at January 01, 2024 - as restated 12,241,797 - 60,922,855 46,878,123 780,037 38,211,793 - 89,138,112 248,172,717
Total comprehensive income for the year ended December 31, 2024
Profit after taxation for the year ended December 31, 2024 - - - - - - - 80,527,534 80,527,534
Other comprehensive income - net of tax - - (1,118,901) - 38,006,924 319,239 1,146 4,177,500 41,385,908
Total comprehensive income for the year ended December 31, 2024 - - (1,118,901) - 38,006,924 319,239 1,146 84,705,034 121,913,442
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - - - - -
net of tax
Transfer of incremental depreciation from revaluation of property and - - - - - (77,583) - 77,583 -
equipment to unappropriated profit - net of tax
Transfer of net loss on disposal of FVOCI equity investments from surplus to - - - - 48,249 - - (48,249) -
unappropriated profit - net of tax
Transfer to statutory reserve - - - 8,052,754 - - - (8,052,754) -
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2023 declared subsequent to the year end at - - - - - - - (13,465,977) (13,465,977)
Rs. 11.0 per share
Interim cash dividend - March 31, 2024 declared at Rs. 11.0 per share - - - - - - - (13,465,977) (13,465,977)
Interim cash dividend - June 30, 2024 declared at Rs. 11.0 per share - - - - - - - (13,465,977) (13,465,977)
Interim cash dividend - September 30, 2024 declared at Rs. 11.0 per share - - - - - - - (13,465,977) (13,465,977)
- - - - - - - (53,863,908) (53,863,908)
Balance as at December 31, 2024 12,241,797 - 59,803,954 54,930,877 38,835,210 38,453,449 1,146 111,955,818 316,222,251
Continued on next page
ANNEXURE A-3 (2 of 2)
UNCONSOLIDATED STATEMENET OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2025
Share capital Share Premium Capital Reserve - Exchange Translation Statutory Surplus / (Deficit) on revaluation Unappropriated Profit Total
reserve
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
- - - - 1,355,745 - - - 1,355,745
Fair Valuation of unlisted equity securities carried at FVOCI
Balance as at January 01, 2025 - as restated 12,241,797 - 59,803,954 54,930,877 40,190,955 38,453,449 1,146 111,955,818 317,577,996
Total comprehensive income for the year ended
December 31, 2025
Profit after taxation for the year ended December 31, 2025 - - - - - - - 128,008,847 128,008,847
Other comprehensive income - net of tax - - 508,221 - 97,091,202 - - 12,099,401 109,698,824
Total comprehensive income for the year ended December 31, 2025 - - 508,221 - 97,091,202 - - 140,108,248 237,707,671
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - - - - -
net of tax
Transfer of incremental depreciation from revaluation of property and - - - - - (71,714) - 71,714 -
equipment to unappropriated profit - net of tax
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (2,639,324) - - 2,639,324 -
unappropriated profit - net of tax
Transfer to statutory reserve - - - 12,800,885 - - - (12,800,885) -
Shares issued under amalgamation 279,442 10,473,761 - - - - - - 10,753,203
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2024 declared subsequent to the year end at - - - - - - - (13,465,977) (13,465,977)
Rs. 11.0 per share
Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share - - - - - - - (13,773,363) (13,773,363)
Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share - - - - - - - (20,033,982) (20,033,982)
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share - - - - - - - (20,033,982) (20,033,982)
- - - - - - - (67,307,304) (67,307,304)
Balance as at December 31, 2025 12,521,239 10,473,761 60,312,175 67,731,762 134,642,833 38,381,735 1,146 174,666,915 498,731,566
Continued on next page
ANNEXURE A-3 (2 of 2)
UNCONSOLIDATED STATEMENET OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2025
Share capital Share Premium Capital Reserve - Exchange Translation Statutory Surplus / (Deficit) on revaluation Unappropriated Profit Total
reserve
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
- - - - 1,355,745 - - - 1,355,745
Fair Valuation of unlisted equity securities carried at FVOCI
Balance as at January 01, 2025 - as restated 12,241,797 - 59,803,954 54,930,877 40,190,955 38,453,449 1,146 111,955,818 317,577,996
Total comprehensive income for the year ended
December 31, 2025
Profit after taxation for the year ended December 31, 2025 - - - - - - - 128,008,847 128,008,847
Other comprehensive income - net of tax - - 508,221 - 97,091,202 - - 12,099,401 109,698,824
Total comprehensive income for the year ended December 31, 2025 - - 508,221 - 97,091,202 - - 140,108,248 237,707,671
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - - - - -
net of tax
Transfer of incremental depreciation from revaluation of property and - - - - - (71,714) - 71,714 -
equipment to unappropriated profit - net of tax
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (2,639,324) - - 2,639,324 -
unappropriated profit - net of tax
Transfer to statutory reserve - - - 12,800,885 - - - (12,800,885) -
Shares issued under amalgamation 279,442 10,473,761 - - - - - - 10,753,203
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2024 declared subsequent to the year end at - - - - - - - (13,465,977) (13,465,977)
Rs. 11.0 per share
Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share - - - - - - - (13,773,363) (13,773,363)
Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share - - - - - - - (20,033,982) (20,033,982)
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share - - - - - - - (20,033,982) (20,033,982)
- - - - - - - (67,307,304) (67,307,304)
Balance as at December 31, 2025 12,521,239 10,473,761 60,312,175 67,731,762 134,642,833 38,381,735 1,146 174,666,915 498,731,566
ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation 288,270,069 150,191,648
Less: Dividend income (2,421,067) (1,796,320)
285,849,002 148,395,328
Adjustments:
Depreciation on property and equipment 9,592,956 5,783,338
Depreciation on right-of-use assets 4,386,127 2,423,781
Depreciation on non-banking assets acquired in satisfaction of claims 13,396 3,226
Depreciation on Islamic financing against leased assets (Ijarah) 172,811 79,527
Amortisation 5,917,680 1,007,926
Workers' Welfare Fund - charge 5,652,021 3,105,396
Provision for retirement benefits - 71,967
Provision for compensated absences 334,824 -
Credit loss allowance against loans and advances - net (4,201,672) 11,253,648
Credit loss allowance against off - balance sheet obligations - net 176,963 1,303,408
Credit loss allowance for diminution in value of investments - net (366,406) (273,241)
Interest expense on lease liability against right-of-use assets 3,607,665 1,469,697
Gain on sale of property and equipment - net (156,735) (232,084)
Loss / (gain) on sale of Ijarah assets - net 234 (1,016)
Gain on sale of subsidiary - (7,083,501)
Bad debts written-off directly 107,914 54,951
Unrealised gain on revaluation of investments classified as FVTPL (250,256) (35,068)
Credit loss allowance against other assets 85,972 476,252
Other credit loss allowance / write-offs 12,107 160,014
25,085,601 19,568,221
310,934,603 167,963,549
(Increase) / decrease in operating assets
Lendings to financial institutions (13,082,064) 15,955,369
Securities classified as FVTPL (42,575,793) 55,025,621
Advances 78,025,851 (841,322,872)
Other assets (excluding advance taxation) (164,479,545) (79,549,100)
(142,111,551) (849,890,982)
Increase / (decrease) in operating liabilities
Bills payable 14,410,026 22,570,034
Borrowings 1,674,641,204 2,039,902,962
Deposits and other accounts 2,528,212,929 289,670,666
Other liabilities 27,121,719 26,869,487
4,244,385,878 2,379,013,149
4,413,208,930 1,697,085,716
Receipts / (payments) on account of staff retirement benefits (1,301,171) 505,144
Workers' Welfare Fund refund 37,126 667,943
Income taxes paid (138,080,539) (82,684,275)
Net cash flow (used in) / generated from operating activities 4,273,864,346 1,615,574,528
Continued on next page
ANNEXURE A-4 (2 of 2)
UNCONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2025 2025 2024
-------------- (Rupees in '000) --------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI (3,465,161,606) (1,521,630,707)
Net investments in amortized cost securities (362,629,183) 40,239,286
Net investments in associates (9,910) -
Net investments in subsidiaries - 1,855,223
Cash acquired through business combination 15,198,229 -
Investment in property and equipment, right of use assets and intangible (152,963,666) (27,037,686)
assets
Investment in non banking assets (76,222) -
Dividend income received 2,394,310 1,796,320
Proceeds realised on sale of subsidiary - 9,053,274
Sale proceeds from disposal of property and equipment and intangible assets 358,922 259,438
Sale proceeds from sale of Ijarah assets 10,411 19,344
Effect of translation of net investment in foreign branches 508,221 (1,118,901)
Net cash flow used in investing activities (3,962,370,494) (1,496,564,409)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liability against right-of-use assets (7,297,972) (3,501,422)
Payment of sub ordinated debt (1,998,400) -
Dividend paid (67,084,981) (53,825,508)
Net cash flow used in financing activities (76,381,353) (57,326,930)
Increase / (decrease) in cash and cash equivalents 235,112,499 61,683,189
Cash and cash equivalents at the beginning of the year 368,320,156 309,603,472
Effect of exchange rate changes on cash and cash equivalents 1,394,001 (1,572,504)
369,714,157 308,030,968
Cash and cash equivalents at the end of the year 604,826,656 369,714,157
ANNEXURE B-1
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31, 2025
2025 2024
----------------- (Rupees in '000) -----------------
ASSETS
Cash and balances with treasury banks 548,709,327 310,836,376
Balances with other banks 57,279,049 59,968,246
Lendings to financial institutions 31,574,547 18,492,483
Investments 9,956,066,916 5,889,765,841
Advances 1,369,366,395 1,443,481,944
Property and equipment 120,927,227 85,591,999
Right-of-use assets 36,813,438 10,231,121
Intangible assets 58,690,656 2,792,016
Deferred tax assets - -
Other assets 449,087,109 247,937,251
12,628,514,664 8,069,097,277
LIABILITIES
Bills payable 58,631,844 44,221,818
Borrowings 6,530,014,720 4,855,373,516
Deposits and other accounts 5,168,089,899 2,639,875,985
Lease liabilities 39,520,412 12,381,018
Subordinated debt 10,000,000 10,000,000
Deferred tax liabilities 136,299,736 39,311,263
Other liabilities 180,666,240 147,125,664
12,123,222,851 7,748,289,264
NET ASSETS 505,291,813 320,808,013
REPRESENTED BY:
Share capital 12,521,239 12,241,797
Reserves 138,517,698 114,734,831
Surplus on revaluation of assets - net 173,003,893 77,309,424
Unappropriated profit 181,178,532 116,472,051
Total equity attributable to the equity holders of the Bank 505,221,362 320,758,103
Non-controlling interest 70,451 49,910
505,291,813 320,808,013
CONTINGENCIES AND COMMITMENTS
ANNEXURE B-2
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
-------- (Rupees in '000) --------
Mark-up / return / interest earned 1,184,861,499 1,084,641,497
Mark-up / return / interest expensed 823,309,408 911,093,616
Net mark-up / interest income 361,552,091 173,547,881
Non-mark-up / interest income
Fee and commission income 32,044,235 21,535,329
Dividend income 2,340,252 1,741,707
Foreign exchange income 17,978,624 12,559,992
(Loss) / gain from derivatives (523,962) 1,230,801
Gain on securities - net 9,878,973 42,592,701
Capital gain on derecognition of financial assets measured at amortised cost - 2,894,427
Other income 986,246 1,139,575
Total non-markup / interest income 62,704,368 83,694,532
Total income 424,256,459 257,242,413
Non-mark-up / interest expenses
Operating expenses 132,959,781 97,104,258
Workers' Welfare Fund 5,703,814 3,145,755
Other charges 104,598 75,270
Total non-mark-up / interest expenses 138,768,193 100,325,283
Share of profit of associates 965,823 895,183
Profit before credit loss allowance 286,454,089 157,812,313
Credit loss allowance and write-offs - net (4,653,428) 12,775,474
Profit before taxation from continuing operations 291,107,517 145,036,839
Taxation 161,087,143 70,198,005
Profit after taxation from continuing operations 130,020,374 74,838,834
Discontinued operation
Profit from discontinued operations - net of tax - 938,610
130,020,374 75,777,444
Attributable to:
Equity holders of the Bank
from continuing operations 129,999,883 74,823,735
from discontinued operation - 332,118
129,999,883 75,155,853
Non-controlling interest
from continuing operations 20,491 15,099
from discontinued operation - 606,492
20,491 621,591
130,020,374 75,777,444
----------------- (Rupees) -----------------
Earnings per share for profit from continuing operations
attributable to the equity holders of the Bank - Restated
Basic and diluted 52.13 30.56
Earnings per share for profit attributable to the equity
holders of the Bank - Restated
Basic and diluted 52.13 30.70
ANNEXURE B-3 (1 of 2)
CONSOLIDATED STATEMENET OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2025
Share capital Share Premium Statutory Reserve Capital Reserve - Exchange Translation Surplus / (Deficit) on revaluation Unappropriated Profit Sub total Non-controlling interest Total
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
Balance as at January 01, 2024 - Restated 12,241,797 - 46,878,123 69,893,293 (192,993) 41,795,310 - 96,024,872 266,640,402 14,904,379 281,544,781
Total comprehensive income for the year ended December 31, 2024
Profit after taxation for the year ended December 31, 2024 - - - - - - - 75,155,853 75,155,853 621,591 75,777,444
Other comprehensive income - net of tax - - - (10,089,339) 38,463,839 252,545 1,146 4,197,565 32,825,756 114,056 32,939,812
Total comprehensive income for the year ended December 31, 2024 - - - (10,089,339) 38,463,839 252,545 1,146 79,353,418 107,981,609 735,647 108,717,256
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - (22,930) - 22,930 - - -
net of tax
Transfer of incremental depreciation from revaluation of property and - - - - - (78,513) - 78,513 - - -
equipment to unappropriated profit - net of tax
Transfer of net loss on disposal of FVOCI equity investments from surplus to - - - - 48,249 - - (48,249) - - -
unappropriated profit - net of tax
Transfer to statutory reserve - - 8,052,754 - - - - (8,052,754) - - -
Derecognition of subsidiary - - - - 535,734 (3,492,963) - 2,957,229 - (15,590,116) (15,590,116)
Transactions with owners for the year ended December 31, 2024, recorded
directly in equity
Final cash dividend - December 31, 2023 declared subsequent to the year end at - - - - - - - (13,465,977) (13,465,977) - (13,465,977)
Rs. 11.0 per share
Interim cash dividend - March 31, 2024 declared at Rs. 11.0 per share - - - - - - - (13,465,977) (13,465,977) - (13,465,977)
Interim cash dividend - June 30, 2024 - - - - - - - (13,465,977) (13,465,977) - (13,465,977)
declared at Rs. 11.0 per share
Interim cash dividend - September 30, 2024 - - - - - - - (13,465,977) (13,465,977) - (13,465,977)
declared at Rs. 11.0 per share
- - - - - - - (53,863,908) (53,863,908) - (53,863,908)
Balance as at December 31, 2024 12,241,797 - 54,930,877 59,803,954 38,854,829 38,453,449 1,146 116,472,051 320,758,103 49,910 320,808,013
Fair valuation of unlisted equity securities carried at FVOCI - - - - 1,355,745 - - - 1,355,745 - 1,355,745
Balance as at January 01, 2025 - as restated 12,241,797 - 54,930,877 59,803,954 40,210,574 38,453,449 1,146 116,472,051 322,113,848 49,910 322,163,758
Total comprehensive income for the year ended December 31, 2025
Profit after taxation for the year ended December 31, 2025 - - - - - - - 129,999,883 129,999,883 20,491 130,020,374
Other comprehensive income - net of tax - - - 508,221 97,049,762 - - 12,103,749 109,661,732 50 109,661,782
Total comprehensive income for the year ended December 31, 2025 - - - 508,221 97,049,762 - - 142,103,632 239,661,615 20,541 239,682,156
Continued on next page
ANNEXURE B-3 (2 of 2)
CONSOLIDATED STATEMENET OF CHANGES IN EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
Share capital Share Premium Statutory Reserve Capital Reserve - Exchange Translation Surplus / (Deficit) on revaluation Unappropriated Profit Sub total Non-controlling interest Total
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
Transfer of incremental depreciation from revaluation of property and - - - - - (71,714) - 71,714 - - -
equipment to unappropriated profit - net of tax
Transfer of net loss on disposal of FVOCI equity investments from surplus to - - - - (2,639,324) - - 2,639,324 - - -
unappropriated profit - net of tax
Transfer to statutory reserve - - 12,800,885 - - - - (12,800,885) - - -
Shares issued under amalgamation 279,442 10,473,761 - - - - - - 10,753,203 - 10,753,203
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2024 declared subsequent to the year end at - - - - - - - (13,465,977) (13,465,977) - (13,465,977)
Rs. 11.0 per share
Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share - - - - - - - (13,773,363) (13,773,363) - (13,773,363)
Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share - - - - - - - (20,033,982) (20,033,982) - (20,033,982)
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share - - - - - - - (20,033,982) (20,033,982) - (20,033,982)
- - - - - - - (67,307,304) (67,307,304) - (67,307,304)
Balance as at December 31, 2025 12,521,239 10,473,761 67,731,762 60,312,175 134,621,012 38,381,735 1,146 181,178,532 505,221,362 70,451 505,291,813
ANNEXURE B-4 (1 of 2)
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
--------- (Rupees in '000) ---------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation including discontinued operations 291,107,517 145,036,839
Less: Dividend income (2,340,252) (1,741,707)
Less: Share of profit of associates (965,823) (895,183)
287,801,442 142,399,949
Adjustments:
Depreciation on property and equipment 9,694,788 5,849,218
Depreciation on right-of-use assets 4,465,536 2,520,644
Depreciation on non-banking assets acquired in satisfaction of claims 13,396 3,226
Depreciation on Islamic financing against leased assets (Ijarah) 172,811 79,527
Amortisation 5,934,281 1,022,553
Workers' Welfare Fund - charge 5,703,814 3,145,755
Provision for retirement benefits 21,083 91,706
Provision for compensated absences 334,824 -
Credit loss allowance against loans and advances - net (4,201,672) 11,253,648
Credit loss allowance against off - balance sheet obligations - net 176,963 1,303,408
Credit loss allowance for diminution in value of investments - net (366,406) (15,723,998)
Interest expense on lease liability against right-of-use assets 3,680,910 1,504,645
Gain on sale of operating property and equipment - net (156,801) (234,287)
Transfer of exchange translation reserve to profit and loss on derecognition - (8,706,711)
of subsidiary
Gain on sale of Ijarah assets - net 234 (1,016)
Bad debts written off directly 107,914 54,951
Unrealised gain on revaluation of investments classified as FVPL (250,256) (35,068)
Credit loss allowance against other assets 85,972 476,252
Other provisions / write-offs 12,107 160,014
25,429,498 2,764,467
313,230,940 145,164,416
(Increase) / decrease in operating assets
Lendings to financial institutions (13,082,064) 20,823,787
Securities classified as FVTPL (42,575,793) 55,025,621
Advances 78,025,851 (582,847,466)
Other assets (excluding advance taxation) (164,125,439) (79,237,101)
(141,757,445) (586,235,159)
Increase / (decrease) in operating liabilities
Bills payable 14,410,026 22,487,287
Borrowings 1,674,641,204 2,031,485,602
Deposits and other accounts 2,528,213,914 5,159,883
Other liabilities 27,673,094 27,144,404
4,244,938,238 2,086,277,176
4,416,411,733 1,645,206,433
Payments on account of staff retirement benefits (1,168,832) (5,669,400)
Workers' Welfare Fund refund 33,291 667,943
Income taxes paid (139,002,133) (84,229,275)
Net cash flow generated from / (used in) operating activities 4,276,274,059 1,555,975,701
Continued on next page
ANNEXURE B-4 (2 of 2)
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
----------------- (Rupees in '000) -----------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI (3,465,426,978) (1,453,132,892)
Net investments in amortized cost securities (362,629,183) 40,239,285
Net investments in associates (1,184,206) (811,921)
Cash acquired through business combination 15,198,229 -
Investment in property and equipment and intangible assets (153,631,779) (16,615,615)
Investment in non banking assets (76,222) -
Dividend income received 2,313,495 1,741,707
Sale proceeds from disposal of property and equipment and intangible assets 363,935 358,842
Sale proceeds from sale of Ijarah assets 10,411 19,344
Effect of translation of net investment in overseas branches and subsidiaries 508,221 (10,307,279)
Net cash flow used in investing activities (3,964,554,077) (1,438,508,529)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liability against right-of-use assets (7,452,847) (3,623,173)
Payment of subordinated debt (1,998,400) -
Dividend paid (67,084,981) (53,825,508)
Net cash flow used in financing activities (76,536,228) (57,448,681)
235,183,754 60,018,491
Increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year 369,404,910 312,451,157
Effect of exchange rate changes on cash and cash equivalents 1,399,712 (1,665,026)
370,804,622 310,786,131
Cash and cash equivalents at the end of the year 605,988,376 370,804,622
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