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RNS Number : 8057U United Bank Limited 03 August 2022
Secretary's Department
UBL/BOD-238/PSX/Results/22
03 August 2022
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange
Road,
Karachi.
Dear Sir,
Financial Results for the Half Year Ended 30 June 2022
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 238(th) meeting held on Wednesday, 03 August 2022 at
Islamabad at 09:30 a.m. inter-alia recommended the following:
(i) Cash Dividend
An Interim Cash Dividend for the Half Year ended 30 June 2022 at Rs.4/- per
share i.e.40%.
This is addition to interim Dividend already paid at Rs.5/- per share i.e. 50%
(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, 16 August
2022.
The Share Transfer Books of UBL will remain closed from 17 August 2022 to 19
August 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, 16 August 2022 will be treated in time for the purpose of above
entitlement to the transferees.
The accounts / report of the Bank for the Half Year ended 30 June 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 SIX MONTHS ENDED JUNE 30, 2022
April - June 2022 April - June 2021 January - June 2022 January - June 2021
------------------------------------------ (Rupees in '000)
------------------------------------------
Mark-up / return / interest earned 54,891,250 35,925,457 102,847,455 67,751,048
Mark-up / return / interest expensed 31,258,621 17,694,416 57,741,904 32,662,142
Net mark-up / interest income 23,632,629 18,231,041 45,105,551 35,088,906
Non mark-up / interest income
Fee and commission income 3,835,629 3,564,368 7,754,584 6,604,890
Dividend income 355,843 628,742 1,259,503 881,158
Foreign exchange income 3,332,194 710,330 4,614,918 1,194,558
Income from derivatives 60,264 1,504 22,487 8,758
Gain on securities - net 146,466 677,562 574,717 2,544,500
Other income 190,442 63,606 474,770 195,629
Total non mark-up / interest income 7,920,838 5,646,112 14,700,979 11,429,493
Total Income 31,553,467 23,877,153 59,806,530 46,518,399
Non mark-up / Interest expenses
Operating expenses 12,361,375 10,345,999 24,089,347 20,198,825
Workers' Welfare Fund 374,482 272,283 699,603 517,178
Other charges 10,334 14,947 15,962 39,494
Total non mark-up / interest expenses 12,746,191 10,633,229 24,804,912 20,755,497
Profit before provisions 18,807,276 13,243,924 35,001,618 25,762,902
Provisions / (reversals) and write-offs - net 418,471 (441,467) 765,760 (87,396)
Profit before taxation 18,388,805 13,685,391 34,235,858 25,850,298
Taxation 16,054,639 6,092,761 22,373,985 10,852,991
Profit after taxation 2,334,166 7,592,630 11,861,873 14,997,307
----------- (Rupees) -----------
Earnings per share - basic and diluted 1.91 6.20 9.69 12.25
ANNEXURE B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2022
April - June 2022 April - June 2021 January - June 2022 January - June 2021
------------------------------ (Rupees in '000) ------------------------------
Mark-up / return / interest earned 56,515,764 36,873,518 105,847,586 69,804,068
Mark-up / return / interest expensed 31,888,669 18,044,127 58,857,098 33,469,771
Net mark-up / interest income 24,627,095 18,829,391 46,990,488 36,334,297
Non mark-up / interest income
Fee and commission income 4,154,930 3,651,729 8,372,389 7,121,063
Dividend income 174,469 182,866 704,274 435,072
Foreign exchange income 3,386,444 736,225 4,729,777 1,260,733
Income from derivatives 738,940 1,504 701,163 8,758
Gain on securities - net 201,542 709,535 647,948 2,583,607
Other income 202,409 58,722 478,911 186,607
Total non mark-up / interest income 8,858,734 5,340,581 15,634,462 11,595,840
Total income 33,485,829 24,169,972 62,624,950 47,930,137
Non mark-up / interest expenses
Operating expenses 13,303,855 11,008,395 25,990,861 21,793,028
Workers' Welfare Fund 376,571 273,358 704,603 521,852
Other charges 10,334 14,947 15,962 39,494
Total non mark-up / interest expenses 13,690,760 11,296,700 26,711,426 22,354,374
Share of profit of associates 98,781 72,784 51,615 224,786
Profit before provisions 19,893,850 12,946,056 35,965,139 25,800,549
Provisions / (reversals) and write-offs - net 1,033,661 (534,265) 1,367,770 (157,933)
Profit before taxation from continuing operations 18,860,189 13,480,321 34,597,369 25,958,482
Taxation 16,079,594 6,127,353 22,444,112 11,019,580
Profit after taxation from continuing operations 2,780,595 7,352,968 12,153,257 14,938,902
Discontinued operations
Profit from discontinued operations - net of tax 23,616 106,507 45,788 106,474
Profit after taxation 2,804,211 7,459,475 12,199,045 15,045,376
Attributable to:
Equity holders of the Bank
from continuing operations 2,630,746 7,282,454 11,912,672 14,881,184
from discontinued operations 23,616 106,507 45,788 106,474
2,654,362 7,388,961 11,958,460 14,987,658
Non-controlling interest 149,849 70,514 240,585 57,718
2,804,211 7,459,475 12,199,045 15,045,376
--------------------------------------- (Rupees)
---------------------------------------
Earnings per share for profit from continuing operations
attributable to the equity holders of the Bank
Basic and diluted 2.15 5.95 9.73 12.16
Earnings per share for profit attributable to the equity
holders of the Bank
Basic and diluted 2.17 6.04 9.77 12.24
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