REG - United Bank Limited - Financial Results for the 1st Qtr. 2026 of UBL
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RNS Number : 6340A United Bank Limited 15 April 2026
Secretary's Department
UBL/BOD-261/PSX/Results/26
15 April 2026
The General Manager,
Pakistan Stock Exchange Limited,
Stock Exchange Building,
Stock Exchange
Road,
Karachi
Dear Sir,
Financial Results for the 1(st) Quarter Ended 31 March 2026
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 261(st) meeting held on Wednesday 15 April 2026 at Islamabad
at 10:00 a.m., inter-alia, recommended the following:
(i) Cash Dividend
An Interim Cash Dividend for the 1(st) Quarter ended 31 March 2026 at Rs.8/-
per share i.e.160%.
Bonus Shares
--- NIL ---
(ii) Right Shares
--- NIL ---
(iii) Any Other Entitlement / Corporate Action
--- NIL ---
(iv) Any Other Price-Sensitive Information
The Board of Directors of UBL has appointed Lord Zameer M. Choudrey, CBE, SI
Pk as Chairman of the Board of Directors of UBL.
Further the Board has re-appointed Mr. Muhammad Jawaid Iqbal, as President and
CEO of UBL, for a term of three years subject to all applicable regulatory
approvals including clearance of Fit and Proper Test (FPT) by the State Bank
of Pakistan.
Following documents 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 above entitlement of Dividend will be paid to the shareholders whose names
will appear in the Register of Members (with their IBAN details) on Thursday,
23 April 2026.
The Share Transfer Books of UBL will remain closed from Friday, 24 April 2026
to Monday 27 April 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 23 April 2026 will be treated in time for the purpose of
payment of interim cash dividend
The Quarterly Financial Statements (Quarterly Report) of the Bank for the
1(st) Quarter ended 31 March 2026 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-1
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31, 2026
(Un-audited) (Audited)
March 31, December 31,
2026 2025
-------------- (Rupees in '000) -----------
ASSETS
Cash and balances with treasury banks 574,808,391 547,646,979
Balances with other banks 65,852,900 57,179,677
Lendings to financial institutions - 31,574,547
Investments 9,924,233,155 9,951,054,650
Advances 1,479,131,417 1,369,366,395
Property and equipment 132,717,607 120,546,171
Right-of-use assets 47,157,643 36,198,112
Intangible assets 57,389,199 58,353,831
Deferred tax assets - -
Other assets 444,784,168 448,273,083
12,726,074,480 12,620,193,445
LIABILITIES
Bills payable 59,166,702 58,631,844
Borrowings 6,604,788,795 6,530,014,720
Deposits and other accounts 5,394,449,024 5,168,424,418
Lease liabilities 49,797,372 38,873,814
Subordinated debt 10,000,000 10,000,000
Deferred tax liabilities 13,457,921 135,943,237
Other liabilities 178,239,294 179,573,846
12,309,899,108 12,121,461,879
NET ASSETS 416,175,372 498,731,566
REPRESENTED BY:
Share capital 12,521,239 12,521,239
Reserves 144,949,939 138,517,698
Surplus on revaluation of assets - net 55,605,538 173,025,714
Unappropriated profit 203,098,656 174,666,915
416,175,372 498,731,566
CONTINGENCIES AND COMMITMENTS
ANNEXURE - A-2
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
January - March 2026 January - March 2025
-------------- (Rupees in '000) -----------
Mark-up / return / interest earned 323,519,262 260,957,761
Mark-up / return / interest expensed 224,098,666 176,732,625
Net mark-up / interest income 99,420,596 84,225,136
Non mark-up / interest income
Fee and commission income 7,836,987 6,467,543
Dividend income 145,151 862,726
Foreign exchange income 3,938,914 3,477,162
Loss from derivatives (885,062) (1,252,817)
Gain on securities - net 30,535,934 5,825,773
Capital gain on derecognition of financial assets measured at amortised cost
- -
Other income 600,019 217,428
Total non mark-up / interest income 42,171,943 15,597,815
Total Income 141,592,539 99,822,951
Non mark-up / Interest expenses
Operating expenses 37,969,998 24,619,103
Workers' Welfare Fund 2,000,972 1,477,645
Other charges 8,191 653
Total non mark-up / interest expenses 39,979,161 26,097,401
Profit before credit loss allowance 101,613,378 73,725,550
(455,076)
Credit loss allowance and write-offs - net (1,608,817)
Profit before taxation 102,068,454 75,334,367
Taxation 53,090,596 39,738,749
Profit after taxation 48,977,858 35,595,618
------------------- Rupees -------------------
Earnings per share - basic and diluted - Restated 19.56 14.46
ANNEXURE A-3 (1 of 3)
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
Share capital Share Premium Capital Reserve - Exchange Translation Statutory Surplus / (Deficit) on revaluation Unappropriated Profit Total
Cash Flow Hedge Reserve reserve
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
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 three months ended March 31, 2025
Profit after taxation for the three months ended March 31, 2025 - - - - - - - 35,595,618 35,595,618
-
Other comprehensive income - net of tax - - 651,213 - - (3,027,599) - - - (2,376,386)
Total comprehensive income for the three months ended March 31, 2025 - - 651,213 - (3,027,599) - - 35,595,618 33,219,232
-
Transfer of incremental depreciation from surplus on revaluation of property - - - - - (17,861) - 17,861 -
and equipment to unappropriated profit - net of tax
-
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (186,890) - - 186,890 -
unappropriated profit - net of tax
-
Share issued under amalgamation 279,442 10,473,761 - - - - - - - 10,753,203
Transfer to statutory reserve - - - - 3,559,561 - - - (3,559,561) -
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
Balance as at March 31, 2025 (Un-audited) 12,521,239 10,473,761 60,455,167 58,490,439 36,976,466 38,435,588 1,146 130,730,648 348,084,454
-
Continued on next page
ANNEXURE A-3 (2 of 3)
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
Share capital Share Premium Capital Reserve - Exchange Translation Cash Flow Hedge Reserve Statutory Surplus / (Deficit) on revaluation Unappropriated Profit Total
reserve
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
Total comprehensive income for the nine months December 31, 2025
Profit after taxation for the nine months ended December 31, 2025 - - - - - - - 92,413,229 92,413,229
-
Other comprehensive income - net of tax - - (142,992) - - 100,118,801 - - 12,099,401 112,075,210
Total comprehensive income for the nine months ended December 31, 2025 - - (142,992) - 100,118,801 - - 104,512,630 204,488,439
-
Transfer of incremental depreciation from surplus on revaluation of property - - - - - (53,853) - 53,853 -
and equipment to unappropriated profit - net of tax
-
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (2,452,434) - - 2,452,434 -
unappropriated profit - net of tax
-
Transfer to statutory reserve - - - - 9,241,323 - - - (9,241,323) -
Transactions with owners, recorded directly in equity
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)
-
- - - - - - - - (53,841,327) (53,841,327)
Balance as at December 31, 2025 (Audited) 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
Effect of Transition to EIR Method - net of tax - - - - - - - - 315,991 315,991
12,521,239 10,473,761 60,312,175 67,731,762 134,642,833 38,381,735 1,146 174,982,906 499,047,557
Balance as at January 01, 2026 - as restated -
Continued on next page
ANNEXURE A-3 (3 of 3)
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
Share capital Share Premium Capital Reserve - Exchange Translation Cash Flow Hedge Reserve Statutory Surplus / (Deficit) on revaluation Unappropriated Profit Total
reserve
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
Total comprehensive income for the three months ended March 31, 2026
Profit after taxation for the three months ended March 31, 2026 - - - - - - - 48,977,858 48,977,858
-
Other comprehensive income - net of tax - - (487,607) - (113,350,517) - - - (111,816,061)
2,022,063
Total comprehensive income for the three months ended March 31, 2026 - - (487,607) - (113,350,517) - - 48,977,858 (62,838,203)
2,022,063
Transfer of incremental depreciation from surplus on revaluation of property - - - - - (6,247) - 6,247 -
and equipment to unappropriated profit - net of tax
-
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (4,063,412) - - 4,063,412 -
unappropriated profit - net of tax
-
Transfer to statutory reserve - - - - 4,897,785 - - - (4,897,785) -
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2025 declared subsequent to the year end at - - - - - - - (20,033,982) (20,033,982)
Rs. 8.0 per share
Balance as at March 31, 2026 (Un-audited) 12,521,239 10,473,761 59,824,568 72,629,547 17,228,904 38,375,488 1,146 203,098,656 416,175,372
2,022,063
Continued on next page
ANNEXURE A-3 (2 of 3)
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
Share capital Share Premium Capital Reserve - Exchange Translation Cash Flow Hedge Reserve Statutory Surplus / (Deficit) on revaluation Unappropriated Profit Total
reserve
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
Total comprehensive income for the nine months December 31, 2025
Profit after taxation for the nine months ended December 31, 2025 - - - - - - - 92,413,229 92,413,229
-
Other comprehensive income - net of tax - - (142,992) - - 100,118,801 - - 12,099,401 112,075,210
Total comprehensive income for the nine months ended December 31, 2025 - - (142,992) - 100,118,801 - - 104,512,630 204,488,439
-
Transfer of incremental depreciation from surplus on revaluation of property - - - - - (53,853) - 53,853 -
and equipment to unappropriated profit - net of tax
-
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (2,452,434) - - 2,452,434 -
unappropriated profit - net of tax
-
Transfer to statutory reserve - - - - 9,241,323 - - - (9,241,323) -
Transactions with owners, recorded directly in equity
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)
-
- - - - - - - - (53,841,327) (53,841,327)
Balance as at December 31, 2025 (Audited) 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
Effect of Transition to EIR Method - net of tax - - - - - - - - 315,991 315,991
12,521,239 10,473,761 60,312,175 67,731,762 134,642,833 38,381,735 1,146 174,982,906 499,047,557
Balance as at January 01, 2026 - as restated -
Continued on next page
ANNEXURE A-3 (3 of 3)
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
Share capital Share Premium Capital Reserve - Exchange Translation Cash Flow Hedge Reserve Statutory Surplus / (Deficit) on revaluation Unappropriated Profit Total
reserve
Investments Property and Equipment Non-banking Assets
---------------------------------------------------------------- (Rupees in
'000) ----------------------------------------------------------------
Total comprehensive income for the three months ended March 31, 2026
Profit after taxation for the three months ended March 31, 2026 - - - - - - - 48,977,858 48,977,858
-
Other comprehensive income - net of tax - - (487,607) - (113,350,517) - - - (111,816,061)
2,022,063
Total comprehensive income for the three months ended March 31, 2026 - - (487,607) - (113,350,517) - - 48,977,858 (62,838,203)
2,022,063
Transfer of incremental depreciation from surplus on revaluation of property - - - - - (6,247) - 6,247 -
and equipment to unappropriated profit - net of tax
-
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (4,063,412) - - 4,063,412 -
unappropriated profit - net of tax
-
Transfer to statutory reserve - - - - 4,897,785 - - - (4,897,785) -
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2025 declared subsequent to the year end at - - - - - - - (20,033,982) (20,033,982)
Rs. 8.0 per share
Balance as at March 31, 2026 (Un-audited) 12,521,239 10,473,761 59,824,568 72,629,547 17,228,904 38,375,488 1,146 203,098,656 416,175,372
2,022,063
ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
January - March 2026 January -
March 2025
-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation 102,068,454 75,334,367
Less: Dividend income 145,151 862,726
101,923,303 74,471,641
Adjustments:
Depreciation on property and equipment 3,123,045 1,852,788
Depreciation on Islamic financing against leased assets (Ijarah) 93,205 22,577
Depreciation on right-of-use assets 1,516,058 781,052
Depreciation on non-banking assets acquired in satisfaction of claims 4,040 3,457
Amortisation 1,769,920 275,891
Workers' Welfare Fund - charge 2,000,972 1,477,645
Provision for retirement benefits 916,232 422,909
Provision for compensated absences 30,767 34,536
Credit loss allowance against loans and advances - net 1,579,036 (2,997,963)
Credit loss allowance against off - balance sheet obligations - net (574,942) 818,225
Credit loss allowance for diminution in value of investments - net (1,292,968) 623,424
Interest expense on lease liabilities against right-of-use assets 1,404,294 596,465
Loss on sale of Ijarah assets - net 97 234
Gain on sale of property and equipment - net (35,169) (58,543)
Bad debts written-off directly 23,850 19,656
Unrealised gain on revaluation of investments classified as FVPL 2,217,732 16,503
Credit loss allowance against other assets 65,750 20,397
Other credit loss allowance / write-offs 100,886 49,989
12,942,805 3,959,242
114,866,108 78,430,883
(Increase) / decrease in operating assets
Lendings to financial institutions 31,574,547 12,963,283
Securities classified as FVPL (137,300,867) (114,668,176)
Advances (111,590,217) 518,625,528
Other assets (excluding advance taxation) (5,525,133) (168,073,472)
(222,841,670) 248,847,163
Increase / (decrease) in operating liabilities
Bills payable 534,858 (16,662,392)
Borrowings 74,774,075 548,102,065
Deposits and other accounts 226,024,606 754,580,691
Other liabilities (10,607,243) (5,891,991)
290,726,296 1,280,128,373
182,750,734 1,607,406,419
Payments on account of staff retirement benefits (4,407,606) (228,584)
Income taxes paid (42,094,119) (17,840,581)
Net cash flow generated from operating activities 136,249,009 1,589,337,254
Continued on next page
ANNEXURE A-4 (2 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026 January - March 2026 January -
March 2025
-------------- (Rupees in '000) --------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI 225,216,128 (1,500,147,500)
Net investments in amortised cost securities (303,371,556) 811,761
Net investments in associates 8,060,154 -
Cash acquired through business combination - 15,198,229
Dividend income received 95,828 352,349
Investment in property and equipments and intangible assets (16,318,737) (68,309,417)
Sale proceeds from disposal of property and equipments 254,137 138,675
Sale proceeds from disposal of ijarah assets 10,497 26,878
Effect of translation of net investment in foreign branches (487,607) 651,213
Net cash flow used in investing activities (86,541,156) (1,551,277,812)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets (2,978,876) (1,519,047)
Dividend paid (10,894,342) (6,619,963)
Net cash flow used in financing activities (13,873,218) (8,139,010)
Increase / (decrease) in cash and cash equivalents 35,834,635 29,920,432
Cash and cash equivalents at the beginning of the period 605,998,071 368,504,388
Effect of exchange rate changes on cash and cash equivalents (1,171,415) 1,209,769
604,826,656 369,714,157
Cash and cash equivalents at the end of the period 640,661,291 399,634,589
ANNEXURE B-1
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31, 2026
(Un-audited) (Audited)
March 31, December 31,
2026 2025
----------------- (Rupees in '000) -----------------
ASSETS
Cash and balances with treasury banks 575,825,627 548,709,327
Balances with other banks 65,851,309 57,279,049
Lendings to financial institutions - 31,574,547
Investments 9,927,042,138 9,956,066,916
Advances 1,479,131,417 1,369,366,395
Property and equipment 133,118,760 120,927,227
Right-of-use assets 47,718,883 36,813,438
Intangible assets 57,724,332 58,690,656
Deferred tax assets - -
Other assets 445,660,121 449,087,109
12,732,072,587 12,628,514,664
LIABILITIES
Bills payable 59,166,702 58,631,844
Borrowings 6,604,788,795 6,530,014,720
Deposits and other accounts 5,393,486,772 5,168,089,899
Lease liabilities 50,414,096 39,520,412
Subordinated debt 10,000,000 10,000,000
Deferred tax liabilities 12,875,592 136,299,736
Other liabilities 179,125,089 180,666,240
12,309,857,046 12,123,222,851
NET ASSETS 422,215,541 505,291,813
REPRESENTED BY:
Share capital 12,521,239 12,521,239
Reserves 144,949,939 138,517,698
Surplus on revaluation of assets - net 55,621,128 173,003,893
Unappropriated profit 209,049,654 181,178,532
Total equity attributable to the equity holders of the Bank 422,141,960 505,221,362
Non-controlling interest 73,581 70,451
422,215,541 505,291,813
CONTINGENCIES AND COMMITMENTS
ANNEXURE B-2
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
January - March 2026 January - March 2025
-------- (Rupees in '000) --------
Mark-up / return / interest earned 323,527,455 260,968,025
Mark-up / return / interest expensed 224,105,363 176,745,006
Net mark-up / interest income 99,422,092 84,223,019
Non-mark-up / interest income
Fee and commission income 8,937,016 7,505,961
Dividend income 145,151 862,726
Foreign exchange income 4,183,319 3,669,940
Loss from derivatives (885,062) (1,252,817)
Gain on securities - net 30,424,318 5,825,773
Capital gain on derecognition of financial assets measured at amortised cost - -
Other income 586,125 210,247
Total non-markup / interest income 43,390,867 16,821,830
Total income 142,812,959 101,044,849
Non-mark-up / interest expenses
Operating expenses 38,643,420 25,206,289
Workers' Welfare Fund 2,009,322 1,491,619
Other charges 8,191 653
Total non-mark-up / interest expenses 40,660,933 26,698,561
Share of (loss) / profit of associates (2,006,036) 182,919
Profit before credit loss allowance 100,145,990 74,529,207
Credit loss allowance and write-offs - net (455,076) (1,608,817)
Profit before taxation 100,601,066 76,138,024
Taxation 52,180,697 40,026,398
Profit after taxation 48,420,369 36,111,626
Attributable to:
Equity holders of the Bank 48,417,239 36,106,776
Non-controlling interest 3,130 4,850
48,420,369 36,111,626
----------------- (Rupees) -----------------
Earnings per share - Basic and diluted - Restated 19.33 14.67
ANNEXURE B-3 (1 of 2)
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
Share capital Share Premium Statutory Reserve Capital Reserve - Exchange Translation Cash Flow Hedge - Reserve 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, 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 three months ended March 31, 2025
Profit after taxation for the three months ended March 31, 2025 - - - - - - - - 36,106,776 36,106,776 4,850 36,111,626
Other comprehensive income - net of tax - - - 651,213 - (3,056,394) - - - (2,405,181) - (2,405,181)
Total comprehensive income for the three months ended March 31, 2025 - - - 651,213 - (3,056,394) - - 36,106,776 33,701,595 4,850 33,706,445
Transfer of incremental depreciation from revaluation of property and - - - - - - (17,861) - 17,861 - - -
equipment to unappropriated profit - net of tax
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - - (186,890) - - 186,890 - - -
unappropriated profit - net of tax
Transfer to statutory reserve - - 3,559,561 - - - - - (3,559,561) - - -
Shares issued under amalgamation 279,442 10,473,761 - - - - - - - 10,753,203 - 10,753,203
Transactions with owners for the three months ended March 31, 2025, 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
Balance as at March 31, 2025 (Un-audited) 12,521,239 10,473,761 58,490,438 60,455,167 - 36,967,290 38,435,588 1,146 135,758,040 353,102,669 54,760 353,157,429
Total comprehensive income for the nine months ended December 31, 2025
Profit after taxation for the nine months ended December 31, 2025 - - - - - - - - 93,893,107 93,893,107 15,641 93,908,748
Other comprehensive income - net of tax - - - (142,992) - 100,106,156 - - 12,103,749 112,066,913 50 112,066,963
Total comprehensive income for the nine months ended December 31, 2025 - - - (142,992) - 100,106,156 - - 105,996,856 205,960,020 15,691 205,975,711
Transfer of incremental depreciation from revaluation of property and - - - - - - (53,853) - 53,853 - - -
equipment to unappropriated profit - net of tax
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - - (2,452,434) - - 2,452,434 - - -
unappropriated profit - net of tax
Transfer to statutory reserve - - 9,241,324 - - - - - (9,241,324) - - -
Transactions with owners for the nine months ended December 31, 2025, recorded
directly in equity
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)
- - - - - - - - (53,841,327) (53,841,327) - (53,841,327)
Balance as at December 31, 2025 (Audited) 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
Effect of Transition to EIR Method - net of tax - - - - - - - - 315,991 315,991 - 315,991
Balance as at January 01, 2026 - as restated 12,521,239 10,473,761 67,731,762 60,312,175 - 134,621,012 38,381,735 1,146 181,494,523 505,537,353 70,451 505,607,804
Continued on next page
ANNEXURE B-3 (1 of 2)
CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
Share capital Share Premium Statutory Reserve Capital Reserve - Exchange Translation Cash Flow Hedge - Reserve Surplus / (Deficit) on revaluation Unappropriated Profit Sub total Non-controlling interest Total
Investments Property and Equipment Non-banking Assets
--------------------------------------------------------------------------------------------------------------------------------
(Rupees in '000)
--------------------------------------------------------------------------------------------------------------------------------
Total comprehensive income for the three months ended March 31, 2026
Profit after taxation for the three months ended March 31, 2026 - - - - - - - - 48,417,239 48,417,239 3,130 48,420,369
Other comprehensive income - net of tax - - - (487,607) 2,022,063 (113,313,106) - - - (111,778,650) - (111,778,650)
Total comprehensive income for the three months ended March 31, 2026 - - - (487,607) 2,022,063 (113,313,106) - - 48,417,239 (63,361,411) 3,130 (63,358,281)
Transfer of incremental depreciation from revaluation of property and - - - - - - (6,247) - 6,247 - - -
equipment to unappropriated profit - net of tax
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - - (4,063,412) - - 4,063,412 - - -
unappropriated profit - net of tax
Transfer to statutory reserve - - 4,897,785 - - - - - (4,897,785) - - -
Transactions with owners for the three months ended March 31, 2026, recorded
directly in equity
Final cash dividend - December 31, 2025 declared subsequent to the year end at - - - - - - - - (20,033,982) (20,033,982) - (20,033,982)
Rs. 8.0 per share
Balance as at March 31, 2026 (Un-audited) 12,521,239 10,473,761 72,629,547 59,824,568 2,022,063 17,244,494 38,375,488 1,146 209,049,654 422,141,960 73,581 422,215,541
ANNEXURE B-4 (1 of 2)
CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
January - March 2026 January - March 2025
--------- (Rupees in '000) ---------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation 100,601,066 76,138,024
Less: Dividend income 145,151 862,726
Less: Share of (loss) / profit of associates (2,006,036) 182,919
102,461,951 75,092,379
Adjustments:
Depreciation on property and equipment 3,147,915 1,874,603
Depreciation on Islamic financing against leased assets (Ijarah) 93,205 22,577
Depreciation on right-of-use assets 1,532,524 813,637
Depreciation on non-banking assets acquired in satisfaction of claims 4,040 3,457
Amortisation 1,773,314 279,459
Workers' Welfare Fund - charge 2,009,322 1,491,619
Provision for retirement benefits 916,232 427,270
Provision for compensated absences 30,767 34,536
Credit loss allowance against loans and advances - net 1,579,036 (2,997,963)
Credit loss allowance against off - balance sheet obligations - net (574,942) 818,225
Credit loss allowance for diminution in value of investments - net (1,292,968) 623,424
Interest expense on lease liabilities against right-of-use assets 1,412,597 609,734
Loss on sale of Ijarah assets - net 97 234
Gain on sale of property and equipments - net (35,169) (58,544)
Bad debts written-off directly 23,850 19,656
Unrealised gain on revaluation of investments classified as FVPL 2,217,732 16,503
Credit loss allowance against other assets 65,750 20,397
Other credit loss allowance / write-offs 100,886 80,635
13,004,188 4,079,459
115,466,139 79,171,838
(Increase) / decrease in operating assets
Lendings to financial institutions 31,574,547 12,963,283
Securities classified as FVPL (137,300,867) (114,668,176)
Advances (111,590,217) 518,104,269
Other assets (excluding advance taxation) (5,556,930) (167,401,098)
(222,873,467) 248,998,278
Increase / (decrease) in operating liabilities
Bills payable 534,858 (16,662,392)
Borrowings 74,774,075 548,102,065
Deposits and other accounts 225,396,873 754,604,962
Other liabilities (7,765,317) (5,840,562)
292,940,489 1,280,204,073
185,533,161 1,608,374,189
Payments on account of staff retirement benefits (4,415,554) (228,575)
Income taxes paid (42,284,056) (18,185,802)
Net cash flow generated from operating activities 138,833,551 1,589,959,812
Continued on next page
ANNEXURE B-4 (2 of 2)
CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
January - March 2026 January - March 2025
----------------- (Rupees in '000) -----------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI 224,986,972 (1,500,190,970)
Net investments in amortised cost securities (303,371,556) 811,761
Net investments in associates 5,626,391 (366,974)
Cash acquired through business combination - 15,198,229
Dividend income received 95,828 352,349
Investment in property and equipments and intangible assets (16,366,806) (68,323,362)
Sale proceeds from disposal of property and equipments 255,537 138,911
Sale proceeds from disposal of ijarah assets 27,645 27,645
Effect of translation of net investment in foreign branches (487,607) 651,213
Net cash flow used in investing activities (89,233,596) (1,551,701,198)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets (3,017,053) (1,549,147)
Dividend paid (10,894,342) (6,619,963)
Net cash flow used in financing activities (13,911,395) (8,169,110)
35,688,560 30,089,504
Increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the period 607,166,809 369,594,853
Effect of exchange rate changes on cash and cash equivalents (1,178,433) 1,209,769
605,988,376 370,804,622
Cash and cash equivalents at the end of the period 641,676,936 400,894,126
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