REG - United Bank Limited - Financial Results for the 2nd Qtr Ended 30-06-2025
11/07/2025 15:15
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RNS Number : 7960Q United Bank Limited 11 July 2025
Secretary's Department
UBL/BOD-256/PSX/Results/25
11 July 2025
The General Manager,
Pakistan Stock Exchange Limited,
Stock Exchange Building,
Stock Exchange Road,
Karachi
Dear Sir,
Financial Results for the 2(nd) Quarter Ended 30 June 2025
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 256(th) meeting held on Friday, 11 July 2025 at London at
11:00 a.m. inter-alia recommended the following:
(i) CASH DIVIDEND
An Interim Cash Dividend for the Quarter ended 30 June 2025 at Rs.8/- per
share i.e.160%. This is addition to interim Dividend already paid at Rs.11/-
per share i.e.110%.
(ii) BONUS SHARES
--- NIL ---
(iii) RIGHT SHARES
--- NIL ---
(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION
--- NIL ---
(v) ANY OTHER PRICE-SENSITIVE INFORMATION
--- NIL ---
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 Monday, 21
July 2025.
The
Share Transfer Books of UBL will remain closed from Tuesday, 22 July 2025 to
Thursday 24 July 2025 (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 21 July 2025 will be treated in time for the purpose of
payment of interim cash dividend
Following Statements are attached:
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 quarterly financial statements (Quarterly Report) of the Bank for the
2(nd) Quarter ended 30 June 2025 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 JUNE 30, 2025
(Un-audited) (Audited)
June 30, December 31,
2025 2024
--------- (Rupees in '000) ---------
ASSETS
Cash and balances with treasury banks 389,109,516 309,745,911
Balances with other banks 114,048,384 59,968,246
Lendings to financial institutions 90,732,721 18,492,483
Investments 8,877,300,409 5,886,894,503
Advances 1,062,702,946 1,443,481,944
Property and equipment 104,317,282 85,246,731
Right-of-use assets 25,765,445 9,896,084
Intangible assets 63,737,561 2,481,475
Deferred tax assets - -
Other assets 361,073,035 246,924,757
11,088,787,299 8,063,132,134
LIABILITIES
Bills payable 52,726,804 44,221,818
Borrowings 6,071,617,897 4,855,373,516
Deposits and other accounts 4,292,334,964 2,640,211,489
Lease liabilities 28,086,411 12,008,797
Subordinated debt 10,998,600 10,000,000
Deferred tax liabilities 80,235,583 38,959,061
Other liabilities 126,374,407 146,135,202
10,662,374,666 7,746,909,883
NET ASSETS 426,412,633 316,222,251
REPRESENTED BY:
Share capital 12,521,239 12,241,797
Reserves 133,772,433 114,734,831
Surplus on revaluation of assets 137,765,880 77,289,805
Unappropriated profit 142,353,081 111,955,818
426,412,633 316,222,251
CONTINGENCIES AND COMMITMENTS
ANNEXURE - A-2
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025
April - June 2025 April - June 2024 January - June 2025 January - June 2024
--------------------------- (Rupees in '000) ------------------------------
Mark-up / return / interest earned 303,036,068 276,527,423 563,993,829 515,153,946
Mark-up / return / interest expensed 211,838,956 249,503,608 388,571,581 461,516,001
Net mark-up / interest income 91,197,112 27,023,815 175,422,248 53,637,945
Non mark-up / interest income
Fee and commission income 8,037,476 4,780,029 14,505,019 10,049,383
Dividend income 570,794 449,971 1,433,520 923,136
Foreign exchange income 3,966,460 3,691,824 7,443,622 6,367,669
Loss from derivatives (1,761) 40,001 (1,254,578) (24,845)
Gain on securities - net 2,321,537 5,334,587 8,147,310 18,143,333
Capital gain on derecognition of financial assets measured at amortised cost - -
3,841,988 2,894,427
Other income 270,536 175,672 487,964 357,509
Total non mark-up / interest income 15,165,042 18,314,072 30,762,857 38,710,612
Total Income 106,362,154 45,337,887 206,185,105 92,348,557
Non mark-up / Interest expenses
Operating expenses 33,667,342 18,150,131 58,486,445 35,759,860
Workers' Welfare Fund 1,437,459 564,494 2,915,104 1,232,972
Other charges 1,841 31,945 2,494 32,811
Total non mark-up / interest expenses 35,306,642 18,746,540 61,404,043 37,025,643
Profit before credit loss allowance 71,055,512 26,591,317 144,781,062 55,322,914
(2,280,430) (3,889,247)
Credit loss allowance and write-offs - net (647,053) (2,366,765)
Profit before taxation 73,335,942 27,238,370 148,670,309 57,689,679
Taxation 45,140,968 13,381,254 84,879,717 28,244,106
Profit after taxation 28,194,974 13,857,116 63,790,592 29,445,573
--------------------------------- (Rupees)
------------------------------------
Earnings per share - basic and diluted - Restated 11.26 5.66 25.69 12.03
ANNEXURE A-3 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED JUNE 30, 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 six months ended June 30, 2024
Profit after taxation for the six months ended June 30, 2024 - - - - - - - 29,445,573 29,445,573
Other comprehensive income - net of tax - - (1,192,506) - 1,353,702 5,522 - - 166,718
Total comprehensive income for the six months ended June 30, 2024 - - (1,192,506) - 1,353,702 5,522 - 29,445,573 29,612,291
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - - - - -
net of tax
Transfer of incremental depreciation from surplus on revaluation of property - - - - - (43,869) - 43,869 -
and equipment to unappropriated profit - net of tax
Transfer of net loss on disposal of FVOCI equity investments from surplus to - - - - 64,182 - - (64,182) -
unappropriated profit - net of tax
Transfer to statutory reserve - - - 2,944,557 - - - (2,944,557) -
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)
(26,931,954) (26,931,954)
Balance as at June 30, 2024 (Un-audited) 12,241,797 - 59,730,349 49,822,680 2,197,921 38,173,446 - 88,686,861 250,853,054
Total comprehensive income for the six months ended December 31, 2024
Profit after taxation for the six months ended December 31, 2024 - - - - - - - 51,081,961 51,081,961
Other comprehensive income - net of tax - - 73,605 - 36,653,222 313,717 1,146 4,177,500 41,219,190
Total comprehensive income for the six months ended December 31, 2024 - - 73,605 - 36,653,222 313,717 1,146 55,259,461 92,301,151
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - - - - -
net of tax
Transfer of incremental depreciation from surplus on revaluation of property - - - - - (33,714) - 33,714 -
and equipment to unappropriated profit - net of tax
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (15,933) - - 15,933 -
unappropriated profit - net of tax
Transfer to statutory reserve - - - 5,108,197 - - - (5,108,197) -
ANNEXURE A-3 (2 of 2)
UNCONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED JUNE 30, 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) ----------------------------------------------------------------
Transactions with owners, recorded directly in equity
Interim cash dividend - June 30, 2024 - - - - - - - (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)
declared at Rs. 11.0 per share
- - - - - - - (26,931,954) (26,931,954)
Balance as at December 31, 2024 (Audited) 12,241,797 - 59,803,954 54,930,877 38,835,210 38,453,449 1,146 111,955,818 316,222,251
Effect of reclassification on adoption of IFRS 9 (net of tax) - - - - 1,355,745 - - - 1,355,745
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 six months ended
June 30, 2025
Profit after taxation for the six months ended June 30, 2025 - - - - - - - 63,790,592 63,790,592
Other comprehensive income - net of tax - - 2,184,782 - 59,345,400 - - - 61,530,182
Total comprehensive income for the six months ended June 30, 2025 - - 2,184,782 - 59,345,400 - - 63,790,592 125,320,774
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - - - - -
net of tax
Transfer of incremental depreciation from surplus on revaluation of property - - - - - (49,362) - 49,362 -
and equipment to unappropriated profit - net of tax
Transfer of net loss on disposal of FVOCI equity investments from surplus to - - - - (175,708) - - 175,708 -
unappropriated profit - net of tax
Transfer to statutory reserve - - - 6,379,059 - - - (6,379,059) -
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)
- - - - - - - (27,239,340) (27,239,340)
Balance as at June 30, 2025 (Un-audited) 12,521,239 10,473,761 61,988,736 61,309,936 99,360,647 38,404,087 1,146 142,353,081 426,412,633
ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025
January - June 2025 January - June 2024
--------- (Rupees in '000) ---------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation 148,670,309 57,689,679
Less: Dividend Income 1,433,520 923,136
147,236,789 56,766,543
Adjustments:
Depreciation on property and equipment 4,096,700 2,582,005
Depreciation on Islamic financing against leased assets (Ijarah) 49,393 40,189
Depreciation on right-of-use assets 1,841,498 1,159,305
Depreciation on non-banking assets acquired in satisfaction of claims 15,861 1,613
Amortisation 557,282 475,163
Workers' Welfare Fund - charge 2,915,104 1,232,972
Provision for retirement benefits 910,693 677,218
Provision for compensated absences 74,743 81,764
Credit loss allowance against loans and advances - net (4,083,719) (2,049,803)
Credit loss allowance against off - balance sheet obligations - net 116,371 48,083
Credit loss allowance for diminution in value of investments - net 427,588 (236,595)
Interest expense on lease liability against right-of-use assets 1,444,751 697,814
Loss / (gain) on sale of Ijarah assets - net 234 (868)
Gain on sale of property and equipment - net (75,331) (70,367)
Bad debts written-off directly 49,843 23,626
Unrealised gain on revaluation of investments classified as FVTPL (110,900) (115,408)
Credit loss allowance against other assets (2,301) (7,675)
Other credit loss allowance / write-offs 60,489 64,431
8,288,299 4,603,467
155,525,088 61,370,010
(Increase) / Decrease in operating assets
Lendings to financial institutions (72,240,238) 19,447,852
Securities classified as FVTPL (251,153,986) (9,547,386)
Advances 386,399,490 (10,416,965)
Other assets (excluding advance taxation) (173,598,090) (25,177,643)
(110,592,824) (25,694,142)
(Increase) / Decrease in operating liabilities
Bills payable 8,504,986 800,756
Borrowings 1,216,244,381 1,287,761,084
Deposits and other accounts 1,652,123,475 561,393,929
Other liabilities (23,136,314) 11,293,109
2,853,736,528 1,861,248,878
2,898,668,792 1,896,924,746
(Payments) / receipts on account of staff retirement benefits (339,765) 3,040,913
Income taxes paid (55,139,175) (26,089,701)
Net cash flow generated from operating activities 2,843,189,852 1,873,875,958
ANNEXURE A-4 (2 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025
January - June 2025 January - June 2024
--------- (Rupees in '000) ---------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI (2,596,068,098) (1,728,868,510)
Net investments in amortized cost securities (16,335,701) 8,576,867
Net investments in subsidiaries - (1,000,000)
Net cash inflow on amalgamation 15,198,229 -
Dividend income received 1,433,520 923,136
Investment in property and equipments and intangible assets (84,980,619) (9,319,612)
Sale proceeds from disposal of property and equipments 187,103 82,490
Sale proceeds from disposal of ijarah assets 10,360 -
Effect of translation of net investment in overseas branches 2,184,782 (1,192,506)
Net cash flow used in investing activities (2,678,370,424) (1,730,798,135)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liability against right-of-use assets (3,291,553) (1,685,441)
Payment of sub ordinated debt (999,800) -
Dividend paid (27,084,332) (26,964,120)
Net cash flow used in financing activities (31,375,685) (28,649,561)
Increase in cash and cash equivalents 133,443,743 114,428,262
Cash and cash equivalents at the beginning of the period 365,826,238 309,611,724
Effect of exchange rate changes on cash and cash equivalents 3,887,919 (1,580,756)
369,714,157 308,030,968
Cash and cash equivalents at the end of the period 503,157,900 422,459,230
ANNEXURE B-1
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT JUNE 30, 2025
(Un-audited) (Audited)
June 30, December 31,
2025 2024
--------- (Rupees in '000) ---------
ASSETS
Cash and balances with treasury banks 389,950,760 310,836,376
Balances with other banks 114,068,506 59,968,246
Lendings to financial institutions 90,732,721 18,492,483
Investments 8,881,304,440 5,889,765,841
Advances 1,062,702,946 1,443,481,944
Property and equipment 104,646,232 85,591,999
Right-of-use assets 26,141,715 10,231,121
Intangible assets 64,042,019 2,792,016
Deferred tax assets - -
Other assets 361,940,573 247,937,251
11,095,529,912 8,069,097,277
LIABILITIES
Bills payable 52,726,804 44,221,818
Borrowings 6,071,617,897 4,855,373,516
Deposits and other accounts 4,291,893,684 2,639,875,985
Lease liabilities 28,506,610 12,381,018
Subordinated debt 10,998,600 10,000,000
Deferred tax liabilities 80,570,416 39,311,263
Other liabilities 127,301,843 147,125,664
10,663,615,854 7,748,289,264
NET ASSETS 431,914,058 320,808,013
REPRESENTED BY:
Share capital 12,521,239 12,241,797
Reserves 133,772,433 114,734,831
Surplus on revaluation of assets 137,759,541 77,309,424
Unappropriated profit 147,801,422 116,472,051
Total equity attributable to the equity holders of the Bank 431,854,635 320,758,103
Non-controlling interest 59,423 49,910
431,914,058 320,808,013
CONTINGENCIES AND COMMITMENTS
ANNEXURE B-2
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025
April - June 2025 April - June 2024 January - June 2025 January - June 2024
----------------------------------------- (Rupees in '000)
---------------------------
Mark-up / return / interest earned 303,047,515 281,551,199 564,015,540 524,574,784
Mark-up / return / interest expensed 211,841,680 252,376,577 388,586,686 467,298,958
Net mark-up / interest income 91,205,835 29,174,622 175,428,854 57,275,826
Non-mark-up / interest income
Fee and commission income 8,982,232 5,589,143 16,488,193 11,526,371
Dividend income 501,663 395,358 1,364,389 868,523
Foreign exchange income 4,177,999 3,762,947 7,847,939 6,481,928
(Loss) / gain from derivatives (1,761) 40,001 (1,254,578) (24,845)
Gain on securities - net 2,321,537 5,360,182 8,147,310 18,188,990
Capital gain on derecognition of financial assets measured at amortised cost -
3,841,988 - 2,894,427
Other income 245,210 310,735 455,457 641,209
Total non-markup / interest income 16,226,880 19,300,354 33,048,710 40,576,603
Total income 107,432,712 48,474,976 208,477,564 97,852,429
Non-mark-up / interest expenses
Operating expenses 34,447,356 19,751,052 59,653,645 38,941,129
Workers' Welfare Fund 1,451,550 576,073 2,943,169 1,252,496
Other charges 1,841 31,945 2,494 32,811
Total non-mark-up / interest expenses 35,900,747 20,359,070 62,599,308 40,226,436
Share of profit of associates 422,516 294,246 605,435 245,947
Profit before credit loss allowance 71,954,484 28,410,152 146,483,691 57,871,940
Credit loss allowance and write-offs - net (2,280,430) (644,022) (3,889,247) (2,361,911)
Profit before taxation 74,234,914 29,054,174 150,372,938 60,233,851
Taxation 45,614,327 13,786,238 85,640,725 28,827,006
Profit after taxation 28,620,587 15,267,936 64,732,213 31,406,845
Attributable to:
Equity holders of the Bank 28,615,924 14,816,363 64,722,700 30,793,772
Non-controlling interest 4,663 451,573 9,513 613,073
28,620,587 15,267,936 64,732,213 31,406,845
--------------------------------------- (Rupees)
---------------------------------------
Earnings per share - basic and diluted - Restated 11.43 6.05 26.07 12.58
ANNEXURE B-3 (1 of 2)
CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED JUNE 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) ----------------------------------------------------------------
Balance as at January 01, 2024 - as 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 six months ended June 30, 2024
Profit after taxation for the six months ended June 30, 2024 - - - - - - - 30,793,772 30,793,772 613,073 31,406,845
Other comprehensive income - net of tax - - - (1,456,232) 1,852,966 (61,174) - - 335,560 112,491 448,051
Total comprehensive income for the six months ended June 30, 2024 - - - (1,456,232) 1,852,966 (61,174) - 30,793,772 31,129,332 725,564 31,854,896
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - (22,930) - 22,930 - - -
net of tax
Transfer of incremental depreciation from surplus on revaluation - - - - - (44,796) - 44,796 - - -
Transfer of net loss on disposal of FVOCI equity investments from surplus to - - - - 64,182 - - (64,182) - - -
unappropriated profit - net of tax
Transfer to statutory reserve - - 2,944,558 - - - - (2,944,558) - - -
Transactions with owners for the six months ended June 30, 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)
- - - - - - - (26,931,954) (26,931,954) - (26,931,954)
Balance as at June 30, 2024 (Un-audited) 12,241,797 - 49,822,681 68,437,061 1,724,155 41,666,410 - 96,945,676 270,837,780 15,629,943 286,467,723
Total comprehensive income for the six months ended December 31, 2024
Profit after taxation for the six months ended December 31, 2024 - - - - - - - 44,362,081 44,362,081 8,518 44,370,599
Other comprehensive income - net of tax - - - (8,633,107) 36,610,873 313,719 1,146 4,197,565 32,490,196 1,565 32,491,761
Total comprehensive income for the six months ended December 31, 2024 - - - (8,633,107) 36,610,873 313,719 1,146 48,559,646 76,852,277 10,083 76,862,360
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - - - - - - -
net of tax
Transfer of incremental depreciation from surplus on revaluation - - - - - (33,717) - 33,717 - - -
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (15,933) - - 15,933 - - -
unappropriated profit - net of tax
Transfer to statutory reserve - - 5,108,196 - - - - (5,108,196) - - -
Derecognition of subsidiary - - - - 535,734 (3,492,963) - 2,957,229 - (15,590,116) (15,590,116)
ANNEXURE B-3 (2 of 2)
CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED JUNE 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) ----------------------------------------------------------------
Transactions with owners for the six months ended December 31, 2024, recorded
directly in equity
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
- - - - - - - (26,931,954) (26,931,954) - (26,931,954)
Balance as at January 01, 2025 (Audited) 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
Effect of reclassification on adoption of IFRS 9 (net of tax) - - - - 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 six months ended June 30, 2025
Profit after taxation for the six months ended June 30, 2025 - - - - - - - 64,722,700 64,722,700 9,513 64,732,213
Other comprehensive income - net of tax - - - 2,184,782 59,319,442 - - - 61,504,224 - 61,504,224
Total comprehensive income for the six months ended June 30, 2025 - - - 2,184,782 59,319,442 - - 64,722,700 126,226,924 9,513 126,236,437
Transfer from surplus on revaluation upon disposal to unappropriated profit - - - - - - - - - - - -
net of tax
Transfer of incremental depreciation from surplus on revaluation - - - - - (49,362) - 49,362 - - -
Transfer of net gain on disposal of FVOCI equity investments from surplus to - - - - (175,708) - - 175,708 - - -
unappropriated profit - net of tax
Transfer to statutory reserve - - 6,379,059 - - - - (6,379,059) - - -
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)
- - - - - - - (27,239,340) (27,239,340) - (27,239,340)
Balance as at June 30, 2025 (Un-audited) 12,521,239 10,473,761 61,309,936 61,988,736 99,354,308 38,404,087 1,146 147,801,422 431,854,635 59,423 431,914,058
ANNEXURE B-4 (1 of 2)
CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025
January - June 2025 January - June 2024
--------- (Rupees in '000) ---------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation 150,372,938 60,233,851
Less: Dividend Income 1,364,389 868,523
Less: Share of profit of associates 605,435 245,947
148,403,114 59,119,381
Adjustments:
Depreciation on property and equipment 4,143,442 2,652,832
Depreciation on Islamic financing against leased assets (Ijarah) 49,393 40,189
Depreciation on right-of-use assets 1,890,306 1,180,477
Depreciation on non-banking assets acquired in satisfaction of claims 15,861 1,613
Amortisation 564,200 501,685
Workers' Welfare Fund - charge 2,943,169 1,252,496
Provision for retirement benefits 935,205 837,618
Provision for compensated absences 74,743 128,055
Credit loss allowance against loans and advances - net (4,083,719) (2,049,803)
Credit loss allowance against off - balance sheet obligations - net 116,371 48,083
Credit loss allowance for diminution in value of investments - net 427,588 (236,595)
Interest expense on lease liability against right-of-use assets 1,466,817 704,967
Loss / (gain) on sale of Ijarah assets - net 234 (868)
Gain on sale of property and equipment - net (75,332) (70,367)
Bad debts written-off directly 49,843 28,480
Unrealised gain on revaluation of investments classified as FVTPL (110,900) (115,408)
Credit loss allowance against other assets (2,301) (7,675)
Other credit loss allowance / write-offs 60,489 64,431
8,465,409 4,960,210
156,868,523 64,079,591
(Increase) / Decrease in operating assets
Lendings to financial institutions (72,240,238) 23,433,004
Securities classified as FVTPL (251,153,986) (9,547,386)
Advances 386,399,490 (61,270,813)
Other assets (excluding advance taxation) (173,388,888) (25,431,026)
(110,383,622) (72,816,221)
(Increase) / Decrease in operating liabilities
Bills payable 8,504,986 729,597
Borrowings 1,216,244,381 1,281,338,248
Deposits and other accounts 1,652,017,699 605,896,692
Other liabilities (22,899,837) 11,689,156
2,853,867,229 1,899,653,693
2,900,352,130 1,890,917,063
(Payments) / receipts on account of staff retirement benefits (354,709) 2,840,892
Income taxes paid (55,584,100) (26,591,344)
Net cash flow generated from operating activities 2,844,413,320 1,867,166,611
ANNEXURE B-4 (2 of 2)
CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025
January - June 2025 January - June 2024
--------- (Rupees in '000) ---------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI (2,596,119,863) (1,722,058,623)
Net investments in amortized cost securities (16,335,701) 8,576,866
Net cash inflow on amalgamation 15,198,229 -
Net investments in associates (1,132,233) (1,161,228)
Dividend income received 1,364,389 868,523
Investment in property and equipments and intangible assets (85,124,633) (9,138,932)
Sale proceeds from disposal of property and equipments 188,087 82,490
Sale proceeds from disposal of ijarah assets 27,645 -
Effect of translation of net investment in overseas branches 2,184,782 (1,675,367)
Net cash flow used in investing activities (2,679,749,298) (1,724,506,271)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liability against right-of-use assets (3,365,246) (1,734,371)
Payment of sub ordinated debt (999,800) -
Dividend paid (27,084,332) (26,964,120)
Net cash flow used in financing activities (31,449,378) (28,698,491)
Increase in cash and cash equivalents 133,214,644 113,961,849
Cash and cash equivalents at the beginning of the period 366,968,159 312,428,031
Effect of exchange rate changes on cash and cash equivalents 3,836,463 (1,641,900)
370,804,622 310,786,131
Cash and cash equivalents at the end of the period 504,019,266 424,747,980
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