REG - United Bank Limited - Financial Results for the year ended 31-12-2021
23/02/2022 11:00
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RNS Number : 5705C United Bank Limited 23 February 2022
Secretary's Department
UBL/BOD-236/PSX/Results/22
23 February 2022
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the Year Ended 31 December 2021
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 236(th) Meeting held on Wednesday at 10:00 a.m., 23 February
2022 at Islamabad inter-alia recommended the following:
(i) Cash Dividend
A final Cash Dividend for the year 31 December 2021 at Rs.6.00/- per share
i.e. 60%. This is in addition to Interim Dividend already paid at Rs.12/- per
share i.e. 120%
(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 Board has further decided that 63(rd) Annual General Meeting (AGM) of UBL
will be held on Tuesday, 09:30 a.m., 29 March 2022 at Islamabad.
The above entitlement will be paid to the shareholders whose names will appear
in the Register of Members (with their IBAN details) on Monday, 21 March
2022.
The Share Transfer Books of UBL will remain closed from 22 March 2022 to 29
March 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-75500, at the close of
business on Monday, 21 March 2022 will be treated in time for the purpose of
above entitlement to the transferees.
Annual Report of the Bank for the year ended 31 December 2021 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.
Annexure A
UNCONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2021
2021 2020
-------------- (Rupees in '000) -----------
Mark-up / return / interest earned 147,974,155 152,003,210
Mark-up / return / interest expensed 76,215,631 77,044,038
Net mark-up / interest income 71,758,524 74,959,172
Non mark-up / interest income
Fee and commission income 13,063,973 11,097,472
Dividend income 2,033,934 1,269,537
Foreign exchange income 3,991,545 3,684,585
Income / (loss) from derivatives 21,549 (13,076)
Gain on securities - net 3,757,530 411,440
Other income 510,517 644,381
Total non mark-up / interest income 23,379,048 17,094,339
Total income 95,137,572 92,053,511
Non mark-up / interest expenses
Operating expenses 42,745,343 40,060,602
Workers' Welfare Fund 1,021,926 864,956
Other charges 198,557 167,335
Total non mark-up / interest expenses 43,965,826 41,092,893
Profit before provisions 51,171,746 50,960,618
(Reversal) / provisions and write-offs- net (955,407) 16,768,148
Profit before taxation 52,127,153 34,192,470
Taxation 21,245,030 13,293,687
Profit after taxation 30,882,123 20,898,783
----------- (Rupees) -----------
Earnings per share - basic and diluted 25.23 17.07
Annexure B
CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2021
2021 2020
------------ (Rupees in '000) ------------
Mark-up / return / interest earned 152,761,180 156,078,787
Mark-up / return / interest expensed 78,025,366 79,005,574
Net mark-up / interest income 74,735,814 77,073,213
Non mark-up / interest income
Fee and commission income 14,716,632 12,830,086
Dividend income 1,570,903 872,029
Foreign exchange income 4,152,183 3,857,888
Income / (loss) from derivatives 21,549 (13,076)
Gain on securities - net 3,477,786 610,230
Other income 382,137 687,298
Total non mark-up / interest income 24,321,190 18,844,455
Total income 99,057,004 95,917,668
Non mark-up / interest expenses
Operating expenses 47,447,066 43,743,044
Workers' Welfare Fund 1,035,013 873,966
Other charges 198,557 167,335
Total non mark-up / interest expenses 48,680,636 44,784,345
Share of profit of associates 342,160 504,542
Profit before provisions 50,718,528 51,637,865
(Reversals) / provisions and write offs - net (1,448,527) 17,255,678
Profit before taxation from continuing operations 52,167,055 34,382,187
Taxation 21,474,478 13,577,280
Profit after taxation from continuing operations 30,692,577 20,804,907
Discontinued operation
Loss from discontinued operation - net of tax (70,678) (16,373)
30,621,899 20,788,534
Attributable to:
Equity holders of the Bank
from continuing operations 30,479,455 20,954,291
from discontinued operation (70,678) (16,373)
30,408,777 20,937,918
Non-controlling interest 213,122 (149,384)
30,621,899 20,788,534
----------------- (Rupees) -----------------
Earnings per share for profit from continuing operations attributable 24.90 17.12
to the equity holders of the Bank -
Basic and diluted
Earnings per share for profit attributable to the equity holders of the Bank - 24.84 17.10
Basic and diluted
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