REG - United Bank Limited - Financial Results Year Ended 31 December 2022
22/02/2023 11:45
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RNS Number : 7358Q United Bank Limited 22 February 2023
Secretary's
Department
UBL/BOD-241/PSX/Results/23
22 February 2023
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the Year Ended 31 December 2022
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 241(st) Meeting held on Wednesday at 10:00 a.m., 22 February
2023 at Islamabad inter-alia recommended the following:
(i) Cash Dividend
A final Cash Dividend for the year 31 December 2022 at Rs.9/- per share
i.e.90%. This is in addition to Interim Dividend already paid at Rs.13 per
share i.e. 130%
(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 64(th) Annual General Meeting (AGM) of UBL
will be held on Wednesday 09:30 a.m., 29 March 2023 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 Tuesday, 21 March
2023.
The Share Transfer Books of UBL will remain closed from 22 March 2023 to 29
March 2023 (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 Tuesday, 21 March 2023 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 2022 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, 2022
2022 2021
---------- (Rupees in '000) ----------
Mark-up / return / interest earned 250,678,678 147,974,155
Mark-up / return / interest expensed 147,469,357 76,215,631
Net mark-up / interest income 103,209,321 71,758,524
Non-mark-up / interest income
Fee and commission income 15,871,191 13,063,973
Dividend income 2,093,393 2,033,934
Foreign exchange income 8,414,415 3,991,545
Gain from derivatives 48,147 21,549
Gain on securities - net 466,415 3,757,530
Other income 7,549,010 510,517
Total non-mark-up / interest income 34,442,571 23,379,048
Total income 137,651,892 95,137,572
Non-mark-up / interest expenses
Operating expenses 52,284,342 42,745,343
Workers' Welfare Fund 1,339,336 1,021,926
Other charges 48,862 198,557
Total non-mark-up / interest expenses 53,672,540 43,965,826
Profit before provisions 83,979,352 51,171,746
Provisions / (reversals) and write-offs- net 15,669,346 (955,407)
Profit before taxation 68,310,006 52,127,153
Taxation 36,247,351 21,245,030
Profit after taxation 32,062,655 30,882,123
---------- (Rupees) ----------
Earnings per share - basic and diluted 26.19 25.23
Annexure B
CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2022
2022 2021
---------- (Rupees in '000) ----------
Mark-up / return / interest earned 257,829,501 152,761,180
Mark-up / return / interest expensed 150,086,273 78,025,366
Net mark-up / interest income 107,743,228 74,735,814
Non-mark-up / interest income
Fee and commission income 17,243,484 14,716,632
Dividend income 1,536,659 1,570,903
Foreign exchange income 8,595,998 4,152,183
Gain on derivatives 963,928 21,549
Gain on securities - net 560,588 3,477,786
Other income 7,606,522 382,137
Total non-mark-up / interest income 36,507,179 24,321,190
Total income 144,250,407 99,057,004
Non-mark-up / interest expenses
Operating expenses 56,164,757 47,447,066
Workers' Welfare Fund 1,352,568 1,035,013
Other charges 48,862 198,557
Total non-mark-up / interest expenses 57,566,187 48,680,636
Share of (loss) / profit of associates (650,058) 342,160
Profit before provisions 86,034,162 50,718,528
Provisions / (reversals) and write offs - net 17,598,771 (1,448,527)
Profit before taxation from continuing operations 68,435,391 52,167,055
Taxation 36,374,642 21,474,478
Profit after taxation from continuing operations 32,060,749 30,692,577
Discontinued operations
Profit / (loss) from discontinued operations - net of tax 20,949 (70,678)
32,081,698 30,621,899
Attributable to:
Equity holders of the Bank
from continuing operations 31,514,545 30,479,455
from discontinued operations 20,949 (70,678)
31,535,494 30,408,777
Non-controlling interest 546,204 213,122
32,081,698 30,621,899
---------- (Rupees) ----------
Earnings per share for profit from continuing operations attributable 25.74 24.90
to the equity holders of the Bank
Basic and diluted
Earnings per share for profit attributable to the equity holders of the Bank 25.76 24.84
Basic and diluted
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