REG - United Bank Limited - Half Yearly Accounts ended 30 June, 2021 of UBL

United BankAnnouncement

09/08/2021 10:45

RNS Number : 0081I
  
United Bank Limited
  
09 August 2021
  
 

                                                                                                                     Secretary's Department
             UBL/BOD-233/PSX/Results/21
             06 August 2021
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 2021
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 233rd meeting held on Friday, 06 August 2021 at 03:00 p.m. inter-alia recommended the following:
(i)            Cash Dividend
 
An Interim Cash Dividend for the Half Year ended 30 June 2021 at Rs. 4/- per share i.e. 40%. This is in addition to interim Dividend already paid at Rs.4/- per share i.e. 40%.
 
(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 Friday, 27 August 2021.
The Share Transfer Books of UBL will remain closed from 28 August 2021 to 03 September 2021 (both days inclusive).  Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, Plot No. C-32, Jami Commercial Street-2 D.H.A. Phase-VII Karachi-75400 at the close of business on Friday, 27 August 2021 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 2021 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, 2021




 


 


 April - June 2021 


 


 April - June 2020 


 


 January - June 2021 


 


 January - June 2020 




 


 


 


 


 




 


 


-------------- (Rupees in '000) --------------




Mark-up / return / interest earned


 


  35,925,457 


 


    43,067,661 


 


67,751,048 


 


     86,448,014 




Mark-up / return / interest expensed


 


  17,694,416 


 


    21,289,376 


 


32,662,142 


 


     47,327,204 




Net mark-up / interest income


 


  18,231,041 


 


    21,778,285 


 


35,088,906 


 


     39,120,810 




 


 


 


 


 


 


 


 


 




Non mark-up / interest income


 


 


 


 


 


 


 


 




Fee and commission income


 


    3,564,368 


 


       2,261,860 


 


6,604,890 


 


       5,248,309 




Dividend income


 


       628,742 


 


          399,431 


 


881,158 


 


           793,328 




Foreign exchange income 


 


       710,330 


 


       1,000,193 


 


1,194,558 


 


       1,732,617 




Income / (loss) from derivatives


 


            1,504 


 


             (2,234)


 


8,758 


 


           (13,508)




Gain on securities - net


 


       677,562 


 


          334,118 


 


2,544,500 


 


           676,337 




Other income 


 


          63,606 


 


          269,359 


 


195,629 


 


           491,513 




Total non mark-up / interest income


 


    5,646,112 


 


       4,262,727 


 


11,429,493 


 


       8,928,596 




Total Income


 


  23,877,153 


 


    26,041,012 


 


46,518,399 


 


     48,049,406 




 


 


 


 


 


 


 


 


 




Non mark-up / Interest expenses


 


 


 


 


 


 


 


 




Operating expenses


 


  10,345,999 


 


       9,689,626 


 


20,198,825 


 


     19,163,219 




Workers' Welfare Fund


 


       272,283 


 


          280,975 


 


517,178 


 


           499,275 




Other charges / (reversals)


 


          14,947 


 


           (28,706)


 


39,494 


 


           152,333 




Total non mark-up / interest expenses


 


  10,633,229 


 


       9,941,895 


 


20,755,497 


 


     19,814,827 




 


 


 


 


 


 


 


 


 




Profit before provisions


 


  13,243,924 


 


    16,099,117 


 


25,762,902 


 


     28,234,579 




(Reversals) / provisions and write-offs - net


 


      (441,467)


 


       5,729,367 


 


(87,396)


 


9,429,821 




 


 


 


 


 


 


 


 


 




PROFIT BEFORE TAXATION


 


  13,685,391 


 


    10,369,750 


 


     25,850,298 


 


     18,804,758 




 


 


 


 


 


 


 


 


 




Taxation 


 


    6,092,761 


 


       4,028,953 


 


10,852,991 


 


       7,403,980 




 


 


 


 


 


 


 


 


 




PROFIT AFTER TAXATION


 


    7,592,630 


 


       6,340,797 


 


14,997,307 


 


     11,400,778 




 


 


 


 


 


 


 


 


 




 


 


----------- (Rupees) -----------




 


 


 


 


 


 


 


 


 




Earnings per share - basic and diluted


 


6.20


 


5.18


 


12.25


 


9.31 




 
 
 
                                                                                                
ANNEXURE B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2021
 




 


 


 


 


April - June 2021 


 


 April - June 2020 


 


 January - June 2021 


 


 January - June 2020 




 


 


 


 


------------------------------ (Rupees in '000) ------------------------------




 


 


 


 


 


 


 


 


 


 


 




Mark-up / return / interest earned


 


36,873,518 


 


44,068,763


 


69,804,068


 


88,442,946




Mark-up / return / interest expensed


 


18,044,127 


 


21,789,072


 


33,469,771


 


48,373,814




Net mark-up / interest income


 


18,829,391


 


22,279,691


 


36,334,297


 


40,069,132




 


 


 


 


 


 


 


 


 


 


 




Non mark-up / interest income


 


 


 


 


 


 


 


 




Fee and commission income


 


3,651,729


 


2,642,479


 


7,121,063


 


6,152,592




Dividend income


 


182,866


 


218,133


 


435,072


 


395,832




Foreign exchange income 


 


736,225


 


1,050,376


 


1,260,733


 


1,821,352




Income / (loss) from derivatives


 


1,504


 


(2,234)


 


8,758


 


(13,508)




Gain on securities - net


 


709,535


 


400,209


 


2,583,607


 


858,261




Other income 


 


58,722


 


314,350


 


186,607


 


488,949




Total non mark-up / interest income


 


5,340,581


 


4,623,313


 


11,595,840


 


9,703,478




Total income


 


24,169,972


 


26,903,004


 


47,930,137


 


49,772,610




 


 


 


 


 


 


 


 


 


 


 




Non mark-up / interest expenses


 


 


 


 


 


 


 


 




Operating expenses


 


11,008,395


 


10,631,755


 


21,793,028


 


20,946,569




Workers' Welfare Fund


 


273,358


 


283,511


 


521,852


 


502,933




Other charges


 


14,947


 


(28,706)


 


39,494


 


152,333




Total non mark-up / interest expenses


 


11,296,700


 


10,886,560


 


22,354,374


 


21,601,835




 


 


 


 


 


 


 


 


 


 


 




Share of profit of associates


 


72,784


 


191,665


 


224,786


 


44,129




Profit before provisions


 


12,946,056


 


16,208,109


 


25,800,549


 


28,214,904




(Reversals) / provisions and write-offs - net


 


(534,265)


 


6,251,277


 


(157,933)


 


9,952,594




Profit before taxation from continuing operations


 


13,480,321


 


9,956,832


 


25,958,482


 


18,262,310




 


 


 


 


 


 


 


 


 


 


 




Taxation 


 


 


6,127,353


 


4,125,432


 


11,019,580


 


7,525,752




 


 


 


 


 


 


 


 


 


 


 




Profit after taxation from continuing operations


 


7,352,968


 


5,831,400


 


14,938,902


 


10,736,558




 


 


 


 


 


 


 


 


 


 


 




Discontinued operations


 


 


 


 


 


 


 


 




 


 


 


 


 


 


 


 


 


 


 




Profit / (loss) from discontinued operations - net of  tax


 


106,507


 


(16,776)


 


106,474


 


(10,271)




 


 


 


 


 


 


 


 


 


 


 




Profit after taxation


 


7,459,475


 


5,814,624


 


15,045,376


 


10,726,287




 


 


 


 


 


 


 


 


 


 


 




Attributable to:


 


 


 


 


 


 


 


 




Equity holders of the Bank


 


 


 


 


 


 


 


 




 from continuing operations


 


7,282,454


 


6,085,264


 


14,881,184


 


10,956,381




 from discontinued operations


 


106,507


 


(16,776)


 


106,474


 


(10,271)




 


 


 


 


7,388,961


 


6,068,488


 


14,987,658


 


10,946,110




Non-controlling interest


 


70,514


 


(253,864)


 


57,718


 


(219,823)




 


 


 


 


7,459,475


 


5,814,624


 


15,045,376


 


10,726,287




 


 


 


 


 


 


 


 


 


 


 




 


 


 


 


--------------------------------------- (Rupees) ---------------------------------------




Earnings per share for profit from continuing operations 


 


 


 


 


 


 


 


 




 attributable to the ordinary equity holders of the Bank


 


 


 


 


 


 


 


 




Basic and diluted


 


5.95


 


4.97


 


12.16


 


8.95




 


 


 


 


 


 


 


 


 


 


 




Earnings per share for profit attributable to the ordinary 


 


 


 


 


 


 


 


 




 equity holders of the Bank


 


 


 


 


 


 


 


 




Basic and diluted


 


6.04


 


4.96


 


12.24


 


8.94




 
 

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