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3rd Quarter Results

25 Oct 2011 09:05

RNS Number : 7764Q
United Bank Limited
25 October 2011
 



Secretary's Department

 

UBL/BOD/KSE/Results

25 October 2011

 

FORM- 7

 

Fax No. 111-573-329

 

The Managing Director

The Karachi Stock Exchange (Guarantee) Limited

Stock Exchange Building

Stock Exchange Road

Karachi

 

Dear Sir,

 

FINANCIAL RESULTS FOR THE THIRD QUARTER ENDED 30-09-2011

 

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 174th meeting held on 25 October 2011 at 10:00 a.m. (UAE Time) at Abu Dhabi, UAE declared the following:

 

(i) CASH DIVIDEND

 

------NIL-------

 

(ii) BONUS SHARES

 

------NIL------

 

(iii) RIGHT SHARES

 

------NIL---------

 

(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION

 

------NIL-------

 

(v) ANY OTHER PRICE-SENSITIVE INFORMATION

 

----NIL-------

 

 

1/2

 

 

 

 

 

The financial results of the Company are appended at Annexure "A" for Unconsolidated & Annexure "B" Consolidated Accounts of the said period.

 

We will be sending you 300 copies of printed Accounts for distribution amongst the members of the exchange.

 

 

Yours faithfully,

 

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

 

 

 

 

 

 

C.C. to : 1) Citibank, N.A. Karachi Branch, Custodian of UBL, GDRs

2) London Stock Exchange

3) State Bank of Pakistan

 

 

 

 

 

 

 

 

 

 

 

2/2

 

 

 

 

 

 

Annexure - A

UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2011

 

Jul- Sep 2011

Jul-Sep 2010

Jan-Sep 2011

Jan-Sep 2010

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

Mark-up / return / interest earned

18,473,595

14,777,764

52,532,004

43,237,719

Mark-up / return / interest expensed

(8,152,142)

(6,169,039)

(22,898,926)

(18,025,424)

Net mark-up / return / interest income

10,321,453

8,608,725

29,633,078

25,212,295

Provision against loans and advances - net

(1,437,810)

(1,861,529)

(5,830,654)

(5,254,930)

Provision against lendings to financial institutions

-

-

(91,354)

-

Provision for diminution in value of investments - net

(46,468)

(77,667)

(251,983)

(142,136)

Bad debts written off directly

(103,324)

(217,134)

(336,440)

(853,043)

(1,587,602)

(2,156,330)

(6,510,431)

(6,250,109)

Net mark-up / return / interest income after provisions

8,733,851

6,452,395

23,122,647

18,962,186

Non mark-up / return / interest income

 Fee, commission and brokerage income

1,711,515

1,602,632

4,991,508

4,710,386

 Dividend income

107,757

169,715

429,750

447,342

 Income from dealing in foreign currencies

441,235

505,441

1,516,804

1,197,474

 Gain on sale of securities

49,209

8,701

245,115

149,032

 Unrealised gain / (loss) on revaluation of investments

classified as held for trading

106,216

(2,179)

54,847

(24,567)

 Other income

622,395

280,917

1,698,893

813,888

Total non mark-up / return / interest income

3,038,327

2,565,227

8,936,917

7,293,555

 

 

11,772,178

9,017,622

32,059,564

26,255,741

Non mark-up / interest expenses

 Administrative expenses

(5,016,266)

(4,474,994)

(14,758,344)

(12,990,733)

 Other provisions / write offs / reversals - net

(14,724)

14,084

(1,020)

130,641

 Workers' welfare fund

(151,111)

(122,246)

(369,820)

(300,613)

 Other charges

(67,661)

(74,991)

(178,622)

(170,052)

Total non mark-up / interest expenses

(5,249,762)

(4,658,147)

(15,307,806)

(13,330,757)

Profit before taxation

6,522,416

4,359,475

16,751,758

12,924,984

Taxation

- Current

(2,670,332)

(2,132,147)

(6,485,379)

(5,230,611)

- Prior

(370,165)

(1,693)

(362,636)

(396,443)

- Deferred

765,990

633,926

1,048,707

762,343

(2,274,507)

(1,499,914)

(5,799,308)

(4,864,711)

Profit after taxation

4,247,909

2,859,561

10,952,450

8,060,273

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

 

 

Basic and diluted earnings per share

3.47

2.34

8.95

6.58

 

 

 

 

 

Annexure - B

Consolidated Condensed Interim Profit and Loss Account (Un-audited)

 

For the nine months ended September 30, 2011

Jul - Sep 2011

Jul - Sep 2010

Jan- Sep 2011

Jan- Sep 2010

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

 

Mark-up / return / interest earned

18,708,674

14,988,884

53,196,597

43,786,179

 

Mark-up / return / interest expensed

(8,223,404)

(6,223,066)

(23,072,829)

(18,151,134)

 

Net mark-up / return / interest income

10,485,270

8,765,818

30,123,768

25,635,045

 

 

Provision against loans and advances - net

(1,437,810)

(1,861,850)

(5,830,654)

(5,287,529)

 

Provision against lendings to financial institutions

-

-

(91,354)

-

 

Provision for diminution in value of investments - net

(46,468)

(88,159)

(254,013)

(148,889)

 

Bad debts written off directly

(103,324)

(217,134)

(336,440)

(853,043)

 

(1,587,602)

(2,167,143)

(6,512,461)

(6,289,461)

 

Net mark-up / return / interest income after provisions

8,897,668

6,598,675

23,611,307

19,345,584

 

Non Mark-up / return/ interest Income

 

Fee, commission and brokerage income

1,910,575

1,730,538

5,513,175

5,167,258

 

Dividend income

34,198

27,405

131,186

69,290

 

Income from dealing in foreign currencies

459,252

518,858

1,567,887

1,233,484

 

Gain on sale of securities

49,889

4,931

255,965

147,087

 

Unrealized gain / (loss) on revaluation of investments classified as

 

held for trading

108,475

10,785

62,356

(12,316)

 

Other income

656,662

308,830

1,812,180

901,417

 

Total non mark-up / return / interest income

3,219,051

2,601,347

9,342,749

7,506,220

 

12,116,719

9,200,022

32,954,056

26,851,804

 

Non Mark-up / Interest Expenses

 

Administrative expenses

(5,391,542)

(4,777,873)

(15,897,196)

(13,945,789)

 

Other provisions / write offs / reversals - net

(14,724)

14,084

(1,020)

130,641

 

Workers' welfare fund

(151,367)

(123,101)

(370,971)

(303,133)

 

Other charges

(67,661)

(74,991)

(178,622)

(170,052)

 

Total non mark-up / interest expenses

(5,625,294)

(4,961,881)

(16,447,809)

(14,288,333)

 

6,491,425

4,238,141

16,506,247

12,563,472

 

Share of (loss) / income of associates

(26,109)

56,290

(100,669)

240,941

 

Profit before taxation

6,465,316

4,294,431

16,405,578

12,804,413

 

 

Taxation - Current

(2,672,451)

(2,145,987)

(6,492,146)

(5,263,021)

 

- Prior

(370,165)

(1,693)

(362,636)

(396,443)

 

- Deferred

766,301

634,627

1,047,953

762,258

 

(2,276,315)

(1,513,053)

(5,806,829)

(4,897,206)

 

Profit after taxation

4,189,001

2,781,378

10,598,749

7,907,207

 

 

Attributable to:

 

Equity shareholders of the Bank

4,176,252

2,793,532

10,596,978

7,959,663

 

Non-controlling interest

12,749

(12,154)

1,771

(52,456)

 

4,189,001

2,781,378

10,598,749

7,907,207

 

 

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

 

 

Basic and diluted earnings per share

3.41

2.28

8.66

6.50

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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