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23 Apr 2020 10:41
Secretary's Department
UBL/BOD-226/PSX/Results/20
22 April 2020
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the Quarter Ended 31 March 2020
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 226th meeting held on Wednesday, 22 April 2020 at 4:00pm inter-alia recommended the following:
(i) Cash Dividend
An Interim Cash Dividend for the quarter ended 31 March 2020 at Rs.2.50 per share i.e. 25%.
(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 Thursday, 14 May 2020.
Page 1 of 2
The Share Transfer Books of UBL will remain closed from 15 May 2020 to 22 May 2020 (both days inclusive). Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, 1st Floor, 40-C, Block-6, P.E.C.H.S, Karachi-75400 at the close of business on Thursday, 14 May 2020 will be treated in time for the purpose of above entitlement to the transferees.
The Quarterly Report of the Bank for the period ended 31 March 2020 will be transmitted through PUCARS separately, within stipulated time.
Yours faithfully,
-Sd-
Aqeel Ahmed Nasir
Company Secretary &
Chief Legal Counsel
C.C. to:
1) Citibank N.A.1st Floor Custodian Department of UBL GDRs AWT Plaza I. I. Chundrigar Road Karachi.
2) London Stock Exchange.
3) The Commissioner, Enforcement & Monitoring Division, Securities and Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Islamabad.
Page 2 of 2
Annexure A UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) | ||||
FOR THE THREE MONTHS ENDED MARCH 31, 2020 | ||||
January - March2020 | January - March2019 | |||
-------------- (Rupees in '000) -------------- | ||||
Mark-up / return / interest earned | 43,380,353 | 31,400,113 | ||
Mark-up / return / interest expensed | 26,037,828 | 16,741,531 | ||
Net mark-up / interest income | 17,342,525 | 14,658,582 | ||
Non mark-up / interest income | ||||
Fee and commission income | 2,986,449 | 3,612,868 | ||
Dividend income | 393,897 | 226,422 | ||
Foreign exchange income | 732,424 | 907,911 | ||
(Loss) / Income from derivatives | (11,274) | 51,482 | ||
Gain on securities - net | 342,219 | 5,098 | ||
Other income | 222,154 | 170,643 | ||
Total non mark-up / interest income | 4,665,869 | 4,974,424 | ||
Total income | 22,008,394 | 19,633,006 | ||
Non mark-up / interest expenses | ||||
Operating expenses | 9,473,593 | 8,950,871 | ||
Workers' Welfare Fund | 218,300 | 181,489 | ||
Other charges | 181,039 | 1,985 | ||
Total non mark-up / interest expenses | 9,872,932 | 9,134,345 | ||
Profit before provisions | 12,135,462 | 10,498,661 | ||
Provisions and write-offs - net | 3,700,454 | 1,323,158 | ||
Extra ordinary / unusual item | - | - | ||
Profit before taxation | 8,435,008 | 9,175,503 | ||
Taxation | 3,375,027 | 5,011,702 | ||
Profit after taxation | 5,059,981 | 4,163,801 | ||
----------- (Rupees) ----------- | ||||
Earnings per share - basic and diluted | 4.13 | 3.40 | ||
Annexure B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2020
January - March 2020 | January - March 2019 | ||||||
------ (Rupees in '000) ------ | |||||||
Mark-up / return / interest earned | 44,374,183 | 32,137,781 | |||||
Mark-up / return / interest expensed | 26,584,742 | 17,170,616 | |||||
Net mark-up / interest income | 17,789,441 | 14,967,165 | |||||
Non mark-up / interest income | |||||||
Fee and commission income | 3,461,309 | 4,131,123 | |||||
Dividend income | 177,699 | 226,422 | |||||
Foreign exchange income | 770,976 | 952,802 | |||||
(Loss) / income from derivatives | (11,274) | 51,482 | |||||
Gain on securities - net | 458,052 | 41,348 | |||||
Other income | 223,403 | 108,218 | |||||
Total non mark-up / interest income | 5,080,165 | 5,511,395 | |||||
Total income | 22,869,606 | 20,478,560 | |||||
Non mark-up / interest expenses | |||||||
Operating expenses | 10,314,814 | 9,762,408 | |||||
Workers' Welfare Fund | 219,422 | 184,081 | |||||
Other charges | 181,039 | 1,985 | |||||
Total non mark-up / interest expenses | 10,715,275 | 9,948,474 | |||||
Share of (loss) / profit of associates | (147,536) | 243,571 | |||||
Profit before provisions | 12,006,795 | 10,773,657 | |||||
Provisions and write-offs - net | 3,701,317 | 883,020 | |||||
Extra ordinary / unusual item | - | - | |||||
Profit before taxation from continuing operations | 8,305,478 | 9,890,637 | |||||
Taxation | 3,400,320 | 5,052,344 | |||||
Profit after taxation from continuing operations | 4,905,158 | 4,838,293 | |||||
Discontinued operation | |||||||
Profit / (loss) from discontinued operation - net of tax | 6,505 | (785,740) | |||||
Profit after taxation | 4,911,663 | 4,052,553 | |||||
Attributable to: | |||||||
Equity holders of the Bank | |||||||
from continuing operations | 4,871,117 | 4,828,562 | |||||
from discontinued operation | 6,505 | (785,740) | |||||
4,877,622 | 4,042,822 | ||||||
Non-controlling interest | 34,041 | 9,731 | |||||
4,911,663 | 4,052,553 | ||||||
------------ (Rupees) ------------ | |||||||
Earnings per share for profit from continuing operations attributable to the ordinary equity holders of the Bank | |||||||
Basic and diluted | 3.98 | 3.94 | |||||
Earnings per share for profit attributable to the ordinary | |||||||
equity holders of the Bank | |||||||
Basic and diluted | 3.98 | 3.30 | |||||
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