Last checked at 22 Apr 2021 07:57
Secretary's Department
UBL/BOD-232/PSX/Results/21
21 April 2021
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the 1stQuarter Ended 31 March 2021
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 232nd meeting held on Wednesday, 21 April 2021 at 03:00 p.m. inter-alia recommended the following:
(i) Cash Dividend
An Interim Cash Dividend for the 1stquarter ended 31 March 2021 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 Tuesday, 11 May 2021.
The Share Transfer Books of UBL will remain closed from 12 May 2021 to 19 May 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 Tuesday, 11 May 2021 will be treated in time for the purpose of above entitlement to the transferees.
The accounts / report of the Bank for the 1stQuarter ended 31 March 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) 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.
Annexure A
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2021
|
| January - March2021 |
| January -March2020 |
|
| -------------- (Rupees in '000) -------------- | ||
|
|
|
|
|
Mark-up / return / interest earned |
| 31,825,591 |
| 43,380,353 |
Mark-up / return / interest expensed |
| 14,967,726 |
| 26,037,828 |
Net mark-up / interest income |
| 16,857,865 |
| 17,342,525 |
|
|
|
|
|
|
|
|
|
|
Non mark-up / interest income |
|
|
|
|
Fee and commission income |
| 3,040,522 |
| 3,035,253 |
Dividend income |
| 252,416 |
| 393,897 |
Foreign exchange income |
| 484,228 |
| 732,424 |
Income / (loss) from derivatives |
| 7,254 |
| (11,274) |
Gain on securities - net |
| 1,866,938 |
| 342,219 |
Other income |
| 132,023 |
| 173,350 |
Total non mark-up / interest income |
| 5,783,381 |
| 4,665,869 |
Total income |
| 22,641,246 |
| 22,008,394 |
|
|
|
|
|
Non mark-up / interest expenses |
|
|
|
|
Operating expenses |
| 9,852,826 |
| 9,473,593 |
Workers' Welfare Fund |
| 244,895 |
| 218,300 |
Other charges |
| 24,547 |
| 181,039 |
Total non mark-up / interest expenses |
| 10,122,268 |
| 9,872,932 |
|
|
|
|
|
Profit before provisions |
| 12,518,978 |
| 12,135,462 |
|
|
|
|
|
Provisions and write-offs - net |
| 354,071 |
| 3,700,454 |
|
|
|
|
|
Profit before taxation |
| 12,164,907 |
| 8,435,008 |
|
|
|
|
|
Taxation |
| 4,760,230 |
| 3,375,027 |
|
|
|
|
|
Profit after taxation |
| 7,404,677 |
| 5,059,981 |
|
|
|
|
|
|
| ----------- (Rupees) ----------- | ||
|
|
|
|
|
Earnings per share - basic and diluted |
| 6.05 |
| 4.13 |
Annexure B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT
FOR THE THREE MONTHS ENDED MARCH 31, 2021
| January - March 2021 |
| January - March 2020 |
|
| ------------ (Rupees in '000) ------------ |
| ||
|
|
|
|
|
Mark-up / return / interest earned | 32,930,550 |
| 44,374,183 |
|
Mark-up / return / interest expensed | 15,425,644 |
| 26,584,742 |
|
Net mark-up / interest income | 17,504,906 |
| 17,789,441 |
|
|
|
|
|
|
Non mark-up / interest income |
|
|
|
|
Fee and commission income | 3,469,334 |
| 3,510,113 |
|
Dividend income | 252,206 |
| 177,699 |
|
Foreign exchange income | 524,508 |
| 770,976 |
|
Income / (loss) from derivatives | 7,254 |
| (11,274) |
|
Gain on securities - net | 1,874,072 |
| 458,052 |
|
Other income | 127,885 |
| 174,599 |
|
Total non mark-up / interest income | 6,255,259 |
| 5,080,165 |
|
Total income | 23,760,165 |
| 22,869,606 |
|
|
|
|
|
|
Non mark-up / interest expenses |
|
|
|
|
Operating expenses | 10,784,633 |
| 10,314,814 |
|
Workers' Welfare Fund | 248,494 |
| 219,422 |
|
Other charges | 24,547 |
| 181,039 |
|
Total non mark-up / interest expenses | 11,057,674 |
| 10,715,275 |
|
|
|
|
|
|
Share of profit / (loss) of associates | 152,002 |
| (147,536) |
|
Profit before provisions | 12,854,493 |
| 12,006,795 |
|
Provisions and write-offs - net | 376,332 |
| 3,701,317 |
|
Profit before taxation from continuing operations | 12,478,161 |
| 8,305,478 |
|
|
|
|
|
|
Taxation | 4,892,227 |
| 3,400,320 |
|
|
|
|
|
|
Profit after taxation from continuing operations | 7,585,934 |
| 4,905,158 |
|
|
|
|
|
|
Discontinued operation |
|
|
|
|
|
|
|
|
|
(Loss) / profit from discontinued operation - net of tax | (33) |
| 6,505 |
|
|
|
|
|
|
| 7,585,901 |
| 4,911,663 |
|
Attributable to: |
|
|
|
|
Equity holders of the Bank |
|
|
|
|
from continuing operations | 7,598,730 |
| 4,871,117 |
|
from discontinued operation | (33) |
| 6,505 |
|
| 7,598,697 |
| 4,877,622 |
|
Non-controlling interest | (12,796) |
| 34,041 |
|
| 7,585,901 |
| 4,911,663 |
|
|
|
|
|
|
| ------------------- (Rupees) ------------------- | |||
Earnings per share for profit from continuing operations attributable to the ordinary equity holders of the Bank Basic and diluted | 6.21 |
| 3.98 |
|
|
|
|
|
|
Earnings per share for profit attributable to the ordinary equity holders of the Bank Basic and diluted | 6.21 |
| 3.98 |
|
|
|
|
|
|