Last checked at 23 Apr 2013 13:02
Secretary's Department
UBL/BOD/KSE/Results
23 April 2013
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 FIRST QUARTER ENDED 31-03-2013
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 184th meeting held on 23 April 2013 at 11:00 a.m. (UAE Time) at Abu Dhabi, UAE declared the following:
(i) CASH DIVIDEND
Interim Cash Dividend for the year 2013 at Rs.2.00 per share i.e 20%.
(ii) BONUS SHARES
------NIL------
(iii) RIGHT SHARES
------NIL---------
(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION
------NIL-------
(v) ANY OTHER PRICE-SENSITIVE INFORMATION
----NIL-------
The Share Transfer Books of the Company will be closed from 15-05-2013 to 22-05-2013 (both days inclusive). Transfers received at the office of the Company's Share Registrar, M/s. THK Associates (Pvt.) Ltd. Ground Floor, State Life Building No.3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on 14-05-2013 will be treated in time for the purpose of above entitlement to the transferees.
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The financial results of the Company are appended at Annexure "A" for Standalone & 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,
Sd/-
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
4) 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 QUARTER ENDED MARCH 31, 2013
| |||
March 31 2013 | March 31, 2012 | ||
------- (Rupees in '000) ------- | |||
Mark-up / return / interest earned | 17,005,878 | 17,695,825 | |
Mark-up / return / interest expensed | (8,218,114) | (8,095,394) | |
Net mark-up / interest income | 8,787,764 | 9,600,431 | |
Provision against loans and advances - net | (419,155) | (611,397) | |
Reversal / (provision) against lendings to financial institutions - net | 4,338 | (81,150) | |
(Provision) / reversal for diminution in value of investments - net | (13,220) | 6,171 | |
Bad debts written off directly | (44,691) | (79,278) | |
(472,728) | (765,654) | ||
Net mark-up / interest income after provisions | 8,315,036 | 8,834,777 | |
Non mark-up / interest income | |||
Fee, commission and brokerage income | 2,344,275 | 1,866,484 | |
Dividend income | 548,856 | 810,201 | |
Income from dealing in foreign currencies | 394,018 | 568,258 | |
Gain on sale of securities - net | 393,011 | 416,959 | |
Unrealized gain / (loss) on revaluation of investments classified as | |||
held for trading | 6,222 | (2,008) | |
Other income | 168,191 | 434,241 | |
Total non mark-up / interest income | 3,854,573 | 4,094,135 | |
12,169,609 | 12,928,912 | ||
Non mark-up / interest expenses | |||
Administrative expenses | (6,182,132) | (5,526,025) | |
Other (provisions) / reversals - net | (3,954) | 1,018 | |
Workers' Welfare Fund | (116,523) | (147,332) | |
Other charges | (12,799) | (26,393) | |
Total non mark-up / interest expenses | (6,315,408) | (5,698,732) | |
Profit before taxation | 5,854,201 | 7,230,180 | |
Taxation - Current | (1,924,554) | (2,432,069) | |
- Deferred | 24,188 | 67,147 | |
(1,900,366) | (2,364,922) | ||
Profit after taxation | 3,953,835 | 4,865,258 | |
----------- (Rupees) ----------- | |||
Earnings per share - basic and diluted | 3.23 | 3.97 | |
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) Annexure-B
FOR THE QUARTER ENDED MARCH 31, 2013
March 31, 2013 | March 31, 2012 | |||
--------- (Rupees in '000) --------- | ||||
Mark-up / return / interest earned | 17,709,285 | 18,007,742 | ||
Mark-up / return / interest expensed | (8,567,121) | (8,214,551) | ||
Net mark-up / interest income | 9,142,164 | 9,793,191 | ||
Provision against loans and advances - net | (525,584) | (606,436) | ||
Reversal / (provision) against lendings to financial institutions - net | 4,338 | (81,150) | ||
(Provision) / reversal for diminution in value of investments - net | (13,220) | 6,171 | ||
Bad debts written off directly | (44,691) | (79,278) | ||
(579,157) | (760,693) | |||
Net mark-up / interest income after provisions | 8,563,007 | 9,032,498 | ||
Non mark-up / interest income | ||||
Fee, commission and brokerage income | 2,653,593 | 2,160,069 | ||
Dividend income | 542,851 | 172,989 | ||
Income from dealing in foreign currencies | 416,029 | 587,732 | ||
Gain on sale of securities - net | 1,000,117 | 417,204 | ||
Unrealized gain / (loss) on revaluation of investments | ||||
classified as held for trading | 6,287 | (4,339) | ||
Other income | 183,442 | 454,942 | ||
Total non mark-up / interest income | 4,802,319 | 3,788,597 | ||
13,365,326 | 12,821,095 | |||
Non mark-up / interest expenses | ||||
Administrative expenses | (6,651,519) | (5,977,121) | ||
Other provisions - net | (3,954) | (13,831) | ||
Workers' welfare fund | (117,315) | (148,362) | ||
Other charges | (12,799) | (26,393) | ||
Total non mark-up / interest expenses | (6,785,587) | (6,165,707) | ||
6,579,739 | 6,655,388 | |||
Share of income of associates | 294,359 | 587,960 | ||
Profit before taxation | 6,874,098 | 7,243,348 | ||
Taxation | ||||
- Current | (1,948,654) | (2,445,220) | ||
- Deferred | 23,284 | 65,555 | ||
(1,925,370) | (2,379,665) | |||
Profit after taxation | 4,948,728 | 4,863,683 | ||
Attributable to: | ||||
Equity shareholders of the Bank | 4,675,952 | 4,857,305 | ||
Non-controlling interest | 272,776 | 6,378 | ||
4,948,728 | 4,863,683 | |||
------------ (Rupees) ------------ | ||||
Earnings per share - basic and diluted | 3.82 | 3.97 | ||