Last checked at 17 Apr 2024 11:50
Secretary's Department
UBL/BOD-249/PSX/Results/24
17 April 2024
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the 1stQuarter Ended 31 March 2024
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 249th meeting held on Wednesday, 17 April 2024 at Islamabad at 10:00 a.m. inter-alia approved the following:
(i) Cash Dividend
An Interim Cash Dividend for the quarter ended 31 March 2024 at Rs.11/- per share i.e. 110%.
(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, 26 April 2024.
The Share Transfer Books of UBL will remain closed from 29 April 2024 to 01 May 2024 (both days inclusive). Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, Plot No. 32-C, Jami Commercial Street-2 D.H.A. Phase-VII Karachi-75400 at the close of business on Friday, 26 April 2024 will be treated in time for the purpose of above entitlement to the transferees.
The accounts / report of the Bank for the 1st Quarter ended 31 March 2024 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 THREE MONTHS ENDED MARCH 31, 2024
| January -March 2024 |
| January - March 2023 |
| ---------- (Rupees in '000) ---------- | ||
| |||
Mark-up / return / interest earned | 238,626,523 | 89,837,039 | |
Mark-up / return / interest expensed | 212,012,393 | 56,581,978 | |
Net mark-up / interest income | 26,614,130 | 33,255,061 | |
Non-mark-up / interest income |
| ||
Fee and commission income | 5,269,354 | 4,337,566 | |
Dividend income | 473,165 | 475,449 | |
Foreign exchange income | 2,675,845 | 4,346,597 | |
(Loss) / income from derivatives | (64,846) | 21,494 | |
Gain / (loss) on securities - net | 12,808,746 | (639,894) | |
Net loss on derecognition of financial assets measured at amortised cost | (947,561) | - | |
Other income | 181,837 | 240,189 | |
Total non-mark-up / interest income | 20,396,540 | 8,781,401 | |
Total income | 47,010,670 | 42,036,462 | |
Non-mark-up / interest expenses |
| ||
Operating expenses | 17,609,729 | 14,525,160 | |
Workers' Welfare Fund | 668,478 | 496,085 | |
Other charges | 866 | 1,521 | |
Total non-mark-up / interest expenses | 18,279,073 | 15,022,766 | |
Profit before credit loss allowance | 28,731,597 | 27,013,696 | |
Credit loss allowance and write-offs - net | (1,719,712) | 2,614,591 | |
Profit before taxation | 30,451,309 | 24,399,105 | |
Taxation | 14,862,852 | 10,496,365 | |
Profit after taxation | 15,588,457 | 13,902,740 | |
---------- (Rupees) ---------- | |||
| |||
Earnings per share - basic and diluted | 12.73 | 11.36 | |
Annexure B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2024
|
January -March 2024 |
|
January - March 2023 |
| |
| ---------- (Rupees in '000) ---------- |
| |||
| |||||
Mark-up / return / interest earned | 243,023,585 | 92,568,156 |
| ||
Mark-up / return / interest expensed | 214,922,381 | 57,620,727 |
| ||
Net mark-up / interest income | 28,101,204 | 34,947,429 |
| ||
| |||||
Non-mark-up / interest income |
|
| |||
Fee and commission income | 5,937,228 | 4,781,571 |
| ||
Dividend income | 473,165 | 475,449 |
| ||
Foreign exchange income | 2,718,981 | 4,438,640 |
| ||
Loss from derivatives | (64,846) | (37,606) |
| ||
Gain / (loss) on securities - net | 12,828,808 | (637,132) |
| ||
Net loss on derecognition of financial assets measured at amortised cost | (947,561) | - |
| ||
Other income | 330,474 | 234,196 |
| ||
Total non-mark-up / interest income | 21,276,249 | 9,255,118 |
| ||
Total income | 49,377,453 | 44,202,547 |
| ||
|
| ||||
Non-mark-up / interest expenses |
| ||||
Operating expenses | 19,190,077 | 15,719,975 |
| ||
Workers' Welfare Fund | 676,423 | 500,158 |
| ||
Other charges | 866 | 1,521 |
| ||
Total non-mark-up / interest expenses | 19,867,366 | 16,221,654 |
| ||
| |||||
Share of loss of associates | (48,299) | (158,245) |
| ||
Profit before credit loss allowance | 29,461,788 | 27,822,648 |
| ||
Credit loss allowance and write-offs - net | (1,717,889) | 2,714,605 |
| ||
Profit before taxation | 31,179,677 | 25,108,043 |
| ||
|
| ||||
Taxation | 15,040,768 | 10,637,315 |
| ||
| |||||
Profit after taxation | 16,138,909 |
| 14,470,728 |
| |
Attributable to: |
|
| |||
Equity holders of the Bank | 15,977,409 |
| 14,226,896 |
| |
Non-controlling interest | 161,500 |
| 243,832 |
| |
| 16,138,909 |
| 14,470,728 |
| |
|
| ||||
---------- (Rupees) ---------- | |||||
Earnings per share - basic and diluted | 13.05 | 11.62 |
| ||
|
| ||||
| |||||