Utd.bk (regs) Regulatory News (UBLS)

Annexure "A"

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

FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2009

Jul-Sep 2009

Jul-Sep 2008

Jan-Sep 2009

Jan-Sep 2008

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

Mark-up / return / interest earned

14,667,856 

13,816,334 

46,528,488 

36,986,160 

Mark-up / return / interest expensed

 (6,352,394)

(6,208,576)

 (22,339,262)

 (16,162,597)

Net mark-up / return / interest income

8,315,462 

7,607,758 

24,189,226 

20,823,563 

Provision against non-performing loans and advances - net

 (2,384,800)

(1,082,187)

 (7,702,730)

 (3,036,560)

General provision against consumer loans

63,369 

61,284 

 (8,082)

149,013 

Provision for diminution in value of investments 

 (45,567)

 (38,248)

 (659,156)

 (38,248)

Bad debts written off directly

 (324,272)

 (279,583)

 (1,024,563)

 (956,949)

(2,691,270)

(1,338,734)

 (9,394,531)

 (3,882,744)

Net mark-up / return / interest income after provisions

5,624,192 

6,269,024 

14,794,695 

16,940,819 

Non mark-up / return / interest income

Fee, commission and brokerage income

1,481,865 

1,639,080 

4,396,724 

4,690,549 

Dividend income 

36,046 

117,773 

266,180 

363,983 

(Loss)/Income from dealing in foreign currencies

 (80,302)

482,152 

444,243 

1,209,706 

Gain on sale of securities

293,683 

255,598 

647,822 

262,553 

Unrealised loss on revaluation of trading securities

 (18,091)

 (2,469)

 (18,772)

 (3,671)

Other income 

232,574 

360,348 

2,229,099 

2,363,773 

Total non mark-up / return / interest income

1,945,775 

2,852,482 

7,965,296 

8,886,893 

7,569,967 

9,121,506 

22,759,991 

25,827,712 

Non mark-up / interest expenses

Administrative expenses

 (4,212,401)

(4,101,088)

 (12,280,176)

 (11,330,288)

Other provisions / write offs / reversals

 (59,202)

 (77,691)

 (242,295)

 (272,217)

Worker welfare fund

 (113,026)

 (102,265)

 (282,371)

 (304,938)

Other charges

 (2,383)

 (681)

 (3,551)

 (182,953)

Total non mark-up / interest expenses

 (4,387,012)

(4,281,725)

 (12,808,393)

 (12,090,396)

Profit before taxation

3,182,955 

4,839,781 

9,951,598 

13,737,316 

Taxation

- Current

 (2,003,513)

(1,860,115)

 (4,950,410)

 (5,501,682)

- Prior

 (757)

 (2,289)

 (75,722)

 (47,275)

- Deferred

901,007 

260,486 

1,441,775 

643,016 

 (1,103,263)

(1,601,918)

 (3,584,357)

 (4,905,941)

Profit after taxation

2,079,692 

3,237,863 

6,367,241 

8,831,375 

Unappropriated profit brought forward

18,137,291 

15,837,790 

16,604,076 

15,653,703 

20,216,983 

19,075,653 

22,971,317 

24,485,078 

Transfer from surplus on revaluation of fixed assets - net of tax

64,174 

80,420 

190,788 

241,260 

Profit before appropriations

20,281,157 

19,156,073 

23,162,105 

24,726,338 

Appropriations

Transfer to statutory reserve

 (415,938)

 (647,573)

 (1,273,448)

 (1,766,275)

Final cash dividend for the year ended December 31, 2008

and December 31,2007 declared subsequent to 

the year end

-

-

 (1,011,719)

 (2,428,125)

Interim cash dividend for the half year ended June 30, 2008

declared subsequent to the period end

- 

(1,517,578)

- 

 (1,517,578)

Transfer to reserve for issue of bonus shares

-

-

 (1,011,719)

 (2,023,438)

 (415,938)

(2,165,151)

 (3,296,886)

 (7,735,416)

Unappropriated profit carried forward

19,865,219 

16,990,922 

19,865,219 

16,990,922 

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

Basic and diluted earnings per share

1.87 

2.91 

5.72 

7.94 

The valuation of listed equity securities / mutual funds held under 'available-for-sale' category of investments has been arrived at using the market prices quoted on the stock exchange / net assets value as of September 30, 2009 and a portion of impairment loss arising therefrom has been included in surplus on revaluation of assets - net of deferred tax as allowed by State Bank of Pakistan. Under the regular accounting policy of the bank, the same would have resulted in a charge to profit and loss account of Rs.86.224 million and consequently, the profit after tax for the half year would have been Rs.6,311 million and earnings per share would have been Rs.5.67.

Jul-Sep 2009

Jul-Sep 2008

Jan-Sep 2009

Jan-Sep 2008

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

Mark-up / return / interest earned

14,865,121

14,042,114

47,028,677

37,641,060

Mark-up / return / interest expensed

(6,393,639)

(6,258,965)

(22,456,475)

(16,312,206)

Net mark-up / interest income

8,471,482

7,783,149

24,572,202

21,328,854

Provision for non-performing loans and advances

(2,384,811)

(1,081,732)

(7,691,371)

(3,031,771)

General provision against consumer loans

63,369

61,284

(8,082)

149,013

Provision for diminution in value of investments

(45,567)

(38,248)

(659,156)

(38,248)

Bad debts written off directly

(324,272)

(279,583)

(1,024,563)

(956,949)

(2,691,281)

(1,338,279)

(9,383,172)

(3,877,955)

Net mark-up / interest income after provisions

5,780,201

6,444,870

15,189,030

17,450,899

Non mark-up / return / interest income

Fee, commission and brokerage income

1,586,427

1,914,041

4,666,095

5,476,468

Dividend income

36,449

113,798

267,093

365,087

Gain on sale of securities

324,221

255,598

719,255

262,553

Unrealised gain / (loss) on revaluation of trading securities

(18,091)

(2,469)

(18,772)

(3,671)

Income from dealing in foreign currencies

(68,153)

501,450

491,963

1,256,425

Other income

355,409

371,166

2,588,910

2,402,496

Total non mark-up / interest income

2,216,262

3,153,584

8,714,544

9,759,358

7,996,463

9,598,454

23,903,574

27,210,257

Non mark-up / interest expenses

Administrative expenses

(4,532,480)

(4,452,716)

(13,191,346)

(12,248,218)

Other provisions / write offs

(59,301)

(77,691)

(242,607)

(272,217)

Worker welfare fund

(113,026)

(102,265)

(282,371)

(304,938)

Other charges

(2,383)

(681)

(3,551)

(182,954)

Total non mark-up / interest expenses

(4,707,190)

(4,633,353)

(13,719,875)

(13,008,327)

3,289,273

4,965,101

10,183,699

14,201,930

Share of income from associates

181,201

(155,927)

393,519

(182,786)

Profit before taxation

3,470,474

4,809,174

10,577,218

14,019,144

Taxation

- Current / prior

(2,031,819)

(1,872,046)

(5,084,319)

(5,608,499)

- Deferred

901,598

260,184

1,445,126

642,513

(1,130,221)

(1,611,862)

(3,639,193)

(4,965,986)

Profit after taxation

2,340,253

3,197,312

6,938,025

9,053,158

Share of minority interest

(5,198)

(30,467)

(11,959)

(88,299)

Profit attributable to Shareholders of the Bank

2,335,055

3,166,845

6,926,066

8,964,859

Unappropriated profit brought forward

19,540,004

17,116,908

17,703,327

16,728,319

21,875,059

20,283,753

24,629,393

25,693,178

Transferred from surplus on revaluation of fixed assets - net of tax

64,174

80,420

190,788

241,260

Profit before appropriations

21,939,233

20,364,173

24,820,181

25,934,438

Appropriations

Transfer to statutory reserve

(415,938)

(647,573)

(1,273,448)

(1,766,275)

Final cash dividend for the year ended December 31, 2008 and December 31,2007 declared subsequent to the year end

-

-

(1,011,719)

(2,428,125)

Interim cash dividend for the half year ended June 30, 2008 declared subsequent to the period end

-

(1,517,578)

-

(1,517,578)

Transfer to reserve for issue of bonus shares

-

-

(1,011,719)

(2,023,438)

(415,938)

(2,165,151)

(3,296,886)

(7,735,416)

Unappropriated profit carried forward

21,523,295

18,199,022

21,523,295

18,199,022

Basic and diluted earnings per share

2.10

2.85

6.22

8.06