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27 Oct 2015 10:29
Secretary's Department
UBL/BOD-199/SEs/Results
October 27, 2015
FORM- 7
1. The General Manager Companies Affairs, Karachi Stock Exchange Ltd. Karachi Stock Exchange Bldg., Stock Exchange Road, Karachi.
| 2. The General Manager Companies Affairs, Lahore Stock Exchange Ltd. 19, Khayaban-e-Aiwan-e-Iqbal, Lahore.
| 3. The General Manager Companies Affairs, Islamabad Stock Exchange Ltd. 55-B, Jinnah Avenue, Blue Area, Islamabad.
|
Dear Sirs,
Financial Results for Third Quarter Ended 30 September 2015
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 199th meeting held on Tuesday, October 27, 2015 at 10:00 a.m. at Islamabad declared the following:
(i) Cash Dividend
3rd Interim Cash Dividend for the year 2015 at Rs.3/- per share i.e.30%. This is in addition to Interim Dividends already paid at Rs.6/- per share i.e. 60%.
(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 the Company 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 on Thursday, December 3, 2015.
Page 1 of 2
The Share Transfer Books of the Company will be closed from December 04, 2015 to December 11, 2015 (both days inclusive). Transfers received at the office of the Company's Share Registrar, M/s. THK Associates (Pvt.) Limited, 2nd Floor, State Life Building No.3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on Thursday, December 3, 2015 will be treated in time for the purpose of above entitlement to the transferees.
We will be sending you respective number of copies of printed Accounts for distribution amongst the members of the exchange.
Yours faithfully,
S/d-
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) The Commissioner, Enforcement & Monitoring Division, Securities and Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Islamabad;
Page 2 of 2
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) | "A" | |||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 | ||||||||
July - September 2015 | July -September 2014 | January - September 2015 | January - September 2014 | |||||
---------------------------------------- (Rupees in '000) ---------------------------------------- | ||||||||
Mark-up / return / interest earned | 23,719,599 | 20,100,260 | 70,137,026 | 60,394,918 | ||||
Mark-up / return / interest expensed | (9,865,611) | (9,123,230) | (28,996,421) | (28,256,287) | ||||
Net mark-up / return / interest income | 13,853,988 | 10,977,030 | 41,140,605 | 32,138,631 | ||||
(Provision) / reversal against loans and advances - net | (617,838) | 489,475 | (2,547,555) | (179,794) | ||||
Provision against lendings to financial institutions - net | - | (155,598) | - | (165,303) | ||||
Provision for diminution in value of investments - net | (32,167) | (73,340) | (38,387) | (314,617) | ||||
Bad debts written off directly | (25,978) | (113,146) | (94,040) | (189,546) | ||||
(675,983) | 147,391 | (2,679,982) | (849,260) | |||||
Net mark-up / return / interest income after provisions | 13,178,005 | 11,124,421 | 38,460,623 | 31,289,371 | ||||
Non mark-up / interest income | ||||||||
Fee, commission and brokerage income | 2,874,685 | 2,942,392 | 9,170,080 | 8,611,329 | ||||
Dividend income | 387,144 | 355,289 | 2,410,511 | 1,394,512 | ||||
Income from dealing in foreign currencies | 523,434 | 872,311 | 1,756,117 | 2,298,023 | ||||
Gain on sale of securities - net | 531,112 | 95,914 | 3,029,970 | 1,507,214 | ||||
Unrealized gain / (loss) on revaluation of investments classified as held for trading | 206,733 | (4,531) | (58,523) | (61,151) | ||||
Other income | 231,508 | 227,766 | 835,473 | 779,668 | ||||
Total non mark-up / interest income | 4,754,616 | 4,489,141 | 17,143,628 | 14,529,595 | ||||
17,932,621 | 15,613,562 | 55,604,251 | 45,818,966 | |||||
Non mark-up / interest expenses | ||||||||
Administrative expenses | (7,382,857) | (7,117,663) | (22,318,241) | (21,023,006) | ||||
Other provisions - net | (49,143) | (25,465) | (134,165) | (140,242) | ||||
Workers' Welfare Fund | (212,626) | (173,935) | (665,896) | (503,380) | ||||
Other charges | (136,744) | (497) | (200,310) | (8,324) | ||||
Total non mark-up / interest expenses | (7,781,370) | (7,317,560) | (23,318,612) | (21,674,952) | ||||
Profit before taxation | 10,151,251 | 8,296,002 | 32,285,639 | 24,144,014 | ||||
Taxation - Current | (3,742,959) | (2,996,719) | (11,812,534) | (8,644,957) | ||||
- Prior | (362,854) | (512,731) | (1,985,437) | (513,046) | ||||
- Deferred | 503,333 | 533,507 | 783,236 | 866,358 | ||||
(3,602,480) | (2,975,943) | (13,014,735) | (8,291,645) | |||||
Profit after taxation | 6,548,771 | 5,320,059 | 19,270,904 | 15,852,369 | ||||
-------------------------------------------- (Rupees) -------------------------------------------- | ||||||||
Earnings per share - basic and diluted | 5.35 | 4.35 | 15.74 | 12.95 | ||||
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) | "B" | |||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 | ||||||||
July-September 2015 | July-September 2014 | January - September 2015 | January - September 2014 | |||||
------------------------------------------------- (Rupees in '000) ------------------------------------------------- | ||||||||
Mark-up / return / interest earned | 24,572,355 | 20,901,554 | 72,502,592 | 62,642,194 | ||||
Mark-up / return / interest expensed | (10,203,819) | (9,386,607) | (29,892,744) | (29,073,131) | ||||
Net mark-up / return / interest income | 14,368,536 | 11,514,947 | 42,609,848 | 33,569,063 | ||||
(Provision) / reversal against loans and advances - net | (471,336) | 489,724 | (2,432,402) | (417,958) | ||||
Provision against lendings to financial institutions - net | - | (155,598) | - | (165,303) | ||||
Provision for diminution in value of investments - net | (33,791) | (173,410) | (74,382) | (414,687) | ||||
Bad debts written off directly | (33,446) | (113,146) | (105,852) | (189,546) | ||||
(538,573) | 47,570 | (2,612,636) | (1,187,494) | |||||
Net mark-up / return / interest income after provisions | 13,829,963 | 11,562,517 | 39,997,212 | 32,381,569 | ||||
Non mark-up / interest income | ||||||||
Fee, commission and brokerage income | 3,394,251 | 3,399,801 | 10,745,825 | 9,963,245 | ||||
Dividend income | 387,144 | 355,261 | 1,669,280 | 1,220,636 | ||||
Income from dealing in foreign currencies | 585,216 | 888,671 | 1,967,555 | 2,350,139 | ||||
Gain on sale of securities - net | 397,302 | 120,676 | 3,144,989 | 1,657,159 | ||||
Unrealized gain / (loss) on revaluation of investments classified as held for trading | 215,810 | (2,367) | (50,995) | (48,903) | ||||
Other income | 244,891 | 242,312 | 1,100,425 | 836,475 | ||||
Total non mark-up / interest income | 5,224,614 | 5,004,354 | 18,577,079 | 15,978,751 | ||||
19,054,577 | 16,566,871 | 58,574,291 | 48,360,320 | |||||
Non mark-up / interest expenses | ||||||||
Administrative expenses | (8,142,469) | (7,817,838) | (24,541,529) | (23,076,863) | ||||
Other provisions - net | (49,143) | 23,609 | (134,165) | (142,319) | ||||
Workers' Welfare Fund | (213,778) | (175,021) | (670,642) | (506,724) | ||||
Other charges | (136,744) | (497) | (200,310) | (8,324) | ||||
Total non mark-up / interest expenses | (8,542,134) | (7,969,747) | (25,546,646) | (23,734,230) | ||||
10,512,443 | 8,597,124 | 33,027,645 | 24,626,090 | |||||
Share of income of associates | 144,654 | 247,586 | 604,793 | 914,981 | ||||
Profit before taxation | 10,657,097 | 8,844,710 | 33,632,438 | 25,541,071 | ||||
Taxation - Current | (3,773,138) | (3,011,232) | (11,985,759) | (8,715,479) | ||||
- Prior | (362,590) | (512,731) | (1,986,080) | (513,075) | ||||
- Deferred | 503,333 | 533,154 | 783,236 | 865,773 | ||||
(3,632,395) | (2,990,809) | (13,188,603) | (8,362,781) | |||||
Profit after taxation | 7,024,702 | 5,853,901 | 20,443,835 | 17,178,290 | ||||
Attributable to: | ||||||||
Equity shareholders of the Bank | 6,829,388 | 5,759,995 | 19,842,062 | 17,064,669 | ||||
Non-controlling interest | 195,314 | 93,906 | 601,773 | 113,621 | ||||
7,024,702 | 5,853,901 | 20,443,835 | 17,178,290 | |||||
---------------------------------------- (Rupees) ---------------------------------------- | ||||||||
Earnings per share - basic and diluted | 5.58 | 4.71 | 16.21 | 13.94 | ||||
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