Last checked at 19 Oct 2016 08:55
Secretary's Department
UBL/BOD-205/PSX/Results
19-October-2016
Form-7
The General Manager Pakistan Stock Exchange Limited Stock Exchange Building, Stock Exchange Road, Karachi. |
Dear Sir,
Financial Results for Third Quarter Ended 30 September 2016
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 205th meeting held on Wednesday, October 19, 2016 at 10:00 a.m. at Islamabad recommended the following:
(i) Cash Dividend
3rd Interim Cash Dividend for the year 2016 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 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 on Thursday, November 10, 2016.
Page 1 of 2
The Share Transfer Books of UBL will be closed from 11-November-2016 to 17-November-2016 (both days inclusive). Transfers received at the office of our 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, November 10, 2016 will be treated in time for the purpose of above entitlement to the transferees.
We will be sending you 200 copies of printed Accounts for distribution amongst the TRE Certificate Holders 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) The Commissioner, Enforcement & Monitoring Division, Securities and Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Islamabad;
Page 2 of 2
Annexure-A |
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| UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) |
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| FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 |
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| January - September 2016 | January - September 2015 |
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| ----------- (Rupees in '000) ---------- | |||||||||||
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| Mark-up / return / interest earned | 73,354,716 | 70,137,026 |
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| Mark-up / return / interest expensed | (30,356,292) | (28,996,421) |
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| Net mark-up / return / interest income | 42,998,424 | 41,140,605 |
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| Reversal / (provision) against loans and advances - net | (147,553) | (2,546,638) |
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| Provision for diminution in value of investments - net | (923,587) | (38,387) |
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| Bad debts written off directly | (58,098) | (94,040) |
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| (1,129,238) | (2,679,065) |
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| Net mark-up / return / interest income after provisions | 41,869,186 | 38,461,540 |
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| Non mark-up / interest income |
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| Fee, commission and brokerage income | 9,144,768 | 9,170,080 |
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| Dividend income | 2,026,549 | 2,410,511 |
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| Income from dealing in foreign currencies | 1,394,056 | 1,756,117 |
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| Gain on sale of securities - net | 5,161,556 | 3,029,970 |
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| Unrealized (loss) / gain on revaluation of investments |
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| classified as held for trading | (5,491) | (58,523) |
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| Other income | 695,927 | 835,473 |
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| Total non mark-up / interest income | 18,417,365 | 17,143,628 |
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| 60,286,551 | 55,605,168 |
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| Non mark-up / interest expenses |
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| Administrative expenses | (23,665,798) | (22,318,241) |
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| Other provisions - net | (274,599) | (135,082) |
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| Workers' Welfare Fund | (709,483) | (665,896) |
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| Other charges | (56,253) | (200,310) |
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| Total non mark-up / interest expenses | (24,706,133) | (23,319,529) |
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| Profit before taxation | 35,580,418 | 32,285,639 |
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| Taxation - Current | (12,722,456) | (11,812,534) |
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| - Prior | (1,813,191) | (1,985,437) |
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| - Deferred | 259,746 | 783,236 |
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| (14,275,901) | (13,014,735) |
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| Profit after taxation | 21,304,517 | 19,270,904 |
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| -------------- (Rupees) ------------ | |||||||||||
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| Earnings per share - basic and diluted | 17.40 | 15.74 |
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Annexure-B | |||||||||
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) | |||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 | |||||||||
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January - September 2016 | January - September 2015 | ||||||||
---------- (Rupees in '000) ------------- | |||||||||
Mark-up / return / interest earned | 75,904,854 | 72,502,592 | |||||||
Mark-up / return / interest expensed | (31,496,516) | (29,892,744) | |||||||
Net mark-up / return / interest income | 44,408,338 | 42,609,848 | |||||||
Reversal / (provision) against loans and advances - net | (226,390) | (2,431,485) | |||||||
Provision for diminution in value of investments - net | (957,890) | (74,382) | |||||||
Bad debts written off directly | (58,098) | (105,852) | |||||||
(1,242,378) | (2,611,719) | ||||||||
Net mark-up / return / interest income after provisions | 43,165,960 | 39,998,129 | |||||||
Non mark-up / interest income | |||||||||
Fee, commission and brokerage income | 10,661,213 | 10,745,825 | |||||||
Dividend income | 1,489,897 | 1,669,280 | |||||||
Income from dealing in foreign currencies | 1,562,135 | 1,967,555 | |||||||
Gain on sale of securities - net | 5,279,297 | 3,144,989 | |||||||
Unrealized (loss) / gain on revaluation of investments | |||||||||
classified as held for trading | (2,903) | (50,995) | |||||||
Other income | 696,156 | 1,100,425 | |||||||
Total non mark-up / interest income | 19,685,795 | 18,577,079 | |||||||
62,851,755 | 58,575,208 | ||||||||
Non mark-up / interest expenses | |||||||||
Administrative expenses | (26,020,787) | (24,541,529) | |||||||
Other provisions - net | (287,200) | (135,082) | |||||||
Workers' Welfare Fund | (714,277) | (670,642) | |||||||
Other charges | (56,253) | (200,310) | |||||||
Total non mark-up / interest expenses | (27,078,517) | (25,547,563) | |||||||
35,773,238 | 33,027,645 | ||||||||
Share of income of associates | 685,359 | 604,793 | |||||||
Profit before taxation | 36,458,597 | 33,632,438 | |||||||
Taxation - Current | (13,032,797) | (11,985,759) | |||||||
- Prior | (1,968,203) | (1,986,080) | |||||||
- Deferred | 293,561 | 783,236 | |||||||
(14,707,439) | (13,188,603) | ||||||||
Profit after taxation | 21,751,158 | 20,443,835 | |||||||
Attributable to: | |||||||||
Equity shareholders of the Bank | 21,529,731 | 19,842,062 | |||||||
Non-controlling interest | 221,427 | 601,773 | |||||||
21,751,158 | 20,443,835 | ||||||||
-------------- (Rupees) ------------- | |||||||||
Earnings per share - basic and diluted | 17.59 | 16.21 | |||||||