Last checked at 25 Feb 2013 07:00
Secretary's Department
UBL/BOD/KSE/Results-2012
25 February 2013
FORM- 3
The General Manager Fax No. 111-573-329
The Karachi Stock Exchange (G) Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Dear Sir,
FINANCIAL RESULTS FOR THE YEAR ENDED 31-12-2012
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 182nd meeting held on 24 February 2013 at Abu Dhabi, UAE at 11:00 a.m. (UAE Time) declared the following:
(i) CASH DIVIDEND
Final Cash Dividend for the year ended 31-12-2012 at Rs.3.50 per share i.e.35%. (in addition to interim dividend of 50% already paid for the year 2012).
(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 appended at Annexure "A" for Unconsolidated & Annexure "B" Consolidated Accounts of the said period.
1/2
The 54th Annual General Meeting of the Company will be held on 29 March 2013 at 9:30 a.m. at Islamabad Serena Hotel, Islamabad.
The Share Transfer Books of the Company will be closed from 20-03-2013 to 29-03-2013 (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 19-03-2013 will be treated in time for the purpose of above entitlement to the transferees.
We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange 21 days before the date of AGM.
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
2/2
Annexure 'A' | |||
UNCONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2012 | |||
2012 | 2011 | ||
------- (Rupees in '000) ------- | |||
Mark-up / return / interest earned | 73,507,415 | 70,450,897 | |
Mark-up / return / interest expensed | 34,947,698 | 31,025,869 | |
Net mark-up / interest income | 38,559,717 | 39,425,028 | |
Provision against loans and advances - net | 3,245,268 | 6,194,973 | |
Provision against lendings to financial institutions - net | 168,492 | 345,858 | |
Provision for diminution in value of investments - net | 438,149 | 410,085 | |
Bad debts written off directly | 284,991 | 340,416 | |
4,136,900 | 7,291,332 | ||
Net mark-up / return / interest income after provisions | 34,422,817 | 32,133,696 | |
Non mark-up / interest Income | |||
Fee, commission and brokerage income | 8,162,535 | 6,949,191 | |
Dividend income | 2,664,242 | 786,496 | |
Income from dealing in foreign currencies | 1,862,585 | 2,078,260 | |
Gain on sale of securities - net | 464,386 | 518,710 | |
Unrealized gain / (loss) on revaluation of investments classified as | |||
held for trading | 2,236 | (43,750) | |
Other income | 3,975,234 | 2,429,346 | |
Total non mark-up / interest income | 17,131,218 | 12,718,253 | |
51,554,035 | 44,851,949 | ||
Non mark-up / interest Expenses | |||
Administrative expenses | 23,528,112 | 19,784,894 | |
Other provisions - net | 361,928 | 226,204 | |
Workers' Welfare Fund | 531,106 | 513,121 | |
Other charges | 103,962 | 104,939 | |
Total non mark-up / interest expenses | 24,525,108 | 20,629,158 | |
Profit before taxation | 27,028,927 | 24,222,791 | |
Taxation - Current | 8,947,398 | 8,946,039 | |
- Prior years | 497,000 | 679,290 | |
- Deferred | (422,199) | (902,201) | |
9,022,199 | 8,723,128 | ||
Profit after taxation | 18,006,728 | 15,499,663 | |
----------- (Rupees) ----------- | |||
Earnings per share - basic and diluted | 14.71 | 12.66 | |
Annexure 'B'
| CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2012
|
| ||||||||||||
| 2012 | 2011 |
| |||||||||||
| ------- (Rupees in '000) ------- |
| ||||||||||||
| Mark-up / return / interest earned | 75,379,861 | 71,376,843 | |||||||||||
| Mark-up / return / interest expensed | 35,736,985 | 31,305,056 | |||||||||||
| Net mark-up / interest income | 39,642,876 | 40,071,787 | |||||||||||
| ||||||||||||||
| Provision against loans and advances - net | 3,321,224 | 6,176,475 | |||||||||||
| Provision against lendings to financial institutions - net | 168,492 | 345,858 | |||||||||||
| Provision for diminution in value of investments - net Bad debts written off directly | 438,149 319,102 | 412,115 340,416 | |||||||||||
| 4,246,967 | 7,274,864 | ||||||||||||
| Net mark-up / return / interest income after provisions | 35,395,909 | 32,796,923 | |||||||||||
|
Non mark-up / interest income | |||||||||||||
| Fee, commission and brokerage income | 9,449,629 | 7,778,081 | |||||||||||
| Dividend income | 539,640 | 296,949 | |||||||||||
| Income from dealing in foreign currencies | 1,925,838 | 2,156,038 | |||||||||||
| Gain on sale of securities - net | 1,259,476 | 478,168 | |||||||||||
| Unrealized loss on revaluation of investments classified as | |||||||||||||
| held for trading | (541) | (32,241) | |||||||||||
| Other income | 4,020,789 | 2,452,788 | |||||||||||
| Total non mark-up / interest income | 17,194,831 | 13,129,783 | |||||||||||
| 52,590,740 | 45,926,706 | ||||||||||||
| Non mark-up / interest expenses | |||||||||||||
| Administrative expenses | 25,448,913 | 21,253,504 | |||||||||||
| Other provisions - net | 489,322 | 194,881 | |||||||||||
| Workers' welfare fund | 535,756 | 514,621 | |||||||||||
| Other charges | 103,962 | 104,939 | |||||||||||
| Total non mark-up / interest expenses | 26,577,953 | 22,067,945 | |||||||||||
| Share of profit / (loss) of associates | 2,397,659 | (225,125) | |||||||||||
| Profit before taxation | 28,410,446 | 23,633,636 | |||||||||||
| ||||||||||||||
| Taxation - Current | 9,061,871 | 8,967,802 | |||||||||||
| - Prior years | 489,932 | 681,560 | |||||||||||
| - Deferred | (421,141) | (902,839) | |||||||||||
| 9,130,662 | 8,746,523 | ||||||||||||
| Profit after taxation | 19,279,784 | 14,887,113 | |||||||||||
|
| |||||||||||||
| Attributable to:
|
|
| |||||||||||
Equity shareholders of the Bank Non-controlling interest | 19,227,848 51,936 | 14,854,785 32,328 |
| |||||||||||
19,279,784 | 14,887,113 |
| ||||||||||||
----------- (Rupees) ----------- |
| |||||||
Earnings per share - basic and diluted |
|
15.71 |
12.13 | |||||