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26 Jul 2016 12:10
Secretary's Department
UBL/BOD-204/PSX/Results
26-July-2016
The General Manager Pakistan Stock Exchange Limited Stock Exchange Building, Stock Exchange Road, Karachi. |
Dear Sirs,
Financial Results for Second Quarter (Half Year) Ended 30 June 2016
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 204th meeting held on Tuesday, July 26, 2016 at 10:00 a.m. at Islamabad recommended the following:
(i) Cash Dividend
An Interim Cash Dividend for the quarter ended 30-June-2016 at Rs.3/- per share i.e.30%.
(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 Friday, September 2, 2016.
Page 1 of 2
The Share Transfer Books of UBL will be closed from September 5, 2016 to September 12, 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 Friday, September 2, 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
'A'
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) | |||||
FOR THE SIX MONTHS ENDED JUNE 30, 2016 | |||||
June 30, 2016 | June 30, 2015 | ||||
------------ (Rupees in '000) --------------- | |||||
Mark-up / return / interest earned | 49,524,794 | 46,417,427 | |||
Mark-up / return / interest expensed | (20,194,452) | (19,130,810) | |||
Net mark-up / return / interest income | 29,330,342 | 27,286,617 | |||
Provision against loans and advances - net | (728,328) | (1,928,556) | |||
Provision for diminution in value of investments - net | (657,585) | (6,220) | |||
Bad debts written off directly | (45,370) | (68,062) | |||
(1,431,283) | (2,002,838) | ||||
Net mark-up / return / interest income after provisions | 27,899,059 | 25,283,779 | |||
Non mark-up / interest income | |||||
Fee, commission and brokerage income | 6,386,076 | 6,295,395 | |||
Dividend income | 1,515,826 | 2,023,367 | |||
Income from dealing in foreign currencies | 977,248 | 1,232,683 | |||
Gain on sale of securities - net | 4,513,514 | 2,498,858 | |||
Unrealized gain / (loss) on revaluation of investments classified as held for trading |
4,745 |
(265,256) | |||
Other income | 557,270 | 603,965 | |||
Total non mark-up / interest income | 13,954,679 | 12,389,012 | |||
41,853,738 | 37,672,791 | ||||
Non mark-up / interest expenses | |||||
Administrative expenses | (16,294,642) | (14,935,384) | |||
Other provisions - net | (251,393) | (86,183) | |||
Workers' Welfare Fund | (506,251) | (453,270) | |||
Other charges | (30,250) | (63,566) | |||
Total non mark-up / interest expenses | (17,082,536) | (15,538,403) | |||
Profit before taxation | 24,771,202 | 22,134,388 | |||
Taxation - Current | (8,799,580) | (8,069,575) | |||
- Prior | (1,813,578) | (1,622,583) | |||
- Deferred | 136,528 | 279,903 | |||
(10,476,630) | (9,412,255) | ||||
Profit after taxation | 14,294,572 | 12,722,133 | |||
----------- (Rupees) --------------------- | |||||
Earnings per share - basic and diluted | 11.68 | 10.39 | |||
'B'
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) | |||||||||
FOR THE SIX MONTHS ENDED JUNE 30, 2016 | |||||||||
June 30, 2016 | June 30, 2015 | ||||||||
--------- (Rupees in '000) --------- | |||||||||
Mark-up / return / interest earned | 51,361,419 | 47,930,237 | |||||||
Mark-up / return / interest expensed | (21,007,085) | (19,688,925) | |||||||
Net mark-up / return / interest income | 30,354,334 | 28,241,312 | |||||||
Provision against loans and advances - net | (782,527) | (1,959,905) | |||||||
Provision for diminution in value of investments - net | (692,682) | (40,591) | |||||||
Bad debts written off directly | (45,370) | (72,406) | |||||||
(1,520,579) | (2,072,902) | ||||||||
Net mark-up / return / interest income after provisions | 28,833,755 | 26,168,410 | |||||||
Non mark-up / interest income | |||||||||
Fee, commission and brokerage income | 7,402,536 | 7,351,574 | |||||||
Dividend income | 1,275,902 | 1,282,142 | |||||||
Income from dealing in foreign currencies | 1,097,433 | 1,382,339 | |||||||
Gain on sale of securities - net | 4,770,886 | 2,747,687 | |||||||
Unrealized gain / (loss) on revaluation of investments | |||||||||
classified as held for trading | 8,756 | (266,805) | |||||||
Other income | 546,415 | 855,528 | |||||||
Total non mark-up / interest income | 15,101,928 | 13,352,465 | |||||||
43,935,683 | 39,520,875 | ||||||||
Non mark-up / interest expenses | |||||||||
Administrative expenses | (17,862,355) | (16,399,060) | |||||||
Other provisions - net | (264,353) | (86,183) | |||||||
Workers' Welfare Fund | (509,151) | (456,864) | |||||||
Other charges | (30,250) | (63,566) | |||||||
Total non mark-up / interest expenses | (18,666,109) | (17,005,673) | |||||||
25,269,574 | 22,515,202 | ||||||||
Share of income of associates | 212,592 | 460,139 | |||||||
Profit before taxation | 25,482,166 | 22,975,341 | |||||||
Taxation - Current | (9,007,570) | (8,212,621) | |||||||
- Prior | (1,972,836) | (1,623,490) | |||||||
- Deferred | 98,879 | 279,903 | |||||||
(10,881,527) | (9,556,208) | ||||||||
Profit after taxation | 14,600,639 | 13,419,133 | |||||||
Attributable to: | |||||||||
Equity shareholders of the Bank | 14,464,019 | 13,012,674 | |||||||
Non-controlling interest | 136,620 | 406,459 | |||||||
14,600,639 | 13,419,133 | ||||||||
-------------- (Rupees) -------------- | |||||||||
Earnings per share - basic and diluted | 11.82 | 10.63 | |||||||
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