Last checked at 18 Jul 2012 12:58
Secretary's Department
UBL/BOD/KSE/Results
18 July 2012
FORM- 7
Fax No. 111-573-329
The Managing Director
The Karachi Stock Exchange (Guarantee) Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Dear Sir,
FINANCIAL RESULTS FOR THE HALF YEAR ENDED 30-06-2012
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 179th meeting held on 18 July 2012 at 11:00 a.m. (Local Time) at Paris, France declared the following:
(i) CASH DIVIDEND
2nd Interim Cash Dividend for the year 2012 at Rs.2.00 per share i.e 20%.
(ii) BONUS SHARES
------NIL------
(iii) RIGHT SHARES
------NIL---------
(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION
------NIL-------
(v) ANY OTHER PRICE-SENSITIVE INFORMATION
----NIL-------
The Share Transfer Books of the Company will be closed from 09-08-2012 to 16-08-2012 (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 08-08-2012 will be treated in time for the purpose of above entitlement to the transferees.
The financial results of the Company are appended at Annexure "A" for Standalone & Annexure "B" Consolidated Accounts of the said period.
We will be sending you 300 copies of printed Accounts for distribution amongst the members 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) State Bank of Pakistan
| |||||||||||||||||
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) | |||||||||||||||||
FOR THE HALF YEAR ENDED JUNE 30, 2012 | Annexure A | ||||||||||||||||
April-June 2012 | April-June 2011 | January-June 2012 | January-June 2011 | ||||||||||||||
-----------------(Rupees in '000)----------------- | |||||||||||||||||
Mark-up / return / interest earned | 18,562,456 | 17,368,083 | 36,258,281 | 34,077,496 | |||||||||||||
Mark-up / return / interest expensed | (8,949,649) | (7,194,000) | (17,045,043) | (14,746,784) | |||||||||||||
Net mark-up / interest income | 9,612,807 | 10,174,083 | 19,213,238 | 19,330,712 | |||||||||||||
Provision against loans and advances - net | (353,047) | (2,206,650) | (959,604) | (4,411,931) | |||||||||||||
Provision against lendings to financial institutions | (89,874) | (91,354) | (171,024) | (91,354) | |||||||||||||
Reversal / (provision) for diminution in value of | |||||||||||||||||
investments - net | 19,567 | (203,883) | 20,898 | (205,515) | |||||||||||||
Bad debts written off directly | (113,757) | (100,291) | (193,035) | (233,116) | |||||||||||||
(537,111) | (2,602,178) | (1,302,765) | (4,941,916) | ||||||||||||||
Net mark-up / interest income after provisions | 9,075,696 | 7,571,905 | 17,910,473 | 14,388,796 | |||||||||||||
Non mark-up / interest income | |||||||||||||||||
Fee, commission and brokerage income | 2,098,145 | 1,680,691 | 3,964,629 | 3,279,993 | |||||||||||||
Dividend income | 632,573 | 220,816 | 1,442,774 | 321,993 | |||||||||||||
Income from dealing in foreign currencies | 476,181 | 326,246 | 1,044,439 | 1,075,569 | |||||||||||||
Gain on sale of securities - net | 45,327 | 7,916 | 462,286 | 195,906 | |||||||||||||
Unrealized loss on revaluation of investments | |||||||||||||||||
classified as held for trading | (5,723) | (43,402) | (7,731) | (51,369) | |||||||||||||
Other income | 339,303 | 679,954 | 773,544 | 1,076,498 | |||||||||||||
Total non mark-up / interest income | 3,585,806 | 2,872,221 | 7,679,941 | 5,898,590 | |||||||||||||
12,661,502 | 10,444,126 | 25,590,414 | 20,287,386 | ||||||||||||||
Non mark-up / interest expenses | |||||||||||||||||
Administrative expenses | (5,759,591) | (5,034,043) | (11,285,616) | (9,742,078) | |||||||||||||
Other (provisions) / reversals - net | (168,966) | 7,503 | (167,948) | 13,704 | |||||||||||||
Workers' Welfare Fund | (129,085) | (116,036) | (276,417) | (218,709) | |||||||||||||
Other charges | (25,998) | (84,245) | (52,391) | (110,961) | |||||||||||||
Total non mark-up / interest expenses | (6,083,640) | (5,226,821) | (11,782,372) | (10,058,044) | |||||||||||||
Profit before taxation | 6,577,862 | 5,217,305 | 13,808,042 | 10,229,342 | |||||||||||||
Taxation | |||||||||||||||||
- Current | (2,136,897) | (2,007,630) | (4,568,966) | (3,815,047) | |||||||||||||
- Prior | - | (9) | - | 7,529 | |||||||||||||
- Deferred | 11,596 | 222,243 | 78,743 | 282,717 | |||||||||||||
(2,125,301) | (1,785,396) | (4,490,223) | (3,524,801) | ||||||||||||||
Profit after taxation | 4,452,561 | 3,431,909 | 9,317,819 | 6,704,541 | |||||||||||||
---------------------( Rupees )------------------- | |||||||||||||||||
Earnings per share - basic and diluted | 3.64 | 2.80 | 7.61 | 5.48 | |||||||||||||
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN- AUDITED) FOR THE HALF YEAR ENDED JUNE 30, 2012
Annexure B
April-June 2012 | April-June 2011 | January-June 2012 | January-June 2011 | ||||||
-------------- (Rupees in '000) -------------------- | |||||||||
Mark-up / return / interest earned |
| 18,943,637 | 17,584,984 | 36,955,757 | 34,507,010 | ||||
Mark-up / return / interest expensed |
| (9,084,163) | (7,249,108) | (17,293,305) | (14,849,425) | ||||
Net mark-up / interest income | 9,859,474 | 10,335,876 | 19,662,452 | 19,657,585 | |||||
Provision against loans and advances - net | (353,047) | (2,206,650) | (959,604) | (4,411,931) | |||||
Provision against lendings to financial institutions | (89,874) | (91,354) | (171,024) | (91,354) | |||||
Reversal / (provision) for diminution in value of investments - net |
19,567 |
(203,883) |
20,898 |
(207,545) | |||||
Bad debts written off directly | (115,182) | (100,291) | (194,460) | (233,116) | |||||
(538,536) | (2,602,178) | (1,304,190) | (4,943,946) | ||||||
Net mark-up / interest income after provisions | 9,320,938 | 7,733,698 | 18,358,262 | 14,713,639 | |||||
Non mark-up / interest income | |||||||||
Fee, commission and brokerage income | 2,412,146 | 1,892,281 | 4,572,215 | 3,657,488 | |||||
Dividend income | 123,643 | 25,545 | 296,632 | 96,988 | |||||
Income from dealing in foreign currencies | 490,536 | 340,457 | 1,072,859 | 1,108,635 | |||||
Gain on sale of securities - net | 74,543 | 15,544 | 501,018 | 206,076 | |||||
Unrealized loss on revaluation of | |||||||||
investments classified as held for trading | (6,565) | (39,067) | (10,904) | (46,119) | |||||
Other income | 372,975 | 698,190 | 829,533 | 1,107,023 | |||||
Total non mark-up / interest income | 3,467,278 | 2,932,950 | 7,261,353 | 6,130,091 | |||||
12,788,216 | 10,666,648 | 25,619,615 | 20,843,730 | ||||||
Non mark-up / interest expenses | |||||||||
Administrative expenses |
| (6,248,812) | (5,446,540) | (12,241,815) | (10,512,047) | ||||
Other (provisions) / reversals - net | (168,966) | 7,503 | (167,948) | 13,704 | |||||
Workers' welfare fund | (130,060) | (116,486) | (278,422) | (219,604) | |||||
Other charges | (25,998) | (84,245) | (52,391) | (110,961) | |||||
Total non mark-up / interest expenses | (6,573,836) | (5,639,768) | (12,740,576) | (10,828,908) | |||||
6,214,380 | 5,026,880 | 12,879,039 | 10,014,822 | ||||||
Share of income / (loss) of associates | 481,621 | (227,799) | 1,060,310 | (74,560) | |||||
Profit before taxation | 6,696,001 | 4,799,081 | 13,939,349 | 9,940,262 | |||||
Taxation |
| ||||||||
- Current | (2,162,571) | (2,007,821) | (4,607,791) | (3,819,695) | |||||
- Prior | - | (9) | - | 7,529 | |||||
- Deferred | 11,349 | 222,907 | 76,904 | 281,652 | |||||
(2,151,222) | (1,784,923) | (4,530,887) | (3,530,514) | ||||||
Profit after taxation | 4,544,779 | 3,014,158 | 9,408,462 | 6,409,748 | |||||
Attributable to: | |||||||||
Equity shareholders of the Bank | 4,527,858 | 3,019,823 | 9,385,163 | 6,420,726 | |||||
Non-controlling interest | 16,921 | (5,665) | 23,299 | (10,978) | |||||
4,544,779 | 3,014,158 | 9,408,462 | 6,409,748 | ||||||
-------------- (Rupees) -------------- | |||||||||
Earnings per share - basic and diluted | 3.70 | 2.47 | 7.67 | 5.24 | |||||