Skip to Content

Thursday, September 24th, 2020

United Bank Limited’s financial results for the Half Year Ended 30-06-2011

Be First!

Karachi: We have to inform you that the Board of Directors of United Bank Limited (“UBL”) in their 173rd meeting held on 28 July 2011 at 10:00 a.m. (London Time) at London declared the following:

(1) Cash Dividend

Interim Cash Dividend for the year 2011 at Rs. 1.50 per share i.e. 15%.

(2) Bonus Shares

Nil

(3) Right Shares

Nil

(4) Any Other Entitlement / Corporate Action

Nil

(5) Any Other Price-Sensitive Information

Nil

The Share Transfer Books of the Company will be closed from 22-08-2011 to 30-08-2011 (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 20-08-2011 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 and Annexure “B” Consolidated Accounts of the said period.

Unconsolidated Condensed Interim Profit and Loss Account (Un-Audited) for the Half Year Ended June 30, 2011

Apr-Jun

Apr-Jun

Jan-Jun

Jan-Jun

2011

2010

2011

2010

(Rupees in ’000′)

Mark-up /return /interest earned 17,349,835 14,285,230 34,058,409 28,480,265
Mark-up /return /interest expensed (7,194,384) (5,921,469) (14,746,784) (11,876,684)
———– ———– ———— ————
Net mark-up /return /interest income 10,155,451 8,363,761 19,311,625 16,603,581
Provision against loans and advances – net (2,188,065) (1,658,279) (4,392,844) (3,393,401)
Provision against landings to financial institutions (91,354) (91,354)
Provision for diminution in value of investments – net (203,883) (70,202) (205,515) (64,469)
Bad debts written off directly (100,291) (249,200) (233,116) (635,909)
(2,583,593) (1,977,681) (4,922,829) (4,093,779)
 ———– ———– ———— ————
Net mark-up /return /interest income after provisions 7,571,858 6,386,080 14,388,796 12,509,802
Non mark-up / return / interest income Fee, commission and brokerage income 1,680,691 1,634,739 3,279,993 3,107,754
Dividend income 220,816 140,002 321,993 277,627
Income from dealing in foreign currencies 326,246 330,672 1,075,569 692,034
Gain on sale of securities 7,916 54,258 195,906 140,331
Unrealised loss on revaluation of investments classified as held for trading (43,402) (14,487) (51,369) (22,388)
Other income 680,000 221,850 1,076,498 532,960
———– ———– ———— ————
Total non mark-up /return /interest income 2,872,267 2,367,034 5,898,590 4,728,318
10,444,125 8,753,114 20,287,386 17,238,120
Non mark-up /interest expenses
Administrative expenses (5,034,042) (4,392,500) (9,742,078) (8,515,740)
Other provisions /write offs / reversals – net 7,503 124,884 13,704 116,557
Workers’ welfare fund (116,036) (89,459) (218,709) (178,367)
Other charges (84,245) (90,943) (110,961) (95,061)
———– ———– ———— ————
Total non mark-up /interest expenses (5,226,820) (4,448,018) (10,058,044) (8,672,611)
Profit before taxation 5,217,305 4,305,096 10,229,342 8,565,509
Taxation
-Current (2,007,630) (1,556,754) (3,815,047) (3,098,464)
-Prior (9) (394,488) 7,529 (394,750)
-Deferred 222,243 63,337 282,717 128,417
(1,785,396) (1,887,905) (3,524,801) (3,364,797)
———– ———– ———— ————
Profit after taxation 3,431,909 2,417,191 6,704,541 5,200,712
———– ———– ———— ————
(Rupees)
Basic and diluted earnings per share 2.80 1.97 5.48 4.25

 

Consolidated Condensed Interim Profit and Loss Account (Un-audited) for the half year ended June 30, 2011

 

Apr-Jun 2011 Apr-Jun 2010 Jan-Jun 2011 Jan-Jun 2010

(Rupees in ‘000’)

Mark-up /return /Interest earned 17,566,736 14,450,730 34,487,923 28,817,605
Mark-up / return/Interest expensed (7,249,492) (5,960,403) (14,849,425) (11,948,367)
———– ———– ———— ————
Net mark-up / return / Interest Income 0,317,244 8,490,327 19,638,498 10,869,236
Provision against loans and advances -net (2,188,065) (1,890,557) (4,302,844) (3,425,679)
Provision against landings to financial institutions (91,354) (91,354)
Provision for diminution in value of Investments -net (203,883) (55,215) (207,545) (80,730)
Bad debts written off directly (100,201) (249,200) (233,116) (635,909)
———– ———– ———— ————
(2,583,593) (1,994,972) (4,924,859) (4,122,318)
———– ———– ———— ————
Net mark-up /return/interest income after provisions 7,733,651 6,495,355 14,713,630 12,746,920
Non Mark-up/ Return/Interest Income
Fee, commission and brokerage income 1,858,018 1,809,582 3,602,800 3,436,720
Dividend income 25,545 14,989 96,988 41,865
Income from dealing in foreign currencies 340,457 344,029 1,108,635 714,627
Gain on sale of securities 15,544 54,792 206,076 142,156
Unrealized loss on revaluation of investments classified as held for trading (39,067) (15,398) (46,119) (23,101)
Other Income 730,008 247,344 1,155,518 592,576
———– ———– ———— ————
Total non mark-up / return / interest income 2,930,505 2,455,338 6,123,698 4,904,863
———– ———– ———— ————
10,864,156 8,950,693 20,837,337 17,651,783
Non Mark-up/Interest Expenses
Administrative expenses (5,444,048) (4,734,084) (10,506,654) (9,167,916)
Other provisions / write offs / reversals – net 7,503 124,884 13,704 116,557
Workers’ welfare fund (116,486) (90,296) (219,604) (180,032)
Other charges (84,245) (90,943) (110,961) (95,061)
———– ———– ———— ————
Total non mark-up/Interest expenses (5,637,276) (4,790,430) (10,822,515) (9,326,452)
———– ———– ———— ————
5,026,880 4,160,254 10,014,822 8,325,331
Share of (loss) /income of associates (227,799) 118,863 (74,580) 184,651
———– ———– ———— ————
Profit before taxation 4,799,081 4,279,117 9,940,262 8,509,982
Taxation- Currant (2,007,821) (1,565,061) (3,819,695) (3,117,034)
– Prior (9) (394,488) 7,529 (394,750)
– Deferred 222,907 63,337 281,652 127,631
———– ———– ———— ————
(1,784,923) (1,896,212) (3,530,514) (3,384,153)
Profit after taxation 3,014,158 2,382,905 6,409,748 6,125,829
Attributable to:
Equity shareholders of the Bank 3,019,823 2,413,707 6,420,726 5,l66,131
Non-controlling interest (5,665) (30,802) (10,978) (40,302)
———– ———– ———— ————
3,014,158 2,382,905 6,409,748 5,125,829
———– ———– ———— ————
(Rupees)
Basic and diluted earnings per share 2.47 1.97 5.24 4.22

For more information, contact:
Aqeel Ahmed Nasir
Company Secretary and
Chief Legal Counsel
United Bank Limited
State Life Building # 1,
I.I. Chundrigar Road,
Karachi-Pakistan.
UAN: +9221 111-825-888,
www.ubl.com.pk

Previous
Next

Leave a Reply