REG - United Bank Limited - 3rd Quarter Results - United Bank Limited
23/10/2024 12:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241023:nRSW3294Ja&default-theme=true
RNS Number : 3294J United Bank Limited 23 October 2024
Secretary's Department
UBL/BOD-251/PSX/Results/24
23 October 2024
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the Third Quarter Ended 30 September 2024
We have to inform you that the Board of Directors of United Bank Limited
("UBL") in their 251(st) meeting held on Wednesday, 23 October 2024 at
Islamabad at 10:00 a.m. inter-alia approved the following:
(i) Cash Dividend
An Interim Cash Dividend for the Third Quarter ended 30 September 2024 at
Rs.11/- per share i.e.110% this is addition to interim Dividend already paid
at Rs.22/- per share i.e. 220%
(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 (with their IBAN details) on Monday, 04 November
2024
The Share Transfer Books of UBL will remain closed from 05 November 2024 to 07
November 2024 (both days inclusive). Transfers received at the office of our
Share Registrar, M/s. THK Associates (Pvt.) Limited, Plot No. 32-C, Jami
Commercial Street-2 D.H.A. Phase-VII Karachi-75400 at the close of business on
Monday, 04 November 2024 will be treated in time for the purpose of above
entitlement to the transferees.
The accounts / report of the Bank for the Third Quarter ended 30 September
2024 will be transmitted through PUCARS separately, within stipulated time.
Yours faithfully,
Sd/-
Aqeel Ahmed Nasir
Company Secretary &
Chief Legal Counsel
C.C. to:
1) London Stock Exchange.
2) The Commissioner, Enforcement & Monitoring Division, Securities
and Exchange
Commission of Pakistan, NIC Building, Jinnah Avenue, Islamabad.
ANNEXURE - A
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024
July - September 2024 July - September 2023 January - September 2024 January - September 2023
----------------------------- (Rupees in '000)
----------------------------------
Mark-up / return / interest earned 310,741,852 147,350,437 825,895,798 337,213,439
Mark-up / return / interest expensed 259,148,402 109,574,476 720,664,403 230,576,398
Net mark-up / interest income 51,593,450 37,775,961 105,231,395 106,637,041
Non mark-up / interest income
Fee and commission income 5,844,125 4,290,282 15,893,508 13,061,887
Dividend income 266,556 219,638 1,189,692 1,211,050
Foreign exchange income 3,294,805 2,228,965 9,662,474 9,136,511
(Loss) / income from derivatives (16,176) 168,164 (41,021) 28,648
Gain / (loss) on securities - net 5,930,797 142,748 24,074,130 (1,360,303)
Capital gain on derecognition of financial assets measured at amortised cost - 2,894,427
- -
Other income 7,260,557 241,348 7,618,066 835,267
Total non mark-up / interest income 22,580,664 7,291,145 61,291,276 22,913,060
Total Income 74,174,114 45,067,106 166,522,671 129,550,101
Non mark-up / Interest expenses
Operating expenses 22,201,169 17,057,279 57,961,029 46,962,707
Workers' Welfare Fund 982,752 515,376 2,215,724 1,550,062
Other charges 155 28,138 32,966 32,203
Total non mark-up / interest expenses 23,184,076 17,600,793 60,209,719 48,544,972
Profit before credit loss allowance 50,990,038 27,466,313 106,312,952 81,005,129
893,529 (1,473,236)
Credit loss allowance / provisions / (reversals) and write-offs -
net
(1,006,165) 1,954,473
Profit before taxation 50,096,509 28,472,478 107,786,188 79,050,656
Taxation 24,556,195 13,926,053 52,800,301 38,185,072
Profit after taxation 25,540,314 14,546,425 54,985,887 40,865,584
------------------------------------- (Rupees)
---------------------------------------
Earnings per share - basic and diluted 20.86 11.88 44.92 33.38
ANNEXURE B
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024
July - September 2024 July - September 2023 January - September 2024 January - September 2023
--------------------------------------- (Rupees in '000)
----------------------------------
Mark-up / return / interest earned 310,757,603 151,129,050 825,931,552 346,949,346
Mark-up / return / interest expensed 259,143,899 111,569,381 720,569,733 235,054,918
Net mark-up / interest income 51,613,704 39,559,669 105,361,819 111,894,428
Non-mark-up / interest income
Fee and commission income 6,478,039 4,892,214 17,594,243 14,612,311
Dividend income 266,556 216,177 1,135,079 1,120,477
Foreign exchange income 3,438,925 2,313,587 9,866,476 9,369,247
(Loss) / income from derivatives (16,176) 165,972 (41,021) (43,211)
Gain / (loss) on securities - net 5,930,797 283,567 24,074,130 (1,211,342)
Capital gain on derecognition of financial assets measured at amortised cost - - 2,894,427 -
Other income 251,270 239,313 864,077 1,039,073
Total non-markup / interest income 16,349,411 8,110,830 56,387,411 24,886,555
Total income 67,963,115 47,670,499 161,749,230 136,780,983
Non-mark-up / interest expenses
Operating expenses 23,024,463 18,579,359 59,576,656 51,233,840
Workers' Welfare Fund 993,613 515,389 2,246,109 1,559,009
Other charges 155 28,138 32,966 32,203
Total non-mark-up / interest expenses 24,018,231 19,122,886 61,855,731 52,825,052
Share of profit / (loss) of associates 426,286 (446,558) 672,233 (820,959)
Profit before credit loss allowance from continuing operations 44,371,170 28,101,055 100,565,732 83,134,972
Credit loss allowance / provisions / (reversals) and write-offs - net 893,528 (992,501) (1,473,236) 2,020,477
Profit before taxation from continuing operations 43,477,642 29,093,556 102,038,968 81,114,495
Taxation 24,747,107 14,048,130 53,249,350 38,546,968
Profit after taxation from continuing operations 18,730,535 15,045,426 48,789,618 42,567,527
Discontinued operation
(Loss) / gain from discontinued operation - net of tax (409,151) - 938,610 -
18,321,384 15,045,426 49,728,228 42,567,527
Attributable to:
Equity holders of the Bank
from continuing operations 18,728,087 14,737,205 48,780,590 41,680,502
from discontinued operations (409,151) - 332,118 -
18,318,936 14,737,205 49,112,708 41,680,502
Non-controlling interest
from continuing operations 2,448 308,221 9,028 887,025
from discontinued operations - - 606,492 -
2,448 308,221 615,520 887,025
18,321,384 15,045,426 49,728,228 42,567,527
--------------------------------------- (Rupees)
---------------------------------------
Earnings per share for profit from continuing operations
attributable to the equity holders of the Bank
Basic and diluted 15.30 12.04 39.85 34.05
Earnings per share for profit attributable to the equity
holders of the Bank
Basic and diluted 14.96 12.04 40.12 34.05
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END QRTMJBMTMTATBIIRecent news on United Bank
See all newsREG - United Bank Limited - Financial Results for the 1st Qtr 2025 of UBL
AnnouncementREG - United Bank Limited - BOARD MEETING OF UNITED BANK LIMITED (UBL)
AnnouncementREG - United Bank Limited - Merger of United Bank Ltd. with Silkbank Ltd.
AnnouncementREG - United Bank Limited - Financial Results of 4th Qtr. 2024 of UBL
AnnouncementREG - United Bank Limited - BOARD MEETING OF UNITED BANK LIMITED (“UBL”)
Announcement