/Equities/XLOM/UBLS/RNS

1st Quarter Results of United Bank Limited

RNS Number : 7399I

United Bank Limited

20 April 2022

Secretary's Department

UBL/BOD-237/PSX/Results/22

20 April 2022

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi.

Dear Sir,

Financial Results for the 1^st Quarter Ended 31 March 2022

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 237^th meeting held on Wednesday, 20 April 2022 at Islamabad at 10:00 a.m. inter-alia approved the following:

(i) Cash Dividend

An Interim Cash Dividend for the quarter ended 31 March 2022 at Rs.5/- per share i.e.50%.

(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 Wednesday, 04 May 2022.

The Share Transfer Books of UBL will remain closed from 05 May 2022 to 07 May 2022 (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 Wednesday, 04 May 2022 will be treated in time for the purpose of above entitlement to the transferees.

The accounts / report of the Bank for the 1^stQuarter ended 31 March 2022 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

FOR THE THREE MONTHS ENDED MARCH 31, 2022

	January - March 2022	January - March 2021
	-------------- (Rupees in '000) ---------

Mark-up / return / interest earned	47,956,205	31,825,591
Mark-up / return / interest expensed	26,483,283	14,967,726
Net mark-up / interest income	21,472,922	16,857,865

Non mark-up / interest income
Fee and commission income	3,918,955	3,040,522
Dividend income	903,660	252,416
Foreign exchange income	1,282,724	484,228
(Loss) / income from derivatives	(37,777)	7,254
Gain on securities - net	428,251	1,866,938
Other income	284,328	132,023
Total non-mark-up / interest income	6,780,141	5,783,381
Total income	28,253,063	22,641,246

Non mark-up / interest expenses
Operating expenses	11,727,972	9,852,826
Workers' Welfare Fund	325,121	244,895
Other charges	5,628	24,547
Total non mark-up / interest expenses	12,058,721	10,122,268

Profit before provisions	16,194,342	12,518,978
Provisions and write-offs- net	347,289	354,071

Profit before taxation	15,847,053	12,164,907

Taxation	6,319,346	4,760,230

Profit after taxation	9,527,707	7,404,677

	-------------- (Rupees) --------------

Earnings per share - basic and diluted	7.78	6.05

Annexure B

CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT

FOR THE THREE MONTHS ENDED MARCH 31, 2022

	January - March 2022	January - March 2021
	------------ (Rupees in '000) ------------

Mark-up / return / interest earned	49,331,822	32,930,550
Mark-up / return / interest expensed	26,968,429	15,425,644
Net mark-up / interest income	22,363,393	17,504,906

Non mark-up / interest income
Fee and commission income	4,217,459	3,469,334
Dividend income	529,805	252,206
Foreign exchange income	1,343,333	524,508
(Loss) / income from derivatives	(37,777)	7,254
Gain on securities - net	446,406	1,874,072
Other income	276,502	127,885
Total non mark-up / interest income	6,775,728	6,255,259
Total income	29,139,121	23,760,165

Non mark-up / interest expenses
Operating expenses	12,687,006	10,784,633
Workers' Welfare Fund	328,032	248,494
Other charges	5,628	24,547
Total non mark-up / interest expenses	13,020,666	11,057,674

Share of (loss) / profit of associates	(47,166)	152,002
Profit before provisions	16,071,289	12,854,493
Provisions and write-offs - net	334,109	376,332
Profit before taxation from continuing operations	15,737,180	12,478,161

Taxation	6,364,518	4,892,227

Profit after taxation from continuing operations	9,372,662	7,585,934

Discontinued operation

Profit / (loss) from discontinued operation - net of tax	22,172	(33)

	9,394,834	7,585,901
Attributable to:
Equity holders of the Bank
from continuing operations	9,281,926	7,598,730
from discontinued operation	22,172	(33)
	9,304,098	7,598,697
Non-controlling interest	90,736	(12,796)
	9,394,834	7,585,901

	------------------- (Rupees) -------------------
Earnings per share for profit from continuing operations attributable to the equity holders of the Bank Basic and diluted	7.58	6.21

Earnings per share for profit attributable to the equity holders of the Bank Basic and diluted	7.60	6.21

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Date	20 Apr 2022
Time	10:08:29
Category	Results
ID	7399I

Date	20 Apr 2022
Time	10:08:29
Category	Results
ID	7399I

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1st Quarter Results of United Bank Limited