/Equities/XLOM/UBLS/RNS

Financial Results for the Half Year Ended 30-06-23

RNS Number : 5455G

United Bank Limited

19 July 2023

Secretary's Department

UBL/BOD-244/PSX/Results/23

19 July 2023

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi.

Dear Sir,

Financial Results for the Half Year Ended 30 June 2023

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 244^th meeting held on Wednesday, 19 July 2023 at Islamabad at 10:00 a.m. inter-alia approved the following:

(i) Cash Dividend

An Interim Cash Dividend for the Half Year ended 30 June 2023 at Rs.11/- per share i.e.110%.

This is addition to interim Dividend already paid at Rs.11/- per share i.e. 110%

(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, 31 July 2023.

The Share Transfer Books of UBL will remain closed from 01 August 2023 to 03 August 2023 (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, 31 July 2023 will be treated in time for the purpose of above entitlement to the transferees.

The accounts / report of the Bank for the Half Year ended 30 June 2023 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 SIX MONTHS ENDED JUNE 30, 2023

	April - June 2023	April - June 2022	January - June 2023	January - June 2022
	April - June 2023	April - June 2022	January - June 2023	January - June 2022
	------------------------------------------ (Rupees in '000) ------------------------------------------
Mark-up / return / interest earned	100,025,963	54,891,250	189,863,002	102,847,455
Mark-up / return / interest expensed	64,419,944	31,258,621	121,001,922	57,741,904
Net mark-up / interest income	35,606,019	23,632,629	68,861,080	45,105,551

Non mark-up / interest income
Fee and commission income	4,434,039	3,835,629	8,771,605	7,754,584
Dividend income	515,963	355,843	991,412	1,259,503
Foreign exchange income	2,560,949	3,332,194	6,907,546	4,614,918
(Loss) / income from derivatives	(161,010)	60,264	(139,516)	22,487
(Loss) / gain on securities - net	(4,286,964)	146,466	(4,926,858)	574,717
Other income	353,730	190,442	593,919	474,770
Total non mark-up / interest income	3,416,707	7,920,838	12,198,108	14,700,979
Total Income	39,022,726	31,553,467	81,059,188	59,806,530

Non mark-up / Interest expenses
Operating expenses	15,380,268	12,361,375	29,905,428	24,089,347
Workers' Welfare Fund	538,601	374,482	1,034,686	699,603
Other charges	2,544	10,334	4,065	15,962
Total non mark-up / interest expenses	15,921,413	12,746,191	30,944,179	24,804,912

Profit before provisions	23,101,313	18,807,276	50,115,009	35,001,618
(Reversal) / Provisions and write-offs - net	(3,077,760)	418,471	(463,169)	765,760

Profit before taxation	26,179,073	18,388,805	50,578,178	34,235,858

Taxation	13,762,654	16,054,639	24,259,019	22,373,985

Profit after taxation	12,416,419	2,334,166	26,319,159	11,861,873

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

Earnings per share - basic and diluted	10.14	1.91	21.50	9.69

ANNEXURE B

CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	April - June 2023	April - June 2022	January - June 2023	January - June 2022
	------------------------------ (Rupees in '000) ------------------------------

Mark-up / return / interest earned	103,252,140	56,515,764	195,820,296	105,847,586
Mark-up / return / interest expensed	65,864,810	31,888,669	123,485,537	58,857,098
Net mark-up / interest income	37,387,330	24,627,095	72,334,759	46,990,488

Non-mark-up / interest income
Fee and commission income	4,938,526	4,154,930	9,720,097	8,372,389
Dividend income	428,851	174,469	904,300	704,274
Foreign exchange income	2,617,020	3,386,444	7,055,660	4,729,777
(Loss) / income from derivatives	(171,577)	738,940	(209,183)	701,163
(Loss) / gain on securities - net	(4,281,584)	201,542	(4,918,716)	647,948
Other income	353,175	202,409	587,371	478,911
Total non-markup / interest income	3,884,411	8,858,734	13,139,529	15,634,462
Total income	41,271,741	33,485,829	85,474,288	62,624,950

Non-mark-up / interest expenses
Operating expenses	16,722,117	13,303,855	32,442,092	25,990,861
Workers' Welfare Fund	543,462	376,571	1,043,620	704,603
Other charges	2,544	10,334	4,065	15,962
Total non-mark-up / interest expenses	17,268,123	13,690,760	33,489,777	26,711,426

(Loss) / share of profit of associates	(216,156)	98,781	(374,401)	51,615
Profit before provisions	23,787,462	19,893,850	51,610,110	35,965,139
(Reversal) / provisions and write-offs - net	(3,125,434)	1,033,661	(410,829)	1,367,770
Profit before taxation from continuing operations	26,912,896	18,860,189	52,020,939	34,597,369

Taxation	13,861,523	16,079,594	24,498,838	22,444,112

Profit after taxation from continuing operations	13,051,373	2,780,595	27,522,101	12,153,257

Discontinued operations

Profit from discontinued operations - net of tax	-	23,616	-	45,788

Profit after taxation	13,051,373	2,804,211	27,522,101	12,199,045

Attributable to:
Equity holders of the Bank
from continuing operations	12,716,401	2,630,746	26,943,297	11,912,672
from discontinued operations	-	23,616	-	45,788
	12,716,401	2,654,362	26,943,297	11,958,460
Non-controlling interest	334,972	149,849	578,804	240,585
	13,051,373	2,804,211	27,522,101	12,199,045

	--------------------------------------- (Rupees) ---------------------------------------
Earnings per share for profit from continuing operations
attributable to the equity holders of the Bank
Basic and diluted	10.39	2.15	22.01	9.73

Earnings per share for profit attributable to the equity
holders of the Bank
Basic and diluted	10.39	2.17	22.01	9.77

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END

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Date	19 Jul 2023
Time	13:00:41
Category	Miscellaneous
ID	5455G

Date	19 Jul 2023
Time	13:00:41
Category	Miscellaneous
ID	5455G

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Financial Results for the Half Year Ended 30-06-23