/Equities/XLOM/UBLS/RNS

3rd Quarter Results

RNS Number : 2720R

United Bank Limited

25 October 2023

Secretary's Department

UBL/BOD-246/PSX/Results/23

25 October 2023

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi.

Dear Sir,

Financial Results for the 3^rd Quarter Ended 30 September 2023

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 246^th meeting held on Wednesday, 25 October 2023 at Islamabad at 10:00 a.m. inter-alia approved the following:

(i) Cash Dividend

An Interim Cash Dividend for the 3^rd Quarter ended 30 September 2023 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, 06 November 2023

The Share Transfer Books of UBL will remain closed from 07 November 2023 to 09 November 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, 06 November 2023 will be treated in time for the purpose of above entitlement to the transferees.

The accounts / report of the Bank for the 3^rd Quarter ended 30 September 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 NINE MONTHS ENDED SEPTEMBER 30, 2023

	July - September 2023	July - September 2022	January - September 2023	January - September 2022
	July - September 2023	July - September 2022	January - September 2023	January - September 2022
	------------------------------------------ (Rupees in '000) ------------------------------------------
Mark-up / return / interest earned	147,350,437	73,458,895	337,213,439	176,306,350
Mark-up / return / interest expensed	109,574,476	45,790,734	230,576,398	103,532,638
Net mark-up / interest income	37,775,961	27,668,161	106,637,041	72,773,712

Non mark-up / interest income
Fee and commission income	4,290,282	3,937,453	13,061,887	11,692,037
Dividend income	219,638	214,056	1,211,050	1,473,559
Foreign exchange income	2,228,965	3,016,173	9,136,511	7,631,091
Income / (loss) from derivatives	168,164	(25,836)	28,648	(3,349)
(Loss) / gain on securities - net	(6,221,102)	92,241	(11,147,960)	666,958
Other income	241,348	184,052	835,267	658,822
Total non mark-up / interest income	927,295	7,418,139	13,125,403	22,119,118
Total Income	38,703,256	35,086,300	119,762,444	94,892,830

Non mark-up / Interest expenses
Operating expenses	17,057,279	13,683,016	46,962,707	37,772,363
Workers' Welfare Fund	515,376	333,706	1,550,062	1,033,309
Other charges	28,138	1,827	32,203	17,789
Total non mark-up / interest expenses	17,600,793	14,018,549	48,544,972	38,823,461

Profit before provisions	21,102,463	21,067,751	71,217,472	56,069,369
(Reversals) / Provisions and write-offs - net	(7,370,015)	4,650,557	(7,833,184)	5,416,317

Profit before taxation	28,472,478	16,417,194	79,050,656	50,653,052

Taxation	13,926,053	9,517,237	38,185,072	31,891,222

Profit after taxation	14,546,425	6,899,957	40,865,584	18,761,830

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

Earnings per share - basic and diluted	11.88	5.64	33.38	15.33

ANNEXURE B

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023

	July - September 2023	July - September 2022	January - September 2023	January - September 2022
	------------------------------ (Rupees in '000) ------------------------------

Mark-up / return / interest earned	151,129,050	75,402,959	346,949,346	181,250,545
Mark-up / return / interest expensed	111,569,381	46,479,598	235,054,918	105,336,696
Net mark-up / interest income	39,559,669	28,923,361	111,894,428	75,913,849

Non-mark-up / interest income
Fee and commission income	4,892,214	4,285,794	14,612,311	12,658,183
Dividend income	216,177	214,057	1,120,477	918,331
Foreign exchange income	2,313,587	3,034,467	9,369,247	7,764,244
(Loss) / income from derivatives	165,972	258,263	(43,211)	959,426
(Loss) / gain on securities - net	(7,848,511)	109,483	(12,767,227)	757,431
Other income	239,313	279,791	826,684	758,702
Total non-markup / interest income	(21,248)	8,181,855	13,118,281	23,816,317
Total income	39,538,421	37,105,216	125,012,709	99,730,166

Non-mark-up / interest expenses
Operating expenses	18,579,359	14,436,639	51,021,451	40,427,500
Workers' Welfare Fund	515,389	338,190	1,559,009	1,042,793
Other charges	28,138	1,827	32,203	17,789
Total non-mark-up / interest expenses	19,122,886	14,776,656	52,612,663	41,488,082

Share of loss from associates	(446,558)	(678,902)	(820,959)	(627,287)
Profit before provisions	19,968,977	21,649,658	71,579,087	57,614,797
(Reversals) / provisions and write-offs - net	(9,124,579)	5,460,852	(9,535,408)	6,828,622
Profit before taxation from continuing operations	29,093,556	16,188,806	81,114,495	50,786,175

Taxation	14,048,130	9,596,211	38,546,968	32,040,323

Profit after taxation from continuing operations	15,045,426	6,592,595	42,567,527	18,745,852

Discontinued operations

Profit from discontinued operations - net of tax	-	1,082	-	46,870

Profit after taxation	15,045,426	6,593,677	42,567,527	18,792,722

Attributable to:
Equity holders of the Bank
from continuing operations	14,737,205	6,513,164	41,680,502	18,425,836
from discontinued operations	-	1,082	-	46,870
	14,737,205	6,514,246	41,680,502	18,472,706
Non-controlling interest	308,221	79,431	887,025	320,016
	15,045,426	6,593,677	42,567,527	18,792,722

	--------------------------------------- (Rupees) ---------------------------------------
Earnings per share for profit from continuing operations
attributable to the equity holders of the Bank
Basic and diluted	12.04	5.32	34.05	15.05

Earnings per share for profit attributable to the equity
holders of the Bank
Basic and diluted	12.04	5.32	34.05	15.09

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END

QRTPPGMCUUPWUBA

Date	25 Oct 2023
Time	10:50:53
Category	Results
ID	2720R

Date	25 Oct 2023
Time	10:50:53
Category	Results
ID	2720R

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3rd Quarter Results