Secretary's Department

            

UBL/BOD-261/PSX/Results/26

 

             15 April 2026

 

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 2026

 

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 261^st meeting held on Wednesday 15 April 2026 at Islamabad at 10:00 a.m., inter-alia, recommended the following:

 

(i)   Cash Dividend

 

An Interim Cash Dividend for the 1^st Quarter ended 31 March 2026 at Rs.8/- per share i.e.160%.

Bonus Shares

--- NIL ---

 

(ii)  Right Shares

 

--- NIL ---

 

(iii) Any Other Entitlement / Corporate Action

 

--- NIL ---

 

(iv)    Any Other Price-Sensitive Information

     

The Board of Directors of UBL has appointed Lord Zameer M. Choudrey, CBE, SI Pk as Chairman of the Board of Directors of UBL.

 

Further the Board has re-appointed Mr. Muhammad Jawaid Iqbal, as President and CEO of UBL, for a term of three years subject to all applicable regulatory approvals including clearance of Fit and Proper Test (FPT) by the State Bank of Pakistan.

 

Following documents are attached as:

 

Annexure-A (Unconsolidated)

 

1.   Standalone Statements of Financial Position

2.   Standalone Statements of Profit and Loss

3.   Standalone Statement of Changes in Equity

4.   Standalone Statements of Cash Flows

 

 

 

Annexure-B (Consolidated)

 

1.   Consolidated Statements of Financial Position

2.   Consolidated Statements of Profit and Loss

3.   Consolidated Statement of Changes in Equity

4.   Consolidated Statements of Cash Flows

 

The above entitlement of Dividend will be paid to the shareholders whose names will appear in the Register of Members (with their IBAN details) on Thursday, 23 April 2026.  

The Share Transfer Books of UBL will remain closed from Friday, 24 April 2026 to Monday 27 April 2026 (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 Thursday 23 April 2026 will be treated in time for the purpose of payment of interim cash dividend

The Quarterly Financial Statements (Quarterly Report) of the Bank for the 1^st Quarter ended 31 March 2026 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-1
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31, 2026
					(Un-audited)		(Audited)
					March 31, 2026		December 31, 2025
					-------------- (Rupees in '000) -----------
ASSETS
Cash and balances with treasury banks					574,808,391		547,646,979
Balances with other banks					65,852,900		57,179,677
Lendings to financial institutions					-		31,574,547
Investments					9,924,233,155		9,951,054,650
Advances					1,479,131,417		1,369,366,395
Property and equipment					132,717,607		120,546,171
Right-of-use assets					47,157,643		36,198,112
Intangible assets					57,389,199		58,353,831
Deferred tax assets					-		-
Other assets					444,784,168		448,273,083
					12,726,074,480		12,620,193,445
LIABILITIES
Bills payable					59,166,702		58,631,844
Borrowings					6,604,788,795		6,530,014,720
Deposits and other accounts					5,394,449,024		5,168,424,418
Lease liabilities					49,797,372		38,873,814
Subordinated debt					10,000,000		10,000,000
Deferred tax liabilities					13,457,921		135,943,237
Other liabilities					178,239,294		179,573,846
					12,309,899,108		12,121,461,879
NET ASSETS					416,175,372		498,731,566
REPRESENTED BY:
Share capital					12,521,239		12,521,239
Reserves					144,949,939		138,517,698
Surplus on revaluation of assets - net					55,605,538		173,025,714
Unappropriated profit					203,098,656		174,666,915
					416,175,372		498,731,566
CONTINGENCIES AND COMMITMENTS

ANNEXURE - A-2

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

FOR THE THREE MONTHS ENDED MARCH 31, 2026

			January - March 2026		January - March 2025
			-------------- (Rupees in '000) -----------
Mark-up / return / interest earned			323,519,262		260,957,761
Mark-up / return / interest expensed			224,098,666		176,732,625
Net mark-up / interest income			99,420,596		84,225,136
Non mark-up / interest income
Fee and commission income			7,836,987		6,467,543
Dividend income			145,151		862,726
Foreign exchange income			3,938,914		3,477,162
Loss from derivatives			(885,062)		(1,252,817)
Gain on securities - net			30,535,934		5,825,773
Capital gain on derecognition of financial assets measured at amortised cost			-		-
Other income			600,019		217,428
Total non mark-up / interest income			42,171,943		15,597,815
Total Income			141,592,539		99,822,951
Non mark-up / Interest expenses
Operating expenses			37,969,998		24,619,103
Workers' Welfare Fund			2,000,972		1,477,645
Other charges			8,191		653
Total non mark-up / interest expenses			39,979,161		26,097,401
Profit before credit loss allowance			101,613,378		73,725,550
Credit loss allowance and write-offs - net			(455,076)		(1,608,817)
Profit before taxation			102,068,454		75,334,367
Taxation			53,090,596		39,738,749
Profit after taxation			48,977,858		35,595,618
			------------------- Rupees -------------------
Earnings per share - basic and diluted - Restated			19.56		14.46