Half Yearly Accounts ended 30 June, 2021 of UBL | RNS | Ticker

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Half Yearly Accounts ended 30 June, 2021 of UBL

RNS Announcement

RNS Number : 0081I

United Bank Limited

09 August 2021

Secretary's Department

UBL/BOD-233/PSX/Results/21

06 August 2021

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 2021

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 233^rd meeting held on Friday, 06 August 2021 at 03:00 p.m. inter-alia recommended the following:

(i) Cash Dividend

An Interim Cash Dividend for the Half Year ended 30 June 2021 at Rs. 4/- per share i.e. 40%. This is in addition to interim Dividend already paid at Rs.4/- per share i.e. 40%.

(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 Friday, 27 August 2021.

The Share Transfer Books of UBL will remain closed from 28 August 2021 to 03 September 2021 (both days inclusive). Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, Plot No. C-32, Jami Commercial Street-2 D.H.A. Phase-VII Karachi-75400 at the close of business on Friday, 27 August 2021 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 2021 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, 2021

	April - June 2021	April - June 2020	January - June 2021	January - June 2020
	April - June 2021	April - June 2020	January - June 2021	January - June 2020
	-------------- (Rupees in '000) --------------
Mark-up / return / interest earned	35,925,457	43,067,661	67,751,048	86,448,014
Mark-up / return / interest expensed	17,694,416	21,289,376	32,662,142	47,327,204
Net mark-up / interest income	18,231,041	21,778,285	35,088,906	39,120,810

Non mark-up / interest income
Fee and commission income	3,564,368	2,261,860	6,604,890	5,248,309
Dividend income	628,742	399,431	881,158	793,328
Foreign exchange income	710,330	1,000,193	1,194,558	1,732,617
Income / (loss) from derivatives	1,504	(2,234)	8,758	(13,508)
Gain on securities - net	677,562	334,118	2,544,500	676,337
Other income	63,606	269,359	195,629	491,513
Total non mark-up / interest income	5,646,112	4,262,727	11,429,493	8,928,596
Total Income	23,877,153	26,041,012	46,518,399	48,049,406

Non mark-up / Interest expenses
Operating expenses	10,345,999	9,689,626	20,198,825	19,163,219
Workers' Welfare Fund	272,283	280,975	517,178	499,275
Other charges / (reversals)	14,947	(28,706)	39,494	152,333
Total non mark-up / interest expenses	10,633,229	9,941,895	20,755,497	19,814,827

Profit before provisions	13,243,924	16,099,117	25,762,902	28,234,579
(Reversals) / provisions and write-offs - net	(441,467)	5,729,367	(87,396)	9,429,821

PROFIT BEFORE TAXATION	13,685,391	10,369,750	25,850,298	18,804,758

Taxation	6,092,761	4,028,953	10,852,991	7,403,980

PROFIT AFTER TAXATION	7,592,630	6,340,797	14,997,307	11,400,778

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

Earnings per share - basic and diluted	6.20	5.18	12.25	9.31

ANNEXURE B

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

FOR THE SIX MONTHS ENDED JUNE 30, 2021

	April - June 2021	April - June 2020	January - June 2021	January - June 2020
	------------------------------ (Rupees in '000) ------------------------------

Mark-up / return / interest earned	36,873,518	44,068,763	69,804,068	88,442,946
Mark-up / return / interest expensed	18,044,127	21,789,072	33,469,771	48,373,814
Net mark-up / interest income	18,829,391	22,279,691	36,334,297	40,069,132

Non mark-up / interest income
Fee and commission income	3,651,729	2,642,479	7,121,063	6,152,592
Dividend income	182,866	218,133	435,072	395,832
Foreign exchange income	736,225	1,050,376	1,260,733	1,821,352
Income / (loss) from derivatives	1,504	(2,234)	8,758	(13,508)
Gain on securities - net	709,535	400,209	2,583,607	858,261
Other income	58,722	314,350	186,607	488,949
Total non mark-up / interest income	5,340,581	4,623,313	11,595,840	9,703,478
Total income	24,169,972	26,903,004	47,930,137	49,772,610

Non mark-up / interest expenses
Operating expenses	11,008,395	10,631,755	21,793,028	20,946,569
Workers' Welfare Fund	273,358	283,511	521,852	502,933
Other charges	14,947	(28,706)	39,494	152,333
Total non mark-up / interest expenses	11,296,700	10,886,560	22,354,374	21,601,835

Share of profit of associates	72,784	191,665	224,786	44,129
Profit before provisions	12,946,056	16,208,109	25,800,549	28,214,904
(Reversals) / provisions and write-offs - net	(534,265)	6,251,277	(157,933)	9,952,594
Profit before taxation from continuing operations	13,480,321	9,956,832	25,958,482	18,262,310

Taxation	6,127,353	4,125,432	11,019,580	7,525,752

Profit after taxation from continuing operations	7,352,968	5,831,400	14,938,902	10,736,558

Discontinued operations

Profit / (loss) from discontinued operations - net of tax	106,507	(16,776)	106,474	(10,271)

Profit after taxation	7,459,475	5,814,624	15,045,376	10,726,287

Attributable to:
Equity holders of the Bank
from continuing operations	7,282,454	6,085,264	14,881,184	10,956,381
from discontinued operations	106,507	(16,776)	106,474	(10,271)
	7,388,961	6,068,488	14,987,658	10,946,110
Non-controlling interest	70,514	(253,864)	57,718	(219,823)
	7,459,475	5,814,624	15,045,376	10,726,287

	--------------------------------------- (Rupees) ---------------------------------------
Earnings per share for profit from continuing operations
attributable to the ordinary equity holders of the Bank
Basic and diluted	5.95	4.97	12.16	8.95

Earnings per share for profit attributable to the ordinary
equity holders of the Bank
Basic and diluted	6.04	4.96	12.24	8.94

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RNS metadata

Title: Half Yearly Accounts ended 30 June, 2021 of UBL
Time: 10:44:46
Date: 9 Aug 2021
Category: Results
ID: 0081I