Source - RNS
RNS Number : 9344M
United Bank Limited
19 October 2016
 

 

Secretary's Department

 

UBL/BOD-205/PSX/Results

19-October-2016

 

 

Form-7

 

 The General Manager                  

 Pakistan Stock Exchange Limited

 Stock Exchange Building,

 Stock Exchange Road,

 Karachi.



 

 

Dear Sir,

 

Financial Results for Third Quarter Ended 30 September 2016

 

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 205th meeting held on Wednesday, October 19, 2016 at 10:00 a.m. at Islamabad recommended the following:

 

 

(i)            Cash Dividend

3rd Interim Cash Dividend for the year 2016 at Rs.3/- per share i.e.30%. This is in addition to Interim Dividends already paid at Rs. 6/- per share i.e. 60%.

 

(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 on Thursday, November 10, 2016.

 

 

 

 

 

 

Page 1 of 2

 

 

The Share Transfer Books of UBL will be closed from 11-November-2016 to 17-November-2016 (both days inclusive).  Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, 2nd Floor, State Life Building No.3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on Thursday, November 10, 2016 will be treated in time for the purpose of above entitlement to the transferees.

 

We will be sending you 200 copies of printed Accounts for distribution amongst the TRE Certificate Holders of the Exchange.

 

 

Yours faithfully,

 

 

         Sd/-              

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

 

 

C.C. to:

1)    Citibank N.A., Karachi Branch, Custodian of UBL GDRs;

2)    London Stock Exchange;

3)    The Commissioner, Enforcement & Monitoring Division, Securities and Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Islamabad;

 

 

 

 

 

Page 2 of 2

 

 

 

 

 

 

 

 

 

 

Annexure-A

 

 

 




 

 

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

 

 

 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016







 

 





January - September 2016


January - September 2015

 

 



----------- (Rupees in '000) ----------

 








 

 

Mark-up / return / interest earned




      73,354,716


     70,137,026

 

 

Mark-up / return / interest expensed




     (30,356,292)


    (28,996,421)

 

 

Net mark-up / return / interest income




      42,998,424


     41,140,605

 

 








 

 

Reversal / (provision) against loans and advances - net




          (147,553)


      (2,546,638)

 

 

Provision for diminution in value of investments - net




          (923,587)


           (38,387)

 

 

Bad debts written off directly




            (58,098)


           (94,040)

 

 





       (1,129,238)


      (2,679,065)

 

 

Net mark-up / return / interest income after provisions




      41,869,186


     38,461,540

 

 








 

 

Non mark-up / interest income







 

 

Fee, commission and brokerage income




        9,144,768


       9,170,080

 

 

Dividend income




        2,026,549


       2,410,511

 

 

Income from dealing in foreign currencies




        1,394,056


       1,756,117

 

 

Gain on sale of securities - net




        5,161,556


       3,029,970

 

 

Unrealized (loss) / gain on revaluation of investments







 

 

classified as held for trading




             (5,491)


           (58,523)

 

 

Other income




           695,927


          835,473

 

 

Total non mark-up / interest income




      18,417,365


     17,143,628

 

 





      60,286,551


     55,605,168

 

 

Non mark-up / interest expenses







 

 

Administrative expenses




     (23,665,798)


    (22,318,241)

 

 

Other provisions - net




          (274,599)


         (135,082)

 

 

Workers' Welfare Fund




          (709,483)


         (665,896)

 

 

Other charges




            (56,253)


         (200,310)

 

 

Total non mark-up / interest expenses




     (24,706,133)


    (23,319,529)

 

 

Profit before taxation




      35,580,418


     32,285,639

 

 








 

 

Taxation - Current




     (12,722,456)


    (11,812,534)

 

 

- Prior




       (1,813,191)


      (1,985,437)

 

 

- Deferred




           259,746


          783,236

 

 





     (14,275,901)


    (13,014,735)

 

 

Profit after taxation




      21,304,517


     19,270,904

 

 








 

 








 

 



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

 








 

 

Earnings per share - basic and diluted




              17.40


             15.74

 

 

 

 

 

 

 

 

 

 

 

Annexure-B

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016
















 





 January - September 2016


 January - September 2015




---------- (Rupees in '000) -------------









 Mark-up / return / interest earned





   75,904,854


  72,502,592

 Mark-up / return / interest expensed





  (31,496,516)


 (29,892,744)

 Net mark-up / return / interest income





   44,408,338


  42,609,848









 Reversal / (provision) against loans and advances - net





       (226,390)


   (2,431,485)

 Provision for diminution in value of investments - net





       (957,890)


       (74,382)

 Bad debts written off directly





         (58,098)


      (105,852)






    (1,242,378)


   (2,611,719)

 Net mark-up / return / interest income after provisions





   43,165,960


  39,998,129









 Non mark-up / interest income








 Fee, commission and brokerage income





   10,661,213


  10,745,825

 Dividend income 





     1,489,897


    1,669,280

 Income from dealing in foreign currencies





     1,562,135


    1,967,555

 Gain on sale of securities - net





     5,279,297


    3,144,989

 Unrealized (loss) / gain on revaluation of investments








 classified as held for trading





          (2,903)


       (50,995)

 Other income 





        696,156


    1,100,425

 Total non mark-up / interest income





   19,685,795


  18,577,079






   62,851,755


  58,575,208

 Non mark-up / interest expenses








 Administrative expenses





  (26,020,787)


 (24,541,529)

 Other provisions - net





       (287,200)


      (135,082)

 Workers' Welfare Fund





       (714,277)


      (670,642)

 Other charges





         (56,253)


      (200,310)

 Total non mark-up / interest expenses





  (27,078,517)


 (25,547,563)






   35,773,238


  33,027,645

 Share of income of associates





        685,359


       604,793

 Profit before taxation





   36,458,597


  33,632,438









Taxation - Current





  (13,032,797)


 (11,985,759)

- Prior





    (1,968,203)


   (1,986,080)

- Deferred





        293,561


       783,236






  (14,707,439)


 (13,188,603)

 Profit after taxation





   21,751,158


  20,443,835

 Attributable to:








 Equity shareholders of the Bank





   21,529,731


  19,842,062

 Non-controlling interest





        221,427


       601,773






   21,751,158


  20,443,835




 

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

 Earnings per share - basic and diluted 





           17.59


          16.21

 


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