UBL 9MCY26 profit rises 16% to Rs116bn, declares Rs8 dividend

MG News | October 16, 2026 at 02:45 PM GMT+05:00

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October 16, 2026 (MLN): Profit after taxation of United Bank Limited (PSX: UBL) rose 16.45% year-on-year to Rs116.56bn for the nine months ended September 30, 2026 (9MCY26), compared with Rs100.09bn in the same period last year.

Basic and diluted earnings per share (EPS) increased 15.80% to Rs46.54 from Rs40.19 in 9MCY25.

Along with the results, the bank declared an interim cash dividend of Rs8 per share (160%) for the third quarter ended September 30, 2026. This is in addition to the interim dividend of Rs16 per share (320%) already paid.

The growth was driven by a more than doubling of non-markup income, led by a more than five-fold jump in gains on securities, along with higher net interest income. Sharply higher operating expenses and a share of loss from associates partly offset the gains.

Mark-up/return/interest earned grew 18.46% to Rs1.02tr from Rs861.25bn, while interest expensed rose faster, by 24.15%, to Rs737.23bn from Rs593.84bn. Net interest income increased 5.84% to Rs283.02bn from Rs267.41bn.

Gain on securities (net) surged more than five-fold to Rs47.89bn from Rs9.05bn. Foreign exchange income rose 67.84% to Rs21.61bn from Rs12.88bn, and fee and commission income grew 8.09% to Rs26.25bn from Rs24.28bn.

The bank booked a gain of Rs742.62m from derivatives, against a loss of Rs1.26bn last year, while other income increased 47.88% to Rs1.03bn from Rs693.48m. Dividend income fell 62.03% to Rs627.08m from Rs1.65bn.

As a result, total non-markup income more than doubled, rising 107.50% to Rs98.14bn from Rs47.30bn, and total income climbed 21.12% to Rs381.16bn from Rs314.71bn.

Operating expenses increased 52.48% to Rs138.28bn from Rs90.69bn, Workers’ Welfare Fund rose 10.42% to Rs4.87bn from Rs4.41bn, and other charges declined 23.24% to Rs36.55m from Rs47.62m. Total non-markup expenses grew 50.49% to Rs143.19bn from Rs95.15bn.

The bank also recorded a share of loss from associates of Rs172.69m, against a profit of Rs766.50m in 9MCY25.

Profit before credit loss allowance grew 7.93% to Rs237.80bn from Rs220.33bn. A net reversal of credit loss allowance and write-offs of Rs4.46bn, compared with Rs4.71bn last year, took profit before taxation up 7.65% to Rs242.26bn from Rs225.04bn.

Taxation edged up 0.60% to Rs125.70bn from Rs124.95bn, leaving profit after taxation at Rs116.56bn.

STATEMENT OF PROFIT OR LOSS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 (Rs.000)
Description	2026	2025	Change (%)
Mark-up / return / interest earned	1,020,253,501	861,251,119	18.46%
Mark-up / return / interest expensed	737,230,985	593,838,387	24.15%
Net mark-up / interest income	283,022,516	267,412,732	5.84%
Fee and commission income	26,245,952	24,282,106	8.09%
Dividend income	627,084	1,651,515	-62.03%
Foreign exchange income	21,610,915	12,875,535	67.84%
Gain / (loss) from derivatives	742,618	(1,255,891)
Gain / (loss) on securities - net	47,886,559	9,049,933	429.14%
Other income	1,025,509	693,482	47.88%
Total non-mark-up / interest income	98,138,637	47,296,680	107.50%
Total Income	381,161,153	314,709,412	21.12%
Operating expenses	138,283,357	90,688,043	52.48%
Workers' Welfare Fund	4,870,952	4,411,327	10.42%
Other charges	36,553	47,618	-23.24%
Total non-mark-up / interest expenses	143,190,862	95,146,988	50.49%
Share of (loss) / profit of associates	(172,686)	766,500
Profit before credit loss allowance	237,797,605	220,328,924	7.93%
Credit loss allowance and write-offs - net	(4,460,481)	(4,711,348)	-5.32%
Profit before taxation	242,258,086	225,040,272	7.65%
Taxation	125,700,059	124,945,657	0.60%
Profit after taxation	116,558,027	100,094,615	16.45%
Earnings per share - basic and diluted (Rupees)	46.54	40.19	15.80%

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