UBL exceeds market expectations as earnings rise by 47%

Mar-19

Mar-18

% Change

Mark-up/return/interest earned

                     32,137,781

                     29,054,304

10.6%

Mark-up/return/interest expensed

                  (17,170,616)

                  (14,749,327)

16.4%

Net mark-up/return/interest income

                     14,967,165

                     14,304,977

4.6%

Non mark-up/interest income

Fee, commission and brokerage income

                       4,131,123

                       3,440,622

20.1%

Dividend income

                           226,422

                           570,910

-60.3%

Income from dealing in foreign currencies

                           952,802

                           599,426

59.0%

Income /Loss from derivatives

                             51,482

                           (21,850)

-335.6%

Gain on sale of securities - net

                             41,348

                       3,223,087

-98.7%

Other income

                           108,218

                           182,907

-40.8%

Total non mark-up /interest income

                       5,511,395

                       7,995,102

-31.1%

Total Income

                     20,478,560

                     22,300,079

-8.2%

Non mark-up/interest expenses

Operating expenses

                     (9,762,408)

                     (9,509,816)

2.7%

Workers' Welfare Fund

                        (184,081)

                        (126,537)

45.5%

Other charges

                             (1,985)

                                 (432)

359.5%

Total non mark-up/interest expenses

                     (9,948,474)

                     (9,636,785)

3.2%

Share of income/(loss) of associates

                           243,571

                           184,931

31.7%

Profit before provisions

                     10,773,657

                     12,848,225

-16.1%

Provisions and write offs-net

                        (883,020)

                     (1,936,022)

-54.4%

Extra ordinary/ unusual item- charges in respect of pension liability

                                      -  

                     (6,404,635)

Profit before taxation

                       9,890,637

                       4,507,568

119.4%

Taxation

                     (5,052,344)

                     (1,747,577)

189.1%

loss from discontinued operations- net of tax

                        (785,740)

                                      -  

Profit after taxation

                       4,052,553

                       2,759,991

46.8%

Earnings per share - basic and diluted (Rupees)

                                  3.30

                                  2.28

44.7%