UBL observes better first half as its profits surge by 52%

Jun-19

Jun-18

% Change

Mark-up/return/interest earned

 66,564,781

 54,164,809

22.9%

Mark-up/return/interest expensed

 (36,641,997)

 (26,109,232)

40.3%

Net mark-up/return/interest income

 29,922,784

 28,055,577

6.7%

Non mark-up/interest income

Fee, commission and brokerage income

 7,076,263

 6,727,671

5.2%

Dividend income

 773,925

 1,158,938

-33.2%

Income from dealing in foreign currencies

 2,224,878

 1,446,754

53.8%

Income /Loss from derivatives

 85,426

 (6,274)

Gain on sale of securities - net

 201,738

 4,541,825

-95.6%

Other income

 1,781,641

 417,075

327.2%

Total non-mark-up /interest income

 12,143,871

 14,285,989

-15.0%

Total Income

 42,066,655

 42,341,566

-0.6%

Non mark-up/interest expenses

Operating expenses

 (19,212,719)

 (18,516,714)

3.8%

Workers' Welfare Fund

 (353,105)

 (282,035)

25.2%

Other charges

 (2,218)

 (4,019)

-44.8%

Total non-mark-up/interest expenses

 (19,568,042)

 (18,802,768)

4.1%

Share of income/(loss) of associates

 -  

 -  

Profit before provisions

 22,498,613

 23,538,798

-4.4%

Provisions and write offs-net

 (4,494,025)

 (4,532,102)

-0.8%

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

 -  

 (8,404,635)

Profit before taxation

 18,004,588

 10,602,061

69.8%

Taxation

 (8,461,811)

 (4,331,357)

95.4%

loss from discontinued operations- net of tax

 -  

 -  

Profit after taxation

 9,542,777

 6,270,704

52.2%

Earnings per share - basic and diluted (Rupees)

 7.80

 5.12

52.3%