UBL witnesses growth of 49% in net profits

News Image

MG News | October 16, 2019 at 12:36 PM GMT+05:00

October 16, 2019 (MLN): United Bank Limited (UBL) has earned net income of Rs. 14.2 billion (EPS: Rs. 11.62) during the nine months ended on September 30, 2019. This amount is nearly 49% higher than the income of same period last year.

The improvement in net earnings can be attributed to growth in Net Interest Income by 7%, which in turn is an outcome of better asset pricing as well as book expansion. On the other hand, Non-interest Income shrank by 8.4% owing to decline in dividend income and gains made on sales of securities.

UBL also announced an Interim Cash Dividend for the quarter ended on September 30, 2019 at Rs. 3 per share i.e. 30%. This is in addition to the dividends already paid at Rs. 5 per share i.e. 50%.

Consolidated Profit and Loss Account for the nine months ended September 30, 2019 (Rupees '000)

 

Sep-19

Sep-18

% Change

Mark-up/return/interest earned

114,622,747

86,991,106

31.8%

Mark-up/return/interest expensed

68,165,602

43,553,484

56.5%

Net mark-up/return/interest income

46,457,145

43,437,622

7.0%

Non mark-up/interest income

     

Fee, commission and brokerage income

12,054,092

11,447,163

5.3%

Dividend income

784,488

1,045,814

-25.0%

Income from dealing in foreign currencies

3,484,894

2,843,801

22.5%

Income /Loss from derivatives

50,298

(8,958)

 

Gain on sale of securities - net

772,386

4,793,274

-83.9%

Other income

1,874,038

641,432

192.2%

Total non-mark-up /interest income

19,020,196

20,762,526

-8.4%

Total Income

65,477,341

64,200,148

2.0%

Non mark-up/interest expenses

     

Operating expenses

(31,811,389)

(30,733,737)

3.5%

Workers' Welfare Fund

(532,237)

(424,918)

25.3%

Other charges

(2,945)

(43,358)

-93.2%

Total non-mark-up/interest expenses

(32,346,571)

(31,202,013)

3.7%

Share of income/(loss) of associates

427,840

455,007

 

Profit before provisions

33,558,610

33,453,142

0.3%

Provisions and write offs-net

(5,706,877)

(7,988,618)

-28.6%

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

-

(8,746,607)

 

Profit before taxation

27,851,733

16,717,917

66.6%

Taxation

(12,163,304)

(7,224,512)

68.4%

loss from discontinued operations- net of tax

(1,468,330)

-

 

Profit after taxation

14,220,099

9,493,405

49.8%

Earnings per share - basic and diluted (Rupees)

11.62

7.96

46.0%

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 168,155.49
146.93M
-0.29%
-481.36
ALLSHR 101,821.25
491.54M
-0.27%
-275.83
KSE30 50,151.61
66.23M
-0.22%
-111.06
KMI30 240,694.06
56.00M
-0.34%
-821.69
KMIALLSHR 65,906.19
236.46M
-0.35%
-230.83
BKTi 46,796.32
10.20M
-0.20%
-94.16
OGTi 34,362.14
4.89M
0.39%
134.82
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 85,035.00 87,700.00
84,835.00
10.00
0.01%
BRENT CRUDE 102.50 102.85
98.40
0.19
0.19%
RICHARDS BAY COAL MONTHLY 128.50 0.00
0.00
0.50
0.39%
ROTTERDAM COAL MONTHLY 140.00 143.25
140.00
-3.90
-2.71%
USD RBD PALM OLEIN 1,167.50 1,167.50
1,167.50
0.00
0.00%
CRUDE OIL - WTI 91.51 93.51
88.06
-1.36
-1.46%
SUGAR #11 WORLD 19.91 19.96
18.93
0.97
5.12%

Chart of the Day


Latest News
October 02, 2026 at 05:03 PM GMT+05:00

PSX Closing Bell: Just Under the Line


October 02, 2026 at 04:58 PM GMT+05:00

PKR gains 3 paisa against USD


October 02, 2026 at 04:22 PM GMT+05:00

Trade gap widens to $3.56bn in September


October 02, 2026 at 04:16 PM GMT+05:00

VIS reaffirms The Searle Company's long-term rating at 'AA-'



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg