United Bank Ltd profits fall 8.33% to Rs. 25.421 billion

MG News | February 19, 2018 at 03:42 PM GMT+05:00

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United Bank Ltd. announced financial results for the year ending December 31^st, 2017. The company reported net mark-up/return/interest earned after provisions worth Rs. 53.827 billion during the year against Rs. 98.219 billion same period last year; up 9.15% from last year.

United Bank Limited reported bottom-line profits worth Rs. 25.421 billion with an EPS of 20.77/share.

In addition to that, the company management during the board meeting held at Dubai on February 19^th, 2018 also approved a final cash dividend of rupees 4 per share i.e. 40%. The dividend is in addition to the interim dividend already paid of Rupees 9 per share i.e. 90%.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Year Ended, December 31^st 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net mark-up/return/interest earned	107,205,820	98,219,214	9.15%
Net mark-up/return/interest earned after provisions	53,827,086	55,563,662	-3.13%
Fee, commission and brokerage income	12,617,676	12,318,684	2.43%
Dividend Income	2,360,881	3,266,559	-27.73%
Income from Foreign Currencies	1,878,141	1,701,016	10.41%
Capital gain on sale of securities - net	4,398,560	5,364,463	-18.01%
Other income	904,592	960,104	-5.78%
Total non-mark-up/interest income	22,162,142	23,608,642	-6.13%
Administrative Expenses	35,349,864	31,903,598	10.80%
Other provisions - net	389,069	260,848	49.16%
Other charges/reversals	59,688	69,813	-14.50%
Total non-mark-up/interest expenses	35,829,187	33,156,708	8.06%
Profit before Taxation	40,160,041	46,015,596	-12.73%
Taxation	14,738,809	18,285,484	-19.40%
Profit after Taxation	25,421,232	27,730,112	-8.33%
EPS - Basic and diluted	20.77	22.65	-8.30%

Company release on Earnings Report can be accessed here.

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