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

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

United Bank Ltd. announced financial results for the year ending December 31st, 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 19th, 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 31st 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.

Posted on: 2018-02-19T15:42:00+05:00
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