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%.
|
Unconsolidated Profit and Loss Account – For the Year Ended, December 31st 2017 |
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|---|---|---|---|
|
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.
