Corporate Alert: United Bank (UBL) reports 6-months EPS of 10.82, announces Cash Dividend of 3/- per share for the Period Ended June, 2017

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United Bank announced its Financial Results for the half year ended June 30, 2017.

The company’s Net mark-up/Return/Interest Income after Provisions increased by 2.06percent in the outgoing year, whereas Profit after Taxation for the period declined by 7.35percent.

The Company issued a Cash Dividend of Rs. 3/- per share i.e. 30%. The board approved no Bonus Shares, Right Shares or any other entitlement.

Comparison of Key Financials

 

For the Half Year – Jan/June

Key Financials

Jan – June, 2017

Jan – June 30, 2016

% Change

 Mark-up/Return/Interest Earned

49,683,101

49,524,794

0.32%

 Mark-up/Return/Interest Expensed

21,668,388

20,194,452

7.30%

 Net Mark-up/Return/Interest income

28,014,713

29,330,342

-4.49%

 Reversal/(provision) against Loans and Advances – net

663,403

728,328

-8.91%

 Reversal/(provision) against lending to Financial Institutions – net

8,260

 

 Provision for diminution in value of Investments – Net

188,888

657,585

-71.28%

 Bad Debts written off directly

24,888

45,370

-45.14%

 Net mark-up/Return/Interest Income after Provisions

28,472,600

27,899,059

2.06%

 Non mark-up/Interest Income

     

 Fee, Commission and brokerage Income

5,907,757

6,386,076

-7.49%

 Dividend Income

1,291,554

1,515,826

-14.80%

 Income from dealing in Foreign Currencies

822,422

977,248

-15.84%

 Gain on sale of securities -net

3,833,565

4,513,514

-15.06%

 Unrealized gain on revaluation of investments classifies as held for Trading

2,483

4,745

-47.67%

 Other Income

488,043

557,270

-12.42%

 Total non mark-up/Interest Income

12,345,824

13,954,679

-11.53%

 Non mark-up/Interest Expenses

     

 Administrative Expenses

17,316,904

16,294,642

6.27%

 Other (provisions)/Reversals – net

2,508

251,393

-99.00%

 Workers' Welfare Fund

473,371

506,251

-6.49%

 Other charges

58,640

30,250

93.85%

 Total non mark-up/Interest Expense

17,846,407

17,082,536

4.47%

 Taxation – Current

8,301,375

8,799,580

-5.66%

 Prior

459,532

1,813,578

-74.66%

 Deferred

966,975

136,528

608.26%

 Total – Taxation

9,727,882

10,476,630

-7.15%

 Profit after Taxation

13,244,135

14,294,572

-7.35%

 Earnings per share – basic and diluted

10.82

11.68

-7.36%

Rupees in ‘000

The complete statements can be accessed here.

Posted on: 2017-07-27T12:38:00+05:00

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