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 |
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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 |
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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 |
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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.