October 20, 2022 (MLN): United Bank Limited (UBL) has revealed its financial statement today for nine months ended September 2022, as per which the bank posted a profit worth Rs18.79 billion, down by 14% YoY, compared to Rs21.87bn in the corresponding period last year.
This has translated into earnings per share (EPS) which clocked in at Rs15.09 down by 15.03%, against EPS of Rs17.76 in the same period last year (SPLY).
The bank also announced an interim dividend of Rs4 a share for the 9MCY22, taking the cumulative CY22 payout to Rs13 per share.
Going by the income statement, the bank witnessed an increase of 36.24% in its net interest income (NII) to stand at Rs75.91bn, compared to SPLY. The surge in NII is due to a jump in interest-earning (Rs181bn), up by 61.36% YoY.
During the period under review, the bank’s non-funded income (NFI) climbed up by 36.74% YoY to Rs23.82bn owing to the massive surge in foreign exchange income by 195% YoY to clock in at Rs7.76bn. In addition, the increment in fee and commission income is also up by 20.17%.
On the contrary, dividend income plunged by 4.19% YoY to Rs918 million as compared to SPLY.
The bank noted a 20.15% increment in its non-markup interest expense to lock in at Rs41.49bn during the period, against Rs34.53bn in SPLY.
In addition, the bank booked a provisioning reversal of Rs6.83bn during the review period compared to the provisioning expense of Rs866mn in SPLY.
On the tax front, the bank paid Rs32.04bn, 90.91% higher than the amount paid in SPLY.
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Posted on:2022-10-20T10:23:18+05:00
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