KARACHI: UBL continued its growth momentum with Profit Before Tax (PBT) of Rs25.9 billion for the half year ended June 30, 2021, recording strong growth of 37% year on year. This is the highest half year PBT that the bank has achieved in over a decade. Earnings per share (EPS) were measured at Rs12.25 for H1’21 (H1’20: Rs9.31). The bank declared dividends of Rs4.0 per share for Q2’21, which takes the overall dividend distribution to Rs9.8 billion for the half year ended June 30, 2021, with a payout of over 65% of profits.
Branch Banking Group delivered one of the best years in the recent history of the Bank as domestic current deposits witnessed a year on year growth of 22%, the highest in the last 5 years. Domestic total deposits stood at Rs1.6 trillion with the highest year on year growth of over 20%, with expansion in market share to 8.3%.
UBL’s net advances stood at Rs557 billion as at Jun’21, increasing by 5% since Dec’20. The Consumer segment continues to perform well, with average growth in the secured autos segment of 14%.
UBL recorded non-fund income (NFI) of Rs11.4 billion for H1’21, a strong growth of 28% year on year. Fees and commissions of Rs6.6 billion were earned during the period, an increase of 26% over H1’20. The bank also realized capital gains of Rs2.5 billion during the period, primarily on its foreign bonds portfolio. The bank record remittance commissions of Rs840 million, with a 12% growth year on year. Income from ATM / Debit Cards within domestic bank stood at Rs1.1 billion, growing by 64% as ATM throughput volumes increased 23% year on year.–PR
Copyright Business Recorder, 2021
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