AIRLINK 60.97 Increased By ▲ 1.27 (2.13%)
BOP 6.29 Increased By ▲ 0.03 (0.48%)
CNERGY 4.33 Increased By ▲ 0.06 (1.41%)
DFML 15.86 Increased By ▲ 0.16 (1.02%)
DGKC 69.30 Increased By ▲ 0.10 (0.14%)
FCCL 18.20 Decreased By ▼ -0.15 (-0.82%)
FFBL 26.25 Decreased By ▼ -0.50 (-1.87%)
FFL 9.23 Decreased By ▼ -0.05 (-0.54%)
GGL 10.25 Decreased By ▼ -0.05 (-0.49%)
HBL 117.00 Increased By ▲ 1.10 (0.95%)
HUBC 114.48 Increased By ▲ 0.08 (0.07%)
HUMNL 6.93 Increased By ▲ 0.13 (1.91%)
KEL 4.89 No Change ▼ 0.00 (0%)
KOSM 5.33 Increased By ▲ 0.68 (14.62%)
MLCF 38.50 Increased By ▲ 0.11 (0.29%)
OGDC 123.97 Decreased By ▼ -1.33 (-1.06%)
PAEL 21.85 Increased By ▲ 0.29 (1.35%)
PIAA 11.80 Increased By ▲ 0.93 (8.56%)
PIBTL 6.10 Increased By ▲ 0.08 (1.33%)
PPL 113.75 Decreased By ▼ -0.35 (-0.31%)
PRL 28.30 Increased By ▲ 0.40 (1.43%)
PTC 11.45 Increased By ▲ 0.55 (5.05%)
SEARL 52.30 Increased By ▲ 0.60 (1.16%)
SNGP 67.70 Decreased By ▼ -0.56 (-0.82%)
SSGC 11.33 Decreased By ▼ -0.09 (-0.79%)
TELE 7.85 Increased By ▲ 0.05 (0.64%)
TPLP 11.58 Decreased By ▼ -0.02 (-0.17%)
TRG 71.81 Decreased By ▼ -1.06 (-1.45%)
UNITY 23.10 Decreased By ▼ -0.45 (-1.91%)
WTL 1.29 Decreased By ▼ -0.01 (-0.77%)
BR100 6,721 Increased By 72.8 (1.09%)
BR30 22,559 Decreased By -10.8 (-0.05%)
KSE100 65,326 Increased By 747.2 (1.16%)
KSE30 22,146 Increased By 256.6 (1.17%)

KARACHI: United Bank Limited (UBL) declared a consolidated profit before tax (PBT) of Rs 52.0 billion for the half year ended June 30th 2023, with an impressive growth of 50 percent over last year.

Profit after tax (PAT) was reported at Rs 27.5 billion, with a two-fold increase. Earnings per share (EPS) was measured at Rs 22.01 (H1’22: Rs. 9.77). The ROE for the current period was reported at 26 percent (HI’22: 13pc).

The asset base has crossed Rs 3.4 trillion, deposits have reached Rs 2.4 trillion and advances were recorded at Rs 916 billion as at Jun’23. The Bank’s gross revenues stood at Rs 85.5 billion, growing by 36 percent, driven by the buildup in the deposit base and well positioned investment portfolio.

Net-markup income (NII) increased by a robust growth of 54 percent to Rs 72.3 billion for H1’23. The Bank’s Non-Fund Income (NFI) was reported at Rs 13.1 billion for H1’23.

Domestic CASA deposits averaged Rs 1.5 trillion for H1’23, with a growth of 13 percent year on year and a portfolio increase of Rs 167 billion. The average CASA to total deposits ratio continued to strengthen and was measured at 90 percent in H1’23 (H1’22: 87pc).

Islamic banking remains a key priority and UBL continues to expand within this fast-growing segment. UBL Ameen’s branch network stands at over 150 branches with 500 Islamic Banking Windows (IBWs) all across Pakistan. The bank sees the Islamic segment as a tremendous growth opportunity and will continue to build on the UBL Ameen footprint.

UBL has embraced the digital age by offering a comprehensive range of digital banking services. UBL’s digital banking platform has revolutionized financial services, providing convenient, secure, and user-friendly solutions. In 2023, the number of registered accounts reached 3.7 million increasing by 27 percent.

The number of financial transactions has increased by 69 percent, while the payment value of financial transactions has grown by 84 percent to over Rs 2.1 trillion YTD Jun’23. The Bank is redefining the financial landscape with a futuristic mindset, innovative ideas and well directed capital allocation towards technology investments.

Branch banking remains the foundation of our business, and we are investing in our footprint while improving service and staff levels across the country.

UBL is committed to actively contribute to the development of the economy as Pakistan’s leading financial institution, with a major presence across all sectors. We will continue to build on financial inclusion in the country and provide banking services throughout Pakistan across all our touch points.

UBL’s most valuable asset is our people, and the bank is committed to investing in their growth and development. We remain extremely focused on our customer service levels, growth in digital banking, as we build our franchise in coming years. We remain fully committed to delivering a strong return on equity, with an efficient capital base as we drive the organization towards a larger ambition.

Copyright Business Recorder, 2023

Comments

Comments are closed.