The profit after tax of United Bank Limited (UBL) has increased to Rs 5.2 billion in the half year period which ended on June 30 2010 as compared to Rs 4.287 billion earned in the corresponding period in 2009. The bank's earning per share increased to Rs 4.25 in the period under review as compared to Rs 3.50 in the same period last year.
The board of directors of the bank in its 167th meeting held on Friday in London, declared an interim cash dividend for the year 2010 at Re 1.00 per share ie 10 percent. According to the financial results sent to the Karachi Stock Exchange (KSE), the bank's mark-up/return/interest earning declined to Rs 28.480 billion in this period as compared to Rs 31.628 billion in the same period last year.
The bank's mark-up/return/interest expenses reduced to Rs 11.965 billion as compared to Rs 15.944 billion. The bank's total non-mark-up/return/interest income declined to Rs 4.728 billion in the six months period this year as compared to Rs 6.209 billion in the same period last year while the bank's non-mark-up/return/interest expenses stood at Rs 8.584 billion as compared to Rs 8.421 billion. The bank's profit before tax was Rs 8.565 billion in the first half of 2010 as compared to Rs 6.768 billion in the corresponding period in 2009.
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