The after tax profit (unconsolidated) of United Bank Limited (UBL) has increased to rupees 6.704 billion in the half year period ended June 30, 2011 as compared to Rs 5.200 billion earned in the corresponding period in 2010.
The bank's earning per share increased to Rs 5.48 in the period under review against Rs 4.25 in the same period last year. The board of directors of the bank in its meeting held on July 28, 2011 in London declared an interim cash dividend for the year 2011 at Rs 1.50 per share ie 15 percent. According to the financial results sent to Karachi Stock Exchange (KSE), the bank's mark-up/return/interest earnings increased to Rs 34.058 billion in the half year period this year against Rs 28.480 billion in the same period last year.
The bank's mark-up/return/interest expenses increased to Rs 14.746 billion against Rs 11.876 billion. The bank's total non-mark-up/return/interest income increased to Rs 5.898 billion in the half year period this year against Rs 4.728 billion in the same period last year while total non-mark-up/interest expenses surged to Rs 10.058 billion against Rs 8.672 billion.
On quarterly basis, the bank's after tax profit increased to Rs 3.431 billion translating into earning per share of Rs 2.80 in the quarter ended June 30, 2011 as compared to after tax profit of Rs 2.417 billion with per share earning of Rs 1.97 in the corresponding quarter last year.
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