The profit after tax of United Bank Limited (UBL) has increased to Rs 7.009 billion in the quarter ended September 30, 2016 as compared to Rs 6.548 billion earned in the same quarter in 2015. The bank's earning per share surged to Rs 5.73 in this quarter against Rs 5.35 in the same quarter last year. The board of directors of the bank, in its meeting held at Islamabad on Wednesday recommended third interim cash dividend for the year 2016 at Rs 3.00 per share ie 30 percent.
This is in addition to interim dividends already paid at Rs 6 per share ie 60 percent. According to the financial results, the bank's markup/return/interest earning increased to Rs 23.820 billion in the third quarter of 2016 as compared to Rs 23.710 billion in the same quarter in 2015 while markup/return/interest expenses surged to Rs 13.668 billion against Rs 13.853 billion.
The bank's total non-markup/return/interest income increased to Rs 18.432 billion in this quarter as compared to Rs 17.932 billion in the same quarter last year while total non-markup/return/interest expenses decreased to Rs 7.623 billion against Rs 7.781 billion. The bank's profit before taxation increased to Rs 10.809 billion in this quarter against Rs 10.151 in the same quarter last year.
The UBL's profit after tax in the first nine months ended on September 30 of the current year increased to Rs 21.304 billion translating into earning per share of Rs 17.40 as compared to PAT of Rs 19.270 billion with EPS of Rs 15.74 in the same period last year.
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