UBL makes Rs5.45 billion quarterly provisioning, write-offs
KARACHI: High provisioning and write-offs of Rs5.45 billion has resulted in decline of after tax profit declared by United Bank Limited (UBL)
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Tag: UBL
UBL continues de-risking strategy in international operations
KARACHI: The United Bank Limited (UBL) has continued its de-risking strategy in its overseas operations, with the business model focused on selective lending mainly to established corporates with a longer term business relationship with the bank.
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UBL concludes asset sale transaction of Tanzania operation
KARACHI: United Bank Limited (UBL) has said that it has concluded transactions related to Asset Liabilities Sale of its operation in Tanzania. The bank on Monday informed the Pakistan Stock Exchange (PSX) that the transactions related to Assets Liabilities Sale of UBL Bank (Tanzania) Limited (UBTL), a wholly owned subsidiary of United Bank Limited, had […]
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UBL pays Rs11.59 billion against tax demand
KARACHI: United Bank Limited (UBL) has paid Rs11.59 billion against tax demand created by Federal Board of Revenue (FBR) for past multiple years. According to financial statement submitted to Pakistan Stock Exchange (PSX) on Wednesday, the bank said that the income tax authorities had issued amended assessment orders for the tax years 2003 to 2018, […]
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UBL posts 48 percent increase in after tax profit
KARACHI: United Bank Limited (UBL) has announced 48 percent increase in after tax profit to Rs14.4 billion in nine-month period ended September 30, 2019. The net profit of the bank was Rs9.73 billion for the period January – September 2018, according to announcement on Wednesday. UBL also announced Rs11.77 earning per shares (EPS) for the […]
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UBL announces 52 percent increase in net profit in first half
KARACHI: United Bank Limited (UBL) has recorded 52 percent growth in its net profit for first half ended June 30, 2019. According to financial results for the period January – June 2019 shared with Pakistan Stock Exchange (PSX), the bank announced Rs9.54 billion profit after tax for the first half ended June 30, 2019 as […]
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UBL completes winding up New York Branch
KARACHI: United Bank Limited (UBL) has completed winding up of its New York Branch following the agreement was terminated by Federal Reserve Bank of New York (FRBNY), a statement said on Friday. In a notices sent Pakistan Stock Exchange (PSX), the bank said that further to the disclosure made on January 29, 2019 regarding the […]
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UBL decides sale of its Tanzania operation for $3.96 million
KARACHI: United Bank Limited (UBL) has decided to sale of its Tanzania operation at the sale price of $3.96 million to Exim Bank Tanzania Limited. It was decided at the the Annual General Meeting of UBL, which has approved winding up UBL Bank (Tanzania) Limited after accepting letter of intent from Exim Bank Tanzania Limited […]
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