Oct 29

SBP slaps Rs280 million penalty on National Bank

KARACHI: The State Bank of Pakistan (SBP) has slapped a heavy monetary penalty of over Rs280 million on the National Bank of Pakistan (NBP) for violating instructions pertaining to Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT). The central bank imposed a monetary penalty on four banks during the quarter ended September 30, 2021. […]

by Anjum Shah

United Bank earns Rs39.3 billion as profit before tax

Oct 26

Money & Banking

United Bank earns Rs39.3 billion as profit before tax

KARACHI: United Bank Limited (UBL) has said it continued its strong momentum in 2021 as the bank earned Profit Before Tax (PBT) of Rs39.3 billion for the period ended September 30, 2021, strong growth of 49 per cent year on year, with earnings per share (EPS) of Rs. 18.6 (nine months of 2020: Rs. 13.1). […]

by Hamza Shah

UBL declares 42% growth in net profit in nine months

Oct 20

Corporate, Money & Banking

UBL declares 42% growth in net profit in nine months

KARACHI: United Bank Limited (UBL) has posted 42 per cent growth in its profit after tax for nine-month period ended September 30, 2021. The board of directors of the bank on Wednesday approved the financial results for the period January – September 2021. The bank declared net profit of Rs21.87 billion for the period under […]

by Faisal Shah

UBL declares Rs7.6 billion profit for second quarter

Aug 9

Money & Banking

UBL declares Rs7.6 billion profit for second quarter

KARACHI: United Bank Limited (UBL) on Monday announced financial results for second quarter ended June 30, 2021 and announced Rs7.6 billion for the period. UBL announced its 2QCY21 result today and posted a profit after tax of PKR 7.6 billion for 2QCY21 translating to an EPS of PKR 6.2, up by 25 per cent YoY. […]

by Hamza Shah

SBP imposes Rs96 million as monetary penalties on top banks

Apr 23

Money & Banking

SBP imposes Rs96 million as monetary penalties on top banks

KARACHI: The State Bank of Pakistan (SBP) has imposed around Rs96 million as monetary penalties on top banks for violating regulatory instructions, including instructions related to anti-money laundering (AML) and combating financing of terrorism (CFT), a notification said on Friday. The SBP imposed these penalties during quarter ended March 31, 2021 on Habib Bank Limited, […]

by admin

United Bank declares 46pc growth in net profit during first quarter

Apr 22

Corporate, Money & Banking

United Bank declares 46pc growth in net profit during first quarter

KARACHI: United Bank Limited (UBL) on Thursday declared 46 percent growth in its net profit for the quarter ended March 31, 2021 due to significant decline in provisioning and write-offs. The bank declared Rs7.4 billion profit after tax for the first quarter (January – March) of calendar year 2021 as compared with Rs5.06 billion in […]

by admin

UBL declares Rs20.9bn as annual after tax profit

Feb 26

Corporate, Money & Banking

UBL declares Rs20.9bn as annual after tax profit

KARACHI: United Bank Limited (UBL) on Thursday announced its financial results for the year ended December 31, 2020. The bank made provisioning and write-offs to the tune of Rs16.77 billion or 104 percent higher which trimmed its annual profit growth to 9.25 percent. The bank announced an amount of Rs20.9 billion as profit after tax […]

by admin

UBL makes Rs5.45 billion quarterly provisioning, write-offs

Oct 26

Corporate, Money & Banking

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) UBL submitted its financial results to Pakistan Stock Exchange (PSX) on Monday and declared 4.11 percent decline in after tax profit to Rs4.66 billion for the quarter ended September 30, 2020 as compared […]

by admin

UBL continues de-risking strategy in international operations

Mar 4

Money & Banking

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. According to Director’s Report for the year 2019, it said that the economic climate remained challenging within the GCC […]

by Anjum Shah

UBL declares 26% growth in annual profit

Feb 19

Corporate, Money & Banking

UBL declares 26% growth in annual profit

KARACHI: United Bank Limited has declared 26 percent growth in annual profit for calendar year 2019 owing to significant increase in net mark-up income. According to financial results for calendar year 2019 released on Wednesday, the bank declared Rs19.13 billion after tax profit as compared with Rs15.22 billion profit in the preceding year. The bank […]

by Anjum Shah