Karachi, January 31, 2024 – The State Bank of Pakistan (SBP) has taken stern action against United Bank Limited (UBL), imposing a regulatory penalty amounting to Rs 140.69 million for alleged violations of regulatory instructions throughout the calendar year 2023.
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UBL Continues Legal Battle Against SBP’s Rs 4.09 Billion Penalty Since 2016
Karachi, November 7, 2023 – United Bank Limited (UBL) has been embroiled in a legal dispute with the State Bank of Pakistan (SBP) since 2016 over a penalty totaling Rs 4.09 billion.
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UBL Announces Massive 126% Profit Growth in Third Quarter of 2023
Karachi, October 25, 2023 – United Bank Limited (UBL), one of Pakistan’s leading financial institutions, has reported a staggering 126 percent year-on-year (YoY) profit growth in the third quarter of 2023, ending on September 30.
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United Bank to Establish Exchange Company and Sell Stakes in UNBL UK
Karachi, September 12, 2023 – In a strategic move, the board of directors at United Bank Limited (UBL) has given their unanimous approval to establish an exchange company and sell shares in United National Bank Limited UK (UNBL UK).
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UBL Reports Over Fourfold Surge in Quarterly Net Profit
Karachi, July 19, 2023 – United Bank Limited (UBL), one of Pakistan’s largest banks, has witnessed a remarkable over fourfold surge in net profit for the quarter ending June 30, 2023.
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SBP slaps monetary penalty on United Bank for regulatory violations
The State Bank of Pakistan (SBP) has recently taken disciplinary action against United Bank Limited (UBL) for violating various regulatory provisions.
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United Bank posts highest-ever quarterly profit in 1QCY23
United Bank Limited (UBL) has reported the highest-ever quarterly profit in the first quarter of 2023, with consolidated earnings of Rs11.62 per share, up 53 percent year on year and 9 percent quarter on quarter.
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UBL declares over Rs32 billion profit after tax for CY22
KARACHI: United Bank Limited (UBL) on Wednesday declared Rs32.06 billion as profit after tax for the year ended December 31, 2022.
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Pakistani bank penalized for frivolous litigation
ISLAMABAD: A Pakistani commercial bank has been penalized by the country’s president for filing frivolous representation.
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UBL announces 18% decline in net profit on huge tax payment
KARACHI: United Bank Limited (UBL) has posted 18 per cent decline in net profit to Rs18.76 billion for the nine months period ended September 30, 2022.
The profit after tax of the bank was Rs22.76 billion in the same months of the last year, according to financial results of the bank submitted to the Pakistan Stock Exchange (PSX).
Bank has declared earnings per share for the period at Rs15.33 as compared with EPS of Rs18.59 in the nine months period ended September 30, 2021.
The decline in net profit may be attributed to massive surged in payment of income tax during the period. The bank paid an amount of Rs31.89 billion for the period January – September 2022 when compared with Rs16.56 billion in the same period of the last year.
Board of directors of the bank met on Wednesday October 19, 2022 to approve the financial results for the nine months ended September 30, 2022. The board approved an interim cash dividend for the nine months ended September 30, 2022 at Rs4 per share i.e. 40 per cent. This is in addition to interim dividend already paid at Rs9 per share i.e. 90 per cent.
According to the financial results, the bank recorded an increase in net mark-up/interest income to Rs72.77 billion during first nine months of the current year as compared with Rs53.68 billion in the same months of the last year.
Total non mark-up / interest income also increased to Rs22.12 billion as against Rs17.28 billion. Out of non mark-up/interest income the bank made huge gain of Rs7.63 billion as foreign exchange income during first nine months of the current year as compared with Rs2.56 billion in the same period of the last year.
Total income of the bank rose to Rs94.89 billion when compared with Rs70.97 billion.
Operating expenses of the bank grew to Rs37.77 billion from Rs31.2 billion. The bank recorded profit before tax at Rs50.65 billion during January – September 2022 as compared with Rs39.32 billion in the same period of the last year.