UBL declares 26% growth in annual profit

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 also announced Rs15.63 as earning per share for the year as compared with EPS of 12.44 declared in the last year.

The interest income of the bank registered 36 percent increase to Rs153.67 billion in calendar year 2019 as compared with Rs113.9 billion in the preceding year.

However, total non-markup come at Rs61.77 billion in 2019 as compared with Rs56.23 billion in the last year.

Total income of the bank after including non-mark up income rose to Rs83.45 billion in 2019 as compared with Rs81.25 billion in the preceding year.

Operating expenses of the bank have increased to Rs40.21 billion in 2019 as compared with Rs38.82 billion in preceding year.

The bank contributed income tax to the tune of Rs15.1 billion in the calendar year 2019 as compared with Rs9.74 billion in the preceding year.

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