UBL (United Bank Limited) published its financial statements for the first quarter of 2022, which ended 31st March 2021, showing the bank reporting a profit of Cr 9,520, according to the bank’s PSX presentation.
This translated into earnings per share (EPS) which recorded Rs.7.78 and rose by 28.6%, versus earnings per share of 6.05 rupees in the same period last year.
HBL declared a consolidated pre-tax profit of Rs. 14.6 crore for the first quarter of 2022 and an after-tax profit of Rs. 8.6 crore, both higher than the same period last year. The results of the first quarter of 2022 include a one-time severance payment of Rs. 2.6 crore.
Excluding the impact of this one-time charge, the bank’s pre-tax profit is 18% higher than in Q1 2021. Along with the results, the bank declared a dividend of Rs.2.25 per share (22.5%).
After an exceptional performance in 2021, the bank continued to build on its growth story, with December 2021 balance sheet strength increasing by another 5% to Rs. 4.5 crore.
HBL surpassed historical trends and increased current accounts to almost Rs from the year-end peak. a.2 trillion, 37.4% of the total deposit base of Rs. 3.2 crore.
After an extended period, UBL has surpassed Habib Bank Limited in profitability.
In the first quarter of 2022, UBL made a profit of Rs. 9.3 billion, while HBL made a profit of Rs. 8.6 billion. UBL’s profit before tax was Rs. 15.7 billion, compared to Rs. 14.6 billion for HBL.
