KARACHI - UBL declared profit before tax (PBT) of Rs 15.8 billion for the quarter ended March 31, 2022, which represents an increase of 30% in the bottom line. Earnings per share (EPS) was measured at Rs. 7.78 (Q1’21: Rs. 6.05). The bank maintained the healthy payouts to its shareholders with the first dividend of the year declared at Rs 5.0 per share. UBL’s capital base remains strong as the capital adequacy ratio (CAR) stood at 21.7% as at Mar’22, an excess of 9.2% over regulatory minimum requirements.
The bank’s gross revenues stood at Rs. 28.3 billion, growing by 25%, driven by the buildup in the deposit base over last year, healthy loan growth and well positioned investment portfolio. Non-markup income was recorded at Rs. 6.8 billion for Q1’22, up 17% as all major fee based revenues depicted a solid pick up in business with strong growth in foreign exchange flows. The cost to income ratio further improved to 42% from 44% last year. Provisioning expense remained controlled with enhanced risk vigilance and strong focus on recoveries across both domestic and international.
UBL remains one of largest private banks in Pakistan with a branch network of 1,340 branches spread across both urban and rural geographies and 1,439 ATMs across the country. Domestic deposits averaged Rs. 1.5 trillion for Q1’22, with strong growth of 11% in current accounts and a very profitable CASA ratio of 88%. The bank’s Non-Fund Income (NFI) was reported at Rs. 6.8 billion for Q1’22, contributing 24% to total gross revenues. Fee revenues of Rs. 3.9 billion were earned in Q1’22, with an increase of 29%, as strong momentum was witnessed across all major businesses. The bank remains the preferred partner to overseas Pakistanis who continue to place their trust in UBL. As a result, the bank recorded a market share of over 21% within the home remittances space with commission income of Rs. 448 million earned in Q1’22. The nank also maintained its market presence within the bancassurance business as commission income was recorded at Rs. 479 million in Q1’22, with strong growth of 26%.
UBL Ameen’s branch network stands at 145 branches and is further supported by 197 Islamic Banking Windows (IBWs) within commercial branches. UBL Ameen’s deposit base closed at Rs. 158 billion at Mar’22, growing by 13% over Dec’21. Islamic advances continue to grow as the loan book stood at Rs. 67 billion at Mar’22, an increase of 52% over Dec’21. UBL continues to grow in its intermediation role within the economy, as performing advances averaged Rs. 629 billion in Q1’22, a strong growth of 17%.
The bank’s gross revenues stood at Rs. 28.3 billion, growing by 25%, driven by the buildup in the deposit base over last year, healthy loan growth and well positioned investment portfolio. Non-markup income was recorded at Rs. 6.8 billion for Q1’22, up 17% as all major fee based revenues depicted a solid pick up in business with strong growth in foreign exchange flows. The cost to income ratio further improved to 42% from 44% last year. Provisioning expense remained controlled with enhanced risk vigilance and strong focus on recoveries across both domestic and international.
UBL remains one of largest private banks in Pakistan with a branch network of 1,340 branches spread across both urban and rural geographies and 1,439 ATMs across the country. Domestic deposits averaged Rs. 1.5 trillion for Q1’22, with strong growth of 11% in current accounts and a very profitable CASA ratio of 88%. The bank’s Non-Fund Income (NFI) was reported at Rs. 6.8 billion for Q1’22, contributing 24% to total gross revenues. Fee revenues of Rs. 3.9 billion were earned in Q1’22, with an increase of 29%, as strong momentum was witnessed across all major businesses. The bank remains the preferred partner to overseas Pakistanis who continue to place their trust in UBL. As a result, the bank recorded a market share of over 21% within the home remittances space with commission income of Rs. 448 million earned in Q1’22. The nank also maintained its market presence within the bancassurance business as commission income was recorded at Rs. 479 million in Q1’22, with strong growth of 26%.
UBL Ameen’s branch network stands at 145 branches and is further supported by 197 Islamic Banking Windows (IBWs) within commercial branches. UBL Ameen’s deposit base closed at Rs. 158 billion at Mar’22, growing by 13% over Dec’21. Islamic advances continue to grow as the loan book stood at Rs. 67 billion at Mar’22, an increase of 52% over Dec’21. UBL continues to grow in its intermediation role within the economy, as performing advances averaged Rs. 629 billion in Q1’22, a strong growth of 17%.
