UBL declares profit of over Rs 27m

UBL announced its results for the Financial Year ended December 31, 2016, at its 207th meeting held on Friday, February 17, 2017. It was intimated that the company declared a final cash dividend of Rs 4/share i.e 40 % for the year ended December 31, 2016. This is in addition to the previously paid interim dividend of Rs 9/share (90%).

The Net Interest Income (NII) stood at Rs 57,042,528 for the year as opposed to Rs 55,841,770 for the FY15. This represents an increase of Rs 1,200,758 (or an increase of 2pc on a Y-o-Y basis).

The profit after taxation (PAT) clocked to Rs 27,730,112 for the FY16 as opposed to Rs 25,727,149 for the previous year.

The bank’s stock price continues to remain in the red following the release of the annual results.

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