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Tuesday, November 26, 2024

Home Business Key takeaways of UBL 1QCY20 results

Key takeaways of UBL 1QCY20 results

by News desk
April 28, 2020
in Business

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Zubair Yaqoob

Karachi

United Bank Limited (UBL) Management held a conference call on Monday to discuss the bank’s performance post release of 1QCY20 results and its strategy going forward. The briefing was led by the bank’s CFO, Aameer Karachiwalla and Head of Investor Relations, Arif Saifie. Below are the key takeaways from the discussion: UBL announced earnings 1QCY20 at Rs 4.9bn (EPS: Rs. 3.98), depicting an uptick of 21% YoY and stagnant earnings QoQ. While NII has shown impressive growth and above industry trend, heavy provisioning has returned once again for the bank. The bank announced a dividend lower than expectation of PKR 2.50/share for the quarter.