UBL declared Profit Before Tax (PBT) of Rs. 50.7 billion for the nine months ended September 30, 2022, a stellar growth of 29% over last year. Earnings per share (EPS) stood at Rs. 15.33 (9M’21: Rs. 18.59), with strong growth in EPS from Rs. 1.91 in Q2’2022 to Rs. 5.64 in Q3’2022.
The Bank remains well capitalized for future business expansion with a Capital Adequacy Ratio (CAR) of 18.4%, which is around 7% in excess of the regulatory minimum requirements. The Bank declared dividends of Rs. 4.0 per share for the third quarter of 2022, taking the overall dividend distribution to Rs. 13.0 per share for the nine months ended September 30, 2022.
Gross revenues were reported at Rs. 94.9 billion for 9M’22, with an increase of 34% over last year. Net mark-up income grew significantly by 36%, as a well-positioned loan and investment portfolio repriced well during the year.
Maintaining a focus on low-cost deposit mobilization remained a priority across the network resulting in an efficient cost of deposits despite a rising rate environment. A growth of 13% in the current account portfolio along-with the expansion in the core customer base, enabled the Bank to improve its average current to total deposits ratio to 44.3% from 42.0% last year.