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.
UBL records 25% growth in the revenue top line
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.
The physical network is well supported by the industry’s leading Digital Banking services and our branchless banking proposition UBL Omni which serves even in the remotest locations across Pakistan. Our strength is an increasing and diverse customer base nationwide, as we continue to build on our agenda of financial inclusion and providing access to finance across all segments of society.
