Karachi, February 25, 2021: UBL announced its CY20 financial result on Feb-25th, wherein the bank recorded a PAT of PKR 20,789 million as compared to PKR 19,048 million in CY19, up by 9 percent YoY. EPS was clocked in at PKR 17.12. Bank also dividend of PKR 9/share, taking the cumulative dividend PKR 12 for the year.
Interest earned also diminished by 1 percent YoY due to cut in the policy rate during the year by 625bps. Interest expenses slumped by 16 percent YoY. Resulting, net Interest Income amplifying by 22 percent YoY.
The total non-interest income dwindled by 20 percent YoY, while Fees and commission income remained the major contributor, by making up 66 percent of the total non-interest income. Followed by the foreign exchange that contributed 20 percent to non-interest income.
Provisioning for the year was recorded at PKR 17.2 billion up by 1.36x.
