KARACHI, Feb 21: United Bank Limited (UBL) announced on Tuesday unconsolidated earnings of Rs15.5 billion for the year ended December 31, 2011, an increase of 39 per cent year-on-year basis.

The bank announced final cash dividend of Rs6 per share taking the cumulative dividend for the year to Rs7.5 per share, while it did not announce any bonus issue.

JS Research in its report regarding the results of UBL said surprisingly in the 4th quarter, the bank reported a growth 7 per cent quarter-on-quarter jump, with profits of Rs4.5 billion (eps Rs3.71).

Key highlights of results include 16 per cent rise in net interest income in 2011 on rising yields and earning assets, 26 per cent increase in non-interest income on higher fee and other income and 9 per cent decline in provisioning expenses mainly led by lower provisions in the 4th quarter.