KARACHI: Net income of United Bank Ltd for April-June amounted to Rs12.7 billion, up 379 per cent from a year ago, the commercial lender told investors on Wednesday.
However, earnings on a consolidated basis went down 11pc from the preceding three-month period. Arif Habib Ltd attributed the annual rise in earnings to a jump in the bank’s total income and reversals in provisioning.
The bank also announced a cash dividend of Rs11 per share, taking the total pay-out for the first half of 2023 to Rs22 per share. “This marks the highest-ever profit and cash pay-out of the bank in the first half,” the brokerage added.
Meanwhile, Pakistan Telecommunication Company Ltd said on Wednesday its net loss on a consolidated basis remained Rs2.8bn in April-June versus a net loss of Rs1.4bn a year ago.
On a half-yearly basis, the net loss was Rs8.5bn in the first six months of 2023 as opposed to Rs3bn a year ago.
The company didn’t announce any pay-out.
Published in Dawn, July 20th, 2023
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