KARACHI, July 28: Two major banks, United Bank Limited and Habib Bank Limited unveiled financial figures for the second quarter (April-June) and the six months (Jan-June) 2008, on Monday.

UBL posted (consolidated) profit after tax (PAT) amounting to Rs5,859 million, which compared with Rs5,777 million reported by the bank in the corresponding six months of the previous year. Earning per share (eps) stood at Rs5.73 and Rs5.67.

The bank declared interim cash dividend for the year 2008 at Rs1.50 per share. Net mark-up/return/interest income of the bank increased to Rs13.5 billion, from Rs12.2 billion in the Jan-June period of 2007.

Net provision against non-performing loans and advances jumped to Rs1.950 billion, from Rs309 million in the corresponding six months of 2007. The April-June PAT at UBL amounted to Rs2,657 million, up from Rs2,569 million in the same time last year.

HBL reported profit after tax at Rs7,498 million for Jan-June 2008 and Rs3,230 million for April-June, compared with PAT at Rs6,620 million for the six months of 2007 and three months April-June at Rs3,326 million. Eps stood at Rs9.75 and Rs8.67 for the six months of ’08 and ’07, respectively.

HBL did not declare an interim payout. The bank earned higher mark-up/return/interest income at Rs34.4 billion for the latest six months compared to Rs28.2 billion in the same time last year. Provisions and write-offs amounted to Rs1.25 billion, compared with Rs619 million in the same time last year.

Analyst Tariq Choudhry at Elixier Securities said that in spite of healthy results for the 2nd Qtr, UBL failed to inspire a buy interest at the market, whereas HBL results were lower owing to higher provisioning costs. The results of both the banks received cool investor response at the market, where the stock in UBL dropped by Rs4 to close at Rs76.19 on Monday.

HBL stock lost Rs9.37 and ended at Rs178.13.