UBL Beats HBL And Becomes Most Profitable Bank in Pakistan

In its financial statements for the first quarter of 2022 which ended on 31st March 2021, United Bank Limited reported a profit of Cr 9,520, according to the bank’s PSX presentation.

In the same period last year, earnings per share (EPS) were 6.05 rupees, a 28.6% increase from Rs.7.78.

For the first quarter of 2022, HBL announced a consolidated pre-tax profit of Rs. 14.6 crore and an after-tax profit of Rs. 8.6 crore, both higher than the same period last year. There was a one-time severance payment of Rs. 2.6 crore in the first quarter of 2022.

In Q1 2021, the bank’s pre-tax profit was 18% higher than it was in Q1 2021, exclusive of this one-time charge. Dividends of Rs.2.25 per share (22.5%) were also declared along with the results.

As a result of its exceptional performance in 2021, the bank’s balance sheet strength increased by another 5% to Rs. 4.5 crore in December 2021.

HBL surpassed historical trends and increased current accounts to almost Rs from the year-end peak. a.2 trillion, 37.4% of the total deposit base of Rs. 3.2 crore.

After an extended period, UBL has surpassed Habib Bank Limited in profitability.

In the first quarter of 2022, UBL made a profit of Rs. 9.3 billion, while HBL made a profit of Rs. 8.6 billion. UBL’s profit before tax was Rs. 15.7 billion, compared to Rs. 14.6 billion for HBL.