United Bank Limited (UBL) & The Hub Power Company Limited (HUBC) yesterday announced their CY15 and 1HFY16 financial results respectively. In today’s Value Seeker we present result review of the same.

UBL – CY15 EPS at 21.36/sh up 12%YoY

For CY15 United Bank Limited (UBL) posted earning of Rs27.0bn (EPS Rs21.36) up 12%YoY compared to Rs24.0bn (EPS Rs19.32) for same period last year.

The board also announced a final interim cash dividend of Rs4.0/share for the 4th quarter in addition to interim cash dividends of Rs9.0/share announced earlier thus taking the total dividend for the CY15 Rs13.0/share, compared to Rs11.50/share the year before.

On sequential basis UBL posted earnings of Rs6.5bn (EPS Rs5.16) for 4th quarter of CY15 down 7%QoQ compared to Rs7.0bn (EPS Rs5.58) for the 3rd quarter.

During CY15 interest income rose by 14%YoY to clock at Rs97.5bn compared to Rs85.7bn a year earlier, while interest expense rose by mere 2%YoY.

For CY15 non interest income increased by 11%YoY to clock at Rs23.6bn on account of higher fees/commission income and capital gains on sale of securities, compared to Rs21.3bn for the same period last year.

However, UBL booked hefty provisions of Rs3.8bn up 186%YoY against their loans and investments portfolio compared to Rs1.3bn a year earlier.

By: Invest Capital Market Limited