Thursday, November 14, 2019

UBL earning expects 46 percent drop during CY18

Featured

Trump said: Sondland is great American now President’s famous ‘U-turn’

President Donald Trump has a history of distancing himself from associates who have found themselves in legal trouble or...

Babri mosque: Indian Supreme Court ruled in favor of Hindus in a dispute over a religious position with Muslims

India's Supreme Court on Saturday ruled in favor of a Hindu group in a long-running legal battle over a...

France Visa: New point-based skilled immigrant program to be enforced by summer 2020

France will introduce new point-based skilled immigrant program (France Visa), will come to force by summer 2020. French government...
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
UBL will be announcing its CY18 financial result on February 20th, 2019. The bank to post earnings of Rs 14 billion (Earning per share of Rs 11.47) in CY18, down by 46% YoY.

On a sequential basis we expect an uptick in earnings of 21% QoQ attributable to higher fee income, dividend income and slight jump in NII.

Profitability of the bank during the year has faced a severe dent on account of a Rs 8,847 million one-off charge in lieu of the Honorable Supreme Court’s decision on the pension liability case.

Ex-pension liability it is expected that the earnings downturn of  26% YoY.

Earnings during the year have faced severe contraction also because of heavy provisioning expenses (Analysts expect Rs 10.8 billion cumulatively for CY18) on the overseas loan book (primarily the UAE book which accounts for 75% of international advances).

Benefit of the rate hikes by the SBP has not particularly come through for the bank as expected stagnant NII during CY18 primarily owing to its high PIB base (currently 20.4% of total assets).

Furthermore, analysts expect a cash payout of Rs 2.00 per share during 4Q, taking total dividend for the year to Rs 10.00 per share.

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Latest News

Trump’s removal measures: US Poll reveals support for 50 percent of Americans to the House of Representatives

The Politico Foundation released the results of a US Poll in conjunction with Trump's impeachment measures, revealing that 81%...

New UK Guidelines on EU Citizens residence

Britain is threatening to deport EU citizens if they do not apply in time for a new immigration status after Britain leaves the bloc...

US appeals court upholds decision to disclose Trump’s financial records

Trump's financial records: A US appeals court said on Wednesday it would not review an October decision ordering President Donald Trump's accounting firm to...

Ukrainian president offers 10 percent bonus for bribery and corruption reporting

Ukrainian President Volodymyr Zelensky has signed a law to pay 10 percent of confiscated money to those reporting corruption-related crimes to the authorities. The Ukrainian...

Morales condemns US recognition of the new government in Bolivia

Bolivia's former president, Evo Morales on Wednesday denounced the United States' recognition of his country's self-proclaimed "de facto" government since he left the country. The...
- Advertisement -

Related News