Karachi, United Bank Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Dubai on February 19, 2018.
The agenda of the meeting was discussion of Unconsolidated and consolidated profit and loss account for year ended December 31, 2017 which portrayed a profit of Rs. 25,421,232 and Rs. 26,196,589 with earnings per share 20.77 and 21.39 basic and diluted respectively.
Further, 40% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from March 24, 2018 to March 31, 2018 (both days inclusive).
United Bank Limited is incorporated in Pakistan and is engaged in the business of commercial banking and other related services. The foundations of the bank are developed under the Banking Companies Ordinance, 1962. The bank is responsible for accepting the deposits of money on current accounts and withdrawal by cheque, draft or order. The registered office of the bank is located at Islamabad. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan.
The global depository receipts of the bank are on the list of the UK Listing Authority and the London Stock Exchange Professional Securities Market. The subsidiaries are located in Switzerland, UK and Tanzania. United Bank AG Zurich, UBL Funds Managers and United Executors and Trustees Company Limited are also the subsidiaries of the bank. The associate companies include UBL Insurers Limited and Oman United Exchange Company LLC.
The products of the bank are UBL Click N Bank, UBL Tezraftaar, UBL Click N Remit, UBL Tezraftaar Account Services, NRP Direct and UBL TezraftaarPardes Card for the customers. The bank is also provides global remittance facilities to its customers.
The symbol “UBL” is being used by the stock exchanges for the shares of United Bank Limited.