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UBL earns Rs4.5bn profit |
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Dawn February 19, 2004: |
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KARACHI, Feb 18: United Bank Limited earned Rs4.5 billion
pre-tax profit in 2003, registering 63 per cent rise over the
previous year. The bank will pay a dividend of 22.5 per cent
of issued capital - the first such payout to its government
and private share holders in decades, says a press release.
The decision was taken at a recent meeting of its board of directors
to approve the annual accounts of the bank for the year ended
December 2003. "This represents the first full year operations
since the handover of the bank's management to private shareholders
in October 2002."
"Over the year the bank
has achieved 45pc growth in performing advances. Deposits have
grown by 17pc and remittances by 18pc," says the release
without giving figures. |
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