3rd Quarter Results of United Bank Limited

United Bank Limited

16 October 2026

 

                                    Secretary's Department

        UBL/BOD-263/PSX/Results/26

             16 October 2026

The General Manager,                  

Pakistan Stock Exchange Limited, 

Stock Exchange Building,

Stock Exchange Road,                                                                                                                                              

Karachi

Dear Sir,

Financial Results for the 3^rd Quarter Ended 30 September 2026

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 263^rd meeting held on Friday, 16 October 2026 at Dubai at 12:00 p.m. (UAE Time), inter-alia, recommended the following:

 (i) CASH DIVIDEND

An Interim Cash Dividend for the 3^rd Quarter ended 30 September 2026 at Rs.8/- per share i.e. 160%.  This is in addition to interim Dividend already paid at Rs.16/- per share i.e.320%.  

(ii) BONUS SHARES

--- NIL ---

(iii)         RIGHT SHARES

--- NIL ---

(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION

--- NIL ---

 (v)  ANY OTHER PRICE-SENSITIVE INFORMATION

--- NIL ---

The above entitlement of Dividend will be paid to the shareholders whose names will appear in the Register of Members (with their IBAN details) on Thursday, 22 October 2026.   

The Share Transfer Books of UBL will remain closed on Friday, 23 October 2026. Transfers received at the office of our Share Registrar, M/s. THK Associates (Pvt.) Limited, Plot No. 32-C, Jami Commercial Street-2 D.H.A. Phase-VII Karachi-75400 at the close of business on Thursday, 22 October 2026 will be treated in time for the purpose of payment of this interim cash dividend.

Following documents are attached as:

Annexure-A (Unconsolidated)

1.   Standalone Statements of Financial Position

2.   Standalone Statements of Profit and Loss

3.   Standalone Statement of Changes in Equity

4.   Standalone Statements of Cash Flows

Annexure-B (Consolidated)

5.   Consolidated Statements of Financial Position

6.   Consolidated Statements of Profit and Loss

7.   Consolidated Statement of Changes in Equity

8.   Consolidated Statements of Cash Flows

 The Quarterly Financial Statements (Quarterly Report) of the Bank for the 3^rd Quarter ended 30 September 2026 will be transmitted through PUCARS separately, within stipulated time.

Yours faithfully,  

Sd/-

Shoukat Ali

Company Secretary

 C.C. to:

1)   London Stock Exchange.

2)   The Commissioner, Enforcement & Monitoring Division, Securities and Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Islamabad.

Annexure A-1
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT SEPTEMBER 30, 2026
		(Un-audited)		(Audited)
		September 30, 2026		December 31, 2025
		-------------- (Rupees in '000) -----------
ASSETS
Cash and balances with treasury banks		718,958,206		547,646,979
Balances with other banks		80,556,147		57,179,677
Lendings to financial institutions		27,798,345		31,574,547
Investments		9,534,683,747		9,951,054,650
Advances		1,721,694,040		1,369,366,395
Property and equipment		209,584,952		120,546,171
Right-of-use assets		66,532,769		36,198,112
Intangible assets		54,978,953		58,353,831
Deferred tax assets		-		-
Other assets		500,429,523		448,273,083
		12,915,216,682		12,620,193,445
LIABILITIES
Bills payable		97,961,245		58,631,844
Borrowings		5,433,903,453		6,530,014,720
Deposits and other accounts		6,501,449,409		5,168,424,418
Lease liabilities		70,569,169		38,873,814
Subordinated debt		10,000,000		10,000,000
Deferred tax liabilities		66,326,282		135,943,237
Other liabilities		213,982,492		179,573,846
		12,394,192,050		12,121,461,879
NET ASSETS		521,024,632		498,731,566
REPRESENTED BY:
Share capital		12,521,239		12,521,239
Reserves		147,528,250		138,517,698
Surplus on revaluation of assets - net		138,304,436		173,025,714
Unappropriated profit		222,670,707		174,666,915
		521,024,632		498,731,566
CONTINGENCIES AND COMMITMENTS
ANNEXURE - A-2 UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 July - September 2026 July - September 2025 January - September 2026 January - September 2025 ----------------------------- (Rupees in '000) ---------------------------------- Mark-up / return / interest earned 355,220,481  297,224,588 1,020,235,042 861,218,417 Mark-up / return / interest expensed 261,918,935 205,250,937 737,237,164 593,822,518 Net mark-up / interest income 93,301,546 91,973,651 282,997,878 267,395,899 Non mark-up / interest income Fee and commission income  7,720,018  6,754,687  22,807,268 21,259,706 Dividend income  69,610  298,810  627,084 1,732,330 Foreign exchange income  8,582,603  4,836,577  20,809,290 12,280,199 Gain / (loss) from derivatives  744,994  (1,313)  742,618 (1,255,891) Gain / (loss) on securities - net  5,526,853  902,623  47,919,003 9,049,933 Capital gain on derecognition of financial assets measured at amortised cost  -    -    -   - Other income  256,450  252,267  1,057,162 740,231 Total non mark-up / interest income 22,900,528 13,043,651 93,962,425 43,806,508 Total Income 116,202,074 105,017,302 376,960,303 311,202,407 Non mark-up / Interest expenses Operating expenses 51,981,267 30,372,033 136,054,839 88,858,478 Workers' Welfare Fund 1,350,727 1,450,463 4,827,787 4,365,567 Other charges 21,356 43,321 36,528 45,815 Total non mark-up / interest expenses 53,353,350 31,865,817 140,919,154 93,269,860 Profit before credit loss allowance 62,848,724 73,151,485 236,041,149 217,932,547 Credit loss allowance and write-offs - net (252,830) (822,101) (4,460,481) (4,711,348) Profit before taxation 63,101,554 73,973,586 240,501,630 222,643,895 Taxation 32,882,736 39,270,818 125,312,906 124,150,535 Profit after taxation 30,218,818 34,702,768 115,188,724 98,493,360 ------------------------------------- (Rupees) --------------------------------------- Earnings per share - basic and diluted 12.07 13.86 46.00 39.55

ANNEXURE A-3 (1 of 3) UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 Share capital Share Premium Capital Reserve - Exchange Translation Cash Flow Hedge Reserve Statutory reserve Surplus / (Deficit) on revaluation Unappropriated Profit Total Investments Property and Equipment Non-banking Assets                         ---------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------- Balance as at January 01, 2025 - as restated 12,241,797 - 59,803,954 - 54,930,877 40,190,955 38,453,449 1,146 111,955,818 317,577,996 Total comprehensive income for the nine months ended September 30, 2025 Profit after taxation for the nine months ended September 30, 2025 - - - - - - - - 98,493,360 98,493,360 Other comprehensive income - net of tax - - 1,059,096 - - 63,699,223 - - - 64,758,319 Total comprehensive income for the nine months ended September 30, 2025 - - 1,059,096 - - 63,699,223 -   -   98,493,360 163,251,679 Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (52,082) - 52,082 - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (2,627,840) - - 2,627,840 - Share issued under amalgamation 279,442 10,473,761 -   -   -   -   -   -   -   10,753,203 Transfer to statutory reserve - - - - 9,849,336 - - - (9,849,336) - Transactions with owners, recorded directly in equity Final cash dividend - December 31, 2024 declared subsequent to the year end at Rs. 11.0 per share - - -              - - - - - (13,465,977) (13,465,977) Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share - - - - - - - - (13,773,363)      (13,773,363) Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share - - - - - - - - (20,033,982) (20,033,982) - - - - - - - - (47,273,322) (47,273,322) Balance as at September 30, 2025 (Un-audited) 12,521,239 10,473,761 60,863,050              - 64,780,213 101,262,338 38,401,367 1,146 156,006,442 444,309,556 Continued on next pages ANNEXURE A-3 (2 of 3) UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 Share capital Share Premium Capital Reserve - Exchange Translation Cash Flow Hedge Reserve Statutory reserve Surplus / (Deficit) on revaluation Unappropriated Profit Total Investments Property and Equipment Non-banking Assets                         ---------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------- Total comprehensive income for the three months December 31, 2025 Profit after taxation for the three months ended December 31, 2025 - - - - - - - - 29,515,487 29,515,487 Other comprehensive income - net of tax - - (550,875) -   - 33,391,979 - - 12,099,401 44,940,505 Total comprehensive income for the three months ended December 31, 2025 - - (550,875) - - 33,391,979 - - 41,614,888  74,455,992 Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (19,632) - 19,632 - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (11,484) - - 11,484 - Transfer to statutory reserve - - - - 2,951,549 - - - (2,951,549) - Transactions with owners, recorded directly in equity Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share - - - - - - - - (20,033,982) (20,033,982) Balance as at December 31, 2025 (Audited) 12,521,239 10,473,761 60,312,175 -   67,731,762 134,642,833 38,381,735 1,146 174,666,915 498,731,566 Effect of Transition to EIR Method - net of tax     - - - - - - - - 315,991 315,991 Balance as at January 01, 2026 - as restated    12,521,239 10,473,761 60,312,175 -   67,731,762 134,642,833 38,381,735 1,146 174,982,906 499,047,557 Continued on next page ANNEXURE A-3 (3 of 3) UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 Share capital Share Premium Capital Reserve - Exchange Translation Cash Flow Hedge Reserve Statutory reserve Surplus / (Deficit) on revaluation Unappropriated Profit Total Investments Property and Equipment Non-banking Assets                         ---------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------- Total comprehensive income for the nine months ended September 30, 2026 Profit after taxation for the nine months ended September 30, 2026 - - - - - - - - 115,188,724 115,188,724 Other comprehensive income - net of tax - - (1,794,075) (714,245) - (55,800,092) 25,198,709 - - (33,109,703) Total comprehensive income for the nine months ended September 30, 2026 - - (1,794,075) (714,245) - (55,800,092) 25,198,709 -   115,188,724 82,079,021 Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (55,132) - 55,132 - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (4,064,763) - - 4,064,763 - Transfer to statutory reserve - - - - 11,518,872 - - - (11,518,872) - Transactions with owners, recorded directly in equity Final cash dividend - December 31, 2025 declared subsequent to the year end at Rs. 8.0 per share - - -                    - - - - - (20,033,982) (20,033,982) Interim cash dividend - March 31, 2026 declared at Rs. 8.0 per share - - -                    - - - - - (20,033,982) (20,033,982) Interim cash dividend - June 30, 2026 declared at Rs. 8.0 per share - - - - - - - - (20,033,982) (20,033,982) - - - - - - - - (60,101,946) (60,101,946) Balance as at September 30, 2026 (Un-audited) 12,521,239 10,473,761 58,518,100 (714,245) 79,250,634 74,777,978 63,525,312 1,146 222,670,707 521,024,632

ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026
	January -             September 2026		January - September 2025
	-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	240,501,630		222,643,895
Less: Dividend income	627,084		1,732,330
	239,874,546		220,911,565
Adjustments:
Depreciation on property and equipment	10,853,664		6,528,435
Depreciation on right-of-use assets	5,293,273		3,014,991
Depreciation on non-banking assets acquired in satisfaction of claims	16,160		29,853
Amortisation	5,425,821		833,959
Workers' Welfare Fund - charge	4,827,787		4,365,567
Provision for retirement benefits	1,752,041		1,364,137
Provision for compensated absences	92,435		109,575
Credit loss allowance / (Reversal) against loans and advances	(4,439,703)		(4,534,504)
Credit loss allowance / (Reversal) against off-balance sheet obligations - net	768,596		198,026
Credit loss allowance / (Reversal) for dimunition in value of investments	(744,361)		65,525
Credit loss allowance / (Reversal) against cash and balances with treasury banks	45,364		(122,115)
Impairment on fixed assets	160,218		-
Interest expense on lease liabilities against right-of-use assets	5,165,568		2,452,502
Gain / (loss) on sale of Ijarah assets - net	(5,623)		234
Gain on sale of property and equipment - net	(67,917)		(88,897)
Bad debts written off directly	102,383		58,036
Unrealised gain on revaluation of investments classified as FVPL	212,922		(42,667)
Credit loss allowance / (Reversal) against other assets - net	128,349		45,220
Other credit loss allowance / write-offs	68,939		183,670
	29,655,916		14,461,547
	269,530,462		235,373,112
(Increase) / decrease in operating assets
Lendings to financial institutions	3,776,202		(120,863,254)
Securities classified as FVPL	(55,281,906)		(208,564,550)
Advances	(348,375,967)		345,360,053
Other assets (excluding advance taxation)	(31,703,806)		(218,783,195)
	(431,585,477)		(202,850,946)
Increase / (decrease) in operating liabilities
Bills payable	39,329,401		(11,566,664)
Borrowings	(1,096,111,267)		868,740,628
Deposits and other accounts	1,333,024,991		2,128,578,212
Other liabilities	31,040,498		18,429,781
	307,283,623		3,004,181,957
	145,228,608		3,036,704,123
(Payments) / receipts on account of staff retirement benefits	(4,260,415)		628,616
Income taxes paid	(149,567,634)		(83,447,204)
Net cash flow generated from operating activities	(8,599,441)		2,953,885,535
	Continued on next page
ANNEXURE A-4 (2 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026	January -          June 2026		January - June 2025
	-------------- (Rupees in '000) --------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	1,029,072,659		(2,377,825,293)
Net investments in amortised cost securities	(665,780,297)		(213,820,407)
Net investments in subsidiaries	(8,000,000)		-
Net investments in associates	(7,785,083)		9,910
Cash acquired through business combination	-		15,198,229
Dividend income received	643,393		1,715,365
Investment in property and equipments and intangible assets	(74,625,453)		(94,585,879)
Sale proceeds from disposal of property and equipments	501,183		279,777
Sale proceeds from disposal of ijarah assets	16,217		10,360
Effect of translation of net investment in foreign branches	(1,794,075)		1,059,096
Net cash flow used in investing activities	272,248,544		(2,667,958,842)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets	(8,992,519)		(4,870,019)
Payment of sub ordinated debt	-		(1,998,400)
Dividend paid	(59,968,887)		(47,023,178)
Net cash flow used in financing activities	(68,961,406)		(53,891,597)
Increase / (decrease) in cash and cash equivalents	194,687,697		232,035,096
Cash and cash equivalents at the beginning of the period	608,273,234		367,534,705
Effect of exchange rate changes on cash and cash equivalents	(3,446,578)		2,179,452
	604,826,656		369,714,157
Cash and cash equivalents at the end of the period	799,514,353		601,749,253

ANNEXURE B-1

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT SEPTEMBER 30, 2026

	(Un-audited) September 30, 2026		(Audited) December 31, 2025
	----------------- (Rupees in '000) --------------
ASSETS
Cash and balances with treasury banks	720,058,742		548,709,327
Balances with other banks	80,782,151		57,279,049
Lendings to financial institutions	27,798,345		31,574,547
Investments	9,531,991,637		9,956,066,916
Advances	1,721,694,040		1,369,366,395
Property and equipment	210,001,301		120,927,227
Right-of-use assets	67,046,876		36,813,438
Intangible assets	55,318,046		58,690,656
Deferred tax assets	-		-
Other assets	501,220,208		449,087,109
	12,915,911,346		12,628,514,664
LIABILITIES
Bills payable	97,961,245		58,631,844
Borrowings	5,433,903,453		6,530,014,720
Deposits and other accounts	6,492,823,615		5,168,089,899
Lease liabilities	71,162,718		39,520,412
Subordinated debt	10,000,000		10,000,000
Deferred tax liabilities	66,178,459		136,299,736
Other liabilities	214,942,193		180,666,240
	12,386,971,683		12,123,222,851
NET ASSETS	528,939,663		505,291,813
REPRESENTED BY:
Share capital	12,521,239		12,521,239
Reserves	147,528,250		138,517,698
Surplus on revaluation of assets - net	138,268,096		173,003,893
Unappropriated profit	230,534,451		181,178,532
Total equity attributable to the equity holders of the Bank	528,852,036		505,221,362
Non-controlling interest	87,627		70,451
	528,939,663		505,291,813
CONTINGENCIES AND COMMITMENTS

ANNEXURE B-2

CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

				July - September 2026		July - September 2025		January - September 2026		January - September 2025
				------------------------------- (Rupees in '000) ---------------------------------
Mark-up / return / interest earned				355,225,641		297,235,579		1,020,253,501		861,251,119
Mark-up / return / interest expensed				261,915,861		205,251,701		737,230,985		593,838,387
Net mark-up / interest income				93,309,780		91,983,878		283,022,516		267,412,732
Non-mark-up / interest income
Fee and commission income				8,940,349		7,793,913		26,245,952		24,282,106
Dividend income				69,610		287,126		627,084		1,651,515
Foreign exchange income				8,802,193		5,027,596		21,610,915		12,875,535
Gain / (loss) from derivatives				744,994		(1,313)		742,618		(1,255,891)
Gain / (loss) on securities - net				5,533,791		902,623		47,886,559		9,049,933
Capital gain on derecognition of financial assets measured at amortised cost				-		-		-		-
Other income				246,988		238,025		1,025,509		693,482
Total non-markup / interest income				24,337,925		14,247,970		98,138,637		47,296,680
Total income				117,647,705		106,231,848		381,161,153		314,709,412
Non-mark-up / interest expenses
Operating expenses				52,766,438		31,034,398		138,283,357		90,688,043
Workers' Welfare Fund				1,365,654		1,468,158		4,870,952		4,411,327
Other charges				21,356		45,124		36,553		47,618
Total non-mark-up / interest expenses				54,153,448		32,547,680		143,190,862		95,146,988
Share of (loss) / profit of associates				(22,746)		161,065		(172,686)		766,500
Profit before credit loss allowance				63,471,511		73,845,233		237,797,605		220,328,924
Credit loss allowance and write-offs - net				(252,830)		(822,101)		(4,460,481)		(4,711,348)
Profit before taxation				63,724,341		74,667,334		242,258,086		225,040,272
Taxation				33,073,821		39,304,932		125,700,059		124,945,657
Profit after taxation				30,650,520		35,362,402		116,558,027		100,094,615
Attributable to:
Equity holders of the Bank				30,643,523		35,355,263		116,540,851		100,077,963
Non-controlling interest				6,997		7,139		17,176		16,652
				30,650,520		35,362,402		116,558,027		100,094,615
				--------------------------------------- (Rupees) ---------------------------------------
Earnings per share - basic and diluted				12.24		14.12		46.54		40.19

ANNEXURE B-3 (1 of 2)

CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	Share capital	Share Premium	Statutory Reserve	Capital Reserve - Exchange Translation	Cash Flow Hedge   Reserve	Surplus / (Deficit) on revaluation			Unappropriated Profit	Sub total	Non-controlling interest	Total
						Investments	Property and Equipment	Non-banking Assets
	-------------------------------------------------------------------------------------------------------------------------------- (Rupees in '000) --------------------------------------------------------------------------------------------------------------------------------
Balance as at January 01, 2025 - as restated	12,241,797	-	54,930,877	59,803,954	-	40,210,574	38,453,449	1,146	116,472,051	322,113,848	49,910	322,163,758
Total comprehensive income for the nine months ended September 30, 2025
Profit after taxation for the nine months ended September 30, 2025	-	-	-	-	-	-	-	-	100,077,963	100,077,963	16,652	100,094,615
Other comprehensive income - net of tax	-	-	-	1,059,096	-	63,670,854	-	-	-	64,729,950	-	64,729,950
Total comprehensive income for the nine months ended September 30, 2025	-	-	-	1,059,096	-	63,670,854	-	-	100,077,963	164,807,913	16,652	164,824,565
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(52,082)	-	52,082	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(2,627,840)	-	-	2,627,840	-	-	-
Transfer to statutory reserve	-	-	9,849,336	-	-	-	-	-	(9,849,336)	-	-	-
Shares issued under amalgamation	279,442	10,473,761	-	-	-	-	-	-	-	10,753,203	-	10,753,203
Transactions with owners for the nine months ended September 30, 2025, recorded directly in equity
Final cash dividend - December 31, 2024 declared subsequent to the year end at Rs. 11.0 per share	-	-	-	-	-	-	-	-	(13,465,977)	(13,465,977)	-	(13,465,977)
Interim cash dividend - March 31, 2025
declared at Rs. 11.0 per share	-	-	-	-	-	-	-	-	(13,773,363)	(13,773,363)	-	(13,773,363)
Interim cash dividend - June 30, 2025
declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
	-	-	-	-	-	-	-	-	(47,273,322)	(47,273,322)	-	(47,273,322)
Balance as at September 30, 2025 (Un-audited)	12,521,239	10,473,761	64,780,213	60,863,050	-	101,253,588	38,401,367	1,146	162,107,278	450,401,642	66,562	450,468,204
Total comprehensive income for the three months ended December 31, 2025
Profit after taxation for the three months ended December 31, 2025	-	-	-	-	-	-	-	-	29,921,920	29,921,920	3,839	29,925,759
Other comprehensive income - net of tax	-	-	-	(550,875)	-	33,378,908	-	-	12,103,749	44,931,782	50	44,931,832
Total comprehensive income for the three months ended December 31, 2025	-	-	-	(550,875)	-	33,378,908	-	-	42,025,669	74,853,702	3,889	74,857,591
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(19,632)	-	19,632	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(11,484)	-	-	11,484	-	-	-
Transfer to statutory reserve	-	-	2,951,549	-	-	-	-	-	(2,951,549)	-	-	-
Transactions with owners for the three months ended December 31, 2025, recorded directly in equity
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
Balance as at December 31, 2025 (Audited)	12,521,239	10,473,761	67,731,762	60,312,175	-	134,621,012	38,381,735	1,146	181,178,532	505,221,362	70,451	505,291,813
Effect of Transition to EIR Method - net of tax	-	-	-	-	-	-	-	-	315,991	315,991	-	315,991
Balance as at January 01, 2026 - as restated	12,521,239	10,473,761	67,731,762	60,312,175	-	134,621,012	38,381,735	1,146	181,494,523	505,537,353	70,451	505,607,804
							Continued on next page

ANNEXURE B-3 (2 of 2)

CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	Share capital	Share Premium	Statutory Reserve	Capital Reserve - Exchange Translation	Cash Flow Hedge   Reserve	Surplus / (Deficit) on revaluation			Unappropriated Profit	Sub total	Non-controlling interest	Total
						Investments	Property and Equipment	Non-banking Assets
	-------------------------------------------------------------------------------------------------------------------------------- (Rupees in '000) --------------------------------------------------------------------------------------------------------------------------------
Total comprehensive income for the nine months ended September 30, 2026
Profit after taxation for the nine months ended September 30, 2026	-	-	-	-	-	-	-	-	116,540,851	116,540,851	17,176	116,558,027
Other comprehensive income - net of tax	-	-	-	(1,794,075)	(714,245)	(55,814,611)	25,198,709	-	-	(33,124,222)	-	(33,124,222)
Total comprehensive income for the nine months ended September 30, 2026	-	-	-	(1,794,075)	(714,245)	(55,814,611)	25,198,709	-	116,540,851	83,416,629	17,176	83,433,805
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(55,132)	-	55,132	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(4,064,763)	-	-	4,064,763	-	-	-
Transfer to statutory reserve	-	-	11,518,872	-	-	-	-	-	(11,518,872)	-	-	-
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2025 declared subsequent to the year end at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
Interim cash dividend - March 31, 2026
declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
Interim cash dividend - June 30, 2026
declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
	-	-	-	-	-	-	-	-	(60,101,946)	(60,101,946)	-	(60,101,946)
Balance as at September 30, 2026 (Un-audited)	12,521,239	10,473,761	79,250,634	58,518,100	(714,245)	74,741,638	63,525,312	1,146	230,534,451	528,852,036	87,627	528,939,663

ANNEXURE B-4 (1 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	January - September 2026		January - September 2025
	------------- (Rupees in '000) ------------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	242,258,086		225,040,272
Less: Dividend income	627,084		1,651,515
Less: Share of (loss) / profit of associates	(172,686)		766,500
	241,803,688		222,622,257
Adjustments:
Depreciation on property and equipment	11,042,365		6,704,928
Depreciation on right-of-use assets	5,343,303		3,074,120
Depreciation on non-banking assets acquired in satisfaction of claims	16,160		29,853
Amortisation	5,440,428		844,119
Workers' Welfare Fund - charge	4,870,952		4,411,327
Provision for retirement benefits	1,771,243		1,378,476
Provision for compensated absences	132,667		109,575
Credit loss allowance against loans and advances - net	(4,439,703)		(4,534,504)
Credit loss allowance against off - balance sheet obligations - net	768,596		198,026
Credit loss allowance for diminution in value of investments - net	(744,361)		65,525
Credit loss allowance / (Reversal) against cash and balances with treasury banks	45,364		(122,115)
Impairment on fixed assets	160,218		-
Interest expense on lease liabilities against right-of-use assets	5,190,914		2,481,903
Loss on sale of Ijarah assets - net	(5,623)		234
Gain on sale of property and equipments - net	(69,554)		(89,048)
Bad debts written-off directly	102,383		58,036
Unrealised gain on revaluation of investments classified as FVPL	212,922		(42,667)
Credit loss allowance against other assets	128,349		45,220
Other credit loss allowance / write-offs	68,939		183,670
	30,035,562		14,796,678
	271,839,250		237,418,935
(Increase) / decrease in operating assets
Lendings to financial institutions	3,776,202		(120,863,254)
Securities classified as FVPL	(56,069,422)		(208,564,550)
Advances	(341,166,216)		345,360,053
Other assets (excluding advance taxation)	(35,782,317)		(215,464,935)
	(429,241,753)		(199,532,686)
Increase / (decrease) in operating liabilities
Bills payable	39,329,401		(11,566,664)
Borrowings	(1,096,111,267)		868,740,628
Deposits and other accounts	1,324,733,716		2,128,454,253
Other liabilities	28,476,123		18,115,688
	296,427,973		3,003,743,905
	139,025,470		3,041,630,154
(Payments) / receipts on account of staff retirement benefits	(4,314,996)		628,529
Income taxes paid	(149,922,445)		(83,919,249)
Net cash flow (used in) / generated from operating activities	(15,211,971)		2,958,339,434

Continued on next page

ANNEXURE B-4 (2 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	January - September 2026		January - September 2025
	----------------- (Rupees in '000) -------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	1,029,075,559		(2,380,475,512)
Net investments in amortised cost securities	(665,780,297)		(213,820,407)
Net investments in associates	(7,909,597)		(1,752,858)
Cash acquired through business combination	-		15,198,229
Dividend income received	643,393		1,668,480
Investment in property and equipments and intangible assets	(75,578,488)		(94,637,486)
Sale proceeds from disposal of property and equipments	509,139		283,496
Sale proceeds from disposal of ijarah assets	16,217		27,645
Effect of translation of net investment in foreign branches	(1,794,075)		1,059,096
Net cash flow generated from / (used in) investing activities	279,181,851		(2,672,449,317)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets	(9,148,476)		(4,992,057)
Payment of subordinated debt	-		(1,998,400)
Dividend paid	(59,968,887)		(47,023,178)
Net cash flow used in financing activities	(69,117,363)		(54,013,635)
Increase in cash and cash equivalents	194,852,517		231,876,482
Cash and cash equivalents at the beginning of the period	609,447,716		368,625,170
Effect of exchange rate changes on cash and cash equivalents	(3,459,340)		2,179,452
	605,988,376		370,804,622
Cash and cash equivalents at the end of the period	800,840,893		602,681,104

 

END