Financial Results for the 1st Qtr. 2026 of UBL

United Bank Limited

15 April 2026

 

          Secretary's Department

UBL/BOD-261/PSX/Results/26

             15 April 2026

The General Manager,                      

Pakistan Stock Exchange Limited,

Stock Exchange Building,

Stock Exchange Road,                                                                                                          

Karachi

Dear Sir,

Financial Results for the 1^st Quarter Ended 31 March 2026

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 261^st meeting held on Wednesday 15 April 2026 at Islamabad at 10:00 a.m., inter-alia, recommended the following:

(i)   Cash Dividend

An Interim Cash Dividend for the 1^st Quarter ended 31 March 2026 at Rs.8/- per share i.e.160%.

Bonus Shares

--- NIL ---

(ii)  Right Shares

--- NIL ---

(iii) Any Other Entitlement / Corporate Action

--- NIL ---

(iv)    Any Other Price-Sensitive Information

The Board of Directors of UBL has appointed Lord Zameer M. Choudrey, CBE, SI Pk as Chairman of the Board of Directors of UBL.

Further the Board has re-appointed Mr. Muhammad Jawaid Iqbal, as President and CEO of UBL, for a term of three years subject to all applicable regulatory approvals including clearance of Fit and Proper Test (FPT) by the State Bank of Pakistan.

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)

1.   Consolidated Statements of Financial Position

2.   Consolidated Statements of Profit and Loss

3.   Consolidated Statement of Changes in Equity

4.   Consolidated Statements of Cash Flows

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, 23 April 2026.  

The Share Transfer Books of UBL will remain closed from Friday, 24 April 2026 to Monday 27 April 2026 (both days inclusive). 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 23 April 2026 will be treated in time for the purpose of payment of interim cash dividend

The Quarterly Financial Statements (Quarterly Report) of the Bank for the 1^st Quarter ended 31 March 2026 will be transmitted through PUCARS separately, within stipulated time.

Yours faithfully, 

         Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

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 MARCH 31, 2026
					(Un-audited)		(Audited)
					March 31, 2026		December 31, 2025
					-------------- (Rupees in '000) -----------
ASSETS
Cash and balances with treasury banks					574,808,391		547,646,979
Balances with other banks					65,852,900		57,179,677
Lendings to financial institutions					-		31,574,547
Investments					9,924,233,155		9,951,054,650
Advances					1,479,131,417		1,369,366,395
Property and equipment					132,717,607		120,546,171
Right-of-use assets					47,157,643		36,198,112
Intangible assets					57,389,199		58,353,831
Deferred tax assets					-		-
Other assets					444,784,168		448,273,083
					12,726,074,480		12,620,193,445
LIABILITIES
Bills payable					59,166,702		58,631,844
Borrowings					6,604,788,795		6,530,014,720
Deposits and other accounts					5,394,449,024		5,168,424,418
Lease liabilities					49,797,372		38,873,814
Subordinated debt					10,000,000		10,000,000
Deferred tax liabilities					13,457,921		135,943,237
Other liabilities					178,239,294		179,573,846
					12,309,899,108		12,121,461,879
NET ASSETS					416,175,372		498,731,566
REPRESENTED BY:
Share capital					12,521,239		12,521,239
Reserves					144,949,939		138,517,698
Surplus on revaluation of assets - net					55,605,538		173,025,714
Unappropriated profit					203,098,656		174,666,915
					416,175,372		498,731,566
CONTINGENCIES AND COMMITMENTS

ANNEXURE - A-2

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

FOR THE THREE MONTHS ENDED MARCH 31, 2026

			January - March 2026		January - March 2025
			-------------- (Rupees in '000) -----------
Mark-up / return / interest earned			323,519,262		260,957,761
Mark-up / return / interest expensed			224,098,666		176,732,625
Net mark-up / interest income			99,420,596		84,225,136
Non mark-up / interest income
Fee and commission income			7,836,987		6,467,543
Dividend income			145,151		862,726
Foreign exchange income			3,938,914		3,477,162
Loss from derivatives			(885,062)		(1,252,817)
Gain on securities - net			30,535,934		5,825,773
Capital gain on derecognition of financial assets measured at amortised cost			-		-
Other income			600,019		217,428
Total non mark-up / interest income			42,171,943		15,597,815
Total Income			141,592,539		99,822,951
Non mark-up / Interest expenses
Operating expenses			37,969,998		24,619,103
Workers' Welfare Fund			2,000,972		1,477,645
Other charges			8,191		653
Total non mark-up / interest expenses			39,979,161		26,097,401
Profit before credit loss allowance			101,613,378		73,725,550
Credit loss allowance and write-offs - net			(455,076)		(1,608,817)
Profit before taxation			102,068,454		75,334,367
Taxation			53,090,596		39,738,749
Profit after taxation			48,977,858		35,595,618
			------------------- Rupees -------------------
Earnings per share - basic and diluted - Restated			19.56		14.46

ANNEXURE A-3 (1 of 3) UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 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 three months ended March 31, 2025 Profit after taxation for the three months ended March 31, 2025 - - - - - - - - 35,595,618 35,595,618 Other comprehensive income - net of tax - - 651,213 - - (3,027,599) - - - (2,376,386) Total comprehensive income for the three months ended March 31, 2025 - - 651,213 - - (3,027,599) -   -   35,595,618 33,219,232 Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (17,861) - 17,861 - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (186,890) - - 186,890 - Share issued under amalgamation 279,442 10,473,761 -   -   -   -   -   -   -   10,753,203 Transfer to statutory reserve - - - - 3,559,561 - - - (3,559,561) - 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) Balance as at March 31, 2025 (Un-audited) 12,521,239 10,473,761 60,455,167 -   58,490,439 36,976,466 38,435,588 1,146 130,730,648 348,084,454 Continued on next page ANNEXURE A-3 (2 of 3) UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 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 December 31, 2025 Profit after taxation for the nine months ended December 31, 2025 - - - - - - - - 92,413,229 92,413,229 Other comprehensive income - net of tax - - (142,992) -   - 100,118,801 - - 12,099,401 112,075,210 Total comprehensive income for the nine months ended December 31, 2025 - - (142,992) - - 100,118,801 - - 104,512,630 204,488,439 Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (53,853) - 53,853 - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (2,452,434) - - 2,452,434 - Transfer to statutory reserve - - - - 9,241,323 - - - (9,241,323) - Transactions with owners, recorded directly in equity 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) Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share - - - - - - - - (20,033,982) (20,033,982) - - - - - - - - (53,841,327) (53,841,327) 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 THREE MONTHS ENDED MARCH 31, 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 ended March 31, 2026 Profit after taxation for the three months ended March 31, 2026 - - - - - - - - 48,977,858 48,977,858 Other comprehensive income - net of tax - - (487,607) 2,022,063 - (113,350,517) - - - (111,816,061) Total comprehensive income for the three months ended March 31, 2026 - - (487,607) 2,022,063 - (113,350,517) -   -   48,977,858 (62,838,203) Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (6,247) - 6,247 - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (4,063,412) - - 4,063,412 - Transfer to statutory reserve - - - - 4,897,785 - - - (4,897,785) - 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) Balance as at March 31, 2026 (Un-audited) 12,521,239 10,473,761 59,824,568 2,022,063 72,629,547 17,228,904 38,375,488 1,146 203,098,656 416,175,372

ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026
	January -        March 2026		January - March 2025
	-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	102,068,454		75,334,367
Less: Dividend income	145,151		862,726
	101,923,303		74,471,641
Adjustments:
Depreciation on property and equipment	3,123,045		1,852,788
Depreciation on Islamic financing against leased assets (Ijarah)	93,205		22,577
Depreciation on right-of-use assets	1,516,058		781,052
Depreciation on non-banking assets acquired in satisfaction of claims	4,040		3,457
Amortisation	1,769,920		275,891
Workers' Welfare Fund - charge	2,000,972		1,477,645
Provision for retirement benefits	916,232		422,909
Provision for compensated absences	30,767		34,536
Credit loss allowance against loans and advances - net	1,579,036		(2,997,963)
Credit loss allowance against off - balance sheet obligations - net	(574,942)		818,225
Credit loss allowance for diminution in value of investments - net	(1,292,968)		623,424
Interest expense on lease liabilities against right-of-use assets	1,404,294		596,465
Loss on sale of Ijarah assets - net	97		234
Gain on sale of property and equipment - net	(35,169)		(58,543)
Bad debts written-off directly	23,850		19,656
Unrealised gain on revaluation of investments classified as FVPL	2,217,732		16,503
Credit loss allowance against other assets	65,750		20,397
Other credit loss allowance / write-offs	100,886		49,989
	12,942,805		3,959,242
	114,866,108		78,430,883
(Increase) / decrease in operating assets
Lendings to financial institutions	31,574,547		12,963,283
Securities classified as FVPL	(137,300,867)		(114,668,176)
Advances	(111,590,217)		518,625,528
Other assets (excluding advance taxation)	(5,525,133)		(168,073,472)
	(222,841,670)		248,847,163
Increase / (decrease) in operating liabilities
Bills payable	534,858		(16,662,392)
Borrowings	74,774,075		548,102,065
Deposits and other accounts	226,024,606		754,580,691
Other liabilities	(10,607,243)		(5,891,991)
	290,726,296		1,280,128,373
	182,750,734		1,607,406,419
Payments on account of staff retirement benefits	(4,407,606)		(228,584)
Income taxes paid	(42,094,119)		(17,840,581)
Net cash flow generated from operating activities	136,249,009		1,589,337,254
	Continued on next page
ANNEXURE A-4 (2 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026	January -        March 2026		January - March 2025
	-------------- (Rupees in '000) --------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	225,216,128		(1,500,147,500)
Net investments in amortised cost securities	(303,371,556)		811,761
Net investments in associates	8,060,154		-
Cash acquired through business combination	-		15,198,229
Dividend income received	95,828		352,349
Investment in property and equipments and intangible assets	(16,318,737)		(68,309,417)
Sale proceeds from disposal of property and equipments	254,137		138,675
Sale proceeds from disposal of ijarah assets	10,497		26,878
Effect of translation of net investment in foreign branches	(487,607)		651,213
Net cash flow used in investing activities	(86,541,156)		(1,551,277,812)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets	(2,978,876)		(1,519,047)
Dividend paid	(10,894,342)		(6,619,963)
Net cash flow used in financing activities	(13,873,218)		(8,139,010)
Increase / (decrease) in cash and cash equivalents	35,834,635		29,920,432
Cash and cash equivalents at the beginning of the period	605,998,071		368,504,388
Effect of exchange rate changes on cash and cash equivalents	(1,171,415)		1,209,769
	604,826,656		369,714,157
Cash and cash equivalents at the end of the period	640,661,291		399,634,589

ANNEXURE B-1

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT MARCH 31, 2026

	(Un-audited) March 31, 2026		(Audited) December 31, 2025
	----------------- (Rupees in '000) -----------------
ASSETS
Cash and balances with treasury banks	575,825,627		548,709,327
Balances with other banks	65,851,309		57,279,049
Lendings to financial institutions	-		31,574,547
Investments	9,927,042,138		9,956,066,916
Advances	1,479,131,417		1,369,366,395
Property and equipment	133,118,760		120,927,227
Right-of-use assets	47,718,883		36,813,438
Intangible assets	57,724,332		58,690,656
Deferred tax assets	-		-
Other assets	445,660,121		449,087,109
	12,732,072,587		12,628,514,664
LIABILITIES
Bills payable	59,166,702		58,631,844
Borrowings	6,604,788,795		6,530,014,720
Deposits and other accounts	5,393,486,772		5,168,089,899
Lease liabilities	50,414,096		39,520,412
Subordinated debt	10,000,000		10,000,000
Deferred tax liabilities	12,875,592		136,299,736
Other liabilities	179,125,089		180,666,240
	12,309,857,046		12,123,222,851
NET ASSETS	422,215,541		505,291,813
REPRESENTED BY:
Share capital	12,521,239		12,521,239
Reserves	144,949,939		138,517,698
Surplus on revaluation of assets - net	55,621,128		173,003,893
Unappropriated profit	209,049,654		181,178,532
Total equity attributable to the equity holders of the Bank	422,141,960		505,221,362
Non-controlling interest	73,581		70,451
	422,215,541		505,291,813
CONTINGENCIES AND COMMITMENTS

ANNEXURE B-2

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

FOR THE THREE MONTHS ENDED MARCH 31, 2026

									January - March 2026		January - March 2025
									-------- (Rupees in '000) --------
Mark-up / return / interest earned									323,527,455		260,968,025
Mark-up / return / interest expensed									224,105,363		176,745,006
Net mark-up / interest income									99,422,092		84,223,019
Non-mark-up / interest income
Fee and commission income									8,937,016		7,505,961
Dividend income									145,151		862,726
Foreign exchange income									4,183,319		3,669,940
Loss from derivatives									(885,062)		(1,252,817)
Gain on securities - net									30,424,318		5,825,773
Capital gain on derecognition of financial assets measured at amortised cost									-		-
Other income									586,125		210,247
Total non-markup / interest income									43,390,867		16,821,830
Total income									142,812,959		101,044,849
Non-mark-up / interest expenses
Operating expenses									38,643,420		25,206,289
Workers' Welfare Fund									2,009,322		1,491,619
Other charges									8,191		653
Total non-mark-up / interest expenses									40,660,933		26,698,561
Share of (loss) / profit of associates									(2,006,036)		182,919
Profit before credit loss allowance									100,145,990		74,529,207
Credit loss allowance and write-offs - net									(455,076)		(1,608,817)
Profit before taxation									100,601,066		76,138,024
Taxation									52,180,697		40,026,398
Profit after taxation									48,420,369		36,111,626
Attributable to:
Equity holders of the Bank									48,417,239		36,106,776
Non-controlling interest									3,130		4,850
									48,420,369		36,111,626
									----------------- (Rupees) -----------------
Earnings per share - Basic and diluted - Restated									19.33		14.67

ANNEXURE B-3 (1 of 2)

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

FOR THE THREE MONTHS ENDED MARCH 31, 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 three months ended March 31, 2025
Profit after taxation for the three months ended March 31, 2025	-	-	-	-	-	-	-	-	36,106,776	36,106,776	4,850	36,111,626
Other comprehensive income - net of tax	-	-	-	651,213	-	(3,056,394)	-	-	-	(2,405,181)	-	(2,405,181)
Total comprehensive income for the three months ended March 31, 2025	-	-	-	651,213	-	(3,056,394)	-	-	36,106,776	33,701,595	4,850	33,706,445
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(17,861)	-	17,861	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(186,890)	-	-	186,890	-	-	-
Transfer to statutory reserve	-	-	3,559,561	-	-	-	-	-	(3,559,561)	-	-	-
Shares issued under amalgamation	279,442	10,473,761	-	-	-	-	-	-	-	10,753,203	-	10,753,203
Transactions with owners for the three months ended March 31, 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)
Balance as at March 31, 2025 (Un-audited)	12,521,239	10,473,761	58,490,438	60,455,167	-	36,967,290	38,435,588	1,146	135,758,040	353,102,669	54,760	353,157,429
Total comprehensive income for the nine months ended December 31, 2025
Profit after taxation for the nine months ended December 31, 2025	-	-	-	-	-	-	-	-	93,893,107	93,893,107	15,641	93,908,748
Other comprehensive income - net of tax	-	-	-	(142,992)	-	100,106,156	-	-	12,103,749	112,066,913	50	112,066,963
Total comprehensive income for the nine months ended December 31, 2025	-	-	-	(142,992)	-	100,106,156	-	-	105,996,856	205,960,020	15,691	205,975,711
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(53,853)	-	53,853	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(2,452,434)	-	-	2,452,434	-	-	-
Transfer to statutory reserve	-	-	9,241,324	-	-	-	-	-	(9,241,324)	-	-	-
Transactions with owners for the nine months ended December 31, 2025, recorded directly in equity
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)
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
	-	-	-	-	-	-	-	-	(53,841,327)	(53,841,327)	-	(53,841,327)
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 (1 of 2)

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

FOR THE THREE MONTHS ENDED MARCH 31, 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 three months ended March 31, 2026
Profit after taxation for the three months ended March 31, 2026	-	-	-	-	-	-	-	-	48,417,239	48,417,239	3,130	48,420,369
Other comprehensive income - net of tax	-	-	-	(487,607)	2,022,063	(113,313,106)	-	-	-	(111,778,650)	-	(111,778,650)
Total comprehensive income for the three months ended March 31, 2026	-	-	-	(487,607)	2,022,063	(113,313,106)	-	-	48,417,239	(63,361,411)	3,130	(63,358,281)
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(6,247)	-	6,247	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(4,063,412)	-	-	4,063,412	-	-	-
Transfer to statutory reserve	-	-	4,897,785	-	-	-	-	-	(4,897,785)	-	-	-
Transactions with owners for the three months ended March 31, 2026, 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)
Balance as at March 31, 2026 (Un-audited)	12,521,239	10,473,761	72,629,547	59,824,568	2,022,063	17,244,494	38,375,488	1,146	209,049,654	422,141,960	73,581	422,215,541

ANNEXURE B-4 (1 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

	January - March 2026		January - March 2025
	--------- (Rupees in '000) ---------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	100,601,066		76,138,024
Less: Dividend income	145,151		862,726
Less: Share of (loss) / profit of associates	(2,006,036)		182,919
	102,461,951		75,092,379
Adjustments:
Depreciation on property and equipment	3,147,915		1,874,603
Depreciation on Islamic financing against leased assets (Ijarah)	93,205		22,577
Depreciation on right-of-use assets	1,532,524		813,637
Depreciation on non-banking assets acquired in satisfaction of claims	4,040		3,457
Amortisation	1,773,314		279,459
Workers' Welfare Fund - charge	2,009,322		1,491,619
Provision for retirement benefits	916,232		427,270
Provision for compensated absences	30,767		34,536
Credit loss allowance against loans and advances - net	1,579,036		(2,997,963)
Credit loss allowance against off - balance sheet obligations - net	(574,942)		818,225
Credit loss allowance for diminution in value of investments - net	(1,292,968)		623,424
Interest expense on lease liabilities against right-of-use assets	1,412,597		609,734
Loss on sale of Ijarah assets - net	97		234
Gain on sale of property and equipments - net	(35,169)		(58,544)
Bad debts written-off directly	23,850		19,656
Unrealised gain on revaluation of investments classified as FVPL	2,217,732		16,503
Credit loss allowance against other assets	65,750		20,397
Other credit loss allowance / write-offs	100,886		80,635
	13,004,188		4,079,459
	115,466,139		79,171,838
(Increase) / decrease in operating assets
Lendings to financial institutions	31,574,547		12,963,283
Securities classified as FVPL	(137,300,867)		(114,668,176)
Advances	(111,590,217)		518,104,269
Other assets (excluding advance taxation)	(5,556,930)		(167,401,098)
	(222,873,467)		248,998,278
Increase / (decrease) in operating liabilities
Bills payable	534,858		(16,662,392)
Borrowings	74,774,075		548,102,065
Deposits and other accounts	225,396,873		754,604,962
Other liabilities	(7,765,317)		(5,840,562)
	292,940,489		1,280,204,073
	185,533,161		1,608,374,189
Payments on account of staff retirement benefits	(4,415,554)		(228,575)
Income taxes paid	(42,284,056)		(18,185,802)
Net cash flow generated from operating activities	138,833,551		1,589,959,812

                                                                                                                                                                       Continued on next page

ANNEXURE B-4 (2 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

	January - March 2026		January - March 2025
	----------------- (Rupees in '000) -----------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	224,986,972		(1,500,190,970)
Net investments in amortised cost securities	(303,371,556)		811,761
Net investments in associates	5,626,391		(366,974)
Cash acquired through business combination	-		15,198,229
Dividend income received	95,828		352,349
Investment in property and equipments and intangible assets	(16,366,806)		(68,323,362)
Sale proceeds from disposal of property and equipments	255,537		138,911
Sale proceeds from disposal of ijarah assets	27,645		27,645
Effect of translation of net investment in foreign branches	(487,607)		651,213
Net cash flow used in investing activities	(89,233,596)		(1,551,701,198)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets	(3,017,053)		(1,549,147)
Dividend paid	(10,894,342)		(6,619,963)
Net cash flow used in financing activities	(13,911,395)		(8,169,110)
Increase in cash and cash equivalents	35,688,560		30,089,504
Cash and cash equivalents at the beginning of the period	607,166,809		369,594,853
Effect of exchange rate changes on cash and cash equivalents	(1,178,433)		1,209,769
	605,988,376		370,804,622
Cash and cash equivalents at the end of the period	641,676,936		400,894,126

 

END