Financial Results for the Quarter Ended 30 June 26

United Bank Limited

22 July 2026

 

          Secretary's Department

UBL/BOD-262/PSX/Results/26

             22 July 2026

The General Manager,                      

Pakistan Stock Exchange Limited,

Stock Exchange Building,

Stock Exchange Road,                                                                                                          

Karachi

Dear Sir,

Financial Results for the 2^nd Quarter Ended 30 June 2026

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 262^nd meeting held on Wednesday 22 July 2026 at Islamabad at 10:00 a.m., inter-alia, recommended the following:

(i)   Cash Dividend

An Interim Cash Dividend for the 2^nd Quarter ended 30 June 2026 at Rs. 8/- per share i.e. 160%.  This is

in addition to interim Dividend already paid at Rs.8/- per share i.e.160%. 

(ii)  Bonus Shares

--- NIL ---

(iii) Right Shares

--- NIL ---

(iv)            Any Other Entitlement / Corporate Action

--- NIL ---

(v) Any Other Price-Sensitive Information

In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book of Pakistan Stock Exchange Limited, United Bank Limited ("UBL" or the "Bank") hereby conveys the following material information:

1-   The Board of Directors of UBL has approved, subject to receipt of all applicable corporate and regulatory approvals, the establishment by UBL of a private limited company as a subsidiary in which UBL will hold a majority stake, with an investment by UBL of PKR 8 Billion.

Primary objective of this new company is to strengthen agriculture sector of the country and social uplift of the farmers. The company aims to design, develop and provide technology-enabled advisory and research services aimed at improving agricultural productivity, sustainability, and the livelihoods and incomes of farmers and other agricultural value chain participants.

2-   The Board of Directors of UBL has approved, subject to receipt of all applicable shareholders, corporate and regulatory approvals, a further equity investment in Khushhali Microfinance Bank Limited ("KMBL"), an associated company of the Bank, of up to PKR 22 billion through participation in the rights issue and the acquisition of additional shares, including pursuant to its underwriting commitments.

KMBL had negative equity of Rs. 16.15 billion as on December 31, 2025. UBL's investment would help strengthen the financials of KMBL and help in stability of financial markets of Pakistan.

The proposed transaction remains subject to approval of the shareholders of UBL under Section 199 of the Companies Act, 2017, together with receipt of all requisite regulatory approvals and completion of all applicable legal and corporate formalities.

3-   The Board of Directors of UBL has approved, subject to receipt of all applicable corporate and regulatory approvals, the establishment by UBL, along with other promoters, of a University as a not-for-profit company under Section 42 to the Companies Act, 2017 or charitable trust with contribution of PKR 10 Billion by UBL over a period of three to five years. The university would be setup in collaboration with Bestway Foundation which would match the UBL's contribution.

4-   Mr. Shoukat Ali has been appointed as the Company Secretary of UBL with Immediate effect.

You may please inform THE Certificate Holders of the exchange accordingly.

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 Friday, 31 July 2026.  

The Share Transfer Books of UBL will remain closed from Monday, 03 August 2026 to Wednesday, 05 August 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 Friday, 31 July 2026 will be treated in time for the purpose of payment of 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)

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 Quarterly Financial Statements (Quarterly Report) of the Bank for the 2^nd Quarter ended 30 June 2026 will be transmitted through PUCARS separately, within stipulated time.

Yours faithfully, 

Sd/-

Aqeel Ahmed Nasir

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 JUNE 30, 2026
		(Un-audited)		(Audited)
		June 30, 2026		December 31, 2025
		-------------- (Rupees in '000) -----------
ASSETS
Cash and balances with treasury banks		730,124,700		547,646,979
Balances with other banks		123,708,134		57,179,677
Lendings to financial institutions		1,229,750		31,574,547
Investments		11,915,161,960		9,951,054,650
Advances		1,533,725,110		1,369,366,395
Property and equipment		182,877,797		120,546,171
Right-of-use assets		55,194,224		36,198,112
Intangible assets		56,319,611		58,353,831
Deferred tax assets		-		-
Other assets		546,790,649		448,273,083
		15,145,131,935		12,620,193,445
LIABILITIES
Bills payable		178,623,674		58,631,844
Borrowings		7,999,039,269		6,530,014,720
Deposits and other accounts		6,118,550,247		5,168,424,418
Lease liabilities		58,416,629		38,873,814
Subordinated debt		10,000,000		10,000,000
Deferred tax liabilities		82,651,251		135,943,237
Other liabilities		178,048,726		179,573,846
		14,625,329,796		12,121,461,879
NET ASSETS		519,802,139		498,731,566
REPRESENTED BY:
Share capital		12,521,239		12,521,239
Reserves		146,568,740		138,517,698
Surplus on revaluation of assets - net		145,233,580		173,025,714
Unappropriated profit		215,478,580		174,666,915
		519,802,139		498,731,566
CONTINGENCIES AND COMMITMENTS
ANNEXURE - A-2 UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) FOR THE SIX MONTHS ENDED JUNE 30, 2026 April - June 2026 April - June 2025 January - June 2026 January - June 2025 ----------------------------- (Rupees in '000) ---------------------------------- Mark-up / return / interest earned 341,495,299  303,036,068 665,014,561 563,993,829 Mark-up / return / interest expensed 251,219,563 211,838,956 475,318,229 388,571,581 Net mark-up / interest income 90,275,736 91,197,112 189,696,332 175,422,248 Non mark-up / interest income Fee and commission income 7,250,263 8,037,476 15,087,250 14,505,019 Dividend income 412,323 570,794 557,474 1,433,520 Foreign exchange income 8,287,773 3,966,460 12,226,687 7,443,622 Gain / (loss) from derivatives 882,686 (1,761) (2,376) (1,254,578) Gain / (loss) on securities - net 11,856,216 2,321,537 42,392,150 8,147,310 Capital gain on derecognition of financial assets measured at amortised cost - - - - Other income 200,693 270,536 800,712 487,964 Total non mark-up / interest income 28,889,954 15,165,042 71,061,897 30,762,857 Total Income 119,165,690 106,362,154 260,758,229 206,185,105 Non mark-up / Interest expenses Operating expenses 46,103,574 33,867,342 84,073,572 58,486,445 Workers' Welfare Fund 1,476,088 1,437,459 3,477,060 2,915,104 Other charges 6,981 1,841 15,172 2,494 Total non mark-up / interest expenses 47,586,643 35,306,642 87,565,804 61,404,043 Profit before credit loss allowance 71,579,047 71,055,512 173,192,425 144,781,062 Credit loss allowance and write-offs - net (3,752,575) (2,280,430) (4,207,651) (3,889,247) Profit before taxation 75,331,622 73,335,942 177,400,076 148,670,309 Taxation 39,339,574 45,140,968 92,430,170 84,879,717 Profit after taxation 35,992,048 28,194,974 84,969,906 63,790,592 ------------------------------------- (Rupees) --------------------------------------- Earnings per share - basic and diluted 14.37 11.26 33.93 25.69

ANNEXURE A-3 (1 of 3) UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE SIX MONTHS ENDED JUNE 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 six months ended June 30, 2025 Profit after taxation for the six months ended June 30, 2025 - - - - - - - - 63,790,592 63,790,592 Other comprehensive income - net of tax - - 2,184,782 - - 59,345,400 - - - 61,530,182 Total comprehensive income for the six months ended June 30, 2025 - - 2,184,782 - - 59,345,400 -   -   63,790,592 125,320,774 Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (49,362) - 49,362 - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (175,708) - - 175,708 - Share issued under amalgamation 279,442 10,473,761 -   -   -   -   -   -   -   10,753,203 Transfer to statutory reserve - - - - 6,379,059 - - - (6,379,059) - 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) (27,239,340) (27,239,340) Balance as at June 30, 2025 (Un-audited) 12,521,239 10,473,761 61,988,736 -   61,309,936 99,360,647 38,404,087 1,146 142,353,081 426,412,633 Continued on next page ANNEXURE A-3 (2 of 3) UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE SIX MONTHS ENDED JUNE 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 six months December 31, 2025 Profit after taxation for the six months ended December 31, 2025 - - - - - - - - 64,218,255 64,218,255 Other comprehensive income - net of tax - - (1,676,561) -   - 37,745,802 - - 12,099,401 48,168,642 Total comprehensive income for the six months ended December 31, 2025 - - (1,676,561) - - 37,745,802 - - 76,317,656  112,386,897 Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (22,352) - (22,352) - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (2,463,616) - - 2,463,616 - Transfer to statutory reserve - - - - 6,421,826 - - - (6,421,826) - Transactions with owners, recorded directly in equity 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) - - - - - - - - (40,067,964) (40,067,964) 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 SIX MONTHS ENDED JUNE 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 six months ended June 30, 2026 Profit after taxation for the six months ended June 30, 2026 - - - - - - - - 84,969,906 84,969,906 Other comprehensive income - net of tax - - (1,185,157) 739,209 - (47,390,589) 23,689,177 - - (24,147,360) Total comprehensive income for the six months ended June 30, 2026 - - (1,185,157) 739,209 - (47,390,589) 23,689,177   -   84,969,906 60,822,546 Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax - - - - - - (27,338) - 27,338 - Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax - - - - - (4,063,384) - - 4,063,384 - Transfer to statutory reserve - - - - 8,496,990 - - - (8,496,990) - 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) - - - - - - - - (40,067,964) (40,067,964) Balance as at June 30, 2026 (Un-audited) 12,521,239 10,473,761 59,127,018 739,209 76,228,752 83,188,860 62,043,574 1,146 215,478,580 519,802,139

ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2026
	January -             June 2026		January - June 2025
	-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	177,400,076		148,670,309
Less: Dividend income	557,474		1,433,520
	176,842,602		147,236,789
Adjustments:
Depreciation on property and equipment	6,664,522		4,096,700
Depreciation on right-of-use assets	3,283,175		1,841,498
Depreciation on non-banking assets acquired in satisfaction of claims	8,080		15,861
Amortisation	3,614,297		557,282
Workers' Welfare Fund - charge	3,477,060		2,915,104
Provision for retirement benefits	1,165,071		910,693
Provision for compensated absences	193,828		74,743
Credit loss allowance / (Reversal) against loans and advances	(2,146,034)		(4,083,719)
Credit loss allowance / (Reversal) against off-balance sheet obligations - net	(354,490)		116,371
Credit loss allowance / (Reversal) for dimunition in value of investments	(1,327,502)		427,588
Credit loss allowance / (Reversal) against cash and balances with treasury banks	(7,080)		(33,302)
Impairment on fixed assets	160,218		-
Interest expense on lease liabilities against right-of-use assets	3,094,721		1,444,751
Loss on sale of Ijarah assets - net	97		234
Gain on sale of property and equipment - net	(66,613)		(75,331)
Bad debts written off directly	61,417		49,843
Unrealised gain on revaluation of investments classified as FVPL	(941,220)		(110,900)
Credit loss allowance / (Reversal) against other assets - net	100,454		(2,301)
Other credit loss allowance / write-offs	(215,648)		60,489
	16,764,353		8,205,604
	193,606,955		155,442,393
(Increase) / decrease in operating assets
Lendings to financial institutions	30,344,797		(72,240,238)
Securities classified as FVPL	(514,518,846)		(251,153,986)
Advances	(155,355,643)		386,399,490
Other assets (excluding advance taxation)	(70,129,136)		(173,515,395)
	(709,658,828)		(110,510,129)
Increase / (decrease) in operating liabilities
Bills payable	119,991,830		8,504,986
Borrowings	1,469,024,549		1,216,244,381
Deposits and other accounts	950,125,829		1,652,123,475
Other liabilities	(5,792,691)		(23,136,314)
	2,533,349,517		2,853,736,528
	2,017,297,644		2,898,668,792
Payments on account of staff retirement benefits	(4,423,933)		(339,765)
Income taxes paid	(120,675,218)		(55,139,175)
Net cash flow generated from operating activities	1,892,198,493		2,843,189,852
	Continued on next page
ANNEXURE A-4 (2 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2026	January -          June 2026		January - June 2025
	-------------- (Rupees in '000) --------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	(1,240,705,986)		(2,596,068,098)
Net investments in amortised cost securities	(307,683,988)		(16,335,701)
Net investments in associates	(7,785,083)		-
Cash acquired through business combination	-		15,198,229
Dividend income received	522,802		1,433,520
Investment in property and equipments and intangible assets	(44,114,420)		(84,980,619)
Sale proceeds from disposal of property and equipments	639,389		187,103
Sale proceeds from disposal of ijarah assets	10,497		10,360
Effect of translation of net investment in foreign branches	(1,185,157)		2,184,782
Net cash flow used in investing activities	(1,600,301,946)		(2,678,370,424)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets	(5,854,093)		(3,291,553)
Payment of sub ordinated debt	-		(999,800)
Dividend paid	(37,036,276)		(27,084,332)
Net cash flow used in financing activities	(42,890,369)		(31,375,685)
Increase / (decrease) in cash and cash equivalents	249,006,178		133,443,743
Cash and cash equivalents at the beginning of the period	607,084,650		365,826,238
Effect of exchange rate changes on cash and cash equivalents	(2,257,994)		3,887,919
	604,826,656		369,714,157
Cash and cash equivalents at the end of the period	853,832,834		503,157,900

ANNEXURE B-1

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT JUNE 30, 2026

	(Un-audited) June 30, 2026		(Audited) December 31, 2025
	----------------- (Rupees in '000) -----------------
ASSETS
Cash and balances with treasury banks	731,215,749		548,709,327
Balances with other banks	123,774,830		57,279,049
Lendings to financial institutions	1,229,750		31,574,547
Investments	11,920,566,462		9,956,066,916
Advances	1,533,725,110		1,369,366,395
Property and equipment	183,303,046		120,927,227
Right-of-use assets	55,748,790		36,813,438
Intangible assets	56,662,905		58,690,656
Deferred tax assets	-		-
Other assets	547,457,113		449,087,109
	15,153,683,755		12,628,514,664
LIABILITIES
Bills payable	178,623,674		58,631,844
Borrowings	7,999,039,269		6,530,014,720
Deposits and other accounts	6,117,938,516		5,168,089,899
Lease liabilities	59,023,701		39,520,412
Subordinated debt	10,000,000		10,000,000
Deferred tax liabilities	82,754,881		136,299,736
Other liabilities	178,996,296		180,666,240
	14,626,376,337		12,123,222,851
NET ASSETS	527,307,418		505,291,813
REPRESENTED BY:
Share capital	12,521,239		12,521,239
Reserves	146,568,740		138,517,698
Surplus on revaluation of assets - net	145,219,190		173,003,893
Unappropriated profit	222,917,619		181,178,532
Total equity attributable to the equity holders of the Bank	527,226,788		505,221,362
Non-controlling interest	80,630		70,451
	527,307,418		505,291,813
CONTINGENCIES AND COMMITMENTS

ANNEXURE B-2

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

FOR THE SIX MONTHS ENDED JUNE 30, 2026

				April - June 2026		April - June 2025		January - June 2026		January - June 2025
				-------------------------------------------- (Rupees in '000) ------------------------------
Mark-up / return / interest earned				341,500,405		303,047,515		665,027,860		564,015,540
Mark-up / return / interest expensed				251,209,761		211,841,680		475,315,124		388,586,686
Net mark-up / interest income				90,290,644		91,205,835		189,712,736		175,428,854
Non-mark-up / interest income
Fee and commission income				8,368,587		8,982,232		17,305,603		16,488,193
Dividend income				412,323		501,663		557,474		1,364,389
Foreign exchange income				8,625,403		4,177,999		12,808,722		7,847,939
Gain / (loss) from derivatives				882,686		(1,761)		(2,376)		(1,254,578)
Gain on securities - net				11,928,450		2,321,537		42,352,768		8,147,310
Capital gain on derecognition of financial assets measured at amortised cost				-		-		-		-
Other income				192,396		245,210		778,521		455,457
Total non-markup / interest income				30,409,845		16,226,880		73,800,712		33,048,710
Total income				120,700,489		107,432,715		263,513,448		208,477,564
Non-mark-up / interest expenses
Operating expenses				46,873,499		34,447,356		85,516,919		59,653,645
Workers' Welfare Fund				1,495,976		1,451,550		3,505,298		2,943,169
Other charges				7,006		1,841		15,197		2,494
Total non-mark-up / interest expenses				48,376,481		35,900,747		89,037,414		62,599,308
Share of profit / (loss) of associates				1,856,096		422,516		(149,940)		605,435
Profit before credit loss allowance				74,180,104		71,954,484		174,326,094		146,483,691
Credit loss allowance and write-offs - net				(3,752,575)		(2,280,430)		(4,207,651)		(3,889,247)
Profit before taxation				77,932,679		74,234,914		178,533,745		150,372,938
Taxation				40,445,541		45,614,327		92,626,238		85,640,725
Profit after taxation				37,487,138		28,620,587		85,907,507		64,732,213
Attributable to:
Equity holders of the Bank				37,480,089		28,615,924		85,897,328		64,722,700
Non-controlling interest				7,049		4,663		10,179		9,513
				37,487,138		28,620,587		85,907,507		64,732,213
				--------------------------------------- (Rupees) ---------------------------------------
Earnings per share - basic and diluted				14.97		11.43		34.30		26.07

ANNEXURE B-3 (1 of 2)

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

FOR THE SIX MONTHS ENDED JUNE 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 six months ended June 30, 2025
Profit after taxation for the six months ended June 30, 2025	-	-	-	-	-	-	-	-	64,722,700	64,722,700	9,513	64,732,213
Other comprehensive income - net of tax	-	-	-	2,184,782	-	59,319,442	-	-	-	61,504,224	-	61,504,224
Total comprehensive income for the six months ended June 30, 2025	-	-	-	2,184,782	-	59,319,442	-	-	64,722,700	126,226,924	9,513	126,236,437
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(49,362)	-	49,362	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(175,708)	-	-	175,708	-	-	-
Transfer to statutory reserve	-	-	6,379,059	-	-	-	-	-	(6,379,059)	-	-	-
Shares issued under amalgamation	279,442	10,473,761	-	-	-	-	-	-	-	10,753,203	-	10,753,203
Transactions with owners for the six months ended June 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)
	-	-	-	-	-	-	-	-	(27,239,340)	(27,239,340)		(27,239,340)
Balance as at June 30, 2025 (Un-audited)	12,521,239	10,473,761	61,309,936	61,988,736	-	99,354,308	38,404,087	1,146	147,801,422	431,854,635	59,423	431,914,058
Total comprehensive income for the six months ended December 31, 2025
Profit after taxation for the six months ended December 31, 2025	-	-	-	-	-	-	-	-	65,277,183	65,277,183	10,978	65,288,161
Other comprehensive income - net of tax	-	-	-	(1,676,561)	-	37,730,320	-	-	12,103,749	48,157,508	50	48,157,558
Total comprehensive income for the six months ended December 31, 2025	-	-	-	(1,676,561)	-	37,730,320	-	-	77,380,932	113,434,691	11,028	113,445,719
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(22,352)	-	22,352	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(2,463,616)	-	-	2,463,616	-	-	-
Transfer to statutory reserve	-	-	6,421,826	-	-	-	-	-	(6,421,826)	-	-	-
Transactions with owners for the six months ended December 31, 2025, recorded directly in equity
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)
	-	-	-	-	-	-	-	-	(40,067,964)	(40,067,964)	-	(40,067,964)
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 SIX MONTHS ENDED June 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 six months ended June 30, 2026
Profit after taxation for the six months ended June 30, 2026	-	-	-	-	-	-	-	-	85,897,328	85,897,328	10,179	85,907,507
Other comprehensive income - net of tax	-	-	-	(1,185,157)	739,209	(47,383,158)	23,689,177	-	-	(24,139,929)	-	(24,139,929)
Total comprehensive income for the six months ended June 30, 2026	-	-	-	(1,185,157)	739,209	(47,383,158)	23,689,177	-	85,897,328	61,757,399	10,179	61,767,578
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(27,338)	-	27,338	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(4,063,384)	-	-	4,063,384	-	-	-
Transfer to statutory reserve	-	-	8,496,990	-	-	-	-	-	(8,496,990)	-	-	-
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)
	-	-	-	-	-	-	-	-	(40,067,964)	(40,067,964)	-	(40,067,964)
Balance as at June 30, 2026 (Un-audited)	12,521,239	10,473,761	76,228,752	59,127,018	739,209	83,174,470	62,043,574	1,146	222,917,619	527,226,788	80,630	527,307,418

ANNEXURE B-4 (1 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	January - June 2026		January - June 2025
	--------- (Rupees in '000) ---------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	178,533,745		150,372,938
Less: Dividend income	557,474		1,364,389
Less: Share of (loss) / profit of associates	(149,940)		605,435
	178,126,211		148,403,114
Adjustments:
Depreciation on property and equipment	6,735,459		4,143,442
Depreciation on right-of-use assets	3,314,997		1,890,306
Depreciation on non-banking assets acquired in satisfaction of claims	8,080		15,861
Amortisation	3,623,815		564,200
Workers' Welfare Fund - charge	3,505,298		2,943,169
Provision for retirement benefits	1,177,872		935,205
Provision for compensated absences	91,046		74,743
Credit loss allowance against loans and advances - net	(2,146,034)		(4,083,719)
Credit loss allowance against off - balance sheet obligations - net	(354,490)		116,371
Credit loss allowance for diminution in value of investments - net	(1,327,502)		427,588
Credit loss allowance / (Reversal) against cash and balances with treasury banks	(7,080)		(33,302)
Impairment on fixed assets	160,218		-
Interest expense on lease liabilities against right-of-use assets	3,110,982		1,466,817
Loss on sale of Ijarah assets - net	97		234
Gain on sale of property and equipments - net	(66,689)		(75,332)
Bad debts written-off directly	61,417		49,843
Unrealised gain on revaluation of investments classified as FVPL	(941,220)		(110,900)
Credit loss allowance against other assets	100,454		(2,301)
Other credit loss allowance / write-offs	(215,648)		60,489
	16,831,072		8,382,714
	194,957,283		156,785,828
(Increase) / decrease in operating assets
Lendings to financial institutions	30,344,797		(72,240,238)
Securities classified as FVPL	(514,518,847)		(251,153,986)
Advances	(155,355,643)		386,448,883
Other assets (excluding advance taxation)	(70,305,210)		(173,355,586)
	(709,834,903)		(110,300,927)
Increase / (decrease) in operating liabilities
Bills payable	119,991,830		8,504,986
Borrowings	1,469,024,549		1,216,244,381
Deposits and other accounts	949,848,617		1,652,017,699
Other liabilities	(5,793,214)		(22,899,837)
	2,533,071,782		2,853,867,229
	2,018,194,162		2,900,352,130
Payments on account of staff retirement benefits	(4,335,499)		(354,709)
Income taxes paid	(121,060,719)		(55,584,101)
Net cash flow generated from operating activities	1,892,797,944		2,844,413,320

Continued on next page

ANNEXURE B-4 (2 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	January - June 2026		January - June 2025
	----------------- (Rupees in '000) -----------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	(1,240,706,331)		(2,596,119,863)
Net investments in amortised cost securities	(307,683,988)		(16,335,701)
Net investments in associates	(8,027,034)		(1,132,233)
Cash acquired through business combination	-		15,198,229
Dividend income received	469,288		1,364,389
Investment in property and equipments and intangible assets	(44,251,855)		(85,124,634)
Sale proceeds from disposal of property and equipments	645,783		188,088
Sale proceeds from disposal of ijarah assets	10,497		27,645
Effect of translation of net investment in foreign branches	(1,185,157)		2,184,782
Net cash flow used in investing activities	(1,600,728,797)		(2,679,749,298)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets	(6,030,668)		(3,365,246)
Payment of subordinated debt	-		(999,800)
Dividend paid	(37,036,276)		(27,084,332)
Net cash flow used in financing activities	(43,066,944)		(31,449,378)
Increase in cash and cash equivalents	249,002,203		133,214,644
Cash and cash equivalents at the beginning of the period	608,256,722		366,968,159
Effect of exchange rate changes on cash and cash equivalents	(2,268,346)		3,836,463
	605,988,376		370,804,622
Cash and cash equivalents at the end of the period	854,990,579		504,019,266

 

END