United Bank Limited Delivers Strong First-Quarter Performance in 2026

United Bank Limited (UBL) has reported a strong financial performance for the first quarter ended March 31, 2026, with consolidated profit after taxation rising to Rs48.42 billion, compared with Rs36.11 billion recorded in the same period last year. The results highlight continued growth in the bank’s earnings during the opening quarter of 2026.

According to UBL’s financial statements submitted to the Pakistan Stock Exchange, the bank’s consolidated profit before taxation reached Rs100.60 billion during the quarter, up from Rs76.14 billion in the corresponding period of 2025. After accounting for taxation of Rs52.18 billion, consolidated profit after taxation stood at Rs48.42 billion.

Net Mark-Up Income Shows Continued Growth

UBL recorded consolidated net mark-up/interest income of approximately Rs99.42 billion in the three months ended March 31, 2026, compared with Rs84.22 billion in the same quarter of 2025. Mark-up/interest earned increased to Rs323.53 billion from Rs260.97 billion, while mark-up/interest expensed also rose to Rs224.11 billion.

The improvement in net mark-up income was supported by the bank’s overall income profile. Consolidated non-mark-up/interest income increased to Rs43.39 billion, compared with Rs16.82 billion a year earlier. Gains on securities were particularly significant, reaching Rs30.42 billion during the quarter versus Rs5.83 billion in the same period of 2025.

Earnings Per Share Improve

The bank’s consolidated earnings per share (EPS) increased to Rs19.33 for the quarter, compared with Rs14.67 in the corresponding period of 2025. This represents a notable improvement in earnings generated for shareholders.

On a standalone basis, UBL reported profit after taxation of approximately Rs48.98 billion, compared with Rs35.60 billion in the first quarter of 2025. Standalone EPS also increased to Rs19.56 from Rs14.46.

UBL Announces Rs8 Per Share Interim Dividend

Alongside the quarterly results, UBL’s Board of Directors recommended an interim cash dividend of Rs8 per share, equivalent to 160%, for the quarter ended March 31, 2026. The company did not announce any bonus shares, right shares or other corporate action in connection with the results.

The dividend will be paid to shareholders whose names appear in the bank’s register, along with their IBAN details, on April 23, 2026. UBL’s share transfer books were scheduled to remain closed from April 24 to April 27, 2026, both days inclusive.

Leadership Updates

UBL also announced changes at the board level. The Board appointed Lord Zameer M. Choudrey, CBE, SI Pk, as Chairman of UBL’s Board of Directors.

At the same time, Muhammad Jawaid Iqbal was re-appointed as President and CEO for a three-year term, subject to applicable regulatory approvals, including clearance of the Fit and Proper Test by the State Bank of Pakistan.

Stronger Financial Position

UBL’s consolidated statement of financial position shows total assets of approximately Rs12.73 trillion as of March 31, 2026, compared with Rs12.63 trillion at the end of December 2025. Investments stood at around Rs9.93 trillion, while advances amounted to approximately Rs1.48 trillion. Deposits and other accounts were reported at around Rs5.39 trillion.

The bank’s consolidated net assets stood at approximately Rs422.22 billion at the end of the first quarter, compared with Rs505.29 billion at December 31, 2025. The financial statements also show total equity attributable to UBL shareholders of about Rs422.14 billion, alongside a non-controlling interest of Rs73.58 million.

Outlook

UBL’s first-quarter 2026 results demonstrate a substantial improvement in profitability compared with the same period last year. Higher net mark-up income, stronger non-mark-up income and gains on securities contributed to the increase in earnings, while the bank maintained its shareholder payout through the Rs8 per share interim dividend.

With earnings per share also improving and the Board confirming its leadership arrangements, the first-quarter results provide shareholders and market participants with a detailed view of UBL’s financial performance at the beginning of 2026.

Source: United Bank Limited’s financial results for the quarter ended March 31, 2026, submitted to the Pakistan Stock Exchange.