United Bank Limited (UBL): Result Review: UBL 2QCY24 EPS Rs11.3 – By Sherman Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">United Bank Limited (UBL) announced 2QCY24 results today wherein the bank posted a consolidated profit-after-tax of Rs13.8bn (EPS Rs11.3). This 12%YoY growth in UBL&rsquo;s net profit was propelled by a 2.8xYoY increase in core income and a reduction in effective tax rate down 3% in 2QCY24.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The bank also announced a dividend of Rs11 per share in 2QCY24 bringing cumulative dividend payout during 1HCY24 to Rs22 per share.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">UBL&rsquo;s interest expense surged to Rs249bn during the period up 3.8xYoY outpacing the growth in interest earned by 100%YoY in 2QCY24, ...