<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">United Bank Limited (UBL) announced its 1H2017 result today
posting consolidated PAT of Rs13.24bn (EPS: Rs10.82), down 8% YoY, in line with
our expectations. The bank also announced second interim cash dividend of Rs3
per share, taking 1H2017 DPS to Rs6.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">During the 2Q2017, UBL posted 18% YoY decline in earnings,
clocking-in at Rs4.67. Lower earnings were on account of 10% YoY drop in Net
Interest Income (NII). Fee Income trend also remained disappointing, posting 1%
YoY decline during 2Q2017. However, the bank reported a reversal of Rs453mn
under Provisioning Expenses against loans during the quarter. Sequential
earnings dropped by 24% YoY due to Super Tax charge, ...
