United Bank SaeEGX: UBEE

REG - United Bank Limited - 3rd Quarter Results

Oct 17, 2025 at 11:36 AM UTC · Issued by United Bank Sae

RNS Number : 8810D United Bank Limited 17 October 2025

Secretary's Department

UBL/BOD-257/PSX/Results/25

15 October 2025

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi.

Dear Sir,

Financial Results for the 3rd Quarter Ended 30 September 2025

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 257th meeting held on Wednesday, 15 October 2025 at Islamabad at 10:00 a.m. inter-alia recommended the following:

(i) CASH DIVIDEND

An Interim Cash Dividend for the year Quarter ended 30 September 2025 at Rs.8/- per share i.e.160%. This is addition to interim Dividend already paid at Rs.13.5/- per share i.e.270%

(ii) BONUS SHARES

--- NIL ---

(iii) RIGHT SHARES

--- NIL ---

(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION

--- NIL ---

(v) ANY OTHER PRICE-SENSITIVE INFORMATION

--- NIL ---

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 24 October 2025.

The Share Transfer Books of UBL will remain closed from Monday, 27 October 2025 to Wednesday, 29 October 2025 (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, 24 October 2025 will be treated in time for the purpose of payment of interim cash dividend.

Following Statements are attached:

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 Statement 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 Statement of Cash Flows

The Quarterly financial statements (Quarterly Report) of the Bank for the 3rd Quarter ended 30 September 2025 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 SEPTEMBER 30, 2025

(Un-audited)

(Audited)

September 30, 2025

December 31, 2024

-------------- (Rupees in '000) -----------

ASSETS

Cash and balances with treasury banks

531,013,804

309,745,911

Balances with other banks

70,735,449

59,968,246

Lendings to financial institutions

139,355,737

18,492,483

Investments

8,818,515,414

5,886,894,503

Advances

1,103,393,866

1,443,481,944

Property and equipment

110,871,377

85,246,731

Right-of-use assets

29,703,543

9,896,084

Intangible assets

63,889,434

2,481,475

Deferred tax assets

Other assets

406,662,008

246,924,757

11,274,140,632

8,063,132,134

LIABILITIES

Bills payable

32,655,154

44,221,818

Borrowings

5,724,114,144

4,855,373,516

Deposits and other accounts

4,768,789,701

2,640,211,489

Lease liabilities

32,450,739

12,008,797

Subordinated debt

10,000,000

Deferred tax liabilities

79,656,081

38,959,061

Other liabilities

182,165,257

146,135,202

10,829,831,076

7,746,909,883

NET ASSETS

444,309,556

316,222,251

REPRESENTED BY:

Share capital

12,521,239

12,241,797

Reserves

136,117,024

114,734,831

Surplus on revaluation of assets

139,664,851

77,289,805

Unappropriated profit

156,006,442

111,955,818

444,309,556

316,222,251

CONTINGENCIES AND COMMITMENTS

ANNEXURE - A-2

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

July - September 2025

July - September 2024

January - September 2025

January - September 2024

----------------------------- (Rupees in '000) ----------------------------------

Mark-up / return / interest earned

297,224,588

310,741,852

861,218,417

825,895,798

Mark-up / return / interest expensed

205,250,937

259,148,402

593,822,518

720,664,403

Net mark-up / interest income

91,973,651

51,593,450

267,395,899

105,231,395

Non mark-up / interest income

Fee and commission income

6,754,687

5,844,125

21,259,706

15,893,508

Dividend income

298,810

266,556

1,732,330

1,189,692

Foreign exchange income

4,836,577

3,294,805

12,280,199

9,662,474

Loss from derivatives

(1,313)

(16,176)

(1,255,891)

(41,021)

Gain on securities - net

902,623

5,930,797

9,049,933

24,074,130

Capital gain on derecognition of financial assets measured at amortised cost

2,894,427

Other income

252,267

7,260,557

740,231

7,618,066

Total non mark-up / interest income

13,043,651

22,580,664

43,806,508

61,291,276

Total Income

105,017,302

74,174,114

311,202,407

166,522,671

Non mark-up / Interest expenses

Operating expenses

30,372,033

22,201,169

88,858,478

57,961,029

Workers' Welfare Fund

1,450,463

982,752

4,365,567

2,215,724

Other charges

43,321

155

45,815

32,966

Total non mark-up / interest expenses

31,865,817

23,184,076

93,269,860

60,209,719

Profit before credit loss allowance

73,151,485

50,990,038

217,932,547

106,312,952

Credit loss allowance and write-offs - net

(822,101)

893,529

(4,711,348)

(1,473,236)

Profit before taxation

73,973,586

50,096,509

222,643,895

107,786,188

Taxation

39,270,818

24,556,195

124,150,535

52,800,301

Profit after taxation

34,702,768

25,540,314

98,493,360

54,985,887

------------------------------------- (Rupees) ---------------------------------------

Earnings per share - basic and diluted - Restated

13.86

10.43

39.55

22.46

ANNEXURE A-3 (1 of 2)

UNCONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

Share capital

Share Premium

Capital Reserve - Exchange Translation

Statutory

reserve

Surplus / (Deficit) on revaluation

Unappropriated Profit

Total

Investments

Property and Equipment

Non-banking Assets

---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------

Balance as at January 01, 2024 - as restated

12,241,797

60,922,855

46,878,123

780,037

38,211,793

89,138,112

248,172,717

Total comprehensive income for the nine months ended September 30, 2024

Profit after taxation for the nine months ended September 30, 2024

54,985,887

Other comprehensive income - net of tax

(1,441,633)

51,676,969

5,457

50,240,793

Total comprehensive income for the nine months ended September 30, 2024

(1,441,633)

51,676,969

5,457

54,985,887

105,226,680

Transfer from surplus on revaluation upon disposal to unappropriated profit - net of tax

Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax

(43,869)

43,869

Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax

64,182

(64,182)

Transfer to statutory reserve

5,498,589

(5,498,589)

Transactions with owners, recorded directly in equity

Final cash dividend - December 31, 2023 declared subsequent to the year end at Rs. 11.0 per share

(13,465,977)

Interim cash dividend - March 31, 2024 declared at Rs. 11.0 per share

(13,465,977)

Interim cash dividend - June 30, 2024 declared at Rs. 11.0 per share

(13,465,977)

(40,397,931)

Balance as at September 30, 2024 (Un-audited)

12,241,797

59,481,222

52,376,712

52,521,188

38,173,381

98,207,166

313,001,466

Total comprehensive income for three months ended December 31, 2024

Profit after taxation for the three months ended December 31, 2024

25,541,647

Other comprehensive income - net of tax

322,732

(13,670,045)

313,782

1,146

4,177,500

(8,854,885)

Total comprehensive income for the three months ended December 31, 2024

322,732

(13,670,045)

313,782

1,146

29,719,147

16,686,762

Transfer from surplus on revaluation upon disposal to unappropriated profit - net of tax

Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax

(33,714)

33,714

Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax

(15,933)

15,933

Transfer to statutory reserve

2,554,165

(2,554,165)

Continued on next page

ANNEXURE A-3 (2 of 2)

UNCONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

Share capital

Share Premium

Capital Reserve - Exchange Translation

Statutory

reserve

Surplus / (Deficit) on revaluation

Unappropriated Profit

Total

Investments

Property and Equipment

Non-banking Assets

---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------

Transactions with owners, recorded directly in equity

Interim cash dividend - September 30, 2024

declared at Rs. 11.0 per share

(13,465,977)

Balance as at December 31, 2024 (Audited)

12,241,797

59,803,954

54,930,877

38,835,210

38,453,449

1,146

111,955,818

316,222,251

Effect of reclassification on adoption of IFRS 9 (net of tax)

1,355,745

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 nine months ended

September 30, 2025

Profit after taxation for the nine months ended September 30, 2025

98,493,360

Other comprehensive income - net of tax

1,059,096

63,699,225

64,758,321

Total comprehensive income for the nine months ended September 30, 2025

1,059,096

63,699,225

98,493,360

163,251,681

Transfer from surplus on revaluation upon disposal to unappropriated profit - net of tax

Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax

(52,082)

52,082

Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax

(2,627,840)

2,627,840

Transfer to statutory reserve

9,849,336

(9,849,336)

Shares issued under amalgamation

279,442

10,473,761

10,753,203

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)

Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share

(13,773,363)

Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share

(20,033,982)

(47,273,322)

Balance as at September 30, 2025 (Un-audited)

12,521,239

10,473,761

60,863,050

64,780,213

101,262,340

38,401,365

1,146

156,006,442

444,309,556

ANNEXURE A-4 (1 of 2)

UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

January - September 2025

January - September 2024

-------------- (Rupees in '000) --------------

CASH FLOW FROM OPERATING ACTIVITIES

Profit before taxation

222,643,895

107,786,188

Less: Dividend income

1,732,330

1,189,692

220,911,565

106,596,496

Adjustments:

Depreciation on property and equipment

6,528,435

4,053,854

Depreciation on Islamic financing against leased assets (Ijarah)

102,050

58,652

Depreciation on right-of-use assets

3,014,991

1,782,454

Depreciation on non-banking assets acquired in satisfaction of claims

29,853

2,420

Amortisation

833,959

716,175

Workers' Welfare Fund - charge

4,365,567

2,215,724

Provision for retirement benefits

1,364,137

1,145,073

Provision for compensated absences

109,575

119,882

Credit loss allowance against loans and advances - net

(4,534,504)

(1,142,648)

Credit loss allowance against off - balance sheet obligations - net

198,026

46,676

Credit loss allowance for diminution in value of investments - net

65,525

(250,046)

Interest expense on lease liability against right-of-use assets

2,452,502

1,077,013

Loss / (gain) on sale of Ijarah assets - net

234

(533)

Gain on sale of property and equipment - net

(88,897)

(148,042)

Gain on sale of subsidiary

(7,083,501)

Bad debts written-off directly

58,036

36,211

Unrealised gain on revaluation of investments classified as FVTPL

(42,667)

(261,073)

Credit loss allowance against other assets

45,220

(11,149)

Other credit loss allowance / write-offs

183,670

161,798

14,685,712

2,518,940

235,597,277

109,115,436

(Increase) / Decrease in operating assets

Lendings to financial institutions

(120,863,254)

33,371,115

Securities classified as FVTPL

(208,564,550)

2,936,771

Advances

345,360,053

(5,957,740)

Other assets (excluding advance taxation)

(219,007,360)

(34,308,513)

(203,075,111)

(3,958,367)

Increase / (decrease) in operating liabilities

Bills payable

(11,566,664)

2,187,803

Borrowings

868,740,628

1,488,484,808

Deposits and other accounts

2,128,578,212

487,455,205

Other liabilities

18,429,781

38,602,636

3,004,181,957

2,016,730,452

3,036,704,123

2,121,887,521

Receipts on account of staff retirement benefits

628,616

2,808,765

Income taxes paid

(83,447,204)

(43,115,580)

Net cash flow generated from operating activities

2,953,885,535

2,081,580,706

Continued on next page

January - September 2025

January - September 2024

-------------- (Rupees in '000) --------------

CASH FLOW FROM INVESTING ACTIVITIES

Net investments in securities classified as FVOCI

(2,377,825,293)

(1,991,646,143)

Net investments in amortized cost securities

(213,820,407)

38,842,561

Net investments in subsidiaries

1,855,222

Net investments in associates

9,910

Net cash inflow on amalgamation

15,198,229

Dividend income received

1,715,365

1,156,617

Proceeds realised on sale of subsidiary

9,053,275

Investment in property and equipments and intangible assets

(94,585,879)

(17,988,176)

Sale proceeds from disposal of property and equipments

279,777

168,370

Sale proceeds from disposal of ijarah assets

10,360

27,645

Effect of translation of net investment in overseas branches

1,059,096

(1,441,633)

Net cash flow used in investing activities

(2,667,958,842)

(1,959,972,262)

CASH FLOW FROM FINANCING ACTIVITIES

Payment of lease liability against right-of-use assets

(4,870,019)

(2,693,923)

Payment of sub ordinated debt

(1,998,400)

Dividend paid

(47,023,178)

(40,399,075)

Net cash flow used in financing activities

(53,891,597)

(43,092,998)

Increase / (decrease) in cash and cash equivalents

232,035,096

78,515,446

Cash and cash equivalents at the beginning of the period

367,534,705

309,638,228

Effect of exchange rate changes on cash and cash equivalents

2,179,452

(1,607,260)

369,714,157

308,030,968

Cash and cash equivalents at the end of the period

601,749,253

386,546,414

ANNEXURE B-1

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT SEPTEMBER 30, 2025

(Un-audited)

(Audited)

September 30, 2025

December 31, 2024

----------------- (Rupees in '000) -----------------

ASSETS

Cash and balances with treasury banks

531,920,576

310,836,376

Balances with other banks

70,760,528

59,968,246

Lendings to financial institutions

139,355,737

18,492,483

Investments

8,823,130,334

5,889,765,841

Advances

1,103,393,866

1,443,481,944

Property and equipment

111,180,606

85,591,999

Right-of-use assets

30,058,715

10,231,121

Intangible assets

64,199,450

2,792,016

Deferred tax assets

Other assets

407,407,805

247,937,251

11,281,407,617

8,069,097,277

LIABILITIES

Bills payable

32,655,154

44,221,818

Borrowings

5,724,114,144

4,855,373,516

Deposits and other accounts

4,768,330,238

2,639,875,985

Lease liabilities

32,819,151

12,381,018

Subordinated debt

10,000,000

Deferred tax liabilities

79,926,990

39,311,263

Other liabilities

183,093,736

147,125,664

10,830,939,413

7,748,289,264

NET ASSETS

450,468,204

320,808,013

REPRESENTED BY:

Share capital

12,521,239

12,241,797

Reserves

136,117,024

114,734,831

Surplus on revaluation of assets

139,656,101

77,309,424

Unappropriated profit

162,107,278

116,472,051

Total equity attributable to the equity holders of the Bank

450,401,642

320,758,103

Non-controlling interest

66,562

49,910

450,468,204

320,808,013

CONTINGENCIES AND COMMITMENTS

ANNEXURE B-2

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

July - September 2025

July - September 2024

January - September 2025

January - September 2024

----------------------------- (Rupees in '000) -----------------------------

Mark-up / return / interest earned

297,235,579

310,757,603

861,251,119

825,931,552

Mark-up / return / interest expensed

205,251,701

259,143,899

593,838,387

720,569,733

Net mark-up / interest income

91,983,878

51,613,704

267,412,732

105,361,819

Non-mark-up / interest income

Fee and commission income

7,793,913

6,478,039

24,282,106

17,594,243

Dividend income

287,126

266,556

1,651,515

1,135,079

Foreign exchange income

5,027,596

3,438,925

12,875,535

9,866,476

Loss from derivatives

(1,313)

(16,176)

(1,255,891)

(41,021)

Gain on securities - net

902,623

5,930,797

9,049,933

24,074,130

Capital gain on derecognition of financial assets measured at amortised cost

2,894,427

Other income

238,025

251,270

693,482

864,077

Total non-markup / interest income

14,247,970

16,349,411

47,296,680

56,387,411

Total income

106,231,848

67,963,115

314,709,412

161,749,230

Non-mark-up / interest expenses

Operating expenses

31,034,398

23,024,463

90,688,043

59,576,656

Workers' Welfare Fund

1,468,158

993,613

4,411,327

2,246,109

Other charges

45,124

155

47,618

32,966

Total non-mark-up / interest expenses

32,547,680

24,018,231

95,146,988

61,855,731

Share of profit / (loss) of associates

161,065

426,286

766,500

672,233

Profit before credit loss allowance from continuing operations

73,845,233

44,371,170

220,328,924

100,565,732

Credit loss allowance and write-offs - net

(822,101)

893,528

(4,711,348)

(1,473,236)

Profit before taxation from continuing operations

74,667,334

43,477,642

225,040,272

102,038,968

Taxation

39,304,932

24,747,107

124,945,657

53,249,350

Profit after taxation from continuing operations

35,362,402

18,730,535

100,094,615

48,789,618

Discontinued operation

(Loss) / gain from discontinued operation - net of tax

(409,151)

938,610

35,362,402

18,321,384

100,094,615

49,728,228

Attributable to:

Equity holders of the Bank

from continuing operations

35,355,263

18,728,087

100,077,963

48,780,590

from discontinued operation

(409,151)

332,118

35,355,263

18,318,936

100,077,963

49,112,708

Non-controlling interest

from continuing operations

7,139

2,448

16,652

9,028

from discontinued operation

606,492

7,139

2,448

16,652

615,520

35,362,402

18,321,384

100,094,615

49,728,228

--------------------------------------- (Rupees) ---------------------------------------

Earnings per share for profit from continuing operations

attributable to the equity holders of the Bank

Basic and diluted

14.12

7.65

40.19

19.92

Earnings per share for profit attributable to the equity

holders of the Bank

Basic and diluted

14.12

7.48

40.19

20.06

ANNEXURE B-3 (1 of 2)

CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

Share capital

Share Premium

Statutory Reserve

Capital Reserve - Exchange Translation

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, 2024 - as restated

12,241,797

46,878,123

69,893,293

(192,993)

41,795,310

96,024,872

266,640,402

14,904,379

281,544,781

Total comprehensive income for the nine months ended September 30, 2024

Profit after taxation for the nine months ended September 30, 2024

49,112,708

615,520

49,728,228

Other comprehensive income - net of tax

(10,412,070)

52,129,808

(61,237)

41,656,501

112,491

41,768,992

Total comprehensive income for the nine months ended September 30, 2024

(10,412,070)

52,129,808

(61,237)

49,112,708

90,769,209

728,011

91,497,220

Transfer from surplus on revaluation upon disposal to unappropriated profit - net of tax

(22,930)

22,930

Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax

(63,841)

63,841

Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax

61,377

(61,377)

Transfer to statutory reserve

5,498,589

(5,498,589)

Derecognition of subsidiary

535,734

(3,492,963)

2,957,229

(15,590,116)

Transactions with owners for the nine months ended September 30, 2024, recorded directly in equity

Final cash dividend - December 31, 2023 declared subsequent to the year end at Rs. 11.0 per share

(13,465,977)

Interim cash dividend - March 31, 2024 declared at Rs. 11.0 per share

(13,465,977)

Interim cash dividend - June 30, 2024

declared at Rs. 11.0 per share

(13,465,977)

(40,397,931)

Balance as at September 30, 2024 (Un-audited)

12,241,797

52,376,712

59,481,223

52,533,926

38,154,339

102,223,683

317,011,680

42,274

317,053,954

Total comprehensive income for the three months ended December 31, 2024

Profit after taxation for the three months ended December 31, 2024

26,043,145

6,071

26,049,216

Other comprehensive income - net of tax

322,731

(13,665,969)

313,782

1,146

4,197,565

(8,830,745)

1,565

(8,829,180)

Total comprehensive income for the three months ended December 31, 2024

322,731

(13,665,969)

313,782

1,146

30,240,710

17,212,400

7,636

17,220,036

Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax

(14,672)

14,672

Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax

(13,128)

13,128

Transfer to statutory reserve

2,554,165

(2,554,165)

Continued on next page

ANNEXURE B-3 (2 of 2)

CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

Share capital

Share Premium

Statutory Reserve

Capital Reserve - Exchange Translation

Surplus / (Deficit) on revaluation

Unappropriated Profit

Sub total

Non-controlling interest

Total

Investments

Property and Equipment

Non-banking Assets

---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------

Transactions with owners for the three months ended December 31, 2024, recorded directly in equity

Interim cash dividend - September 30, 2024

declared at Rs. 11.0 per share

(13,465,977)

Balance as at January 01, 2025 (Audited)

12,241,797

54,930,877

59,803,954

38,854,829

38,453,449

1,146

116,472,051

320,758,103

49,910

320,808,013

Effect of remeasurement on adoption of IFRS 9 (net of tax)

1,355,745

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

322,133,848

49,910

322,163,758

Total comprehensive income for the nine months ended September 30, 2025

Profit after taxation for the nine months ended September 30, 2025

100,077,963

16,652

100,094,615

Other comprehensive income - net of tax

1,059,096

63,670,854

64,729,950

Total comprehensive income for the nine months ended September 30, 2025

1,059,096

63,670,854

100,077,963

164,807,913

16,652

164,824,565

Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax

(52,082)

52,082

Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax

(2,627,840)

2,627,840

Transfer to statutory reserve

9,849,336

(9,849,336)

Shares issued under amalgamation

279,442

10,473,761

10,753,203

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)

Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share

(13,773,363)

Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share

(20,033,982)

(47,273,322)

Balance as at September 30, 2025 (Un-audited)

12,521,239

10,473,761

64,780,213

60,863,050

101,253,588

38,401,367

1,146

162,107,278

450,401,642

66,562

450,468,204

ANNEXURE B-4 (1 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

January - September 2025

January - September 2024

----------------- (Rupees in '000) -----------------

CASH FLOW FROM OPERATING ACTIVITIES

Profit before taxation including discontinued operations

225,040,272

103,711,492

Less: Dividend income

1,651,515

1,135,079

Less: Share of profit of associates

766,500

672,233

222,622,257

101,904,180

Adjustments:

Depreciation on property and equipment

6,602,878

4,097,614

Depreciation on Islamic financing against leased assets (ijarah)

102,050

58,652

Depreciation on right-of-use assets

3,074,120

1,820,179

Depreciation on non-banking assets acquired in satisfaction of claims

29,853

2,420

Amortisation

844,119

727,292

Workers' Welfare Fund - charge

4,411,327

2,246,109

Provision for retirement benefits

1,378,476

1,305,473

Provision for compensated absences

109,575

128,055

Credit loss allowance against loans and advances - net

(4,534,504)

(1,142,648)

Credit loss allowance against off - balance sheet obligations - net

198,026

46,676

Credit loss allowance for diminution in value of investments - net

65,525

(250,046)

Interest expense on lease liability against right-of-use assets

2,481,903

1,088,176

Loss / (gain) on sale of Ijarah assets - net

234

(533)

Gain on sale of property and equipments - net

(89,048)

(148,042)

Transfer of exchange translation reserve to profit and loss on derecognition of subsidiary

(8,706,711)

Bad debts written-off directly

58,036

36,211

Unrealised gain on revaluation of investments classified as FVTPL

(42,667)

(261,073)

Credit loss allowance against other assets

45,220

(11,149)

Other credit loss allowance / write-offs

183,670

161,798

14,918,793

1,198,453

237,541,050

103,102,633

(Increase) / decrease in operating assets

Lendings to financial institutions

(120,863,254)

37,356,267

Securities classified as FVTPL

(208,564,550)

3,202,339

Advances

345,360,053

(55,502,873)

Other assets (excluding advance taxation)

(215,587,050)

(34,917,450)

(199,654,801)

(49,861,717)

Increase / (decrease) in operating liabilities

Bills payable

(11,566,664)

2,116,644

Borrowings

868,740,628

1,482,063,705

Deposits and other accounts

2,128,454,253

532,711,096

Other liabilities

18,115,688

38,459,758

3,003,743,905

2,055,351,203

3,041,630,154

2,108,592,119

(Payments) / receipts on account of staff retirement benefits

628,529

2,742,669

Income taxes paid

(83,919,249)

(43,778,709)

Net cash flow generated from operating activities

2,958,339,434

2,067,556,079

Continued on next page

ANNEXURE B-4 (2 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

January - September 2025

January - September 2024

----------------- (Rupees in '000) -----------------

CASH FLOW FROM INVESTING ACTIVITIES

Net investments in securities classified as FVOCI

(2,380,475,512)

(1,977,409,691)

Net investments in amortized cost securities

(213,820,407)

38,842,560

Net investments in associates

(1,752,858)

(1,454,863)

Net cash inflow on amalgamation

15,198,229

Dividend income received

1,668,480

1,102,004

Proceeds realised on sale of subsidiary

9,053,275

Investment in property and equipments and intangible assets

(94,637,486)

(18,154,200)

Sale proceeds from disposal of property and equipments

283,496

168,370

Sale proceeds from disposal of ijarah assets

27,645

Effect of translation of net investment in overseas branches

1,059,096

(1,924,494)

Net cash flow used in investing activities

(2,672,449,317)

(1,949,749,394)

CASH FLOW FROM FINANCING ACTIVITIES

Payment of lease liability against right-of-use assets

(4,992,057)

(2,755,882)

Payment of subordinated debt

(1,998,400)

Dividend paid

(47,023,178)

(40,399,075)

Net cash flow used in financing activities

(54,013,635)

(43,154,957)

Increase in cash and cash equivalents

231,876,482

74,651,728

Cash and cash equivalents at the beginning of the period

368,625,170

312,294,647

Effect of exchange rate changes on cash and cash equivalents

2,179,452

(1,508,516)

370,804,622

310,786,131

Cash and cash equivalents of subsidiary at disposal date

1,796,950

Cash and cash equivalents at the end of the period

602,681,104

387,234,809

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