March 2026 Quarterly Report (UBL Financials March 2026)

BEYOND LIMITS, INTO THE FUTURE

QUARTERLY REPORT (UN-AUDITED) MARCH 31, 2026

Company Information 02

Directors' Report to the Members 03

Unconsolidated Condensed Interim Financial Statements 05

Unconsolidated Condensed Interim Statement of Financial Position 06

Unconsolidated Condensed Interim Profit and Loss Account 07

Unconsolidated Condensed Interim Statement of Comprehensive Income 08

Unconsolidated Condensed Interim Statement of Changes in Equity 09

Unconsolidated Condensed Interim Cash Flow Statement 10

Notes to the Unconsolidated Condensed Interim Financial Statements 11

Consolidated Condensed Interim Financial Statements 45

Consolidated Condensed Interim Statement of Financial Position 46

Consolidated Condensed Interim Profit and Loss Account 47

Consolidated Condensed Interim Statement of Comprehensive Income 48

Consolidated Condensed Interim Statement of Changes in Equity 49

Consolidated Condensed Interim Cash Flow Statement 50

Notes to the Consolidated Condensed Interim Financial Statements 51

Directors' Report to the Members (Urdu) 82

BOARD OF DIRECTORS

Lord Zameer M. Choudrey, CBE, SI Pk Chairman/Non-Executive Director

Sir Mohammed Anwar Pervez, OBE, H Pk Non-Executive Director

The Honourable Haider Zameer Choudrey Non-Executive Director

Mr. Rizwan Pervez

Non-Executive Director

Ms. Shazia Syed Independent Director

Mr. Daniel M. Howlett Independent Director

Mr. Muhammad Irfan A. Sheikh Non-Executive Director

Mr. Ariful Islam Independent Director

Mr. Muhammad Jawaid Iqbal President & CEO

COMMITTEES OF THE BOARD BOARD AUDIT COMMITTEE (BAC):

Ms. Shazia Syed Chairperson The Honourable Haider Zameer Choudrey Member

Mr. Rizwan Pervez Member

Mr. Muhammad Irfan A. Sheikh Member

Mr. Ariful Islam Member

Mr. Aqeel Ahmed Nasir Secretary

BOARD HUMAN RESOURCE & COMPENSATION COMMITTEE (HRCC):

Ms. Shazia Syed Chairperson Sir Mohammed Anwar Pervez, OBE, H Pk Member Lord Zameer M. Choudrey, CBE, SI Pk Member The Honourable Haider Zameer Choudrey Member

Ms. Hafsa Abbasy Secretary

BOARD RISK & COMPLIANCE COMMITTEE (BRCC):

Mr. Daniel M. Howlett Chairman The Honourable Haider Zameer Choudrey Member Mr. Rizwan Pervez Member

Mr. Muhammad Irfan A. Sheikh Member

Ms. Shazia Syed Member

Mr. Muhammad Jawaid Iqbal Member

Mr. Imran Sarwar Secretary

BOARD IT COMMITTEE (BITC):

Mr. Ariful Islam Chairman

Lord Zameer M. Choudrey, CBE, SI Pk Member The Honourable Haider Zameer Choudrey Member Mr. Daniel M. Howlett Member

Mr. Muhammad Irfan A. Sheikh Member

Mr. Muhammad Jawaid Iqbal Member

Mr. Sohail Aziz Secretary

BOARD NOMINATION COMMITTEE (BNC):

Sir Mohammed Anwar Pervez, OBE, H Pk Chairman Lord Zameer M. Choudrey, CBE, SI Pk Member The Honourable Haider Zameer Choudrey Member Mr. Aqeel Ahmed Nasir Secretary

BOARD INTERNATIONAL COMMITTEE (BIC):

Mr. Daniel M. Howlett Chairman Lord Zameer M. Choudrey, CBE, SI Pk Member The Honourable Haider Zameer Choudrey Member Mr. Ariful Islam Member

Mr. Muhammad Jawaid Iqbal Member

Mr. Munawar Raza Shah Secretary

Chief Financial Officer

Syed Manzoor Hussain Zaidi

Company Secretary & Chief Legal Counsel

Mr. Aqeel Ahmed Nasir

Registered Office:

13th Floor, UBL Building, Jinnah Avenue, Blue Area, Islamabad.

UBL Head Office

I.I. Chundrigar Road, Karachi - 74000, Pakistan.

Share Registrar

THK Associates (Pvt.) Limited

Plot No. 32-C, Jami Commercial Street - 2

D.H.A. Phase VII,

Karachi - 75500.

Phone No.: 021-35310187

UAN: 021-111-000-322

Fax No.: 021-35310190

Email: sfc@thk.com.pk

Auditors

M/s. EY Ford Rhodes Chartered Accountants

Legal Advisors

M/s. Mehmood Abdul Ghani & Co. Advocates

Contacts

UAN: 111-825-111

Contact Centre: 111-825-888 Website: https://www.ubldigital.com

Email: customer.services@ubl.com.pk

On behalf of the Board of Directors, we are pleased to present the financial statements of United Bank Limited (UBL) for the three months ending March 31, 2026.

On a standalone basis, UBL recorded Profit Before Tax (PBT) of Rs. 102.1 billion for the three months ending March 31st, 2026, reflecting 35% year-on-year growth. Profit After Tax (PAT) stood at Rs. 49.0 billion for Q1'26, compared to Rs. 35.6 billion for Q1'25. Earnings per share (EPS) rose to Rs. 19.56 from Rs. 14.46 in the corresponding period last year. On a consolidated basis, UBL reported PAT of Rs. 48.4 billion (Q1'25: Rs. 36.1 billion) with a consolidated EPS of Rs. 19.33 (Q1'25: Rs. 14.67).

The Board of Directors declared an interim cash dividend of Rs. 8 per share in their meeting held in Islamabad on April 15th, 2026, along with the results for the three months ending March 31, 2026.

The Bank's gross revenues were Rs. 141.6 billion in Q1'26, a year-on-year growth of 42% with net mark-up income growing steadily to Rs. 99.4 billion. The Bank earned non-markup income of Rs. 42.2 billion in Q1'26 underpinned by broad-based growth in core revenues. Fees and commission income was Rs. 7.8 billion in Q1'26, having grown by 21% year-on-year. Growth was driven by card related fees, solid trade, corporate service and investment banking income, and UBL's continued leadership in domestic home remittances.

Operating expenses increased by 54% year-on-year, standing at Rs. 38.0 billion in Q1'26. This was driven by staff costs increasing by 41% year-on-year to Rs. 13.7 billion, property related expenses rising 50% year-on-year to Rs. 5.1 billion and IT expenses increasing 31% year-on-year to Rs. 3.2 billion. Net provision reversal of Rs. 0.5 billion was recorded in Q1'26 against a net provision reversal of Rs. 1.6 billion in Q1'25 reflecting continued recovery momentum.

The bank maintains a disciplined capital base designed to support future growth while sustaining adequate buffers above regulatory requirements. The consolidated CAR stood at 16.35% as of Mar'26 (Dec'25: 20.97%), with a buffer of 3.3% above the minimum regulatory requirement of 13.0%. The Common Equity Tier 1 (CET-1) ratio stood at 15.35% as of Mar'26 (Dec'25: 15.92%). The Total Tier 1 Capital ratio was 15.71% as of Mar'26 (Dec'25: 16.31%).

VIS Credit Rating Company Limited (VIS) re-affirmed the entity rating of UBL at ''AAA / A-1+" (Triple A / A-One Plus) on June 30, 2025. Moreover, UBL's Additional Tier-1 (ADT-1) TFC has also been re-affirmed at 'AA+' (Double A plus). Outlook on the assigned ratings is 'Stable'.

UBL is well positioned to build on the broad-based momentum that the bank demonstrated across all core operating areas last year. First quarter results are a testament to our focus on delivering continued profitability and returns for our stakeholders. However, macroeconomic uncertainty has intensified owing to the turmoil in the Middle East, as the government navigates the challenging task of containing inflation and safeguarding reserves without derailing growth.

While initial assessment suggests that key macroeconomic indicators for FY'26 will remain within the ranges projected earlier, the scale and duration of the conflict will be important in determining the final impact on the domestic economy.

Despite the economic uncertainty, UBL remains committed to delivering a resilient performance in 2026 by growing our customer base, increasing deposit market share with an enhanced focus on trade and maintaining our position in the home remittance space. Branch Banking remains the cornerstone of our franchise and we will continue to expand both our conventional and Islamic networks while elevating our service standards. The Bank will continue to invest in technological capabilities to reinforce its position as the country's leading Digital Bank while increasing operational efficiencies and strengthening cyber security. With our strong domestic franchise and solid investment portfolio, we remain confident in our ability to deliver a sustained performance in 2026.

On behalf of the Board of Directors, we would like to express our appreciation to UBL's customers and shareholders for their continued trust in the UBL brand and to the UBL staff for their commitment and dedication. We would also like to extend our gratitude to the Government of Pakistan, the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan and other regulatory bodies for their continuous guidance and support.

Muhammad Jawaid Iqbal President & CEO

Daniel Michael Howlett Director

Islamabad, April 15, 2026

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2026

FOR THE THREE MONTHS ENDED MARCH 31, 2026

The annexed notes 1 to 45 form an integral part of these unconsolidated condensed interim financial statements.

Syed Manzoor Hussain Zaidi

Chief Financial Officer

Muhammad Jawaid Iqbal

President &

Chief Executive Officer

Shazia Syed

Director

Daniel Michael Howlett

Director

Lord Zameer M. Choudrey, CBE, SI Pk

Chairman

UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

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

FOR THE THREE MONTHS ENDED MARCH 31, 2026

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

Earnings per share - basic and diluted - Restated 36 19.56 14.46

The annexed notes 1 to 45 form an integral part of these unconsolidated condensed interim financial statements.

Syed Manzoor Hussain Zaidi

Chief Financial Officer

Muhammad Jawaid Iqbal

President &

Chief Executive Officer

Shazia Syed

Director

Daniel Michael Howlett

Director

Lord Zameer M. Choudrey, CBE, SI Pk

Chairman

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

January -March 2026

January -March 2025

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

The annexed notes 1 to 45 form an integral part of these unconsolidated condensed interim financial statements.

Syed Manzoor Hussain Zaidi

Chief Financial Officer

Muhammad Jawaid Iqbal

President &

Chief Executive Officer

Shazia Syed

Director

Daniel Michael Howlett

Director

Lord Zameer M. Choudrey, CBE, SI Pk

Chairman

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

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

FOR THE THREE MONTHS ENDED MARCH 31, 2026

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

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)

Balance as at March 31, 2026 (Un-audited) 12,521,239 10,473,761 59,824,568 2,022,063 72,629,547 17,228,904 38,375,488 1,146 203,098,656 416,175,372

The annexed notes 1 to 45 form an integral part of these unconsolidated condensed interim financial statements.

Syed Manzoor Hussain Zaidi

Chief Financial Officer

Muhammad Jawaid Iqbal

President &

Chief Executive Officer

Shazia Syed

Director

Daniel Michael Howlett

Director

Lord Zameer M. Choudrey, CBE, SI Pk

Chairman

UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

FOR THE THREE MONTHS ENDED MARCH 31, 2026

January -March 2026

January - March 2025

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

The annexed notes 1 to 45 form an integral part of these unconsolidated condensed interim financial statements.

Syed Manzoor Hussain Zaidi

Chief Financial Officer

Muhammad Jawaid Iqbal

President &

Chief Executive Officer

Shazia Syed

Director

Daniel Michael Howlett

Director

Lord Zameer M. Choudrey, CBE, SI Pk

Chairman

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

1. STATUS AND NATURE OF BUSINESS

   United Bank Limited (the Bank) is a banking company incorporated in Pakistan and is engaged in commercial banking and related services. The Bank's registered office and principal office are situated at UBL Building, Jinnah Avenue, Blue Area, Islamabad and at UBL Head Office, I. I. Chundrigar Road, Karachi respectively. The Bank operates 2,033 (December 31, 2025: 2,009) branches inside Pakistan including 775 (December 31, 2025: 752) Islamic Banking branches and 2 (December 31, 2025: 2) branches in Export Processing Zones. The Bank also operates 8 (December 31, 2025: 8) branches outside Pakistan. The Bank is a subsidiary of Bestway International Holdings Limited (BIHL) and BIHL is a wholly owned subsidiary of Bestway Group Limited (BGL), both of which have been incorporated in the Guernsey.

   The Bank's ordinary shares are listed on Pakistan Stock Exchange (PSX). Its Global Depository Receipts (GDRs) are on the list of the UK Listing Authority and the London Stock Exchange Professional Securities Market. These GDRs are also eligible for trading on the International Order Book System of the London Stock Exchange. Further, the GDRs constitute an offering in the United States only to qualified institutional buyers in reliance on Rule 144A under the US Securities Act of 1933 and an offering outside the United States in reliance on Regulation S.

2. BASIS OF PRESENTATION

   These unconsolidated condensed interim financial statements have been prepared in conformity with the format of interim financial statements prescribed by the State Bank of Pakistan (SBP) vide BPRD Circular No. 2 dated February 09, 2023.

   In accordance with the directives of the Federal Government regarding the shifting of the banking system to Islamic mode. The SBP has issued various circulars from time to time. Permissible forms of trade-related modes of financing includes purchase of goods by banks from customers and immediate resale to them at appropriate profit in price on deferred payment basis. The purchase and resale arising under these arrangements are not reflected in these unconsolidated condensed interim financial statements as such, but are restricted to the amount of facility actually utilised and the appropriate portion of profit thereon.

   Key financial figures of the Islamic Banking branches are disclosed in note 41 to these unconsolidated condensed interim financial statements.

   1. STATEMENT OF COMPLIANCE

      These unconsolidated condensed interim financial statements of the Bank have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of:

      • International Accounting Standard 34 "Interim Financial Reporting" and IFRS Accounting Standards (IFRS) issued by the International Accounting Standards Board (IASB) as are notified under the Companies Act, 2017;

      • Islamic Financial Accounting Standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan as are notified under the Companies Act, 2017;

      • Provisions of and directives issued under the Banking Companies Ordinance, 1962 and the Companies Act, 2017; and

      • Directives issued by the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP).

      Whenever the requirements of the Banking Companies Ordinance, 1962, the Companies Act, 2017 or the directives issued by the SBP and the SECP differ with the requirements of IFRS or IFAS, the requirements of the Banking Companies Ordinance, 1962, the Companies Act, 2017 and the said directives shall prevail.

      The SBP vide BSD Circular Letter No. 10, dated August 26, 2002 has deferred the applicability of International Accounting Standard 40, Investment Property for banking companies till further instructions. Moreover, SBP vide BPRD Circular No. 4, dated February 25, 2015 has deferred the applicability of Islamic Financial Accounting Standards (IFAS) 3, Profit and Loss Sharing on Deposits. Accordingly, the requirements of these standards have not been considered in the preparation of these unconsolidated condensed interim financial statements.

      The SECP vide its notification SRO 633 (I)/2014 dated July 10, 2014, adopted IFRS 10 effective from the periods starting from June 30, 2014. However, vide its notification SRO 56 (I)/2016 dated January 28, 2016, it has been notified that the requirements of IFRS 10 and section 228 of the Companies Act, 2017 will not be applicable with respect to the investment in mutual funds established under trust structure.

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      The disclosures made in these unconsolidated condensed interim financial statements have been limited based on a format prescribed by the SBP vide BPRD Circular Letter No. 2 dated February 09, 2023 and IAS 34, Interim Financial Reporting. They do not include all the information and disclosures required in preparation of audited annual financial statements, and should be read in conjunction with the audited unconsolidated financial statements of the Bank for the year ended December 31, 2025.

      These unconsolidated condensed interim financial statements represent the separate condensed interim financial statements of the Bank. The consolidated condensed interim financial statements of the Bank and its subsidiary companies are presented separately.

   2. Standards, interpretations and amendments to accounting standards that have become effective in the current year

      There are certain amendments to existing accounting and reporting standards that have become applicable to the Bank for accounting periods beginning on or after January 01, 2026. These are neither considered relevant nor have any significant impact and accordingly have not been detailed in these unconsolidated condensed interim financial statements.

   3. Standards, interpretations and amendments to accounting standards that are not yet effective

      There are various amendments to accounting and reporting standards as applicable in Pakistan that are not yet effective.

      Standard, Interpretation or Amendment

      Translation to a Hyperinflationary Presentation Currency - Amendments to IAS 21

      Effective date (annual periods beginning on or after)

      January 01, 2027

      IFRS 18 - Presentation and Disclosure in Financial Statements January 01, 2027

      IFRS 19 - Subsidiaries without Public Accountability: Disclosures

      Sale or Contribution of Assets between an Investor and its Associate or Joint Venture - Amendments to IFRS 10 and IAS 28

      January 01, 2027

      Not yet finalised.

      Further, following new standards have been issued by IASB which are yet to be notified by the SECP for the purpose of applicability in Pakistan.

      Standard

      IFRS 1 - First time adoption of International Financial Reporting Standards

      IASB Effective date (annual periods beginning on or after)

      January 01, 2004

      The above standards and amendments are not expected to have any significant impact on Bank's unconsolidated condensed interim financial statements for future periods, except for IFRS 18.

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

3. MATERIAL ACCOUNTING POLICIES

   The accounting policies adopted in the preparation of these unconsolidated condensed interim financial statements are consistent with those applied in the preparation of the unconsolidated financial statements of the Bank for the year ended December 31, 2025, except as disclosed in Notes 3.1.

   1. Financial Instruments - Effective Interest Rate Method

      The Bank has adopted the Effective Interest Rate (EIR) method in accordance with IFRS 9 for the recognition of interest income and expense on financial assets and liabilities measured at amortised cost and at fair value through other comprehensive income (FVOCI).

      Under the EIR method, contractual interest, fees, transaction costs, and other premiums or discounts are incorporated into the calculation of the effective yield and allocated over the expected life of the instrument. Any changes in estimated future cash flows are reflected prospectively by adjusting the carrying amount and recognising income or expense using the revised EIR.

      On transition to IFRS 9, the Bank recorded an adjustment of Rs. 315.991 million net of tax to retained earnings through the modified retrospective approach. This adjustment represents the cumulative impact of applying IFRS 9 at the date of initial application, without restating comparative information.

4. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

   The preparation of these unconsolidated condensed interim financial statements in conformity with the accounting and reporting standards as applicable in Pakistan requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and income and expenses. It also requires management to exercise judgment in the application of its accounting policies. The estimates and assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. These estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

   The significant judgments made by management in applying its accounting policies and the key sources of estimation uncertainty were the same as those applied to the unconsolidated financial statements of the Bank for the year ended

5. FINANCIAL RISK MANAGEMENT

   The financial risk management objectives and policies adopted by the Bank are consistent with those disclosed in the unconsolidated financial statements for the year ended December 31, 2025.

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   (Un-audited) (Audited)

   March 31,

   2026

   December 31,

   2025

6. CASH AND BALANCES WITH TREASURY BANKS

   In hand

   Local currency Foreign currencies

   With State Bank of Pakistan in Local currency current accounts

   Foreign currency current accounts Foreign currency deposit accounts

   With other central banks in

   Foreign currency current accounts Foreign currency deposit accounts

   With National Bank of Pakistan in Local currency current accounts Foreign currency deposit accounts

   Note

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

   101,953,242	69,558,056
   81,688,005	27,177,215

   183,641,247 96,735,271

   140,170,081	154,773,588
   8,046,923	8,224,165
   13,293,362	12,157,685

   161,510,366 175,155,438

   149,066,664	175,790,193
   10,365,123	34,048,154

   159,431,787 209,838,347

   69,954,578	65,643,246
   -	-

   69,954,578 65,643,246

   National prize bonds 324,346 328,048

   574,862,324 547,700,350

   Less: Credit loss allowance held against cash and balances with treasury banks 6.1 (53,933) (53,371) Cash and balances with treasury banks - net of credit loss allowance 574,808,391 547,646,979

   1. Cash and balances with treasury banks are all classified as Stage 1.

7. BALANCES WITH OTHER BANKS

   In Pakistan

   In deposit accounts 7 7

   Outside Pakistan

   In current accounts		58,941,623	54,393,530
   In deposit accounts		6,911,404	2,786,237
   		65,853,027	57,179,767
   		65,853,034	57,179,774
   Less: Credit loss allowance held against balances with other banks	7.1	(134)	(97)
   Balances with other banks - net of credit loss allowance		65,852,900	57,179,677
   7.1 Balances with other banks are all classified as Stage 1.

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   (Un-audited) (Audited)

   March 31,

   2026

   December 31,

   2025

8. LENDINGS TO FINANCIAL INSTITUTIONS Note ------- (Rupees in '000) -------

   Repurchase agreement lendings (Reverse Repo)		-	17,000,000
   Bai Muajjal receivable with Scheduled bank / financial institution		-	14,574,547
   		-	31,574,547
   Less: Credit loss allowance held against lending to financial institutions	8.1	- -

   Lending to financial institutions - net of credit loss allowance - 31,574,547

   1. Lendings to financial institutions are all classified as stage 1.

9. INVESTMENTS

   March 31, 2026 (Un-audited)

   December 31, 2025 (Audited)

   Cost / Amortised cost

   Credit loss allowance

   Surplus / (Deficit)

   Carrying Value

   Cost / Amortised cost

   Credit loss allowance

   Surplus / (Deficit)

   Carrying Value

   1. Investments by type

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

      FVPL
      Federal Government Securities	187,993,026	-	(293,388)	187,699,638	64,677,109	-	250,256	64,927,365
      Shares and units	14,235,219	-	(1,924,344)	12,310,875	-	-	-	-
      Non-Government debt securities	1,864,867	-	-	1,864,867	1,864,880	-	-	1,864,880
      	204,093,112	-	(2,217,732)	201,875,380	66,541,989	-	250,256	66,792,245
      FVOCI
      Federal Government securities	8,315,658,555	(530,874)	35,918,141	8,351,045,822	8,503,717,699	(1,407,799)	269,560,695	8,771,870,595
      Shares and units	7,797,279	-	2,923,417	10,720,696	12,426,559	-	11,920,430	24,346,989
      Non-Government debt securities	9,509,685	(251,655)	(500,878)	8,757,152	5,786,339	(216,281)	107,432	5,677,490
      Foreign securities	355,304,423	(33,183)	(2,447,130)	352,824,110	395,186,313	(43,909)	(353,358)	394,789,046
      	8,688,269,942	(815,712)	35,893,550	8,723,347,780	8,917,116,910	(1,667,989)	281,235,199	9,196,684,120
      Amortized cost
      Federal Government securities	957,884,369	(76,845)	-	957,807,524	651,708,282	(138,688)	-	651,569,594
      Non-Government debt securities	13,545,115	(452,537)	-	13,092,578	13,598,680	(833,639)	-	12,765,041
      Foreign securities	17,708,992	(9,163)	-	17,699,829	20,908,768	(15,028)	-	20,893,740
      	989,138,476	(538,545)	-	988,599,931	686,215,730	(987,355)	-	685,228,375
      Associates	9,367,549	(1,057,485)	-	8,310,064	1,307,395	(1,057,485)	-	249,910
      Subsidiaries	2,100,000	-	-	2,100,000	2,100,000	-	-	2,100,000
      Total Investments	9,892,969,079	(2,411,742)	33,675,818	9,924,233,155	9,673,282,024	(3,712,829)	281,485,455	9,951,054,650
      							(Un-audited) March 31, 2026	(Audited) December 31, 2025

      1. Investments given as collateral Note

         Federal Government securities

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

         Market Treasury Bills		-	2,746,493
         Pakistan Investment Bonds		6,452,122,160	6,422,520,807
         Foreign securities		46,120,027	11,342,262
         		6,498,242,187	6,436,609,562
         9.1.1.1 The market value of securities given as collateral is Rs. 6,544,387 million (December 31, 2025: Rs. 6,629,601 million).
         9.2 Credit loss allowance for diminution in value of investments
         Opening balance		3,712,829	4,071,592
         Acquisitions through business combination		-	-
         Exchange adjustments		(8,119)	7,643
         Charge / (reversals)
         Charge for the period / year		111,836	660,392
         Reversals for the period / year		(1,399,329)	(1,026,798)
         Reversal on disposals for the period / year		(5,475)	-
         Amounts written off	34	(1,292,968) -	(366,406) -
         Closing balance		2,411,742	3,712,829

         NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

         NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

         FOR THE THREE MONTHS ENDED MARCH 31, 2026

   2. .1 Particulars of credit loss allowance against debt securities

      March 31, 2026 (Un-audited)

      December 31, 2025 (Audited)

      Outstanding amount

      Credit loss allowance held

      Outstanding amount

      Credit loss allowance held

      Category of classification -------------------------------- (Rupees in '000) ----------------------------------

      Domestic
      Performing		Stage 1	9,370,522,544	103	9,135,503,335	91
      Under performing		Stage 2	-	-	-	-
      Non-performing
      	Substandard Doubtful	Stage 3	- -	- -	- -		- -
      	Loss		588,175	588,175	593,594		593,594
      	Overseas
      	Performing	Stage 1	488,358,313	765,979	521,231,980		2,061,659
      	Under performing	Stage 2	-	-	119,161		-
      	Non-performing
      	Substandard Doubtful	Stage 3	- -	- -	- -		- -
      	Loss		-	-	-		-
      	Total		9,859,469,032	1,354,257	9,657,448,070		2,655,344
      9.3	Summary of financial position and performance of associates and subsidiaries

      March 31, 2026 (Un-audited)

      Country of Incorporation

      Holding Assets

      Liabilities Revenue

      Profit after tax

      Total comprehensive income for the period

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

      Associates

      UBL Financial Sector Fund	Pakistan	9.31%	6,794,046	46,132	411,848	237,377	237,377
      UBL Stock Advantage Fund	Pakistan	9.87%	30,996,358	209,726	2,067,871	1,168,896	1,168,896
      Al Ameen Shariah Stock Fund	Pakistan	9.37%	28,515,150	209,731	2,608,585	1,794,732	1,794,732
      UBL Insurers Limited	Pakistan	30.00%	13,010,800	10,172,364	608,078	21,386	25,106
      Khushhali Microfinance Bank Limited	Pakistan	27.82%	128,455,696	143,488,703	3,953,125	1,187,323	1,163,065

      Subsidiaries

      UBL Fund Managers Limited	Pakistan	98.87%	7,547,002	1,028,508	901,710	277,034	277,034
      UBL Currency Exchange (Private) Limited	Pakistan	100.00%	2,677,396	509,032	276,653	44,344	44,344

      March 31, 2025 (Un-audited)

      Country of Incorporation

      Holding Assets Liabilities Revenue Profit after tax

      Total comprehensive income for the period

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

      Associates

      UBL Insurers Limited	Pakistan	30.00%	13,544,471	10,485,768	571,770	196,293	195,663
      Khushhali Microfinance Bank Limited	Pakistan	27.82%	107,205,123	125,753,869	1,754,546	(188,685)	(188,855)

      Subsidiaries

      UBL Fund Managers Limited	Pakistan	98.87%	5,768,780	915,756	1,110,696	429,229	429,229
      UBL Currency Exchange (Private) Limited	Pakistan	100.00%	2,523,291	528,654	248,602	31,907	29,655

      9.4 The market value of securities classified as amortised cost as at March 31, 2026 amounted to Rs. 966,834.139 million (December 31, 2025: Rs. 696,455.990 million).

10. ADVANCES

    Performing Non-performing Total

    (Un-audited) (Audited) (Un-audited) (Audited) (Un-audited) (Audited)

    March 31,

    2026

    December 31,

    2025

    March 31,

    2026

    December 31,

    2025

    March 31,

    2026

    December 31,

    2025

    (8,370,888)	(8,249,766)	-	-	(8,370,888)
    (9,235,674)	(8,259,382)	-	-	(9,235,674)
    -	-	(104,725,705)	(106,554,668)	(104,725,705)

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

    Loans, cash credits, running finances, etc.	815,083,611	723,214,738	105,928,889	107,924,425	921,012,500		831,139,163
    Islamic financing and related assets	591,578,305	567,667,664	1,583,822	1,014,103	593,162,127		568,681,767
    Bills discounted and purchased	84,796,242	89,595,187	2,492,815	3,014,094	87,289,057		92,609,281
    Advances - gross	1,491,458,158	1,380,477,589	110,005,526	111,952,622	1,601,463,684		1,492,430,211
    Credit loss allowance against advances
    -Stage 1							(8,249,766)
    -Stage 2							(8,259,382)
    -Stage 3							(106,554,668)
    	(17,606,562)	(16,509,148)	(104,725,705)	(106,554,668)	(122,332,267)		(123,063,816)
    Advances - net of credit loss allowance	1,473,851,596	1,363,968,441	5,279,821	5,397,954	1,479,131,417		1,369,366,395

    NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

    NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

    FOR THE THREE MONTHS ENDED MARCH 31, 2026

    (Un-audited) (Audited)

    March 31,

    2026

    December 31,

    2025

    1. Particulars of advances - gross ------- (Rupees in '000) -------

       In local currency	1,001,777,366		975,862,785
       In foreign currencies	599,686,318		516,567,426
       	1,601,463,684		1,492,430,211

    2. Advances include Rs.110,005.526 million (December 31, 2025: Rs. 111,952.622 million) which have been placed under non-performing status as detailed below:

       (Un-audited) March 31, 2026

       (Audited) December 31, 2025

       Category of Classification in Stage 3

       Non-Performing Loans

       Credit loss allowance

       Non-Performing Loans

       Credit loss allowance

       -	-	106,608
       2,200,520	1,306,108	2,196,709
       387,697	221,324	3,439,765
       73,785,370	72,808,269	70,214,413

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

       Domestic
       Other Assets Especially Mentioned					35,805
       Substandard					1,343,327
       Doubtful					3,205,029
       Loss					69,237,312
       Overseas	76,373,587	74,335,701	75,957,495		73,821,473
       Other Assets Especially Mentioned Substandard Doubtful Loss					-12,369 - 32,720,826

       -	-	-
       23,675	12,325	28,751
       16,127	-	17,331
       33,592,137	30,377,679	35,949,045

       33,631,939 30,390,004 35,995,127 32,733,195

       Total 110,005,526 104,725,705 111,952,622 106,554,668

    3. Particulars of credit loss allowance against advances

       March 31, 2026 (Un-audited)

       December 31, 2025 (Audited)

       Note

       Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total

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

       Opening balance 8,249,766 8,259,382 106,554,668 123,063,816 6,009,588						7,736,178	107,899,651	121,645,417
       Acquisitions through business combination -		-	-	-	1,047,088	1,426,155	52,398,027	54,871,270
       Exchange adjustments (1,304) Charge / (reversals)		(13,915)	(113,788)	(129,007)	8,095	19,706	516,551	544,352
       Charge for the period / y	ear 1,879,766	2,700,372	2,243,423	6,823,561	4,480,622	3,398,622	824,930	8,704,174
       Reversals for the period	/ year (1,941,123)	(1,557,992)	(1,745,410)	(5,244,525)	(4,888,357)	(2,564,227)	(5,453,262)	(12,905,846)
       (61,357)		1,142,380	498,013	1,579,036	(407,735)	834,395	(4,628,332)	(4,201,672)
       Amounts charged off - agriculture financing	10.5 -	-	-	- - - (71,556) (71,556)
       Amounts written off	-	-	(2,181,578)	(2,181,578) - - (49,289,636) (49,289,636)

       Amounts charge off Transfers (out) / in - net	- 183,783	- (152,173)	- (31,610)	- -
       Closing balance	8,370,888	9,235,674	104,725,705	122,332,267

       1,592,730	(1,757,052)	164,322	-
       8,249,766	8,259,382	106,554,668	123,063,816

       -	-	(434,359)	(434,359)

    4. Advances - Particulars of credit loss allowance

       March 31, 2026 (Un-audited) December 31, 2025 (Audited)

       Note

       Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total

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

       Opening balance 8,249,766 8,259,382 106,554,668 123,063,816 6,009,588 7,736,178 107,899,651 121,645,417

       Acquisitions through

       business combination - - - - 1,047,088 1,426,155 52,398,027 54,871,270

       Exchange adjustments (1,304) (13,915) (113,788) (129,007) 8,095 19,706 516,551 544,352

       New Advances

       Advances derecognized or repaid Transfer to stage 1

       Transfer to stage 2 Transfer to stage 3

       Amounts charged off -

       7,832,619

       (11,822,426)

       -

       -

       -

       2,789,021	1,270,277	2,098,853	6,158,151	4,480,622	2,527,067	824,930
       (1,941,123)	(1,557,992)	(1,745,410)	(5,244,525)	(2,788,827)	(2,564,227)	(6,469,372)
       462,630	(290,449)	(172,181)	-	1,743,795	(1,622,765)	(121,030)
       (203,946)	221,405	(17,459)	-	(63,007)	105,393	(42,386)
       (74,901)	(83,129)	158,030	-	(88,058)	(239,680)	327,738

       1,031,681 (439,888) 321,833 913,626 3,284,525 (1,794,212) (5,480,120) (3,989,807)

       agriculture financing 10.5 - - - - - - (71,556) (71,556) Amounts written off - - (2,181,578) (2,181,578) - - (49,289,636) (49,289,636)

       Amounts charge off - - - - - - (434,359) (434,359)

       Changes in risk parameters	(909,255)	1,430,095	144,570	665,410	(2,099,530)	871,555	1,016,110		(211,865)
       Closing balance	8,370,888	9,235,674	104,725,705	122,332,267	8,249,766	8,259,382	106,554,668		123,063,816

       NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

       NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

       FOR THE THREE MONTHS ENDED MARCH 31, 2026

       1. Advances - Category of classification

          March 31, 2026 (Un-audited)

          December 31, 2025 (Audited)

          Outstanding amount

          Credit loss allowance held

          Outstanding amount

          Credit loss allowance held

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

          Domestic Performing	Stage 1	893,554,828	6,346,947	874,932,793	6,431,400
          Under performing Non-performing	Stage 2 Stage 3	69,698,808	5,773,169	59,828,610	4,254,408
          Substandard		2,200,520	1,306,108	2,303,317	1,379,132
          Doubtful		387,697	221,324	3,439,765	3,205,029
          Loss		73,785,370	72,808,269	70,214,413	69,237,312
          		76,373,587	74,335,701	75,957,495	73,821,473
          Sub Total		1,039,627,223	86,455,817	1,010,718,898	84,507,281
          Overseas
          Performing	Stage 1	483,197,645	2,023,941	394,414,440	1,818,366
          Under performing Non-performing	Stage 2 Stage 3	45,006,877	3,462,505	51,301,746	4,004,974
          Substandard		23,675	12,325	28,751	12,369
          Doubtful		16,127	-	17,331	-
          Loss		33,592,137	30,377,679	35,949,045	32,720,826
          		33,631,939	30,390,004	35,995,127	32,733,195
          Sub Total		561,836,461	35,876,450	481,711,313	38,556,535
          Total		1,601,463,684	122,332,267	1,492,430,211	123,063,816

       2. The Bank has also availed FSV benefit of certain mortgaged properties held as collateral against non-performing advances of overseas branches in accordance with the applicable regulations in the respective countries where the branches operate. Had the benefit not been taken by the Bank, the credit loss allowance against non-performing advances would have been higher by Rs. 542.66 million (December 31, 2025: Rs. 511.27 million) for the overseas branches.

          The FSV benefit availed is not available for the distribution of cash or stock dividend to shareholders.

    5. These represent non-performing advances for agriculture finance which have been classified as loss, are fully provided and are in default for more than 3 years. These non-performing advances have been charged off by extinguishing them against the credit loss allowance held in accordance with the SBP's Prudential Regulations for Agriculture Financing. This charge off does not, in any way, prejudice the Bank's right of recovery from these customers.

(Un-audited) (Audited)

March 31,

2026

December 31,

2025

(Un-audited)

11.2 Additions to Property and equipment - net

January -March 2026

January -March 2025

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

The following additions have been made to property and equipment during the period:

Capital work-in-progress - net additions 6,819,331 6,255,500

Property and equipment

Freehold land Leasehold land

Building on freehold land Building on leasehold land Leasehold improvements Furniture and fixtures

Electrical, office and computer equipment Vehicles

8,805,969 4,103,900

Total 15,625,300 10,359,400

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(Un-audited)

January - March 2026

January - March 2025

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

Total 218,968 80,132

1. RIGHT-OF-USE ASSETS

   March 31, 2026 (Un-audited)

   December 31, 2025 (Audited)

   Buildings

   Others

   Total

   Buildings

   Others

   Total

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

   At January 01, Cost	44,845,824	144,282	44,990,106	15,824,195	140,673	15,964,868
   Accumulated Depreciation	(8,761,488)	(30,506)	(8,791,994)	(5,990,259)	(78,525)	(6,068,784)
   Net Carrying amount at January 01,	36,084,336	113,776	36,198,112	9,833,936	62,148	9,896,084
   Acquisitions through business combination	-	-	-	2,143,671	-	2,143,671
   Additions during the period / year	13,138,143	36,578	13,174,721	30,091,329	96,583	30,187,912
   Deletions during the period / year	(699,847)	(486)	(700,333)	(1,644,486)	-	(1,644,486)
   Depreciation charge for the period / year	(1,503,057)	(13,001)	(1,516,058)	(4,341,172)	(44,955)	(4,386,127)
   Exchange rate adjustments	1,201	-	1,201	1,058	-	1,058
   Net Carrying Amount	47,020,776	136,867	47,157,643	36,084,336	113,776	36,198,112

   (Un-audited) (Audited)

   March 31,

   2026

   December 31,

   2025

2. INTANGIBLE ASSETS ------- (Rupees in '000) -----

   Capital work-in-progress - Computer software	1,331,056	900,980
   Intangible assets - Computer software	2,254,821	2,186,775
   Intangible assets - Goodwill	1,500,819	1,500,819
   Intangible assets - business combination benefits	52,302,503	53,765,257

   57,389,199 58,353,831

   (Un-audited)

   January - March 2026

   January - March 2025

   1. Additions to intangible assets - net ------- (Rupees in '000) -----

      The following additions have been made to intangible assets during the period:
      Capital work-in-progress - net	430,076		-
      Directly purchased - Intangible assets	375,544		178,238
      	805,620		178,238

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      (Un-audited) (Audited)

      March 31,

      2026

      December 31,

      2025

3. DEFERRED TAX (LIABILITIES) / ASSETS Note

   Deductible temporary differences on

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

   Credit loss allowance against advances and off balance sheet obligations	24,163,007		28,546,925
   Workers' Welfare Fund	10,637,307		9,596,802
   Lease liabilities and related right of use assets	1,470,270		1,236,053
   	36,270,584		39,379,780
   Taxable temporary differences on
   Surplus on revaluation of property and equipment / non-banking assets	(1,122,736)		(1,142,183)
   Surplus on revaluation of investments	(20,837,056)		(148,764,719)
   Post retirement employee benefits	(18,485,824)		(18,485,824)
   Accelerated tax depreciation	(6,742,223)		(6,942,814)
   Others	(2,540,666)		12,523
   	(49,728,505)		(175,323,017)
   	(13,457,921)		(135,943,237)

   (Un-audited) (Audited)

   March 31,

   2026

   December 31,

   2025

4. OTHER ASSETS ------- (Rupees in '000) -------

   Income / mark-up accrued in local currency		260,240,094		281,498,612
   Income / mark-up accrued in foreign currencies	15.1	10,850,818		6,088,868
   Advance taxation - net of provision for taxation	15.2	134,493		12,637,536
   Receivable from staff retirement fund		42,770,986		39,221,613
   Receivable from other banks against telegraphic transfers and demand drafts		506,087		126,192
   Unrealised gain on forward foreign exchange contracts		1,492,325		1,845,323
   Rebate / incentive receivable - net		28,325,580		23,968,033
   Unrealised gain on derivative financial instruments	26	4,212,649		93,247
   Suspense accounts		1,232,830		452,131
   Stationery and stamps on hand		521,090		521,352
   Non-banking assets acquired in satisfaction of claims		348,473		352,513
   Advances, deposits, advance rent and other prepayments		28,020,925		24,455,058
   Dividend receivable		76,080		26,757
   Commission receivable - Bancassurance & Branchless Banking		628,119		614,634
   Receivable against fraud & forgery and looted notes		564,180		501,980
   Acceptances	22	54,068,556		52,658,946
   Others		13,023,305		5,382,664
   		447,016,590		450,445,459
   Credit loss allowance held against other assets		(2,234,809)		(2,174,763)
   Other assets - net of credit loss allowance		444,781,781		448,270,696
   Surplus on revaluation of non-banking assets acquired in
   satisfaction of claims 24		2,387		2,387
   		444,784,168		448,273,083

   1. Unrealised mark-up held in suspense amounting to Rs. 24,206.865 million (December 31, 2025: Rs. 23,625.546 million) against non-performing overseas advances has been netted off.

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

   2. The Income Tax returns of the Bank have been filed up to the tax year 2025 (accounting year ended December 31, 2024) and are deemed assessed under section 120 of the Income Tax Ordinance, 2001 (Ordinance).

      The income tax authorities have issued amended assessment orders up to tax year 2025. The amendments primarily pertain to provision against advances, diminution in value of investments and other assets, allocation of expenses against reduced rate income, bad debts written off directly and initial allowance. These matters are currently at various stages of appeal before the appellate authorities. The management of the Bank is confident that the appeals will be decided in favor of the Bank.

      The tax returns for Azad Kashmir (AK) and Gilgit Baltistan (GB) branches have been filed up to the tax year 2025 under the provision of the ordinance and in compliance with the terms of the agreement between banks and the Azad Kashmir Council in May 2005. The returns filed are considered as deemed assessment orders under the law.

      The tax returns for UAE and Qatar branches have been filed up to the year ended December 31, 2024 and for Yemen branches up to the year ended December 31, 2019 under the provisions of the laws prevailing in the respective countries and are deemed as assessed unless opened for reassessment.

      Ex-Silk Bank Limited status

      The tax returns of the Silk Bank Limited have been filed up to the tax year 2025 and are deemed assessed under the provisions of the Ordinance.

      The income tax authorities have issued amended assessment orders up to tax year 2025, The amendments primarily pertain to provision against advances and diminution in value of investments, gain on disposal of NBA assets, allocation of expenses against reduced rate income and initial allowance. These matters are currently at various stages of appeal before the appellate authorities. The management of the Bank is confident that the appeals will be decided in favor of the Bank.

      The tax returns of the Silk Bank Limited for AK operations have been filed up to the tax year 2025. The tax authorities have issued amended assessment orders from the tax years 2016 to 2020. The Bank has filed appeals against these orders. The management of the Bank is confident that the appeals will be decided in favor of the Bank.

      (Un-audited) (Audited)

      March 31,

      2026

      December 31,

      2025

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

      1. Credit loss allowance held against other assets

Transfers out - net - -

Amounts written off (3,414) (1,000)

Closing balance 2,234,809 2,174,763

16 CONTINGENT ASSETS

There were no contingent assets as at March 31, 2026 & December 31, 2025.

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(Un-audited) (Audited)

March 31,

2026

December 31,

2025

1. BILLS PAYABLE

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

   In Pakistan 55,432,365 39,927,711

   Outside Pakistan 3,734,337 18,704,133

   59,166,702 58,631,844

2. BORROWINGS

   Secured

   21,803,460	19,390,877
   1,239,738	1,321,161
   6,653,529	7,265,940
   1,075,606	1,125,564
   12,258,112	12,818,459
   12,950	30,797
   6,267,229,514	6,326,782,743
   33,557	40,329
   25,911	28,688

   Borrowings from the State Bank of Pakistan under: Export refinance scheme

   Refinance facility for modernization of SME

   Long term financing facility Renewable energy scheme Temporary economic refinance facility

   Refinance facility for combating COVID-19 Repurchase agreement borrowings

   Financing facility for storage of agriculture products Refinance for women entrepreneurs

   6,310,332,377 6,368,804,558

   Repurchase agreement borrowings 98,755,534 76,097,576

   98,755,534 76,097,576

   Unsecured

   Call borrowings

   Overdrawn nostro accounts

3. DEPOSITS AND OTHER ACCOUNTS

   195,567,221	83,249,214
   133,663	1,863,372

   195,700,884 85,112,586

   6,604,788,795 6,530,014,720

   March 31, 2026 (Un-audited) December 31, 2025 (Audited)

   In Local Currency

   In Foreign Currencies

   Total In Local Currency

   In Foreign Currencies

   Total

   Customers Current deposits Savings deposits Term deposits Others

   Financial Institutions Current deposits Saving deposits

   Term deposits

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

   1,920,051,326	1,033,421,421	2,953,472,747	1,595,112,858	981,580,507	2,576,693,365
   1,137,255,262	77,768,487	1,215,023,749	1,215,125,737	70,817,651	1,285,943,388
   442,645,827	141,599,653	584,245,480	458,853,253	155,159,290	614,012,543
   137,907,561	15,947,382	153,854,943	73,777,259	13,822,006	87,599,265

   3,637,859,976 1,268,736,943 4,906,596,919 3,342,869,107 1,221,379,454 4,564,248,561

   30,243,696	5,897,635	36,141,331	37,220,269	8,044,676	45,264,945
   437,732,805	52,078	437,784,883	446,951,807	160,550	447,112,357
   5,216,397	8,709,494	13,925,891	103,908,600	7,889,955	111,798,555

   473,192,898 14,659,207 487,852,105 588,080,676 16,095,181 604,175,857

   4,111,052,874 1,283,396,150 5,394,449,024 3,930,949,783 1,237,474,635 5,168,424,418

   1. This includes deposits eligible to be covered under insurance arrangements in accordance with DPC Circular No. 04 dated June 22, 2018 amounting to Rs. 2,548,285.963 million (December 31, 2025: Rs 2,370,046.609 million).

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

4. LEASE LIABILITIES (Un-audited) (Audited)

   March 31,

   2026

   December 31,

   2025

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

   Opening balance	38,873,814	12,008,797
   Acquisitions through business combination	-	2,143,671
   Addition during the period / year	13,186,647	30,148,485
   Lease payments including interest during the period / year	(2,978,876)	(7,297,972)
   Interest expense during the period / year	1,404,294	3,607,665
   Termination / modification during the period / year	(688,507)	(1,737,464)

   Exchange adjustments - 632

   Closing balance 49,797,372 38,873,814

   20.1	Liabilities Outstanding
   	Not later than one year	325,042	687,650
   	Later than one year and upto five years	8,229,642	6,952,479

   Over five years 41,242,688 31,233,685

   Total 49,797,372 38,873,814

5. SUBORDINATED DEBT

   Listed Term Finance Certificates - Additional Tier I 21.1 10,000,000 10,000,000

   10,000,000 10,000,000

   1. The Bank has issued fully paid up, rated, listed, perpetual, unsecured, subordinated, non-cumulative and contingent convertible debt instruments in the nature of Term Finance Certificates (TFCs) under Section 66 of the Companies Act, 2017 which qualify as Additional Tier I Capital as outlined by State Bank of Pakistan (SBP) under BPRD Circular No. 6 dated August 15, 2013.

      Salient features of the Additional Tier 1 issue are as follows:

      Issue Size

      Issue Date

      Tenor

      Rating

      Security

      Mark-up rate

      Mark-up payment frequency

      Call option

      Lock-in clause

      Loss absorbency clause

      Rs. 10,000 million

      January 29, 2019

      Perpetual (i.e. no fixed or final redemption date)

      "AA+" (Double A Plus) by VIS Credit Rating Company Limited

      Unsecured

      The TFCs shall carry mark-up at the rate of 3 Month KIBOR + 1.55%.

      Mark-up shall be payable quarterly in arrears, on a non-cumulative basis

      The Bank may, at its sole discretion, call the TFCs, at any time after five years from the Issue Date subject to the prior approval of the SBP.

      Mark-up on the TFCs shall only be paid from the current year's earnings and if the Bank is fully compliant with SBP's Minimum Capital Requirement (MCR), Capital Adequacy Ratio (CAR) and Liquidity Ratio (LR) requirements.

      The TFCs shall, at the discretion of the SBP, be either permanently converted into ordinary shares or permanently written off (partially or in full) pursuant to the loss absorbency clause as stipulated in the "Instructions for Basel III Implementation in Pakistan" issued vide BPRD Circular No. 6 dated August 15, 2013.

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      (Un-audited) (Audited)

      Note

      March 31,

      2026

      December 31,

      2025

6. OTHER LIABILITIES

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

(Number of shares) ------- (Rupees in '000) -------

4,000,000,000 4,000,000,000 Ordinary shares of Rs. 5 each 20,000,000 20,000,000

23.2 Issued, subscribed and paid-up capital

(Un-audited) (Audited) (Un-audited) (Audited)

March 31,

2026

December 31,

2025

March 31,

2026

December 31,

2025

(Number of shares) ------- (Rupees in '000) -------

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

24. SURPLUS ON REVALUATION OF ASSETS

Note

(Un-audited) (Audited)

March 31,

2026

December 31,

2025

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

25.2.1 Commitments to extend credit

The Bank makes commitments to extend credit in the normal course of its business but these being revocable commitments do not attract any significant penalty or expense if the facility is unilaterally withdrawn.

(Un-audited) (Audited)

March 31,

2026

December 31,

2025

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

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(Un-audited) (Audited)

March 31,

2026

December 31,

2025

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

These mainly represent counter claims filed by the borrowers for restricting the Bank from disposal of assets (such as mortgaged / pledged assets kept as security). Based on legal advice and / or internal assessments, management is confident that the matters will be decided in the Bank's favor and the possibility of any outcome against the Bank is remote and accordingly no provision has been made in these unconsolidated condensed interim financial statements.

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

1. Derivative Instruments

   Product analysis

   March 31, 2026 (Un-audited)

   Interest rate swap

   Forward purchase contracts of Government securities

   Forward sale contracts of Government securities

   Total

   Notional principal

   Mark to market gain

   Notional principal

   Mark to market loss

   Notional principal

   Mark to market loss

   Notional principal Mark to market gain

   / (loss)

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

   4,212,649

   (937,413)

Hedging Market making

190,000,000 4,212,649 115,371,560 (937,413) - - 305,371,560 3,275,236

December 31, 2025 (Audited)

Interest rate swap

Forward purchase contracts of Government securities

Forward sale contracts of Government securities

Total

Notional principal

Mark to market gain

Notional principal

Mark to market gain

Notional principal

Mark to market loss

Notional principal Mark to market gain

/ (loss)

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

(Un-audited)

January -March 2026

January -March 2025

1. MARK-UP / RETURN / INTEREST EARNED

On:

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

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(Un-audited)

January -March 2026

January - March 2025

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

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(Un-audited)

------- (Number of shares) -------

Weighted average number of ordinary shares 2,504,247,750 2,461,400,006

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

Earnings per share - basic and diluted - restated 19.56 14.46

36.1. There were no convertible dilutive potential ordinary shares outstanding as at March 31, 2026 and March 31, 2025.

1. FAIR VALUE OF FINANCIAL INSTRUMENTS

   The fair value of quoted securities other than those classified as held to maturity, is based on quoted market price. Quoted securities classified as held to maturity are carried at cost. The fair value of unquoted equity securities, other than investments in associates and subsidiaries, is carried at fair value. The valuation is carried out using appropriate methodologies.

   The fair value of unquoted debt securities, fixed term loans, other assets, other liabilities, fixed term deposits and borrowings cannot be calculated with sufficient reliability due to the absence of a current and active market for these assets and liabilities and reliable data regarding market rates for similar instruments.

   In the opinion of the management, the fair value of the remaining financial assets and liabilities are not significantly different from their carrying values since these are either short-term in nature or, in the case of customer loans and deposits, are frequently repriced.

   1. The Bank measures fair values using the following fair value hierarchy that reflects the significance of the inputs used in making the measurements:

      Level 1: Fair value measurements using quoted prices (unadjusted) in active markets for identical assets or liabilities.

      Level 2: Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the assets or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

      Level 3: Fair value measurements using input for the asset or liability that are not based on observable market data (i.e. unobservable inputs).

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      1. Valuation techniques used in determination of fair values within level 2 and level 3.

         Item	Valuation approach and input used
         Federal Government securities	The fair value of Federal Government securities is determined using the prices / rates available on Mutual Funds Association of Pakistan (MUFAP) / Bloomberg.
         Non-Government debt securities	The fair value of non-government debt securities is determined using the prices / rates from MUFAP.
         Unquoted equity securities	The fair value of unlisted equity investments is determined using cash flow projections of the investee company. If cashflow projections of investees are unavailable, the Bank uses the break-up value as an estimate of fair value.
         Foreign debt securities	The fair value of foreign corporate and foreign government securities is determined using the rates from Bloomberg.
         Mutual Fund units	The fair values of investments in mutual fund units are determined based on their net asset values as published at the close of each business day.
         Forward foreign exchange contracts and Forward Government securities transactions	The fair values of forward foreign exchange contracts and forward Government securities transactions are determined using forward pricing calculations.
         Derivatives	The fair valuation techniques include forward pricing and swap models using present value calculations.
         Fixed assets and non-banking assets acquired in satisfaction of claims	Land, buildings and non-banking assets acquired in satisfaction of claims are revalued on a periodic basis using professional valuers. The valuation is based on their assessment of the market value of the assets. The effect of changes in the unobservable inputs used in the valuations cannot be determined with certainty. Accordingly, a qualitative disclosure of sensitivity has not been presented in these unconsolidated condensed interim financial statements.

         The following table summaries the quantitative information about the significant unobservable inputs used in level 3 fair value measurement of Unlisted equities.

         Description

         Valuation technique

         Significant unobservable inputs

         Rate

         Sensitivity of the input to fair value

         Non-listed equity investments financial sector

         Increase/decrease in WACC 17% - 20.13%,5- by 1% with all other variables

         Ordinary shares unlisted (income approach) DCF Method WACC, CAGR, DLOM, DLOC

         53.72%, 28% &

         10%

         held constant, would

         (decrease) / increase the fair value by Rs. 2,277 million as at December 31, 2025.

         Ordinary shares unlisted (market approach)

         Price to Book Value

         Market multiple/ transaction price

         Not applicable

         Not applicable

   2. Fair value of financial assets

      The table below analyses financial instruments measured at the end of the reporting period by the level in the fair value hierarchy into which the fair value measurement is categorised:

      On balance sheet financial instruments Financial assets measured at fair value

      Investments

      March 31, 2026 (Un-audited)

      Carrying value Fair value Level 1 Level 2 Level 3 Total

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

      - Federal Government securities	8,538,745,460	-	8,538,745,460	-	8,538,745,460
      - Shares and units	23,031,571	18,694,052	-	4,337,519	23,031,571
      - Foreign securities	352,824,110		352,824,110	-	352,824,110
      - Non-Government debt securities	10,622,019	-	10,622,019	-	10,622,019
      Financial assets - disclosed but not	8,925,223,160	18,694,052	8,902,191,589	4,337,519	8,925,223,160
      measured at fair value Investments - Federal Government Securities	957,807,524	-	936,878,511	-	936,878,511
      - Foreign securities	17,699,223	-	17,124,121	-	17,124,121
      - Non-Government debt securities	13,092,578	-	12,831,507	-	12,831,507
      	988,599,325	-	966,834,139	-	966,834,139
      	9,913,822,485	18,694,052	9,869,025,728	4,337,519	9,892,057,299

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      Off-balance sheet financial instruments measured at fair value

      On balance sheet financial instruments Financial assets measured at fair value

      March 31, 2026 (Un-audited)

      Carrying value Fair value Level 1 Level 2 Level 3 Total

      Foreign exchange contracts - purchased and sold	1,359,123,513	-	(1,296,824)	-	(1,296,824)
      Interest rate swaps - purchased and sold	190,000,000	4,212,649	-	-	4,212,649
      Forward Government Securities - purchased and sold	115,371,560	-	(937,413)	-	(937,413)

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

      December 31, 2025 (Audited)

      Carrying value Fair value Level 1 Level 2 Level 3 Total

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

      Investments - Federal Government securities	8,836,797,960	-	8,836,797,960	-	8,836,797,960
      - Shares and units	24,346,989	20,009,441	-	4,337,548	24,346,989
      - Foreign securities	394,789,046	-	394,789,046	-	394,789,046
      - Non-Government debt securities	7,542,370	-	7,542,370	-	7,542,370
      Financial assets - disclosed but not measured at	9,263,476,365	20,009,441	9,239,129,376	4,337,548	9,263,476,365
      fair value Investments - Federal Government Securities	651,569,594	-	662,796,595	-	662,796,595
      - Foreign securities	20,893,132	-	20,600,418	-	20,600,418
      - Non-Government debt securities	12,765,041	-	13,058,977	-	13,058,977
      	685,227,767	-	696,455,990	-	696,455,990
      	9,948,704,132	20,009,441	9,935,585,366	4,337,548	9,959,932,355
      Off-balance sheet financial instruments - measured at fair value
      Foreign exchange contracts - purchased and sold	1,113,461,380	-		621,475	-	621,475
      Interest rate swaps - purchased and sold	-	-		-	-	-
      Forward Government Securities - purchased and sold	36,537,900			(52,334)	-	(52,334)
      37.3 Fair Value of non-financial assets
      		March 31, 2026		(Un-audited)
      	Carrying value			Fair value
      ` Level 1 Level 2 Level 3 Total ---------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------
      Property and equipment	72,999,775	-	-	72,999,775	72,999,775
      Non-banking assets acquired in satisfaction of claims	350,860	-	-	350,860	350,860
      	73,350,635	-	-	73,350,635	73,350,635

      December 31, 2025 (Audited)

      Carrying value Fair value

      Level 1 Level 2 Level 3 Total

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

      Property and equipment	71,604,510	-	-	71,604,510	71,604,510
      Non-banking assets acquired in satisfaction of claims	354,900	-	-	354,900	354,900
      	71,959,410	-	-	71,959,410	71,959,410

      37.4 Certain categories of property and equipment (land and buildings) and non-banking assets acquired in satisfactions of claims are carried at revalued amounts (level 3 measurement) determined by professional valuers based on their assessment of the market values.

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

2. SEGMENT INFORMATION

   1. Segment details with respect to business activities

      Corporate /

      For the three months ended March 31, 2026 (Un-audited)

      International

      Commercial Banking

      Treasury Branch Banking

      Islamic Banking

      branch operations

      Others Total

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

      Profit and Loss Net mark-up / return / profit	(4,848,068)		101,621,167		(32,936,041)		22,577,233		12,419,000		587,305		99,420,596
      Inter segment (expense) / revenue - net	7,965,763		(64,568,595)		62,297,043		-		-		(5,694,211)		-
      Non mark-up / return / interest income	2,684,750		32,084,686		4,086,004		400,275		2,772,986		143,242		42,171,943
      Total Income	5,802,445		69,137,258		33,447,006		22,977,508		15,191,986		(4,963,664)		141,592,539
      Segment direct expenses	866,351		1,732,499		22,033,814		7,335,802		3,525,511		4,485,184		39,979,161
      Inter segment expense allocation	1,279,838		1,191,629		747,134		-		-		(3,218,601)		-
      Total expenses	2,146,189		2,924,128		22,780,948		7,335,802		3,525,511		1,266,583		39,979,161
      Credit loss allowance - net	2,148,619		(153,307)		(1,438,249)		(3,030,212)		365,621		2,562,604		455,076
      Profit / (loss) before taxation	5,804,875		66,059,823		9,227,809		12,611,494		12,032,096		(3,667,643)		102,068,454

      Corporate /

      For the three months ended March 31, 2025 (Un-audited)

      International

      Commercial Banking

      Treasury

      Branch Banking

      Islamic Banking

      branch operations

      Others

      Total

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

      Profit and Loss Net mark-up / return / profit	11,442,687		82,347,049		(20,965,371)		4,261,049		7,180,814		(41,092)		84,225,136
      Inter segment (expense) / revenue - net	(8,825,750)		(36,777,562)		44,729,313		-		-		873,999		-
      Non mark-up / return / interest income	2,279,194		7,683,444		3,896,125		271,460		1,378,298		89,294		15,597,815
      Total Income	4,896,131		53,252,931		27,660,067		4,532,509		8,559,112		922,201		99,822,951
      Segment direct expenses	486,436		165,933		13,859,946		4,249,511		2,126,482		5,209,093		26,097,401
      Inter segment expense allocation	169,428		864,706		2,187,900		-		-		(3,222,034)		-
      Total expenses	655,864		1,030,639		16,047,846		4,249,511		2,126,482		1,987,059		26,097,401
      Credit loss allowance - net	659,430		48,602		(1,142,685)		(30,177)		2,278,467		(204,820)		1,608,817
      Profit / (loss) before taxation	4,899,697		52,270,894		10,469,536		252,821		8,711,097		(1,269,678)		75,334,367

      Corporate /

      As at March 31, 2026 (Un-audited)

      International

      Commercial Banking

      Treasury Branch Banking Islamic Banking

      branch operations

      Others

      Total

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

      Balance Sheet
      Cash & Bank balances	54,558		163,927,725		121,113,517		65,760,094		289,805,397		-		640,661,291
      Investments	9,174,121		8,816,656,203		-		605,308,499		484,775,859		8,318,473		9,924,233,155
      Net inter segment lending	301,771,287		-		2,301,559,638		-		3,777,854		-		2,607,108,779
      Lendings to financial institutions	-		-		-		-		-		-		-
      Advances - performing	229,121,773		4,374,185		124,749,727		584,443,855		522,676,632		8,485,424		1,473,851,596
      Advances - non-performing net	1,705,771		-		91,292		60,500		3,422,258		-		5,279,821
      Others	5,580,979		76,419,341		308,894,520		71,786,917		17,153,010		202,213,849		682,048,616
      Total Assets	547,408,489		9,061,377,454		2,856,408,694		1,327,359,865		1,321,611,010		219,017,746		15,333,183,258

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

      FOR THE THREE MONTHS ENDED MARCH 31, 2026

      Corporate /

      As at March 31, 2026 (Un-audited)

      International

      Commercial Banking

      Treasury Branch Banking Islamic Banking

      branch operations

      Others Total

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

      Borrowings	21,279,080		6,528,135,538		4,920,104		18,703,549		31,750,524		-		6,604,788,795
      Subordinated debt	-		-		-		-		-		10,000,000		10,000,000
      Deposits and other accounts	491,312,346		-		2,772,509,041		995,237,233		1,134,838,090		552,314		5,394,449,024
      Net inter segment borrowing	-		2,432,093,942		-		175,014,836		-		-		2,607,108,778
      Others	15,448,145		51,936,124		68,258,127		48,901,616		12,073,852		104,043,425		300,661,289
      Total Liabilities	528,039,571		9,012,165,604		2,845,687,272		1,237,857,234		1,178,662,466		114,595,739		14,917,007,886
      Equity	19,368,918		49,211,850		10,721,422		89,502,631		142,948,544		104,422,007		416,175,372
      Total Equity & liabilities	547,408,489		9,061,377,454		2,856,408,694		1,327,359,865		1,321,611,010		219,017,746		15,333,183,258
      Contingencies and Commitments	914,464,421		769,360,672		188,767,440		92,863,688		998,415,609		2,553,772		2,966,425,602

      Corporate /

      As at December 31, 2025 (Audited)

      International

      Commercial Banking

      Treasury Branch Banking Islamic Banking

      branch operations

      Others Total

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

      Balance Sheet
      Cash & Bank balances	73,537		157,538,266		67,645,918		96,532,778		283,036,157		-		604,826,656
      Investments	9,174,174		8,915,527,870		-		495,954,343		522,528,452		7,869,811		9,951,054,650
      Net inter segment lending	313,262,186		-		2,175,337,853		-		14,226,985		-		2,502,827,024
      Lendings to financial institutions	-		17,000,000		-		14,574,547		-		-		31,574,547
      Advances - performing	236,353,075		8,555,039		115,981,454		562,986,863		440,075,704		16,306		1,363,968,441
      Advances - non-performing net	1,881,585		-		187,845		66,592		3,261,932		-		5,397,954
      Others	1,826,306		92,487,272		305,116,044		57,282,314		6,513,826		200,145,435		663,371,197
      Total Assets	562,570,863		9,191,108,447		2,664,269,114		1,227,397,437		1,269,643,056		208,031,552		15,123,020,469
      Borrowings	21,396,778		6,463,604,043		5,288,844		15,336,073		24,388,982		-		6,530,014,720
      Subordinated debt	-		-		-		-		-		10,000,000		10,000,000
      Deposits and other accounts	548,603,889		-		2,568,659,084		962,340,876		1,088,820,569		-		5,168,424,418
      Net inter segment borrowing	-		2,292,801,720		-		134,692,381		-		75,332,923		2,502,827,024
      Others	12,504,162		149,382,080		104,114,204		37,123,268		18,850,311		91,048,716		413,022,741
      Total Liabilities	582,504,829		8,905,787,843		2,678,062,132		1,149,492,598		1,132,059,862		176,381,639		14,624,288,903
      Equity	(19,933,966)		285,320,604		(13,793,018)		77,904,839		137,583,194		31,649,913		498,731,566
      Total Equity & liabilities	562,570,863		9,191,108,447		2,664,269,114		1,227,397,437		1,269,643,056		208,031,552		15,123,020,469

      -				-
      Contingencies and Commitments	1,093,032,940	415,512,685	188,006,587	41,126,453	831,161,418	8,997,145	2,577,837,228

3. RELATED PARTY TRANSACTIONS

   The Bank has related party transactions with its parent, directors, key management personnel, subsidiaries, associates and other related parties including employee benefit schemes of the Bank.

   The Bank enters into transactions with related parties in the ordinary course of business and on substantially the same terms as for comparable transactions with person of similar standing. Contributions to and accruals in respect of staff retirement benefits and other benefit plans are made in accordance with the actuarial valuations / terms of the contribution plan. Remuneration to the executives / officers is determined in accordance with the terms of their appointment.

   Details of transactions and balances with related parties, other than those which have been disclosed elsewhere in these unconsolidated condensed interim financial statements, are as follows:

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   Parent Directors

   As at March 31, 2026 (Un-audited)

   Key

   management Subsidiaries Associates personnel

   Other related parties

   Statement of financial position ----------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------

   Balances with other banks In current accounts	-	-	-	-	-	-
   In deposit accounts	-	-	-	-	-	-
   	-	-	-	-	-	-
   Lendings to financial institutions Opening balance	-	-	-	-	-	-
   Addition during the period	-	-	-	-	-	-
   Repaid during the period	-	-	-	-	-	-
   Transfers in / (out) - net	-	-	-	-	-	-
   Closing balance	-	-	-	-	-	-
   Investments Opening balance	-	-	-	2,100,000	1,667,396	3,571,805
   Investment made during the period	-	-	-	-	8,060,154	-
   Investment disposed off / redeemed during the period	-	-	-	-	-	-
   Transfers in / (out) - net	-	-	-	-	-	-
   Closing balance	-	-	-	2,100,000	9,727,550	3,571,805
   Credit loss allowance for diminution in value of investments	-	-	-	-	1,417,485	-
   Advances Opening balance	-	526	497,607	-	-	146,836,003
   Addition during the period	-	1,660	80,616	-	-	8,997,451
   Repaid during the period	-	(2,035)	(72,463)	-	-	(9,038,304)
   Transfers in / (out) - net	-	-	(123)	-	-	-
   Closing balance	-	151	505,637	-	-	146,795,150
   Credit loss allowance held against advances	-	9	8,873	-	-	46
   Property and equipment / CWIP	-	-	-	-	-	-
   Other Assets Income / mark-up accrued	-	-	-	-	-	3,885,801
   Receivable from staff retirement fund	-	-	-	-	-	22,633,097
   Prepaid insurance	-	-	-	-	1,191,232	-
   Dividend Receivable	-	-	-	-	-	-
   Other receivable	-	-	-	17,691	-	34,873
   Credit loss allowance against other assets	-	-	-	-	-	-
   Borrowings
   Opening balance	-	-	-	-	-	5,944,841
   Borrowings during the period	-	-	-	-	-	81,302,617
   Settled during the period	-	-	-	-	-	(78,233,173)
   Closing balance	-	-	-	-	-	9,014,285
   Overdrawn nostros	-	-	-	-	-	102,426
   Deposits and other accounts
   Opening balance	22,910	7,730,318	42,530	334,519	1,325,496	142,607,142
   Received during the period	5,582,190	14,684,991	1,226,591	52,850,582	41,457,796	910,763,719
   Withdrawn during the period	(5,585,087)	(14,745,894)	(1,180,246)	(52,222,851)	(41,252,007)	(930,980,858)
   Transfers in / (out) - net	-	-	(541)	-	-	(14,989)
   Closing balance	20,013	7,669,415	88,334	962,250	1,531,285	122,375,014

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   Parent Directors

   As at March 31, 2026 (Un-audited)

   Key

   management Subsidiaries Associates personnel

   Other related parties

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

   Subordinated debt	-	-	-		-	-	-
   Other Liabilities Interest / mark-up payable on deposits and borrowings	254	43,199		1	5,165	3,335	166,811
   Unearned income	-	-	-		1,607	-	28,890
   Unrealised loss on forward foreign exchange contracts	-	-	-		648	-	-
   Other payable	-	-	-		-	16,209	35,115
   Contingencies and Commitments Forward foreign exchange contracts purchase	-	-	-		251,238	-	-
   Others
   Securities held as custodian	5,697,280	1,402,490	12,800		-	3,271,600	22,546,610

   Parent Directors

   As at December 31, 2025 (Audited)

   Key

   management Subsidiaries Associates personnel

   Other related parties

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

   Statement of financial position
   Balances with other banks
   In current accounts	-	-	-	-	-	-
   In deposit accounts	-	-	-	-	-	-
   	-	-	-	-	-	-
   Lendings to financial institutions Opening balance	-	-	-	-	-	-
   Addition during the year	-	-	-	-	-	5,016,240
   Repaid during the year	-	-	-	-	-	(5,016,240)
   Transfers in / (out) - net	-	-	-	-	-	-
   Closing balance	-	-	-	-	-	-
   Investments
   Opening balance	-	-	-	2,100,000	1,657,486	3,635,440
   Investment made during the year	-	-	-	-	9,910	-
   Investment disposed / written off during the year	-	-	-	-	-	(63,635)
   Transfers in / (out) - net	-	-	-	-	-	-
   Closing balance	-	-	-	2,100,000	1,667,396	3,571,805
   Credit loss allowance for diminution in value of investments	-	-	-	-	1,417,485	-
   Advances
   Opening balance	-	537	596,283	-	-	231,097,420
   Addition during the year	-	9,805	379,813	-	-	177,640,570
   Repaid during the year	-	(9,816)	(289,673)	-	-	(261,900,702)
   Transfers in / (out) - net	-	-	(188,816)	-	-	(1,285)
   Closing balance	-	526	497,607	-	-	146,836,003
   Credit loss allowance held against advances	-	11	6,948	-	-	26
   Property and equipment / CWIP	-	-	-	-	-	10,298

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   Parent Directors

   As at December 31, 2025 (Audited)

   Key

   management Subsidiaries Associates personnel

   Other related parties

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

   Other Assets
   Interest mark-up accrued	-	-	-	-	-	4,573,212
   Receivable from staff retirement fund	-	-	-	-	-	39,221,613
   Prepaid insurance	-	-	-	-	211,601	-
   Unrealised gain on forward foreign exchange contracts	-	-	-	-	-	-
   Other receivable	-	-	-	17,717	-	25,065
   Credit loss allowance written off	-	-	-	-	-	-
   Borrowings
   Opening balance	-	-	-	-	-	94,460,700
   Borrowings during the year	-	-	-	-	3,896,632	541,102,568
   Settled during the year	-	-	-	-	(3,896,632)	(629,618,427)
   Closing balance	-	-	-	-	-	5,944,841
   Deposits and other accounts
   Opening balance	3,205	7,263,037	152,126	335,500	596,425	40,635,616
   Received during the year	28,285,690	50,068,956	2,336,597	226,339,885	104,872,912	3,798,106,048
   Withdrawn during the year	(28,265,985)	(49,601,675)	(2,382,635)	(226,340,866)	(104,242,502)	(3,695,912,103)
   Transfer in / (out) - net	-	-	(63,558)	-	98,661	(222,419)
   Closing balance	22,910	7,730,318	42,530	334,519	1,325,496	142,607,142
   Subordinated loans	-	-	-	-	-	50,000
   Other Liabilities
   Interest / mark-up payable on deposits and borrowings	-	68,683	-	-	-	307,329
   Unearned income	-	-	-	434	-	45,192
   Unrealised loss on forward foreign exchange contracts	-	-	-	717	-	-
   Other payable	-	8,690	-	-	9,708	33,215
   Contingencies and Commitments
   Forward foreign exchange contracts purchase	-	-	-	218,496	-	-
   Others Securities held as custodian	5,584,520	1,427,490	12,800	-	2,690,500	18,509,990

   For the three months ended March 31, 2026 (Un-audited)

   Key

   Other related

   Parent Directors

   management personnel

   Subsidiaries

   Associates

   parties

   Mark-up / return / interest earned	-	-		4,235	-	-	9
   Commission / charges recovered	-		81	666	499	6,326	5,990
   Dividend income	-	-		-	-	-	128,266
   Other income	-	-		-	756	-	24,660
   Gain / (Loss) on sale of property and equipment	-	-		(2,072)	-	3,261	-
   Switch revenue	-	-		-	-	-	217,953
   Management fee	-	-		-	13,640	-	-

   Profit and loss account Income

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

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   For the three months ended March 31, 2026 (Un-audited)

   Key

   Parent Directors management Subsidiaries Associates personnel

   Other related parties

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

   Expense Mark-up / return / interest paid	224	69,784	803	2,946	21,883	2,958,809
   Remuneration paid	-	-	1,027,105	-	-	-
   Directors' fees and allowances	-	50,370	-	-	-	-
   Charge for defined contribution plans	-	-	11,702	-	-	261,011
   Charge for defined benefit plans	-	-	3,637	-	-	246,065
   Other expenses	-	-	5,928	-	-	2,656
   Clearing charges	-	-	-	-	-	74,239
   Membership, subscription, sponsorship and maintenance charges	-	-	1,236	-	-	8,785
   Other Information Dividend paid	10,107,662	421,470	5,028	-	-	4,358,352
   Purchase of Government securities	-	76,742	-	-	-	19,934,993
   Sale of Government securities	5,570,743	442,262	-	-	599,934	16,554,213
   Insurance premium paid	-	-	-	-	1,199,830	-
   Insurance claims settled	-	-	-	-	84,042	-

   For the three months ended March 31, 2025 (Un-audited)

   Key

   Parent Directors management Subsidiaries Associates personnel

   Other related parties

   Mark-up / return / interest earned	-		-	6,258	-	-	3,798
   Commission / charges recovered	-		90	956	518	4,705	3,858
   Dividend income	-		-	-	-	-	248,933
   Other income	-		-	-	1,057	-	22,520
   Gain / (Loss) on sale of property and equipment	-		-	-	-	713	-
   Switch revenue	-		-	-	-	-	156,723
   Management fee	-		-	-	27,927	-	-
   Expense Mark-up / return / interest paid		37	78,831	1,174	888	368,107	632,560
   Remuneration paid	-		-	691,716	-	-	-
   Directors' fees and allowances	-		14,230	-	-	-	-
   Charge for defined contribution plans	-		-	9,410	-	-	196,647
   Charge for defined benefit plans	-		-	2,878	-	-	226,262
   Other expenses	-		-	4,025	-	-	113,666
   Clearing charges Membership, subscription, sponsorship and maintenance charges	- -		- -	- 747	- -	- -	70,998 13,486
   Other Information Dividend paid	6,949,018		312,333	9,583	-	-	2,592,730
   Purchase of Government securities	-		96,610	13,742	-	-	870,939,726
   Sale of Government securities	305,620		408,251	-	-	472,884	867,999,968
   Insurance premium paid	-		-	-	-	369,975	-
   Insurance claims settled	-		-	-	-	43,135	-

   Profit and loss account Income

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

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026

   NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

   FOR THE THREE MONTHS ENDED MARCH 31, 2026

   (Un-audited) (Audited)

   March 31,

   2026

   December 31,

   2025

4. CAPITAL ADEQUACY, LEVERAGE RATIO & LIQUIDITY REQUIREMENTS