United Bank Limited reported a strong start to 2026, posting solid earnings growth in the first quarter. The bank’s latest results show higher income and improved profitability, although rising costs and a dip in equity added pressure to its overall financial position.
For the quarter ended March 31, 2026, UBL recorded a profit after tax of Rs48.98 billion. This marks a clear increase from Rs35.6 billion reported in the same period last year. The results were submitted to the Pakistan Stock Exchange.
Alongside the earnings, the bank announced an interim cash dividend of Rs8 per share (160%). However, it did not declare any bonus or rights shares for shareholders.
During the quarter, UBL’s net markup income reached Rs99.4 billion. Meanwhile, total income stood at Rs141.6 billion. A major boost came from gains on securities, which contributed Rs30.5 billion. This remained a key part of the bank’s non-mark-up income.
At the same time, expenses moved sharply higher. Operating costs rose to Rs37.97 billion, compared to Rs24.6 billion in the same period last year. This increase highlights growing pressure on the bank’s cost base.
Looking at the balance sheet, UBL’s total assets stood at Rs12.7 trillion. Investments increased to Rs9.9 trillion, while advances were reported at Rs1.47 trillion. These figures show continued expansion in key areas of the bank’s portfolio.
However, net assets declined during the quarter. The bank reported net assets of Rs416.2 billion as of March 31, 2026. This is lower than Rs498.7 billion recorded at the end of December 2025.
In a separate development, the board made key leadership decisions. Lord Zameer M. Choudrey was appointed chairman. At the same time, Muhammad Jawaid Iqbal was reappointed as president and CEO for another three-year term, subject to regulatory approvals.
Overall, the results reflect stronger profitability driven by income growth. However, rising expenses and a drop in equity remain important factors to watch in the coming quarters.
