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3rd Quarter Results of United Bank Limited

16th Oct 2026 11:38

RNS Number : 3329Z

United Bank Limited

16 October 2026

Secretary's Department

UBL/BOD-263/PSX/Results/26

16 October 2026

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 2026

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 263rd meeting held on Friday, 16 October 2026 at Dubai at 12:00 p.m. (UAE Time), inter-alia, recommended the following:

(i) CASH DIVIDEND

An Interim Cash Dividend for the 3rd Quarter ended 30 September 2026 at Rs.8/- per share i.e. 160%. This is in addition to interim Dividend already paid at Rs.16/- per share i.e.320%.

(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 Thursday, 22 October 2026.

The Share Transfer Books of UBL will remain closed on Friday, 23 October 2026. 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 Thursday, 22 October 2026 will be treated in time for the purpose of payment of this interim cash dividend.

Following documents are attached as:

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 Statements of Cash Flows

Annexure-B (Consolidated)

5. Consolidated Statements of Financial Position

6. Consolidated Statements of Profit and Loss

7. Consolidated Statement of Changes in Equity

8. Consolidated Statements of Cash Flows

The Quarterly Financial Statements (Quarterly Report) of the Bank for the 3rd Quarter ended 30 September 2026 will be transmitted through PUCARS separately, within stipulated time.

Yours faithfully,

Sd/-

Shoukat Ali

Company Secretary

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, 2026

(Un-audited)

(Audited)

September 30,

2026

December 31,

2025

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

ASSETS

Cash and balances with treasury banks

718,958,206

547,646,979

Balances with other banks

80,556,147

57,179,677

Lendings to financial institutions

27,798,345

31,574,547

Investments

9,534,683,747

9,951,054,650

Advances

1,721,694,040

1,369,366,395

Property and equipment

209,584,952

120,546,171

Right-of-use assets

66,532,769

36,198,112

Intangible assets

54,978,953

58,353,831

Deferred tax assets

Other assets

500,429,523

448,273,083

12,915,216,682

12,620,193,445

LIABILITIES

Bills payable

97,961,245

58,631,844

Borrowings

5,433,903,453

6,530,014,720

Deposits and other accounts

6,501,449,409

5,168,424,418

Lease liabilities

70,569,169

38,873,814

Subordinated debt

10,000,000

Deferred tax liabilities

66,326,282

135,943,237

Other liabilities

213,982,492

179,573,846

12,394,192,050

12,121,461,879

NET ASSETS

521,024,632

498,731,566

REPRESENTED BY:

Share capital

12,521,239

Reserves

147,528,250

138,517,698

Surplus on revaluation of assets - net

138,304,436

173,025,714

Unappropriated profit

222,670,707

174,666,915

521,024,632

498,731,566

CONTINGENCIES AND COMMITMENTS

ANNEXURE - A-2

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	July - September 2026	July - September 2025	January - September 2026	January - September 2025
	July - September 2026	July - September 2025	January - September 2026	January - September 2025
	----------------------------- (Rupees in '000) ----------------------------------
Mark-up / return / interest earned	355,220,481	297,224,588	1,020,235,042	861,218,417
Mark-up / return / interest expensed	261,918,935	205,250,937	737,237,164	593,822,518
Net mark-up / interest income	93,301,546	91,973,651	282,997,878	267,395,899

Non mark-up / interest income
Fee and commission income	7,720,018	6,754,687	22,807,268	21,259,706
Dividend income	69,610	298,810	627,084	1,732,330
Foreign exchange income	8,582,603	4,836,577	20,809,290	12,280,199
Gain / (loss) from derivatives	744,994	(1,313)	742,618	(1,255,891)
Gain / (loss) on securities - net	5,526,853	902,623	47,919,003	9,049,933
Capital gain on derecognition of financial assets measured at amortised cost	-	-	-	-
Other income	256,450	252,267	1,057,162	740,231
Total non mark-up / interest income	22,900,528	13,043,651	93,962,425	43,806,508
Total Income	116,202,074	105,017,302	376,960,303	311,202,407

Non mark-up / Interest expenses
Operating expenses	51,981,267	30,372,033	136,054,839	88,858,478
Workers' Welfare Fund	1,350,727	1,450,463	4,827,787	4,365,567
Other charges	21,356	43,321	36,528	45,815
Total non mark-up / interest expenses	53,353,350	31,865,817	140,919,154	93,269,860

Profit before credit loss allowance	62,848,724	73,151,485	236,041,149	217,932,547
Credit loss allowance and write-offs - net	(252,830)	(822,101)	(4,460,481)	(4,711,348)

Profit before taxation	63,101,554	73,973,586	240,501,630	222,643,895

Taxation	32,882,736	39,270,818	125,312,906	124,150,535

Profit after taxation	30,218,818	34,702,768	115,188,724	98,493,360

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

Earnings per share - basic and diluted	12.07	13.86	46.00	39.55

ANNEXURE A-3 (1 of 3)

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	Share capital	Share Premium	Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Statutory reserve	Surplus / (Deficit) on revaluation			Unappropriated Profit	Total
	Share capital	Share Premium	Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Statutory reserve	Investments	Property and Equipment	Non-banking Assets	Unappropriated Profit	Total
		---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------
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	98,493,360
Other comprehensive income - net of tax	-	-	1,059,096	-	-	63,699,223	-	-	-	64,758,319
Total comprehensive income for the nine months ended September 30, 2025	-	-	1,059,096	-	-	63,699,223	-	-	98,493,360	163,251,679
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 gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(2,627,840)	-	-	2,627,840	-

Share issued under amalgamation	279,442	10,473,761	-	-	-	-	-	-	-	10,753,203
Transfer to statutory reserve	-	-	-	-	9,849,336	-	-	-	(9,849,336)	-
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)	(13,465,977)
Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share	-	-	-	-	-	-	-	-	(13,773,363)	(13,773,363)
Interim cash dividend - June 30, 2025
declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)
	-	-	-	-	-	-	-	-	(47,273,322)	(47,273,322)
Balance as at September 30, 2025 (Un-audited)	12,521,239	10,473,761	60,863,050	-	64,780,213	101,262,338	38,401,367	1,146	156,006,442	444,309,556

Continued on next pages

ANNEXURE A-3 (2 of 3)

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	Share capital	Share Premium		Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Statutory reserve	Surplus / (Deficit) on revaluation			Unappropriated Profit	Total
	Share capital	Share Premium		Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Statutory reserve	Investments	Property and Equipment	Non-banking Assets	Unappropriated Profit	Total
			---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------
Total comprehensive income for the three months December 31, 2025
Profit after taxation for the three months ended December 31, 2025	-	-		-	-	-	-	-	-	29,515,487	29,515,487
Other comprehensive income - net of tax	-	-		(550,875)	-	-	33,391,979	-	-	12,099,401	44,940,505
Total comprehensive income for the three months ended December 31, 2025	-	-		(550,875)	-	-	33,391,979	-	-	41,614,888	74,455,992
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-		-	-	-	-	(19,632)	-	19,632	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-		-	-	-	(11,484)	-	-	11,484	-
Transfer to statutory reserve	-	-		-	-	2,951,549	-	-	-	(2,951,549)	-
Transactions with owners, recorded directly in equity
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share	-	-		-	-	-	-	-	-	(20,033,982)	(20,033,982)

Balance as at December 31, 2025 (Audited)	12,521,239	10,473,761		60,312,175	-	67,731,762	134,642,833	38,381,735	1,146	174,666,915	498,731,566
Effect of Transition to EIR Method - net of tax	-	-		-	-	-	-	-	-	315,991	315,991
Balance as at January 01, 2026 - as restated	12,521,239	10,473,761		60,312,175	-	67,731,762	134,642,833	38,381,735	1,146	174,982,906	499,047,557

Continued on next page

ANNEXURE A-3 (3 of 3)

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

Share capital	Share Premium		Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Statutory reserve	Surplus / (Deficit) on revaluation			Unappropriated Profit	Total
						Investments	Property and Equipment	Non-banking Assets
		---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------

Total comprehensive income for the nine months ended September 30, 2026
Profit after taxation for the nine months ended September 30, 2026	-	-	-	-	-	-	-	-	115,188,724	115,188,724
Other comprehensive income - net of tax	-	-	(1,794,075)	(714,245)	-	(55,800,092)	25,198,709	-	-	(33,109,703)
Total comprehensive income for the nine months ended September 30, 2026	-	-	(1,794,075)	(714,245)	-	(55,800,092)	25,198,709	-	115,188,724	82,079,021
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(55,132)	-	55,132	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(4,064,763)	-	-	4,064,763	-

Transfer to statutory reserve	-	-	-	-	11,518,872	-	-	-	(11,518,872)	-
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)
Interim cash dividend - March 31, 2026 declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)
Interim cash dividend - June 30, 2026 declared
at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)
	-	-	-	-	-	-	-	-	(60,101,946)	(60,101,946)
Balance as at September 30, 2026 (Un-audited)	12,521,239	10,473,761	58,518,100	(714,245)	79,250,634	74,777,978	63,525,312	1,146	222,670,707	521,024,632

ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026
	January - September 2026	January - September 2025
	-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	240,501,630	222,643,895
Less: Dividend income	627,084	1,732,330
	239,874,546	220,911,565

Adjustments:
Depreciation on property and equipment	10,853,664	6,528,435
Depreciation on right-of-use assets	5,293,273	3,014,991
Depreciation on non-banking assets acquired in satisfaction of claims	16,160	29,853
Amortisation	5,425,821	833,959
Workers' Welfare Fund - charge	4,827,787	4,365,567
Provision for retirement benefits	1,752,041	1,364,137
Provision for compensated absences	92,435	109,575
Credit loss allowance / (Reversal) against loans and advances	(4,439,703)	(4,534,504)
Credit loss allowance / (Reversal) against off-balance sheet obligations - net	768,596	198,026
Credit loss allowance / (Reversal) for dimunition in value of investments	(744,361)	65,525
Credit loss allowance / (Reversal) against cash and balances with treasury banks	45,364	(122,115)
Impairment on fixed assets	160,218	-
Interest expense on lease liabilities against right-of-use assets	5,165,568	2,452,502
Gain / (loss) on sale of Ijarah assets - net	(5,623)	234
Gain on sale of property and equipment - net	(67,917)	(88,897)
Bad debts written off directly	102,383	58,036
Unrealised gain on revaluation of investments classified as FVPL	212,922	(42,667)
Credit loss allowance / (Reversal) against other assets - net	128,349	45,220
Other credit loss allowance / write-offs	68,939	183,670
	29,655,916	14,461,547
	269,530,462	235,373,112
(Increase) / decrease in operating assets
Lendings to financial institutions	3,776,202	(120,863,254)
Securities classified as FVPL	(55,281,906)	(208,564,550)
Advances	(348,375,967)	345,360,053
Other assets (excluding advance taxation)	(31,703,806)	(218,783,195)
	(431,585,477)	(202,850,946)
Increase / (decrease) in operating liabilities
Bills payable	39,329,401	(11,566,664)
Borrowings	(1,096,111,267)	868,740,628
Deposits and other accounts	1,333,024,991	2,128,578,212
Other liabilities	31,040,498	18,429,781
	307,283,623	3,004,181,957
	145,228,608	3,036,704,123
(Payments) / receipts on account of staff retirement benefits	(4,260,415)	628,616
Income taxes paid	(149,567,634)	(83,447,204)
Net cash flow generated from operating activities	(8,599,441)	2,953,885,535


	Continued on next page




ANNEXURE A-4 (2 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026	January - June 2026	January - June 2025
	-------------- (Rupees in '000) --------------

CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	1,029,072,659	(2,377,825,293)
Net investments in amortised cost securities	(665,780,297)	(213,820,407)
Net investments in subsidiaries	(8,000,000)	-
Net investments in associates	(7,785,083)	9,910
Cash acquired through business combination	-	15,198,229
Dividend income received	643,393	1,715,365
Investment in property and equipments and intangible assets	(74,625,453)	(94,585,879)
Sale proceeds from disposal of property and equipments	501,183	279,777
Sale proceeds from disposal of ijarah assets	16,217	10,360
Effect of translation of net investment in foreign branches	(1,794,075)	1,059,096
Net cash flow used in investing activities	272,248,544	(2,667,958,842)

CASH FLOW FROM FINANCING ACTIVITIES

Payment of lease liabilities against right-of-use assets	(8,992,519)	(4,870,019)
Payment of sub ordinated debt	-	(1,998,400)
Dividend paid	(59,968,887)	(47,023,178)
Net cash flow used in financing activities	(68,961,406)	(53,891,597)

Increase / (decrease) in cash and cash equivalents	194,687,697	232,035,096
Cash and cash equivalents at the beginning of the period	608,273,234	367,534,705
Effect of exchange rate changes on cash and cash equivalents	(3,446,578)	2,179,452
	604,826,656	369,714,157
Cash and cash equivalents at the end of the period	799,514,353	601,749,253

ANNEXURE B-1

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT SEPTEMBER 30, 2026


	(Un-audited) September 30, 2026	(Audited) December 31, 2025
	----------------- (Rupees in '000) --------------
ASSETS
Cash and balances with treasury banks	720,058,742	548,709,327
Balances with other banks	80,782,151	57,279,049
Lendings to financial institutions	27,798,345	31,574,547
Investments	9,531,991,637	9,956,066,916
Advances	1,721,694,040	1,369,366,395
Property and equipment	210,001,301	120,927,227
Right-of-use assets	67,046,876	36,813,438
Intangible assets	55,318,046	58,690,656
Deferred tax assets	-	-
Other assets	501,220,208	449,087,109
	12,915,911,346	12,628,514,664

LIABILITIES
Bills payable	97,961,245	58,631,844
Borrowings	5,433,903,453	6,530,014,720
Deposits and other accounts	6,492,823,615	5,168,089,899
Lease liabilities	71,162,718	39,520,412
Subordinated debt	10,000,000	10,000,000
Deferred tax liabilities	66,178,459	136,299,736
Other liabilities	214,942,193	180,666,240
	12,386,971,683	12,123,222,851

NET ASSETS	528,939,663	505,291,813

REPRESENTED BY:
Share capital	12,521,239	12,521,239
Reserves	147,528,250	138,517,698
Surplus on revaluation of assets - net	138,268,096	173,003,893
Unappropriated profit	230,534,451	181,178,532
Total equity attributable to the equity holders of the Bank	528,852,036	505,221,362

Non-controlling interest	87,627	70,451
	528,939,663	505,291,813

CONTINGENCIES AND COMMITMENTS

ANNEXURE B-2

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	July - September 2026	July - September 2025	January - September 2026	January - September 2025
	------------------------------- (Rupees in '000) ---------------------------------

Mark-up / return / interest earned	355,225,641	297,235,579	1,020,253,501	861,251,119
Mark-up / return / interest expensed	261,915,861	205,251,701	737,230,985	593,838,387
Net mark-up / interest income	93,309,780	91,983,878	283,022,516	267,412,732

Non-mark-up / interest income
Fee and commission income	8,940,349	7,793,913	26,245,952	24,282,106
Dividend income	69,610	287,126	627,084	1,651,515
Foreign exchange income	8,802,193	5,027,596	21,610,915	12,875,535
Gain / (loss) from derivatives	744,994	(1,313)	742,618	(1,255,891)
Gain / (loss) on securities - net	5,533,791	902,623	47,886,559	9,049,933
Capital gain on derecognition of financial assets measured at amortised cost	-	-	-	-
Other income	246,988	238,025	1,025,509	693,482
Total non-markup / interest income	24,337,925	14,247,970	98,138,637	47,296,680
Total income	117,647,705	106,231,848	381,161,153	314,709,412

Non-mark-up / interest expenses
Operating expenses	52,766,438	31,034,398	138,283,357	90,688,043
Workers' Welfare Fund	1,365,654	1,468,158	4,870,952	4,411,327
Other charges	21,356	45,124	36,553	47,618
Total non-mark-up / interest expenses	54,153,448	32,547,680	143,190,862	95,146,988

Share of (loss) / profit of associates	(22,746)	161,065	(172,686)	766,500
Profit before credit loss allowance	63,471,511	73,845,233	237,797,605	220,328,924
Credit loss allowance and write-offs - net	(252,830)	(822,101)	(4,460,481)	(4,711,348)
Profit before taxation	63,724,341	74,667,334	242,258,086	225,040,272

Taxation	33,073,821	39,304,932	125,700,059	124,945,657

Profit after taxation	30,650,520	35,362,402	116,558,027	100,094,615

Attributable to:
Equity holders of the Bank	30,643,523	35,355,263	116,540,851	100,077,963
Non-controlling interest	6,997	7,139	17,176	16,652
	30,650,520	35,362,402	116,558,027	100,094,615

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


Earnings per share - basic and diluted	12.24	14.12	46.54	40.19

ANNEXURE B-3 (1 of 2)

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

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	Share capital	Share Premium	Statutory Reserve	Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Surplus / (Deficit) on revaluation			Unappropriated Profit	Sub total	Non-controlling interest	Total
	Share capital	Share Premium	Statutory Reserve	Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Investments	Property and Equipment	Non-banking Assets	Unappropriated Profit	Sub total	Non-controlling interest	Total
	-------------------------------------------------------------------------------------------------------------------------------- (Rupees in '000) --------------------------------------------------------------------------------------------------------------------------------
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	322,113,848	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	100,077,963	16,652	100,094,615
Other comprehensive income - net of tax	-	-	-	1,059,096	-	63,670,854	-	-	-	64,729,950	-	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 gain 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	-	10,753,203
Transactions with owners for the nine months ended September 30, 2025, 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)	(13,465,977)	-	(13,465,977)
Interim cash dividend - March 31, 2025
declared at Rs. 11.0 per share	-	-	-	-	-	-	-	-	(13,773,363)	(13,773,363)	-	(13,773,363)
Interim cash dividend - June 30, 2025
declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
	-	-	-	-	-	-	-	-	(47,273,322)	(47,273,322)	-	(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
Total comprehensive income for the three months ended December 31, 2025
Profit after taxation for the three months ended December 31, 2025	-	-	-	-	-	-	-	-	29,921,920	29,921,920	3,839	29,925,759
Other comprehensive income - net of tax	-	-	-	(550,875)	-	33,378,908	-	-	12,103,749	44,931,782	50	44,931,832
Total comprehensive income for the three months ended December 31, 2025	-	-	-	(550,875)	-	33,378,908	-	-	42,025,669	74,853,702	3,889	74,857,591
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(19,632)	-	19,632	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(11,484)	-	-	11,484	-	-	-
Transfer to statutory reserve	-	-	2,951,549	-	-	-	-	-	(2,951,549)	-	-	-
Transactions with owners for the three months ended December 31, 2025, recorded directly in equity
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
Balance as at December 31, 2025 (Audited)	12,521,239	10,473,761	67,731,762	60,312,175	-	134,621,012	38,381,735	1,146	181,178,532	505,221,362	70,451	505,291,813
Effect of Transition to EIR Method - net of tax	-	-	-	-	-	-	-	-	315,991	315,991	-	315,991
Balance as at January 01, 2026 - as restated	12,521,239	10,473,761	67,731,762	60,312,175	-	134,621,012	38,381,735	1,146	181,494,523	505,537,353	70,451	505,607,804

							Continued on next page

ANNEXURE B-3 (2 of 2)

CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	Share capital	Share Premium	Statutory Reserve	Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Surplus / (Deficit) on revaluation			Unappropriated Profit	Sub total	Non-controlling interest	Total
	Share capital	Share Premium	Statutory Reserve	Capital Reserve - Exchange Translation	Cash Flow Hedge Reserve	Investments	Property and Equipment	Non-banking Assets	Unappropriated Profit	Sub total	Non-controlling interest	Total
	-------------------------------------------------------------------------------------------------------------------------------- (Rupees in '000) --------------------------------------------------------------------------------------------------------------------------------
Total comprehensive income for the nine months ended September 30, 2026
Profit after taxation for the nine months ended September 30, 2026	-	-	-	-	-	-	-	-	116,540,851	116,540,851	17,176	116,558,027
Other comprehensive income - net of tax	-	-	-	(1,794,075)	(714,245)	(55,814,611)	25,198,709	-	-	(33,124,222)	-	(33,124,222)
Total comprehensive income for the nine months ended September 30, 2026	-	-	-	(1,794,075)	(714,245)	(55,814,611)	25,198,709	-	116,540,851	83,416,629	17,176	83,433,805
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(55,132)	-	55,132	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(4,064,763)	-	-	4,064,763	-	-	-
Transfer to statutory reserve	-	-	11,518,872	-	-	-	-	-	(11,518,872)	-	-	-
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)	-	(20,033,982)
Interim cash dividend - March 31, 2026
declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
Interim cash dividend - June 30, 2026
declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
	-	-	-	-	-	-	-	-	(60,101,946)	(60,101,946)	-	(60,101,946)
Balance as at September 30, 2026 (Un-audited)	12,521,239	10,473,761	79,250,634	58,518,100	(714,245)	74,741,638	63,525,312	1,146	230,534,451	528,852,036	87,627	528,939,663

ANNEXURE B-4 (1 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

	January - September 2026	January - September 2025
	------------- (Rupees in '000) ------------------

CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	242,258,086	225,040,272
Less: Dividend income	627,084	1,651,515
Less: Share of (loss) / profit of associates	(172,686)	766,500
	241,803,688	222,622,257
Adjustments:
Depreciation on property and equipment	11,042,365	6,704,928
Depreciation on right-of-use assets	5,343,303	3,074,120
Depreciation on non-banking assets acquired in satisfaction of claims	16,160	29,853
Amortisation	5,440,428	844,119
Workers' Welfare Fund - charge	4,870,952	4,411,327
Provision for retirement benefits	1,771,243	1,378,476
Provision for compensated absences	132,667	109,575
Credit loss allowance against loans and advances - net	(4,439,703)	(4,534,504)
Credit loss allowance against off - balance sheet obligations - net	768,596	198,026
Credit loss allowance for diminution in value of investments - net	(744,361)	65,525
Credit loss allowance / (Reversal) against cash and balances with treasury banks	45,364	(122,115)
Impairment on fixed assets	160,218	-
Interest expense on lease liabilities against right-of-use assets	5,190,914	2,481,903
Loss on sale of Ijarah assets - net	(5,623)	234
Gain on sale of property and equipments - net	(69,554)	(89,048)
Bad debts written-off directly	102,383	58,036
Unrealised gain on revaluation of investments classified as FVPL	212,922	(42,667)
Credit loss allowance against other assets	128,349	45,220
Other credit loss allowance / write-offs	68,939	183,670
	30,035,562	14,796,678
	271,839,250	237,418,935
(Increase) / decrease in operating assets
Lendings to financial institutions	3,776,202	(120,863,254)
Securities classified as FVPL	(56,069,422)	(208,564,550)
Advances	(341,166,216)	345,360,053
Other assets (excluding advance taxation)	(35,782,317)	(215,464,935)
	(429,241,753)	(199,532,686)
Increase / (decrease) in operating liabilities
Bills payable	39,329,401	(11,566,664)
Borrowings	(1,096,111,267)	868,740,628
Deposits and other accounts	1,324,733,716	2,128,454,253
Other liabilities	28,476,123	18,115,688
	296,427,973	3,003,743,905
	139,025,470	3,041,630,154
(Payments) / receipts on account of staff retirement benefits	(4,314,996)	628,529
Income taxes paid	(149,922,445)	(83,919,249)
Net cash flow (used in) / generated from operating activities	(15,211,971)	2,958,339,434

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, 2026

	January - September 2026	January - September 2025
	----------------- (Rupees in '000) -------------

CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	1,029,075,559	(2,380,475,512)
Net investments in amortised cost securities	(665,780,297)	(213,820,407)
Net investments in associates	(7,909,597)	(1,752,858)
Cash acquired through business combination	-	15,198,229
Dividend income received	643,393	1,668,480
Investment in property and equipments and intangible assets	(75,578,488)	(94,637,486)
Sale proceeds from disposal of property and equipments	509,139	283,496
Sale proceeds from disposal of ijarah assets	16,217	27,645
Effect of translation of net investment in foreign branches	(1,794,075)	1,059,096
Net cash flow generated from / (used in) investing activities	279,181,851	(2,672,449,317)

CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets	(9,148,476)	(4,992,057)
Payment of subordinated debt	-	(1,998,400)
Dividend paid	(59,968,887)	(47,023,178)
Net cash flow used in financing activities	(69,117,363)	(54,013,635)
Increase in cash and cash equivalents	194,852,517	231,876,482
Cash and cash equivalents at the beginning of the period	609,447,716	368,625,170
Effect of exchange rate changes on cash and cash equivalents	(3,459,340)	2,179,452
	605,988,376	370,804,622
Cash and cash equivalents at the end of the period	800,840,893	602,681,104

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