Earnings Report /

United Bank: 2QCY21 review – first provisioning reversal since 2017

  • UBL has posted consolidated 2QCY21 EPS: PKR6.04, up 22% yoy but down 3% qoq

  • The result is above our projected 2Q earnings of PKR5.50/sh, and so is the cash payout of PKR4.0/sh

  • Impressive c. PKR0.5bn provisioning reversal and strong rebound in fee led the deviation

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
9 August 2021