United Bank (UBL) Q2 2025 earnings summary

Executive summary

• H1’25 standalone PBT rose 158% YoY to Rs 148.7bn; PAT reached Rs 63.8bn and EPS Rs 25.69, versus Rs 29.4bn and Rs 12.03 in H1’24.

• Consolidated H1’25 PAT was Rs 64.7bn versus Rs 31.4bn YoY; EPS was Rs 26.07 versus Rs 12.58.

• Standalone gross revenues increased 123% YoY to Rs 206.2bn, led by net mark-up income of Rs 175.4bn.

Financial highlights

• Standalone H1’25 total income was Rs 206.2bn versus Rs 92.3bn; profit before tax was Rs 148.7bn versus Rs 57.7bn.

• Consolidated H1’25 total income was Rs 208.5bn versus Rs 97.9bn; PBT was Rs 150.4bn versus Rs 60.2bn.

• Standalone non-mark-up income was Rs 30.8bn; fees and commissions reached Rs 14.5bn, up 44% YoY, supported by card fees, trade, corporate services and remittances.

• Standalone operating expenses rose 64% YoY to Rs 58.5bn; staff costs increased 59% to Rs 23.0bn, property costs 47% to Rs 7.2bn and IT costs 20% to Rs 4.8bn.

• Net credit loss allowance reversal was Rs 3.9bn versus a Rs 2.4bn reversal in H1’24, primarily reflecting recoveries in the international portfolio.

Outlook and guidance

• Integration following the Silk Bank merger is underway, with a focus on synergies, deeper market penetration and enhanced customer service across urban and regional centers.

• Digital transformation efforts include platform enhancements to improve customer experience and efficiency and strengthen cybersecurity; talent and leadership development remain investment priorities.

• Management expressed confidence in sustained growth, profitability and stakeholder value creation.