Financial Results for the Quarter Ended 30 June 26

Original source on investegate.co.uk

United Bank Limited

22 July 2026

Secretary's Department

UBL/BOD-262/PSX/Results/26

22 July 2026

The General Manager,

Pakistan Stock Exchange Limited,

Stock Exchange Building,

Stock Exchange Road,

Karachi

Dear Sir,

Financial Results for the 2^nd Quarter Ended 30 June 2026

We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 262^nd meeting held on Wednesday 22 July 2026 at Islamabad at 10:00 a.m., inter-alia, recommended the following:

(i) Cash Dividend

An Interim Cash Dividend for the 2^nd Quarter ended 30 June 2026 at Rs. 8/- per share i.e. 160%. This is

in addition to interim Dividend already paid at Rs.8/- per share i.e.160%.

(ii) Bonus Shares

--- NIL ---

(iii) Right Shares

--- NIL ---

(iv) Any Other Entitlement / Corporate Action

--- NIL ---

(v) Any Other Price-Sensitive Information

In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book of Pakistan Stock Exchange Limited, United Bank Limited ("UBL" or the "Bank") hereby conveys the following material information:

1- The Board of Directors of UBL has approved, subject to receipt of all applicable corporate and regulatory approvals, the establishment by UBL of a private limited company as a subsidiary in which UBL will hold a majority stake, with an investment by UBL of PKR 8 Billion.

Primary objective of this new company is to strengthen agriculture sector of the country and social uplift of the farmers. The company aims to design, develop and provide technology-enabled advisory and research services aimed at improving agricultural productivity, sustainability, and the livelihoods and incomes of farmers and other agricultural value chain participants.

2- The Board of Directors of UBL has approved, subject to receipt of all applicable shareholders, corporate and regulatory approvals, a further equity investment in Khushhali Microfinance Bank Limited ("KMBL"), an associated company of the Bank, of up to PKR 22 billion through participation in the rights issue and the acquisition of additional shares, including pursuant to its underwriting commitments.

KMBL had negative equity of Rs. 16.15 billion as on December 31, 2025. UBL's investment would help strengthen the financials of KMBL and help in stability of financial markets of Pakistan.

The proposed transaction remains subject to approval of the shareholders of UBL under Section 199 of the Companies Act, 2017, together with receipt of all requisite regulatory approvals and completion of all applicable legal and corporate formalities.

3- The Board of Directors of UBL has approved, subject to receipt of all applicable corporate and regulatory approvals, the establishment by UBL, along with other promoters, of a University as a not-for-profit company under Section 42 to the Companies Act, 2017 or charitable trust with contribution of PKR 10 Billion by UBL over a period of three to five years. The university would be setup in collaboration with Bestway Foundation which would match the UBL's contribution.

4- Mr. Shoukat Ali has been appointed as the Company Secretary of UBL with Immediate effect.

You may please inform THE Certificate Holders of the exchange accordingly.

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 Friday, 31 July 2026.

The Share Transfer Books of UBL will remain closed from Monday, 03 August 2026 to Wednesday, 05 August 2026 (both days inclusive). 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 Friday, 31 July 2026 will be treated in time for the purpose of payment of 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)

1. Consolidated Statements of Financial Position

2. Consolidated Statements of Profit and Loss

3. Consolidated Statement of Changes in Equity

4. Consolidated Statements of Cash Flows

The Quarterly Financial Statements (Quarterly Report) of the Bank for the 2^nd Quarter ended 30 June 2026 will be transmitted through PUCARS separately, within stipulated time.

Yours faithfully,

Sd/-

Aqeel Ahmed Nasir

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 JUNE 30, 2026

(Un-audited)

(Audited)

June 30,

2026

December 31,

2025

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

ASSETS

Cash and balances with treasury banks

730,124,700

547,646,979

Balances with other banks

123,708,134

57,179,677

Lendings to financial institutions

1,229,750

31,574,547

Investments

11,915,161,960

9,951,054,650

Advances

1,533,725,110

1,369,366,395

Property and equipment

182,877,797

120,546,171

Right-of-use assets

55,194,224

36,198,112

Intangible assets

56,319,611

58,353,831

Deferred tax assets

Other assets

546,790,649

448,273,083

15,145,131,935

12,620,193,445

LIABILITIES

Bills payable

178,623,674

58,631,844

Borrowings

7,999,039,269

6,530,014,720

Deposits and other accounts

6,118,550,247

5,168,424,418

Lease liabilities

58,416,629

38,873,814

Subordinated debt

10,000,000

Deferred tax liabilities

82,651,251

135,943,237

Other liabilities

178,048,726

179,573,846

14,625,329,796

12,121,461,879

NET ASSETS

519,802,139

498,731,566

REPRESENTED BY:

Share capital

12,521,239

Reserves

146,568,740

138,517,698

Surplus on revaluation of assets - net

145,233,580

173,025,714

Unappropriated profit

215,478,580

174,666,915

519,802,139

498,731,566

CONTINGENCIES AND COMMITMENTS

ANNEXURE - A-2

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

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	April - June 2026	April - June 2025	January - June 2026	January - June 2025
	April - June 2026	April - June 2025	January - June 2026	January - June 2025
	----------------------------- (Rupees in '000) ----------------------------------
Mark-up / return / interest earned	341,495,299	303,036,068	665,014,561	563,993,829
Mark-up / return / interest expensed	251,219,563	211,838,956	475,318,229	388,571,581
Net mark-up / interest income	90,275,736	91,197,112	189,696,332	175,422,248

Non mark-up / interest income
Fee and commission income	7,250,263	8,037,476	15,087,250	14,505,019
Dividend income	412,323	570,794	557,474	1,433,520
Foreign exchange income	8,287,773	3,966,460	12,226,687	7,443,622
Gain / (loss) from derivatives	882,686	(1,761)	(2,376)	(1,254,578)
Gain / (loss) on securities - net	11,856,216	2,321,537	42,392,150	8,147,310
Capital gain on derecognition of financial assets measured at amortised cost	-	-	-	-
Other income	200,693	270,536	800,712	487,964
Total non mark-up / interest income	28,889,954	15,165,042	71,061,897	30,762,857
Total Income	119,165,690	106,362,154	260,758,229	206,185,105

Non mark-up / Interest expenses
Operating expenses	46,103,574	33,867,342	84,073,572	58,486,445
Workers' Welfare Fund	1,476,088	1,437,459	3,477,060	2,915,104
Other charges	6,981	1,841	15,172	2,494
Total non mark-up / interest expenses	47,586,643	35,306,642	87,565,804	61,404,043

Profit before credit loss allowance	71,579,047	71,055,512	173,192,425	144,781,062
Credit loss allowance and write-offs - net	(3,752,575)	(2,280,430)	(4,207,651)	(3,889,247)

Profit before taxation	75,331,622	73,335,942	177,400,076	148,670,309

Taxation	39,339,574	45,140,968	92,430,170	84,879,717

Profit after taxation	35,992,048	28,194,974	84,969,906	63,790,592

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

Earnings per share - basic and diluted	14.37	11.26	33.93	25.69

ANNEXURE A-3 (1 of 3)

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

FOR THE SIX MONTHS ENDED JUNE 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 six months ended June 30, 2025
Profit after taxation for the six months ended June 30, 2025	-	-	-	-	-	-	-	-	63,790,592	63,790,592
Other comprehensive income - net of tax	-	-	2,184,782	-	-	59,345,400	-	-	-	61,530,182
Total comprehensive income for the six months ended June 30, 2025	-	-	2,184,782	-	-	59,345,400	-	-	63,790,592	125,320,774
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(49,362)	-	49,362	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(175,708)	-	-	175,708	-

Share issued under amalgamation	279,442	10,473,761	-	-	-	-	-	-	-	10,753,203

Transfer to statutory reserve	-	-	-	-	6,379,059	-	-	-	(6,379,059)	-
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)
									(27,239,340)	(27,239,340)
Balance as at June 30, 2025 (Un-audited)	12,521,239	10,473,761	61,988,736	-	61,309,936	99,360,647	38,404,087	1,146	142,353,081	426,412,633

Continued on next page

ANNEXURE A-3 (2 of 3)

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

FOR THE SIX MONTHS ENDED JUNE 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 six months December 31, 2025
Profit after taxation for the six months ended December 31, 2025	-	-		-	-	-	-	-	-	64,218,255	64,218,255
Other comprehensive income - net of tax	-	-		(1,676,561)	-	-	37,745,802	-	-	12,099,401	48,168,642
Total comprehensive income for the six months ended December 31, 2025	-	-		(1,676,561)	-	-	37,745,802	-	-	76,317,656	112,386,897
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-		-	-	-	-	(22,352)	-	(22,352)	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-		-	-	-	(2,463,616)	-	-	2,463,616	-
Transfer to statutory reserve	-	-		-	-	6,421,826	-	-	-	(6,421,826)	-
Transactions with owners, recorded directly in equity
Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share	-	-		-	-	-	-	-	-	(20,033,982)	(20,033,982)
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share	-	-		-	-	-	-	-	-	(20,033,982)	(20,033,982)
	-	-		-	-	-	-	-	-	(40,067,964)	(40,067,964)
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 SIX MONTHS ENDED JUNE 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 six months ended June 30, 2026
Profit after taxation for the six months ended June 30, 2026	-	-	-	-	-	-	-	-	84,969,906	84,969,906
Other comprehensive income - net of tax	-	-	(1,185,157)	739,209	-	(47,390,589)	23,689,177	-	-	(24,147,360)
Total comprehensive income for the six months ended June 30, 2026	-	-	(1,185,157)	739,209	-	(47,390,589)	23,689,177	-	84,969,906	60,822,546
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(27,338)	-	27,338	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(4,063,384)	-	-	4,063,384	-

Transfer to statutory reserve	-	-	-	-	8,496,990	-	-	-	(8,496,990)	-
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)
	-	-	-	-	-	-	-	-	(40,067,964)	(40,067,964)
Balance as at June 30, 2026 (Un-audited)	12,521,239	10,473,761	59,127,018	739,209	76,228,752	83,188,860	62,043,574	1,146	215,478,580	519,802,139

ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2026
	January - June 2026	January - June 2025
	-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	177,400,076	148,670,309
Less: Dividend income	557,474	1,433,520
	176,842,602	147,236,789

Adjustments:
Depreciation on property and equipment	6,664,522	4,096,700
Depreciation on right-of-use assets	3,283,175	1,841,498
Depreciation on non-banking assets acquired in satisfaction of claims	8,080	15,861
Amortisation	3,614,297	557,282
Workers' Welfare Fund - charge	3,477,060	2,915,104
Provision for retirement benefits	1,165,071	910,693
Provision for compensated absences	193,828	74,743
Credit loss allowance / (Reversal) against loans and advances	(2,146,034)	(4,083,719)
Credit loss allowance / (Reversal) against off-balance sheet obligations - net	(354,490)	116,371
Credit loss allowance / (Reversal) for dimunition in value of investments	(1,327,502)	427,588
Credit loss allowance / (Reversal) against cash and balances with treasury banks	(7,080)	(33,302)
Impairment on fixed assets	160,218	-
Interest expense on lease liabilities against right-of-use assets	3,094,721	1,444,751
Loss on sale of Ijarah assets - net	97	234
Gain on sale of property and equipment - net	(66,613)	(75,331)
Bad debts written off directly	61,417	49,843
Unrealised gain on revaluation of investments classified as FVPL	(941,220)	(110,900)
Credit loss allowance / (Reversal) against other assets - net	100,454	(2,301)
Other credit loss allowance / write-offs	(215,648)	60,489
	16,764,353	8,205,604
	193,606,955	155,442,393
(Increase) / decrease in operating assets
Lendings to financial institutions	30,344,797	(72,240,238)
Securities classified as FVPL	(514,518,846)	(251,153,986)
Advances	(155,355,643)	386,399,490
Other assets (excluding advance taxation)	(70,129,136)	(173,515,395)
	(709,658,828)	(110,510,129)
Increase / (decrease) in operating liabilities
Bills payable	119,991,830	8,504,986
Borrowings	1,469,024,549	1,216,244,381
Deposits and other accounts	950,125,829	1,652,123,475
Other liabilities	(5,792,691)	(23,136,314)
	2,533,349,517	2,853,736,528
	2,017,297,644	2,898,668,792
Payments on account of staff retirement benefits	(4,423,933)	(339,765)
Income taxes paid	(120,675,218)	(55,139,175)
Net cash flow generated from operating activities	1,892,198,493	2,843,189,852


	Continued on next page




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

CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	(1,240,705,986)	(2,596,068,098)
Net investments in amortised cost securities	(307,683,988)	(16,335,701)
Net investments in associates	(7,785,083)	-
Cash acquired through business combination	-	15,198,229
Dividend income received	522,802	1,433,520
Investment in property and equipments and intangible assets	(44,114,420)	(84,980,619)
Sale proceeds from disposal of property and equipments	639,389	187,103
Sale proceeds from disposal of ijarah assets	10,497	10,360
Effect of translation of net investment in foreign branches	(1,185,157)	2,184,782
Net cash flow used in investing activities	(1,600,301,946)	(2,678,370,424)

CASH FLOW FROM FINANCING ACTIVITIES

Payment of lease liabilities against right-of-use assets	(5,854,093)	(3,291,553)
Payment of sub ordinated debt	-	(999,800)
Dividend paid	(37,036,276)	(27,084,332)
Net cash flow used in financing activities	(42,890,369)	(31,375,685)

Increase / (decrease) in cash and cash equivalents	249,006,178	133,443,743
Cash and cash equivalents at the beginning of the period	607,084,650	365,826,238
Effect of exchange rate changes on cash and cash equivalents	(2,257,994)	3,887,919
	604,826,656	369,714,157
Cash and cash equivalents at the end of the period	853,832,834	503,157,900

ANNEXURE B-1

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT JUNE 30, 2026


	(Un-audited) June 30, 2026	(Audited) December 31, 2025
	----------------- (Rupees in '000) -----------------
ASSETS
Cash and balances with treasury banks	731,215,749	548,709,327
Balances with other banks	123,774,830	57,279,049
Lendings to financial institutions	1,229,750	31,574,547
Investments	11,920,566,462	9,956,066,916
Advances	1,533,725,110	1,369,366,395
Property and equipment	183,303,046	120,927,227
Right-of-use assets	55,748,790	36,813,438
Intangible assets	56,662,905	58,690,656
Deferred tax assets	-	-
Other assets	547,457,113	449,087,109
	15,153,683,755	12,628,514,664

LIABILITIES
Bills payable	178,623,674	58,631,844
Borrowings	7,999,039,269	6,530,014,720
Deposits and other accounts	6,117,938,516	5,168,089,899
Lease liabilities	59,023,701	39,520,412
Subordinated debt	10,000,000	10,000,000
Deferred tax liabilities	82,754,881	136,299,736
Other liabilities	178,996,296	180,666,240
	14,626,376,337	12,123,222,851

NET ASSETS	527,307,418	505,291,813

REPRESENTED BY:
Share capital	12,521,239	12,521,239
Reserves	146,568,740	138,517,698
Surplus on revaluation of assets - net	145,219,190	173,003,893
Unappropriated profit	222,917,619	181,178,532
Total equity attributable to the equity holders of the Bank	527,226,788	505,221,362

Non-controlling interest	80,630	70,451
	527,307,418	505,291,813

CONTINGENCIES AND COMMITMENTS

ANNEXURE B-2

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

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	April - June 2026	April - June 2025	January - June 2026	January - June 2025
	-------------------------------------------- (Rupees in '000) ------------------------------

Mark-up / return / interest earned	341,500,405	303,047,515	665,027,860	564,015,540
Mark-up / return / interest expensed	251,209,761	211,841,680	475,315,124	388,586,686
Net mark-up / interest income	90,290,644	91,205,835	189,712,736	175,428,854

Non-mark-up / interest income
Fee and commission income	8,368,587	8,982,232	17,305,603	16,488,193
Dividend income	412,323	501,663	557,474	1,364,389
Foreign exchange income	8,625,403	4,177,999	12,808,722	7,847,939
Gain / (loss) from derivatives	882,686	(1,761)	(2,376)	(1,254,578)
Gain on securities - net	11,928,450	2,321,537	42,352,768	8,147,310
Capital gain on derecognition of financial assets measured at amortised cost	-	-	-	-
Other income	192,396	245,210	778,521	455,457
Total non-markup / interest income	30,409,845	16,226,880	73,800,712	33,048,710
Total income	120,700,489	107,432,715	263,513,448	208,477,564

Non-mark-up / interest expenses
Operating expenses	46,873,499	34,447,356	85,516,919	59,653,645
Workers' Welfare Fund	1,495,976	1,451,550	3,505,298	2,943,169
Other charges	7,006	1,841	15,197	2,494
Total non-mark-up / interest expenses	48,376,481	35,900,747	89,037,414	62,599,308

Share of profit / (loss) of associates	1,856,096	422,516	(149,940)	605,435
Profit before credit loss allowance	74,180,104	71,954,484	174,326,094	146,483,691
Credit loss allowance and write-offs - net	(3,752,575)	(2,280,430)	(4,207,651)	(3,889,247)
Profit before taxation	77,932,679	74,234,914	178,533,745	150,372,938

Taxation	40,445,541	45,614,327	92,626,238	85,640,725

Profit after taxation	37,487,138	28,620,587	85,907,507	64,732,213

Attributable to:
Equity holders of the Bank	37,480,089	28,615,924	85,897,328	64,722,700
Non-controlling interest	7,049	4,663	10,179	9,513
	37,487,138	28,620,587	85,907,507	64,732,213

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


Earnings per share - basic and diluted	14.97	11.43	34.30	26.07

ANNEXURE B-3 (1 of 2)

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

FOR THE SIX MONTHS ENDED JUNE 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 six months ended June 30, 2025
Profit after taxation for the six months ended June 30, 2025	-	-	-	-	-	-	-	-	64,722,700	64,722,700	9,513	64,732,213
Other comprehensive income - net of tax	-	-	-	2,184,782	-	59,319,442	-	-	-	61,504,224	-	61,504,224
Total comprehensive income for the six months ended June 30, 2025	-	-	-	2,184,782	-	59,319,442	-	-	64,722,700	126,226,924	9,513	126,236,437
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(49,362)	-	49,362	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(175,708)	-	-	175,708	-	-	-
Transfer to statutory reserve	-	-	6,379,059	-	-	-	-	-	(6,379,059)	-	-	-
Shares issued under amalgamation	279,442	10,473,761	-	-	-	-	-	-	-	10,753,203	-	10,753,203
Transactions with owners for the six months ended June 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)
	-	-	-	-	-	-	-	-	(27,239,340)	(27,239,340)		(27,239,340)
Balance as at June 30, 2025 (Un-audited)	12,521,239	10,473,761	61,309,936	61,988,736	-	99,354,308	38,404,087	1,146	147,801,422	431,854,635	59,423	431,914,058
Total comprehensive income for the six months ended December 31, 2025
Profit after taxation for the six months ended December 31, 2025	-	-	-	-	-	-	-	-	65,277,183	65,277,183	10,978	65,288,161
Other comprehensive income - net of tax	-	-	-	(1,676,561)	-	37,730,320	-	-	12,103,749	48,157,508	50	48,157,558
Total comprehensive income for the six months ended December 31, 2025	-	-	-	(1,676,561)	-	37,730,320	-	-	77,380,932	113,434,691	11,028	113,445,719
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(22,352)	-	22,352	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(2,463,616)	-	-	2,463,616	-	-	-
Transfer to statutory reserve	-	-	6,421,826	-	-	-	-	-	(6,421,826)	-	-	-
Transactions with owners for the six months ended December 31, 2025, recorded directly in equity
Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
Interim cash dividend - September 30, 2025 declared at Rs. 8.0 per share	-	-	-	-	-	-	-	-	(20,033,982)	(20,033,982)	-	(20,033,982)
	-	-	-	-	-	-	-	-	(40,067,964)	(40,067,964)	-	(40,067,964)
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 (1 of 2)

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

FOR THE SIX MONTHS ENDED June 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 six months ended June 30, 2026
Profit after taxation for the six months ended June 30, 2026	-	-	-	-	-	-	-	-	85,897,328	85,897,328	10,179	85,907,507
Other comprehensive income - net of tax	-	-	-	(1,185,157)	739,209	(47,383,158)	23,689,177	-	-	(24,139,929)	-	(24,139,929)
Total comprehensive income for the six months ended June 30, 2026	-	-	-	(1,185,157)	739,209	(47,383,158)	23,689,177	-	85,897,328	61,757,399	10,179	61,767,578
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax	-	-	-	-	-	-	(27,338)	-	27,338	-	-	-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax	-	-	-	-	-	(4,063,384)	-	-	4,063,384	-	-	-
Transfer to statutory reserve	-	-	8,496,990	-	-	-	-	-	(8,496,990)	-	-	-
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)
	-	-	-	-	-	-	-	-	(40,067,964)	(40,067,964)	-	(40,067,964)
Balance as at June 30, 2026 (Un-audited)	12,521,239	10,473,761	76,228,752	59,127,018	739,209	83,174,470	62,043,574	1,146	222,917,619	527,226,788	80,630	527,307,418

ANNEXURE B-4 (1 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

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

CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation	178,533,745	150,372,938
Less: Dividend income	557,474	1,364,389
Less: Share of (loss) / profit of associates	(149,940)	605,435
	178,126,211	148,403,114
Adjustments:
Depreciation on property and equipment	6,735,459	4,143,442
Depreciation on right-of-use assets	3,314,997	1,890,306
Depreciation on non-banking assets acquired in satisfaction of claims	8,080	15,861
Amortisation	3,623,815	564,200
Workers' Welfare Fund - charge	3,505,298	2,943,169
Provision for retirement benefits	1,177,872	935,205
Provision for compensated absences	91,046	74,743
Credit loss allowance against loans and advances - net	(2,146,034)	(4,083,719)
Credit loss allowance against off - balance sheet obligations - net	(354,490)	116,371
Credit loss allowance for diminution in value of investments - net	(1,327,502)	427,588
Credit loss allowance / (Reversal) against cash and balances with treasury banks	(7,080)	(33,302)
Impairment on fixed assets	160,218	-
Interest expense on lease liabilities against right-of-use assets	3,110,982	1,466,817
Loss on sale of Ijarah assets - net	97	234
Gain on sale of property and equipments - net	(66,689)	(75,332)
Bad debts written-off directly	61,417	49,843
Unrealised gain on revaluation of investments classified as FVPL	(941,220)	(110,900)
Credit loss allowance against other assets	100,454	(2,301)
Other credit loss allowance / write-offs	(215,648)	60,489
	16,831,072	8,382,714
	194,957,283	156,785,828
(Increase) / decrease in operating assets
Lendings to financial institutions	30,344,797	(72,240,238)
Securities classified as FVPL	(514,518,847)	(251,153,986)
Advances	(155,355,643)	386,448,883
Other assets (excluding advance taxation)	(70,305,210)	(173,355,586)
	(709,834,903)	(110,300,927)
Increase / (decrease) in operating liabilities
Bills payable	119,991,830	8,504,986
Borrowings	1,469,024,549	1,216,244,381
Deposits and other accounts	949,848,617	1,652,017,699
Other liabilities	(5,793,214)	(22,899,837)
	2,533,071,782	2,853,867,229
	2,018,194,162	2,900,352,130
Payments on account of staff retirement benefits	(4,335,499)	(354,709)
Income taxes paid	(121,060,719)	(55,584,101)
Net cash flow generated from operating activities	1,892,797,944	2,844,413,320

Continued on next page

ANNEXURE B-4 (2 of 2)

CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

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

CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI	(1,240,706,331)	(2,596,119,863)
Net investments in amortised cost securities	(307,683,988)	(16,335,701)
Net investments in associates	(8,027,034)	(1,132,233)
Cash acquired through business combination	-	15,198,229
Dividend income received	469,288	1,364,389
Investment in property and equipments and intangible assets	(44,251,855)	(85,124,634)
Sale proceeds from disposal of property and equipments	645,783	188,088
Sale proceeds from disposal of ijarah assets	10,497	27,645
Effect of translation of net investment in foreign branches	(1,185,157)	2,184,782
Net cash flow used in investing activities	(1,600,728,797)	(2,679,749,298)

CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities against right-of-use assets	(6,030,668)	(3,365,246)
Payment of subordinated debt	-	(999,800)
Dividend paid	(37,036,276)	(27,084,332)
Net cash flow used in financing activities	(43,066,944)	(31,449,378)
Increase in cash and cash equivalents	249,002,203	133,214,644
Cash and cash equivalents at the beginning of the period	608,256,722	366,968,159
Effect of exchange rate changes on cash and cash equivalents	(2,268,346)	3,836,463
	605,988,376	370,804,622
Cash and cash equivalents at the end of the period	854,990,579	504,019,266

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