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United Bank

LSE:UBLS
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UBLS
LSE
PKR170B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

United Bank Limited provides commercial banking and related services in Pakistan, the Middle East, the United States, Europe, and Africa. The last earnings update was 60 days ago. More info.


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UBLS Share Price and Events
7 Day Returns
0%
LSE:UBLS
1%
GB Banks
0.6%
GB Market
1 Year Returns
0%
LSE:UBLS
-8.7%
GB Banks
1.1%
GB Market
UBLS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
United Bank (UBLS) 0% 0% 0% 0% 16.4% 156%
GB Banks 1% 7.9% 4.8% -8.7% 17% -11.2%
GB Market 0.6% 3.6% 6.9% 1.1% 15.6% 6.2%
1 Year Return vs Industry and Market
  • UBLS outperformed the Banks industry which returned -8.7% over the past year.
  • UBLS underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.1% over the past year.
Price Volatility
UBLS
Industry
5yr Volatility vs Market

Value

 Is United Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of United Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for United Bank.

LSE:UBLS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= PKR150.50 * 16.1%
PKR24.27
Book Value of Equity per Share Weighted future Book Value estimates from 9 analysts. PKR150.50
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:UBLS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 30%) (172.07%))
1.206
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.21
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.206 * 5.96%)
8.42%

Discounted Cash Flow Calculation for LSE:UBLS using Excess Returns Model Model

The calculations below outline how an intrinsic value for United Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:UBLS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (16.1% – 8.42%) * PKR150.50)
PKR11.60
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= PKR11.60 / (8.42% - 1.23%)
PKR161.40
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= PKR150.50 + PKR161.40
PKR311.9
LSE:UBLS Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:UBLS represents 0.04604x of KASE:UBL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.04604x
Value per Share
(Listing Adjusted, USD)
= Value per Share (PKR) x Listing Adjustment Factor
= PKR 311.90 x 0.04604
$14.36
Value per share (USD) From above. $14.36
Current discount Discount to share price of $6.40
= -1 x ($6.40 - $14.36) / $14.36
55.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price United Bank is available for.
Intrinsic value
>50%
Share price is $6.4 vs Future cash flow value of $14.36
Current Discount Checks
For United Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • United Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • United Bank's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for United Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are United Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:UBLS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PKR PKR12.65
KASE:UBL Share Price ** KASE (2019-04-18) in PKR PKR139
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.35x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of United Bank.

LSE:UBLS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= KASE:UBL Share Price ÷ EPS (both in PKR)

= 139 ÷ 12.65

10.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • United Bank is overvalued based on earnings compared to the GB Banks industry average.
  • United Bank is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does United Bank's expected growth come at a high price?
Raw Data
LSE:UBLS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
27.6%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

LSE:UBLS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.99x ÷ 27.6%

0.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • United Bank is good value based on expected growth next year.
Price based on value of assets
What value do investors place on United Bank's assets?
Raw Data
LSE:UBLS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PKR PKR133.20
KASE:UBL Share Price * KASE (2019-04-18) in PKR PKR139
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.51x
LSE:UBLS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= KASE:UBL Share Price ÷ Book Value per Share (both in PKR)

= 139 ÷ 133.20

1.04x

* Primary Listing of United Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • United Bank is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess United Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. United Bank has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is United Bank expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
27.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is United Bank expected to grow at an attractive rate?
  • United Bank's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • United Bank's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • United Bank's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:UBLS Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:UBLS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 27.6%
LSE:UBLS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 10.5%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:UBLS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in PKR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:UBLS Future Estimates Data
Date (Data in PKR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 96,466 36,662 3
2020-12-31 87,173 31,014 5
2019-12-31 72,949 21,724 3
LSE:UBLS Past Financials Data
Date (Data in PKR Millions) Revenue Cash Flow Net Income *
2018-12-31 71,790 -332,482 15,483
2018-09-30 75,451 -210,819 16,589
2018-06-30 77,227 -206,490 19,145
2018-03-31 78,994 -139,684 21,456
2017-12-31 79,759 132,294 25,949
2017-09-30 80,344 163,904 25,603
2017-06-30 80,618 113,388 26,558
2017-03-31 81,967 14,658 27,789
2016-12-31 82,350 9,444 27,783
2016-09-30 82,000 68,487 27,842
2016-06-30 82,139 75,078 27,606
2016-03-31 79,373 76,906 26,112

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • United Bank's earnings are expected to grow significantly at over 20% yearly.
  • United Bank's revenue is expected to grow by 10.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:UBLS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from United Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:UBLS Future Estimates Data
Date (Data in PKR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 33.27 44.64 28.60 4.00
2020-12-31 27.19 32.81 24.70 5.00
2019-12-31 19.24 21.25 17.70 5.00
LSE:UBLS Past Financials Data
Date (Data in PKR Millions) EPS *
2018-12-31 12.65
2018-09-30 13.54
2018-06-30 15.64
2018-03-31 17.54
2017-12-31 21.20
2017-09-30 20.92
2017-06-30 21.69
2017-03-31 22.70
2016-12-31 22.70
2016-09-30 22.74
2016-06-30 22.55
2016-03-31 21.33

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • United Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess United Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
United Bank has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has United Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare United Bank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • United Bank's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • United Bank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • United Bank's 1-year earnings growth is negative, it can't be compared to the GB Banks industry average.
Earnings and Revenue History
United Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from United Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:UBLS Past Revenue, Cash Flow and Net Income Data
Date (Data in PKR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 71,789.88 15,483.05 -1,404.46
2018-09-30 75,451.23 16,588.51 39,400.25
2018-06-30 77,227.30 19,144.73 38,687.66
2018-03-31 78,993.96 21,455.98 37,590.56
2017-12-31 79,759.43 25,948.72 1,955.97
2017-09-30 80,344.42 25,602.74 36,659.92
2017-06-30 80,617.97 26,558.06 35,299.63
2017-03-31 81,966.90 27,788.83 34,466.06
2016-12-31 82,350.48 27,782.76 34,362.86
2016-09-30 82,000.46 27,842.01 34,630.31
2016-06-30 82,138.72 27,605.69 34,582.78
2016-03-31 79,373.14 26,112.07 34,304.90
2015-12-31 77,723.91 26,154.34 33,094.47
2015-09-30 77,148.48 26,425.10 32,217.47
2015-06-30 74,661.02 25,355.70 31,822.48
2015-03-31 71,142.24 25,690.44 31,314.65
2014-12-31 66,933.59 23,647.70 30,698.54
2014-09-30 64,719.45 22,698.00 29,742.05
2014-06-30 62,541.60 21,728.24 29,228.96
2014-03-31 59,400.86 20,122.52 28,482.28
2013-12-31 57,331.48 19,285.51 27,759.46
2013-09-30 53,740.24 17,929.09 26,765.32
2013-06-30 53,575.14 18,692.61 26,390.66
2013-03-31 53,116.35 18,976.79 25,874.03
2012-12-31 52,566.81 19,158.14 24,928.10
2012-09-30 52,760.58 19,139.04 23,817.30
2012-06-30 50,657.98 17,761.54 22,451.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • United Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • United Bank used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if United Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess United Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
United Bank has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is United Bank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of United Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from United Bank Company Filings, last reported 3 months ago.

LSE:UBLS Past Debt and Equity Data
Date (Data in PKR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 168,623.86 292,753.52 266,695.14
2018-09-30 166,383.14 318,951.73 198,770.53
2018-06-30 166,961.05 299,954.80 246,124.05
2018-03-31 172,056.56 271,870.14 253,894.52
2017-12-31 174,493.76 517,954.22 219,757.52
2017-09-30 166,083.55 476,270.62 171,769.60
2017-06-30 166,502.90 399,929.27 186,712.31
2017-03-31 167,143.85 254,340.09 174,138.23
2016-12-31 163,729.22 207,301.75 97,945.54
2016-09-30 166,773.09 254,481.74 145,748.93
2016-06-30 165,063.54 219,283.35 140,446.20
2016-03-31 159,949.14 162,306.79 102,101.01
2015-12-31 155,599.05 165,912.19 87,266.12
2015-09-30 153,782.10 173,003.39 102,080.99
2015-06-30 148,012.12 122,695.07 136,253.71
2015-03-31 145,521.80 74,209.82 120,955.75
2014-12-31 137,504.61 56,141.82 75,427.31
2014-09-30 116,656.13 63,416.94 120,484.83
2014-06-30 112,584.23 35,285.59 125,692.07
2014-03-31 110,043.01 43,890.36 109,758.47
2013-12-31 111,273.15 43,770.89 97,339.18
2013-09-30
2013-06-30 104,746.43 76,538.49 115,492.85
2013-03-31 100,922.39 104,959.84 117,029.30
2012-12-31 101,927.70 79,646.93 83,176.07
2012-09-30 97,358.86 87,895.51 91,131.07
2012-06-30 89,597.67 54,706.32 112,303.70
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • United Bank has an acceptable proportion of non-loan assets held.
  • United Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at United Bank are broadly funded by customer deposits.
  • United Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • United Bank has a low allowance for bad loans.
  • United Bank has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess United Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. United Bank has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is United Bank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.91%
Current annual income from United Bank dividends. Estimated to be 9.71% next year.
If you bought $2,000 of United Bank shares you are expected to receive $158 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • United Bank's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • United Bank's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:UBLS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:UBLS Future Dividends Estimate Data
Date (Data in PKR) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 15.75 6.00
2020-12-31 13.72 13.00
2019-12-31 12.12 12.00
LSE:UBLS Past Annualized Dividends Data
Date (Data in PKR) Dividend per share (annual) Avg. Yield (%)
2019-02-21 11.000 8.008
2019-02-20 11.000 7.169
2018-02-21 13.000 8.098
2018-02-19 13.000 6.549
2017-02-17 13.000 6.277
2016-02-29 13.000 6.818
2016-02-17 13.000 8.603
2015-03-02 11.500 7.093
2015-02-25 11.500 6.832
2014-02-20 10.000 5.770
2014-02-19 10.000 7.452
2013-02-25 14.000 12.222
2012-07-20 8.000 9.766
2012-07-18 8.000 8.987
2012-04-30 4.000 4.979
2012-04-26 4.000 4.732
2012-02-21 7.500 10.023
2011-02-21 5.000 8.417
2010-11-01 2.000 3.140
2010-10-28 2.000 3.548
2010-07-30 2.000 3.688
2010-03-02 2.273 3.990
2009-10-26 0.000 0.000
2009-04-23 1.818 4.261

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of United Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess United Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can United Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. United Bank has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of United Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sima Kamil
TENURE AS CEO 1.8 years
CEO Bio

Ms. Sima Kamil has been the Chief Executive Officer and President of United Bank Limited since June 1, 2017 and served as its Deputy Chief Executive Officer. Ms. Kamil served as a Director of The First MicroFinanceBank Ltd. She served as the Head of Branch Banking at Habib Bank Limited until March 28, 2017. She also served as Head of Retail and Consumer Banking and Head of Corporate & Investment Banking at Habib Bank. Ms. Kamil served as the Head of Corporate and Investment Banking at First Habib Bank Modaraba. She served as Head of Corporate & Investment Banking, Group Executive of Corporate Banking Group and Senior Executive Vice President of First Habib Bank Modaraba. She has been Director of United National Bank Limited since August 4, 2017. She served as a Director of PICIC Asset Management Company Ltd. She served as a Director of First Habib Bank Modaraba until September 2011. She served as a Director of HBL Asset Management Limited. Ms. Kamil served as a Director of Jubilee General Insurance Company Limited from April 2, 2014 to July 16, 2014. She serves as a Chairman of the Board at UBL (Switzerland) AG.

CEO Compensation
  • Insufficient data for Sima to compare compensation growth.
  • Insufficient data for Sima to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Sima Kamil

TITLE
President
TENURE
1.8 yrs

Aameer Karachiwalla

TITLE
Chief Financial Officer
TENURE
3.3 yrs

Aslam Sadruddin

TITLE
Group Head of Operations

Muhammad Anwar

TITLE
Chief Information Officer

Arif Akmal Saifie

TITLE
Contact person for IR

Aqeel Nasir

TITLE
Chief Legal Counsel & Company Secretary

Sajid Hussain

TITLE
Group Executive of Compliance

Ali Habib

TITLE
Head of Corporate Affairs & Marketing

Sadia Saeed

TITLE
Group Executive of Human Resources

Naeem Ahmad

TITLE
Head of International
Board of Directors Tenure

Average tenure of the United Bank board of directors in years:

5.1
Average Tenure
  • The tenure for the United Bank board of directors is about average.
Board of Directors

Mohammed Pervez

TITLE
Chairman of the Board
TENURE
5.3 yrs

Sheikh Nahyan Al Nahyan

TITLE
Chairman

Sima Kamil

TITLE
President
TENURE
2.3 yrs

Mufti Muhammad Usmani

TITLE
Chairman of Shariah Board

Zameer Choudrey

TITLE
Non-Executive Director
TENURE
16.5 yrs

Arshad Mir

TITLE
Non-Executive Director
TENURE
9.5 yrs

Amar Khan

TITLE
Independent Director
TENURE
2.1 yrs

Tariq Rashid

TITLE
Independent Director
TENURE
1.9 yrs

Haider Choudrey

TITLE
Non-Executive Director
TENURE
5.2 yrs

Rizwan Pervez

TITLE
Non-Executive Director
TENURE
5.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess United Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. United Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

United Bank Limited provides commercial banking and related services in Pakistan, the Middle East, the United States, Europe, and Africa. The company’s Corporate Finance segment offers services related to mergers and acquisitions, and project finance, as well as the underwriting/arrangement of debt and equity instruments through syndications, initial public offerings, and private placements. Its Trading and Sales segment provides fixed income, equity, foreign exchange, credit, funding, own position securities, and lending and borrowing products; and derivatives for hedging and market making. The company’s Retail Banking segment offers retail and consumer lending and deposit products; banking services; cards; and branchless banking services. Its Commercial Banking segment provides project, working capital, and trade financing services; import and export, factoring, leasing, and lending services; deposit products; and guarantees. The company’s Asset Management segment is involved in the discretionary and non-discretionary fund management activities in the form of various funds, including pooled, segregated, retail, institutional, private equity, open and close ended, etc. It also provides wholesale banking and treasury services to financial institutions; investment advisory services; and Sariah compliant financial services, including distribution of Sariah compliant mutual funds. As of December 31, 2017, it operated 1,361 branches in Pakistan, including 93 Islamic Banking branches and 2 branches in export processing zone; and 18 branches internationally. The company was founded in 1959 and is headquartered in Karachi, Pakistan. United Bank Limited is a subsidiary of Bestway (Holdings) Limited.

Details
Name: United Bank Limited
UBLS
Exchange: LSE
Founded: 1959
PKR1,202,208,119
1,224,179,688
Website: http://www.ubldirect.com
Address: United Bank Limited
I.I. Chundrigar Road,
Karachi,
74000,
Pakistan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
KASE UBL Ordinary Shares Pakistan Stock Exchange Limited PK PKR 06. Sep 2005
LSE UBLS GDR EACH REP 4 SHS(REGS) London Stock Exchange GB USD 25. Jun 2007
Number of employees
Current staff
Staff numbers
11,956
United Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 21:15
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.