Financial Statements - United Bank Limited

NOTES TO AND FORMING PART OF THE UNCONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2012
9.7
This represents the Bank's investment in Khushhali Bank Limited (KBL) which is incorporated under the Microfinance Institutions
Ordinance, 2001.
As mentioned in note 9.7 to the unconsolidated financial statements for the year ended December 31, 2011, a consortium led by the Bank
and including four international private equity funds had submitted a bid on February 16, 2012 for acquiring majority control of KBL. The
consortium's bid was selected as the highest bid by the selling shareholders of KBL and, after completion of regulatory consents and
approval from the SBP and the Competition Commission of Pakistan, a Share Purchase Agreement was successfully executed between
the Bank's consortium and the selling shareholders of KBL on June 4, 2012.
Post acquisition, the Bank's direct shareholding in KBL is 29.69%. The investment in KBL is classified as an associate due to the Bank's
significant influence on KBL by virtue of its shareholding.
9.8
9.9
9.10
During the year, the Bank's subsidiary United National Bank Limited adopted the trade name United Bank UK, however, the legal name
remains unchanged.
This represents the Bank's investment in UBL Bank (Tanzania) Limited, which was incorporated on March 13, 2012 and is in the process
of completing formalities for receiving a certificate for commencement of business. The Bank owns 99.99% of the paid up capital of UBL
Bank (Tanzania) Limited.
Information relating to investments required to be disclosed as part of the financial statements under the SBP's BSD Circular No. 4 dated
February 17, 2006, is given in Annexure 'A' to these unconsolidated financial statements. Details in respect of the quality of available for
sale securities are also disclosed in Annexure 'A'.
10. ADVANCES Note
Loans, cash credits,
running finances, etc.
Performing
Non-performing
Total
2012 2011 2012 2011 2012 2011
---------------------------------------------- (Rupees in '000) --------------------------------------------------------
In Pakistan 10.2 230,815,515 217,075,307 42,504,178 41,798,946 273,319,693 258,874,253
Outside Pakistan 92,765,638 71,963,532 7,102,448 6,226,151 99,868,086 78,189,683
323,581,153 289,038,839 49,606,626 48,025,097 373,187,779 337,063,936
Bills discounted and purchased
Payable in Pakistan 19,991,220 15,840,765 5,404,969 2,711,544 25,396,189 18,552,309
Payable outside Pakistan 8,171,075 10,310,200 2,335,401 380,183 10,506,476 10,690,383
28,162,295 26,150,965 7,740,370 3,091,727 35,902,665 29,242,692
Advances - gross 351,743,448 315,189,804 57,346,996 51,116,824 409,090,444 366,306,628
Provision against advances 10.4
- Specific - - (43,463,810) (39,950,726) (43,463,810) (39,950,726)
- General (1,242,626) (1,002,011) (20,206) (6,683) (1,262,832) (1,008,694)
(1,242,626) (1,002,011) (43,484,016) (39,957,409) (44,726,642) (40,959,420)
Advances - net of provision 350,500,822 314,187,793 13,862,980 11,159,415 364,363,802 325,347,208
10.1 Particulars of advances - gross
Performing
Non-performing
Total
2012 2011 2012 2011 2012 2011
---------------------------------------------- (Rupees in '000) --------------------------------------------------------
10.1.1 In local currency 249,048,415 227,995,007 47,607,666 44,165,843 296,656,081 272,160,850
In foreign currencies 102,695,033 87,194,797 9,739,330 6,950,981 112,434,363 94,145,778
351,743,448 315,189,804 57,346,996 51,116,824 409,090,444 366,306,628
10.1.2 Short term 218,613,468 216,561,336 - - 218,613,468 216,561,336
Long term 133,129,980 98,628,468 57,346,996 51,116,824 190,476,976 149,745,292
351,743,448 315,189,804 57,346,996 51,116,824 409,090,444 366,306,628
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