Financial Statements - United Bank Limited

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NOTES TO AND FORMING PART OF THE UNCONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012 40. SEGMENT DETAILS WITH RESPECT TO BUSINESS ACTIVITIES For the year ended December 31, 2012 Corporate finance Trading and sales Retail banking Commercial banking Others Inter segment elimination ---------------------------------------------------- (Rupees in '000) ----------------------------------------------------- Total income 246,954 11,244,132 34,016,112 8,515,021 1,668,716 - Total expenses (371,504) (673,840) (20,138,123) (6,512,949) (965,592) - Profit before tax (124,550) 10,570,292 13,877,989 2,002,072 703,124 - Segment return on assets (ROA) -7.7% 1.9% 1.5% 0.4% - - Segment cost of funds 0.8% 7.7% 4.1% 7.7% - - For the year ended December 31, 2011 Corporate finance Trading and sales Retail banking Commercial banking Others Inter segment elimination ---------------------------------------------------- (Rupees in '000) ----------------------------------------------------- Total income 470,136 6,723,574 35,052,073 8,943,499 953,999 - Total expenses (266,567) (2,553,581) (20,221,694) (4,556,496) (322,152) - Profit before tax 203,569 4,169,993 14,830,379 4,387,003 631,847 - Segment return on assets (ROA) 2.8% 0.9% 1.7% 1.0% - - Segment cost of funds 0.3% 7.9% 4.1% 7.3% - - As at December 31, 2012 Corporate finance Trading and sales Retail banking Commercial banking Others Inter segment elimination ---------------------------------------------------- (Rupees in '000) ----------------------------------------------------- Segment assets (gross of NPLs provisions) 1,433,174 414,116,266 667,040,326 324,520,391 84,050,176 (553,297,871) Segment non performing loans (NPLs) 1,016,151 2,122,695 25,272,491 28,735,549 200,110 - Segment provision held against NPLs 441,892 1,520,078 20,660,063 20,781,624 60,153 - Segment liabilities 1,069,695 401,751,874 637,495,291 302,458,554 13,757,283 (553,297,871) As at December 31, 2011 Corporate finance Trading and sales Retail banking Commercial banking Others Inter segment elimination ---------------------------------------------------- (Rupees in '000) ----------------------------------------------------- Segment assets (gross of NPLs provisions) 1,890,059 363,569,373 641,206,230 289,494,457 81,161,845 (559,311,497) Segment non performing loans (NPLs) 616,212 2,158,898 25,341,535 22,987,026 13,153 - Segment provision held against NPLs 149,404 1,674,325 20,996,611 17,117,233 13,153 - Segment liabilities 1,606,252 361,147,814 611,180,253 269,396,829 14,887,182 (559,311,497) Segment assets and liabilities include inter segment balances. Transactions between reportable segments are based on an appropriate transfer pricing mechanism using agreed rates. 41. TRUST ACTIVITIES The Bank is not engaged in any significant trust activities. However, it acts as custodian for some of the Term Finance Certificates it arranges and distributes on behalf of its customers. 42. RELATED PARTY TRANSACTIONS The Bank has related party transactions with its associates, subsidiary companies, employee benefit plans and its Directors and executive officers (including their associates). The Bank enters into transactions with related parties in the normal course of business. Contributions to and accruals in respect of staff retirement benefits and other benefit plans are made in accordance with the actuarial valuations / terms of the contribution plan. Remuneration to the executives / officers is determined in accordance with the terms of their appointment. Details of transactions with related parties during the year, other than those which have been disclosed elsewhere in these unconsolidated financial statements, are as follows: 39
NOTES TO AND FORMING PART OF THE UNCONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012 42.1 RELATED PARTY TRANSACTIONS Directors Key management personnel 2012 2011 Subsidiaries Associates Other related parties Directors Key management personnel Subsidiaries Associates Other related parties ------------------------------------------------------------------------------- (Rupees in '000) ------------------------------------------------------------------------------- Balances with other banks In current accounts - - 1,400,068 - - - - 882,673 - - In deposit accounts - - 1,291,442 - 773,770 - - 1,708,188 - 500,006 - - 2,691,510 - 773,770 - - 2,590,861 - 500,006 Investments Opening balance - - 2,201,948 16,657,117 264,553 - - 2,201,948 7,382,192 317,176 Transfer in - - - 200,000 - - - - - - Investment made during the year - - 1,322,014 2,040,479 193,224 - - - 13,550,000 - Investment redeemed / disposed off during the year - - - (6,850,000) (54,736) - - - (4,275,075) (52,623) Closing balance - - 3,523,962 12,047,596 403,041 - - 2,201,948 16,657,117 264,553 Provision for diminution in value of investments - - - 48,158 - - - 58,259 Purchase of investment - - - - - - - 101,170 - - Advances Opening balance 871 122,016 - - - 969 141,762 - - - Addition during the year - 118,883 - - - - 33,717 - - - Repaid during the year (871) (116,736) - - - (98) (53,463) - - - Closing balance - 124,163 - - - 871 122,016 - - - Other Assets Interest mark-up accrued - 198 107 - 3,305 11 139 821 - 4,549 Receivable from staff retirement funds - - - - 5,377 - - - - 99,182 Prepaid insurance - - - - - - - - 805 - Advance for Pre-IPO investment - - - - 364,000 - - - 100,000 - Receivable against redemption of units of mutual funds - - - 1,004,226 - - - - - - Other receivable - - 17,319 - - - - 2,403 - - Borrowings Opening balance - - - - 449,740 - - - - 428,195 Borrowings during the year - - 1,282,323 4,548,669 86,365,214 - - 1,628,297 - 899,480 Settled during the year - - (1,282,323) (4,548,669) (86,508,739) - - (1,628,297) - (877,935) Closing balance - - - - 306,215 - - - - 449,740 Deposits and other accounts Opening balance 2,898,779 63,495 131,902 1,217,179 1,485,930 2,796,798 24,857 146,247 3,824,208 957,640 Received during the year 6,948,406 910,308 162,987,974 55,089,236 82,446,405 15,000,221 1,817,159 112,822,806 36,730,601 82,625,198 Withdrawn during the year (3,673,222) (890,995) (162,977,220) (55,487,083) (82,023,478) (14,898,240) (1,778,521) (112,837,151) (39,337,630) (82,096,908) Closing balance 6,173,963 82,808 142,656 819,332 1,908,857 2,898,779 63,495 131,902 1,217,179 1,485,930 Subordinated loans - 5 - 5,998 - - 5 - 5,998 - Other Liabilities Interest / mark-up payable on deposits 75,061 56 - - 9,328 35,518 222 158 64 2,844 Interest / mark-up payable on borrowings - - - - 837 - - - - 761 Interest / mark-up payable on subordinated loans - 0 - 167 - - 0 - 167 - Unrealised loss on derivative transactions - - - - - - - - - 1,623,223 Unearned income - - 170 - - - - 154 - - Others - - - - - - - 10,000 - - Contingencies and Commitments Letter of guarantee - - - 71,993 - 1,782,540 - - 75,668 - Forward foreign exchange contracts purchase - - 6,285,868 - 2,914,491 - - 696,955 - 1,451,040 Forward foreign exchange contracts sale - - 6,378,146 - 2,817,341 - - 696,955 - 1,448,555 Directors Key management personnel 2012 2011 Subsidiaries Associates Other related parties Directors Key management personnel Subsidiaries Associates Other related parties ------------------------------------------------------------------------------- (Rupees in '000) ------------------------------------------------------------------------------- Mark-up / return / interest earned 77 7,957 57,260 - 40,042 126 7,490 2,004 - 25,335 Commission / charges recovered 30 24 278 987 448 5 11 136 596 1,860 Dividend income - - 66,211 2,058,392 1,136 - - 31,703 457,847 942 Net (loss) / gain on sale of securities - - - (289,189) 8,006 - - - 36,085 - Realised gain on derivative transactions - - - - 1,123,975 - - - - 2,318,442 Other income - 685 38,500 4,682 - - 2,398 1,142 90 - Mark-up / return / interest paid 194,070 1,576 911 13,662 100,169 111,731 2,845 1,572 112,260 34,468 Remuneration paid - 475,741 - - - - 375,173 - - - Post employment benefits - 16,036 - - - - 14,203 - - - Non-executive directors' fee 34,133 - - - - 34,553 - - - - Net charge for defined contribution plans - - - - 163,849 - - - - 142,354 Net reversal for defined benefit plans - - - - (272,450) - - - - (305,143) Payment for employee motivation and retention scheme - - - - 250,000 - - - - 230,000 Donation - - - - 75 - - - - 20,000 Insurance premium paid - - - 257,745 - - - - 250,661 - Insurance claims settled - - - 151,292 - - - - 205,459 - 40
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United Bank Limited UNCONSOLIDATED
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U N I T E D B A N K L I M I T E D i
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U N I T E D B A N K L I M I T E D B
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U N I T E D B A N K L I M I T E D n
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U N I T E D B A N K L I M I T E D A
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Page 23 and 24: UNCONSOLIDATED STATEMENT OF FINANCI
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Page 27 and 28: UNCONSOLIDATED STATEMENT OF CHANGES
Page 29 and 30: NOTES TO AND FORMING PART OF THE UN
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Page 87 and 88: Annexure 'A' as referred to in note
Page 95 and 96: Sr. No. 1 Commercial Reprsentation
Page 97 and 98: Sr. No. Annexure 'B' as referred to
Page 111 and 112: Disposals of operating fixed assets
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Financial Statements - United Bank Limited

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