United Bank LimitedUnited Bank LimitedPerformance ReviewPerformance Review

June 2012June 2012

July 18, 2012Paris

1

Key HighlightsKey Highlightsy g gy g g• Standalone PAT up 39% YoY to Rs 9.3 bn. Consolidated PAT up 47% YoY to Rs 9.4 bn

• Net interest income down 1% to Rs 19.2 bn YoY

o NII reduced YoY due to the lower rate environment, higher investment in Mutualfunds and increase in minimum PLS saving deposits rate from 5% to 6%.

o Yield on earning assets reduced YoY by 66 bps to 11.6%

o Cost of funds remained flat YoY at 5.0%

• Non markup income up YoY by 30% to Rs 7.7 bn

o Core banking fees increased by 21% to Rs 4.0 bn mainly due to higher corporateservice charges, increased income from domestic and home remittances andhigher general banking fees.

o Capital gains more than doubled YoY to Rs 455 mn, primarily due to gains onequity securities

o Dividend income grew YoY by Rs 1.1 bn mainly due to increased investments in

2

o Dividend income grew YoY by Rs 1.1 bn mainly due to increased investments inmutual funds

Key HighlightsKey Highlightsy g gy g g• Provisions down YoY by 70% to Rs 1.5 bn

o NCL ratio improved to 0.8% in HY’12 compared to 2.9% in HY’11

• Administrative expenses up by 16% YoY

o Mainly due to full impact of additional branches opened in H2’11, core banking software implementation, OMNI expansion and rupee devaluation g p , p pimpact on International expenses.

o Excluding the impact of the above expenses, admin. expenses increased YoYby 9 0%by 9.0%

• Net advances increased by 10% over Dec’11 to Rs 358 bn in Jun’12

• Total deposits increased by 12% over Dec’11 to Rs 685 bnTotal deposits increased by 12% over Dec 11 to Rs 685 bn

o Domestic CASA ratio improved over Dec’11 and Mar’12 to 80.1% at Jun’12

• Total CAR improved from 13.2% in Mar’12 to 14.0% in Jun’12 whilst Tier I CAR

3

also improved from 9.5% to 10.1% over the same period.

• ROE improved from 23.7% in FY’11 to 26.1% in HY’12

IncomeIncome Statement Statement -- StandaloneStandalonePKR Bn HY'12 HY'11 Var % Q2'12 Q1'12 Var %

Interest Earned 36.26 34.08 6% 18.56 17.70 5%Interest Expensed (17.05) (14.75) -16% (8.95) (8.10) -11%

Net Interest Income 19.21 19.33 -1% 9.61 9.60 0%Non Interest Income 7.68 5.90 30% 3.59 4.09 -12%

Total Revenue 26.89 25.23 7% 13.20 13.69 -4%Admin. Expenses (11.29) (9.74) -16% (5.76) (5.53) -4%

Operating Expenses (11.61) (10.07) -15% (5.91) (5.70) -4%Pre Prov. Operating Profit 15.28 15.16 1% 7.28 7.99 -9%

Provision Exp./Other writeoffs (1.47) (4.93) 70% (0.71) (0.76) 8%p ( ) ( ) ( ) ( )Profit Before Tax 13.81 10.23 35% 6.58 7.23 -9%Profit After Tax 9.32 6.70 39% 4.45 4.87 -8%

4

IncomeIncome Statement Statement -- ConsolidatedConsolidated

PKR Bn HY'12 HY'11 Var % Q2'12 Q1'12 Var %

Interest Earned 36.96 34.51 7% 18.94 18.01 5%Interest Expensed (17.29) (14.85) -16% (9.08) (8.21) -11%

Net Interest Income 19.66 19.66 0% 9.86 9.80 1%N I t t I 8 32 6 06 37% 3 95 4 37 10%Non Interest Income 8.32 6.06 37% 3.95 4.37 -10%

Total Revenue 27.98 25.71 9% 13.81 14.18 -3%Admin. Expenses (12.24) (10.51) -16% (6.25) (5.99) -4%

Operating Expenses (12.57) (10.84) -16% (6.41) (6.17) -4%Pre Prov. Operating Profit 15.41 14.87 4% 7.40 8.01 -8%

Provision Exp /Other writeoffs (1 47) (4 93) 70% (0 71) (0 76) 8%Provision Exp./Other writeoffs (1.47) (4.93) 70% (0.71) (0.76) 8%Profit Before Tax 13.94 9.94 40% 6.70 7.24 -8%Profit After Tax 9.41 6.41 47% 4.54 4.86 -7%

5

Share InfoShare Info

62

70

85

100

hare

Rs. B

n

Book value per share - Standalone

13

15

81

95 Thousands

Trends ‐ KSE 100 Index & UBL's Share Price

Cons. Equity Jun’12 – Rs 90 BnCons. BV ‐ Rs 73.2 per share

38

46

54

40

55

70

Book

val

ue p

er s

h

Book

Val

ue ‐

R

6

8

11

39

53

67

Max 2012 : 89.94Min 2012 : 52.65Latest MP : 87.90

2006 2007 2008 2009 2010 2011 Jun'12

Total Equity ‐ St. 30 42 44 61 68 79 82

BV Per share ‐ St. 46 52 43 55 56 65 67

30 254 25

Jan‐

09Fe

b‐09

Mar‐0

9A

pr‐0

9M

ay‐0

9Ju

n‐09

Jul‐

09A

ug‐0

9Se

p‐09

Nov‐0

9D

ec‐0

9Ja

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Feb‐

10M

ar‐1

0A

pr‐1

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ay‐1

0Ju

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Jul‐

10A

ug‐1

0O

ct‐1

0N

ov‐1

0D

ec‐1

0Ja

n‐11

Feb‐

11M

ar‐1

1A

pr‐1

1M

ay‐1

1Ju

n‐11

Aug

‐11

Sep‐

11O

ct‐1

1N

ov‐1

1D

ec‐1

1Ja

n‐12

Feb‐

12M

ar‐1

2M

ay‐1

2Ju

n‐12

Jul‐

12

UBL's share price KSE 100 Index

50%

60%

70%

80%

alye

of

shar

es

Dividend Payout

30% 30% 25% 25%

50%

75%

30%

25% 25%

10% 10%

0%

10%

20%

30%

40%

yout

as

a %

of

par

va

6

0%

2006 2007 2008 2009 2010 2011 HY'12Pay

Cash Stock

Key RatiosKey Ratios -- BankBankyyBalance Sheet Ratios Dec-11 Jun'12 Mar'12

Advances / Depos i ts 57% 56% 61%

Asset Qual i ty 14.0% 13.7% 15.4%

Coverage 80% 77% 70%

Financial Ratios HY'12 HY'11 Q2'12 Q1'12

Yield on P. Advances 12.1% 13.0% 12.2% 12.1%

Cost of Depos i ts 4.4% 4.3% 4.5% 4.3%

N t I t t M i 6 6% 7 3% 6 6% 6 7%Net Interest Margin 6.6% 7.3% 6.6% 6.7%

NCL Ratio 0.8% 2.9% 0.6% 0.9%

Return on Avg Assets 2.30% 1.87% 2.14% 2.45%

Return on Shareholders ' Equi ty 26.1% 22.1% 25.3% 28.1%

P/L Ratios HY'12 HY'11 Q2'12 Q1'12

Cost to Income Ratio 42.0% 38.6% 43.6% 40.4%

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Cost to Income Ratio 42.0% 38.6% 43.6% 40.4%

Non Fund Inc. / Tota l Revenue 29% 23% 27% 30%

Deposits Structure Deposits Structure (Bank level)pp ( )Cost of DepositsCost of Deposits Deposits Deposits ‐‐ BankBank

6.0%Cost of Deposits Dec'11 Jun'12

BankPE -

Rs.Bn COF%PE -

Rs.Bn COF%

2.0%

3.0%

4.0%

5.0%

Domestic deposits 495 4.8% 547 4.7%

International deposits 118 2.3% 138 3.1%

Total Bank 613 4.3% 685 4.4%

1.0%

2.0%

Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Domestic International Bank

International $ 1,313 2.3% 1,460 3.1%

Domestic CASA 79.5% 80.1%

• Deposits grew 12%, from 613Bn in Dec’11 toRs.685Bn in Jun’12

• The Bank has been able to reduce its domesticcost of deposits by 10 bps to 4.7% in HY’12.269 ‐ 39%

Rs. BillionTotal Deposits

613685

p y p

• Average deposits increased by 15% YoY, whilstthey grew by 4% as compared to the previousquarter.

D i k h f d i d384 ‐ 63% 416 ‐ 61%

229 ‐ 37%

8

• Domestic market share of deposits stands at8.6% as on 30th June 2012.

Dec'11 Jun'12

Low Cost Deposits Expensive Deposits

Net AdvancesNet AdvancesNet Advances - Rs. Bn Dec'11 Jun'12

% Change

Corporate Bank 155.2 177.4 +14%

Commercial * 69 0 73 5 +7%Commercial * 69.0 73.5 +7%

Consumer 11.3 10.1 -10%

Others 6.0 8.0 34%

Total Domestic 241 4 269 1 11%Total Domestic 241.4 269.1 11%

International 83.9 88.6 +6%

Bank 325.3 357.7 10%

I t ti l US$ M 933 0 936 9 0%International US$ Mn 933.0 936.9 +0%* of which commodity advances of Rs. 54Bn (Dec'11: 46Bn)

149 155

177 185 Dec'10 Dec'11 Jun'12

81 82 69

84 74

89

74

111

148

Rs B

n

9

16 7 11 6 10 8

‐

37

Corporate Bank Commercial Bank Consumer Bank International Others

International AdvancesInternational AdvancesBy Geography

Qatar, 11%Yemen, 12%

By Business - UAE

Bahrain, 11%

Qatar, 11%

NewYork, 0%

EPZ, 0%Corporate, 70%

UAE, 66%Consumer, 19%

Others, 11%

Abu Sharjah, Personal loan, 12%

Others, 2%

Dubai

Dhabi, 29%

10%

Baitna, 86%

10

Dubai, 61%

Spread Analysis Spread Analysis –– Bank LevelBank Levelp yp yBank HY 2012 HY 2011

Rs Bn PE AVG IEAvg.Yield

/Cost PE AVG IEAvg.Yield

/Cost

Avg KIBOR - 3M 11.9% 13.5%Interest Earning AssetsInterest Earning Assets

Performing Advances 328 308 18.6 12.1% 308 299 19.3 13.0%Corporate 159 152 10.0 13.3% 135 135 9.3 14.0%Commercial 17 18 1.4 15.2% 23 21 1.7 15.9%Commodity 54 47 3.4 14.6% 59 50 4.0 16.3%Consumer 9 10 0.9 18.7% 12 13 1.3 19.8%International 86 80 2.8 7.0% 80 80 3.0 7.5%Others 2 1 0.1 17.3% 1 1 0.1 14.0%

Investments (earning) 282 281 16.7 11.9% 230 198 11.8 12.0%Corporate Bonds (TFC) 4 4 0.3 14.4% 29 28 2.2 15.6%Lending to Financial Institutio 19 14 0.3 4.6% 14 14 0.4 6.5%Others 17 20 0.4 3.7% 19 20 0.3 2.6%Others 17 20 0.4 3.7% 19 20 0.3 2.6%Total int. earning assets (a) 650 626 36.2 11.6% 600 559 34.0 12.3%

Non int. earning assets 203 166 0.1 0.1% 146 127 0.1 0.1%Total Assets (A) 853 792 36.3 9.2% 746 686 34.1 10.0%Interest bearing liabilities

Total deposits 685 623 (13.6) 4.4% 594 543 (11.5) 4.3%Lo Cost Deposits 416 368 (3 2) 1 7% 375 326 (2 7) 1 7%Low Cost Deposits 416 368 (3.2) 1.7% 375 326 (2.7) 1.7%Expensive Deposits 269 255 (10.4) 8.2% 219 217 (8.8) 8.2%

Subordinated Debts - TFC 10 11 (0.6) 12.3% 12 12 (0.8) 12.7%Swap cost (net) - - (0.4) 0.0% - - (0.4) 0.0%Borrowings 45 52 (2.5) 9.6% 46 40 (2.1) 10.5%Total interest bearing liab (b) 741 686 (17.1) 5.0% 652 595 (14.7) 5.0%

11

Non int. bearing liab ilities & equ 112 107 - 0.0% 94 91 - 0.0%Total Liabilities+Equity (B) 853 792 (17.1) 4.3% 746 686 (14.7) 4.3%Net Interest Margin (a-b) - - 19.2 6.6% - - 19.3 7.3%Spread (A-B) 4.9% 5.7%

ConcentrationConcentration of Advancesof Advances –– StandaloneStandalone--Jun’12Jun’12

Airlines, 1%Trading, 4%

Agribusiness, 13% Automobile & Trans. Equip., 1%

Cement, 1%

h i l d

Telecom, 2%Textile, 14%

Chemical and pharmaceuticals, 2%

Contractor / Constructor, 5% Fertilizer dealers, 1%Sugar, 3%

Financials, 3%

Food, 4%

Prod. & Transmission Energy, 17%

Individuals, 13%Others, 16%

12

Non MarkupNon Markup / Return / Interest Income/ Return / Interest IncomeNon Fund Income - Rs. Mn HY'12 HY'11 Var % Q2'12 Q1'12 Var %Fee, commission and brokerage income 3,965 3,280 21% 2,098 1,866 12%

Dividend income 1 443 322 348% 633 810 -22%Dividend income 1,443 322 348% 633 810 -22%

Income from dealing in foreign currencies 1,044 1,076 -3% 476 568 -16%

Gain / (loss) on sale of securities 455 145 214% 40 415 -90%D i ti I 210 656 68% 56 154 64%Derivatives Income 210 656 -68% 56 154 -64%Other income 563 421 34% 283 280 1%

Total Non Fund Income 7,680 5,899 30% 3,586 4,094 -12%

13

Fee CommissionFee Commission and Brokerage Incomeand Brokerage IncomeFee Commission Income - Rs. Mn HY'12 HY'11 Var % Q2'12 Q1'12 Var %

Commission on trade 816 771 6% 386 430 -10%Commission on consumer loan 408 449 -9% 192 217 -11%Commission on consumer loan 408 449 -9% 192 217 -11%Commission on remittance / uniremote 524 413 27% 278 246 13%Corporate service chgs/finance fee/FI inc. 667 424 57% 380 287 32%Commission on ATM / utility / cheque books 490 340 44% 256 234 10%y qMinimum balance charges 122 189 -36% 69 53 32%Commission on home remittance 342 197 74% 186 155 20%Commission income - Bancassurance 151 105 43% 95 56 69%Commission others 445 392 13% 255 190 35%Total 3,965 3,280 21% 2,098 1,866 12%

14

AdministrativeAdministrative ExpensesExpensesppAdministrative Expenses - Rs. Mn HY'12 HY'11 Var % Q2'12 Q1'12 Var %

Personnel Cost 4,847 4,157 -17% 2,419 2,429 0%Premises Cost 1,632 1,536 -6% 868 764 -14%O t d i hOutsourced service charges including sales commission

978 707 -38% 509 468 -9%

Advertisement and publicity 270 305 11% 136 134 -2%Communications 470 385 -22% 249 220 -13%Depreciation 737 610 -21% 392 346 -13%Legal and professional charges 144 107 -35% 72 71 -1%Banking service charges 393 377 -4% 196 197 1%Stationery and printing 240 203 -18% 138 102 -34%y p gTravelling 136 129 -5% 74 62 -18%Cash transportation charges 183 156 -18% 100 83 -20%Repairs and maintenance 92 108 15% 52 41 -28%Maintenance contracts 411 301 37% 184 227 19%Maintenance contracts 411 301 -37% 184 227 19%Vehicle expenses 88 72 -23% 43 45 3%Office running expenses 198 183 -8% 101 97 -5%Donations 4 25 83% 4 1 -389%

15

Insurance expense 72 74 3% 16 55 71%Others 390 309 -26% 207 183 -13%Total 11,286 9,742 -16% 5,760 5,526 -4%

Financial ratiosFinancial ratios –– Consolidated (1/3)Consolidated (1/3)( )( )YTD QTD (A nnua lize d)

2009 2010 2011 Jun'12* Dec-11 Mar-12 Jun-12

S d (St) 1 5 5% 5 5% 5 6% 4 9% 5 3% 5 0% 4 8%

DuPont

Spread (St) 1 5.5% 5.5% 5.6% 4.9% 5.3% 5.0% 4.8%Net Interest Margin (St) 2 6.9% 7.0% 7.2% 6.6% 6.9% 6.7% 6.6%Non Interest Yield 3 2.1% 1.6% 1.7% 2.0% 1.9% 2.1% 1.8%Ad i E /A A t 2 8% 2 8% 2 8% 2 9% 2 7% 2 9% 2 9%Admin Exp./Avg Assets 2.8% 2.8% 2.8% 2.9% 2.7% 2.9% 2.9%Cost Income Ratio 38.5% 41.7% 40.1% 43.7% 39.1% 42.3% 45.3%Loan Loss / Assets 1.9% 1.1% 0.9% 0.3% 0.3% 0.4% 0.2%Loan Loss / RWA 4 2 4% 1 5% 1 2% 0 4% 0 4% 0 5% 0 4%Loan Loss / RWA 2.4% 1.5% 1.2% 0.4% 0.4% 0.5% 0.4%Effective Tax Rate 34.2% 37.7% 37.0% 32.5% 40.7% 32.9% 32.1%ROA 1.5% 1.6% 1.9% 2.2% 2.2% 2.3% 2.1%ROE 18 0% 17 7% 20 9% 24 2% 23 3% 25 8% 23 7%

Formulas1 Net interest income / average assets 4 Risk weighted assets

ROE 18.0% 17.7% 20.9% 24.2% 23.3% 25.8% 23.7%* Annualized

16

1. Net interest income / average assets 4. Risk weighted assets

2. Net interest income / average earning assets

3. Non interest income / average assets

Financial ratiosFinancial ratios –– Consolidated (2/3)Consolidated (2/3)( )( )YTD QTD (A nnua lize d)

2009 2010 2011 Jun'12* Dec-11 Mar-12 Jun-12

Gross NPLs / Gross Loan 10 3% 12 9% 13 4% 13 2% 13 4% 14 9% 13 2%

Asset Quality

Gross NPLs / Gross Loan 10.3% 12.9% 13.4% 13.2% 13.4% 14.9% 13.2%Net NPLs / Gross Loan 3.0% 3.6% 2.7% 3.1% 2.7% 4.5% 3.1%Coverage Ratio 70.9% 71.9% 80.1% 76.8% 80.1% 69.8% 76.8%Prov. held / Gross loan 7.3% 8.9% 10.5% 9.8% 10.5% 10.1% 9.8%Net Credit Loss ratio 3.2% 2.2% 2.0% 0.7% 0.7% 0.9% 0.6%

YTD QTDGrowth2009 2010 2011 Jun'12* Dec-11 Mar-12 Jun-12

Growth in Loan Book -4.3% -5.7% -0.1% 9.8% 0.9% 5.6% 4.0%Growth in Deposits 2.3% 12.7% 11.8% 13.0% 10.1% 0.2% 12.7%

Growth

Operating Revenue 16.6% -1.4% 16.3% 8.8% -0.1% 3.9% -2.6%Operating Expense 5.5% 7.6% 11.2% 16.0% -3.5% 14.1% 3.9%Pre-provision Oper.Profit 23.8% -7.2% 20.3% 3.6% 2.3% -2.8% -7.6%P i i + Oth 64 5% 39 2% 8 5% 70 2% 36 4% 24 0% 7 7%

17

Provision exp.+ Other prov. 64.5% -39.2% -8.5% -70.2% -36.4% -24.0% -7.7%Profit After Tax 12.3% 16.1% 35.1% 46.8% 2.4% 13.4% -6.6%* Annualized

Financial ratiosFinancial ratios –– Consolidated (3/3)Consolidated (3/3)( )( )Yearly QTD (A nnua lize d)

2009 2010 2011 Jun'12* Dec-11 Mar-12 Jun-12

Capital Adequacy Ratio 14 0% 15 0% 14 9% 14 5% 14 9% 13 7% 14 5%

Other Metrics

Capital Adequacy Ratio 14.0% 15.0% 14.9% 14.5% 14.9% 13.7% 14.5%Tier-I CAR 9.5% 10.4% 10.6% 10.1% 10.6% 9.6% 10.1%Loan / Deposits 73.7% 62.8% 57.5% 56.1% 57.5% 60.7% 56.1%Net Loans / Assets 53.7% 47.1% 42.3% 42.0% 42.3% 42.4% 42.0%RWA / Assets 75.9% 72.7% 72.9% 69.4% 72.9% 73.6% 69.4%Average Headcount (St) 2 8,639 8,474 8,655 8,596 8,652 8,785 8,788 Personnel cost (St) /

d ( )988.9863.9 879.3 1,126.2 1,099.11,104.41,038.8

Headcount (000)

Yield on Earning Assets (St) 3 12.3% 11.7% 12.3% 11.6% 12.1% 11.6% 11.7%Cost of Funds (St)4 5.4% 4.7% 5.1% 5.0% 5.1% 4.9% 5.1%Yield on Performing Adv (St) 13 4% 12 4% 12 9% 12 1% 12 8% 12 1% 12 2%

, ,,,

Yield on Performing Adv (St) 13.4% 12.4% 12.9% 12.1% 12.8% 12.1% 12.2%Cost of Deposits (St) 4.8% 4.0% 4.3% 4.4% 4.2% 4.3% 4.5%* Annualized

Formulas

18

2. Permanent Staff3. Earning assets incl bal.with other banks, lending to F.I., investments & perf adv4. Funds includes deposits, borrowings & sub-ordinated loans

QuarterlyQuarterly Trend AnalysisTrend Analysisyy yyBank Level

19

Profit beforeProfit before TaxTax

7 5 7 28.5

6.5

7.5 7.26.6

6 1

7.3

4.3 4.3 4.44.8 5.0 5.2

4.9

6.1

Rs

Bn

2 5

3.7

2.5 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

20

Profit after Profit after TaxTax

4.95.5

3 4

4.24.5 4.5

3 9

4.7

2.82.4

2.93.1 3.3 3.4

3.1

3.9

Rs

Bn

1 5

2.3

1.5 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

21

DepositsDepositspp

685725

594613 614

625

675

500 491

551529

557

525

575

Rs

Bn

451

491

475

425

Mar'10 Jun'10 Sep'10 Dec'10 Mar'11 Jun'11 Sep'11 Dec'11 Mar'12 Jun'12

22

Net AdvancesNet Advances

358365

343

335

345

343

354

331335 334 334 334

326332 Rs

Bn

325

310

321

310

Mar'10 Jun'10 Sep'10 Dec'10 Mar'11 Jun'11 Sep'11 Dec'11 Mar'12 Jun'12

23

Net Interest IncomeNet Interest Income

11.0

10.2 10.3

9.8 9 6 9 6

10.4

8 6

9.1 9.2

9.6 9.6

9.2

9.8

Rs

Bn

8.2 8.4 8.6

8 0

8.6

R

8.0 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

24

Total Total ProvisionProvision

2 3 2.63.0

2.11.9

2.11.9

2.3

1.61.8

2.4

1.00.8 0.7

1.2

1.8

Rs

Bn

-

0.6

Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

25

Non Fund IncomeNon Fund Income

4 15.0

2 83.0 2 9 3.0

3.84.1

3.6

3 4

4.2

2.4 2.4 2.62.8 2.9

2.6

3.4

Rs

Bn

1.0

1.8

Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

26

GrossGross RevenueRevenue

13 6 13.714.5

11 912.2

13.013.4 13.6 13.7

13.2

12 5

13.5

10.6 10.711.2

11.9

11.5

12.5

Rs

Bn

9.5

10.5

Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

27

AdministrativeAdministrative ExpensesExpensespp

6 2

5 05.5

5.85.7

6.2

4.4 4.5

4.94.7

5.05.0 5.0

4.8

5.2

Rs

Bn

4.1

3.8

4.3

3.8 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

28

The information contained herein reflects our latest business statement as ate o a o co a ed e e e ec s ou a es bus ess s a e e as aJune 30, 2012.

Except the historical information contained herein, statements in this Releasewhich contain words or phrases such as ‘will’, ‘would’, ‘indicating’ expected to’etc., and similar expressions or variations of such expressions may constitute‘forward-looking statements’. These forward-looking statements involve a

b f i k i i d h f h ld l lnumber of risks, uncertainties and other factors that could cause actual results todiffer materially from those suggested by the forward-looking statements. Theserisks and uncertainties include, but are not limited to our ability to successfullyimplement our strategy future levels of non performing loans our growth andimplement our strategy, future levels of non-performing loans, our growth andexpansion in business, the impact of any acquisitions, the adequacy of ourallowance for credit losses, technological, implementation and changes, theactual growth in demand for banking products and services investment incomeactual growth in demand for banking products and services, investment income,cash flow projections, our exposure to market risks as well as other risksdetailed in the reports filed by us with various regulatory authorities as perapplicable laws and regulations. UBL undertakes no obligations to update

29

pp g g pforward-looking statements to reflect event or circumstances after the datethereof.

Thank YouThank You

30