UBL partners with Saylani Trust for nation-wide ration distribution project

KARACHI - UBL recently joined hands with Saylani Welfare International Trust, a reputable charitable organization, to distribute Ration Bags to needy families across Pakistan.

The Bank donated PKR 25 million to the Trust for the distribution of ration bags in 15 cities across Pakistan to families most affected by the lockdown situation under the Covid-19 pandemic.

Ms. Sima Kamil, President & CEO UBL said “Ramzan is a month of giving. We are humbled to be able to leverage our resources beyond providing uninterrupted financial services and reaching out to those most-affected during these testing times. We hope this contribution makes a positive difference in their lives.”

On April 23, the bank showed a profit after tax increased to Rs4.87 billion in the quarter ending March 2020, as compared to the Rs4.0 billion in the corresponding period last year, showing a growth of 21pc year-on-year.

However, when compared to the fourth quarter of 2019, profit after tax stayed practically stagnant, also at Rs4.87 billion.

The bank also announced an interim cash dividend of Rs 2.50 per share. However, Taurus Securities noted that this announcement followed yesterday’s SBP circular calling for banks to suspend dividend payouts for March and June quarters.