LAHORE - UBL has announced 2011 result, posting unconsolidated earnings of Rs 15.5b (EPS of Rs12.66), an increase of 39pc YoY. Surprisingly in 4Q, the bank reported earnings growth of only 7 percent, with profits of Rs4.5b (EPS Rs3.71). The bank announced a higher than final cash dividend of Rs6 per share, taking the cumulative dividend for the year to Rs7.5 per share.It did not announce any bonus issue.

Key highlights of results include: a 16 percent rise in net interest income in 2011 on rising yields and earning assets, a 26 percent increase in non interest income on higher fee and other income and a 9 percent decline in provisioning expenses mainly led by lower provisions in 4Q.