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United Bank quarterly profit surges 93pc

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KARACHI: United Bank Ltd (UBL) reported a 93 per cent year-on-year increase in its consolidated earnings for the third quarter of 2025, reaching Rs35.4 billion translating into earnings per share (EPS) of Rs14.1.

This marks a 24pc increase compared to the previous quarter.

For the first nine months of 2025, UBL posted a significant 104pc year-on-year growth in earnings, amounting to Rs100bn (EPS: Rs40). The bank’s operating cost fell by 9pc QoQ to Rs32bn in Q3, but rose by 36pc YoY due to its growth strategy, with investments focused on branch expansion and marketing initiatives aimed at boosting deposit growth. UBL’s total deposits reached Rs4.8tr by September 2025, reflecting a 69pc YoY increase.

Net Interest Income (NII) for the quarter stood at Rs92bn, a 1pc increase QoQ and 78pc YoY. However, non-interest income saw a decline, falling 13pc YoY and 12pc QoQ.

Mitchell’s sells stake

CCL Holding (Pvt) Ltd has acquired 40.63pc shareholding in Mitchell’s Fruit Farms Ltd (MFFL), marking a significant change in the company’s ownership structure.

According to a notice issued to the Pakistan Stock Exchange (PSX), the transaction was executed on Wednesday in terms of a Share Purchase Agreement (SPA) signed on May 14, which was later amended on July 18.

Under the SPA, Syeda Maimanat Mohsin and Syeda Matanat Ghaffar sold a total of 9,293,244 ordinary shares of MFFL to CCL Holding at a price of Rs180 per share, which amounts to Rs1.7bn.

The deal was completed after obtaining all necessary regulatory approvals and meeting the required conditions precedent.

Thatta Cement

Thatta Cement Company Ltd (TCCL) has successfully completed and closed an Islamic Sukuk of Rs5,500 million while it has made strategic investment in Pakistan Services Ltd (PSL) by acquiring 9,107,800 voting shares at the rate of Rs710 per share, representing 28pc of total issued voting shares.

TCCL chief executive Kamran Munir Ansari said this is aligned with the company’s diversification and long-term value creation strategy and demonstrates confidence in Pakistan’s hospitality sector and growth potential.

Published in Dawn, October 16th, 2025



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PM Shehbaz announces reopening of new gas connections to domestic consumers

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Prime Minister Shehbaz Sharif announced on Sunday the reopening of new gas connections after a ban of nearly four years, state broadcaster Radio Pakistan reported.

His announcement comes less than two months after the federal cabinet decided in September to lift the ban on domestic gas connections and supply regasified liquefied natural gas (RLNG).

Speaking about the cabinet’s decision in a post-meeting press conference, Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry, flanked by Petroleum Minister Ali Pervaiz Malik, had said PM Shehbaz decided to lift the ban on new gas connections imposed in 2021, addressing a longstanding public demand.

Addressing a ceremony related to the resumption of RLNG connections in Islamabad today, the premier reiterated that the government’s decision was in response to the “long-standing public demand”.

“In 2022, there was immense public pressure for [new] gas connections but the government was facing challenges,” Radio Pakistan quoted him as saying.
But, “with this landmark decision, the public will now be able to access affordable and quality fuel,” he added.

“Now, RLNG will be supplied throughout the country to a large number of applicants,” a report by state-run APP quoted him as saying.

According to the reports, a video message by Malik was also played during today’s ceremony, in which the petroleum minister said the government was committed to providing maximum facilities to the public.

He added that the Sui Northern Gas Company had brought down its line losses to 4.93 per cent while earning a profit of Rs29 billion in the previous fiscal year.



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Pakistan Engineering Development Board gets new chief

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ISLAMABAD: After a gap of nine months, the government has appointed Hamad Ali Mansoor as the new chief executive officer (CEO) of the Engineering Development Board (EDB).

Mr Mansoor’s appointment, in the MP-I scale, is for a three-year term. The position had been vacant since January, and the recruitment process was initiated through an advertisement issued on Nov 17, 2024.

According to the Ministry of Industries and Production, a total of 248 applications were received. Thirty-three eligible candidates were shortlisted and interviewed by the selection committee in February. The committee recommended a panel of three candidates in order of merit: Hamad Ali Mansoor, Akhtar Ahmad Bughio and Shakeel Zahid.

Established in 1995, the EDB functions under the Ministry of Industries and Production to promote, facilitate and regulate the engineering sector in Pakistan.

Mr Mansoor holds an undergraduate degree in mechanical engineering and an MBA from the Schulich School of Business, York University, Toronto. He has over three decades of experience in industrial policy, manufacturing and infrastructure development, with a focus on renewable energy and sustainable growth.

Published in Dawn, October 26th, 2025



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PPP reaffirms commitment to farmers

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ISLAMABAD: The PPP has reiterated its commitment to supporting the farming community and vowed to continue its struggle to end all injustices faced by the farmers.

“PPP remains committed to respecting, empowering, and reviving the ag­­ricultural sector for a pr­­o­s­­perous Pakistan,” said the party’s Central Informa­tion Secretary Shazia Ma­­rri. She quoted PPP Chair­man Bilawal Bhutto-Zar­d­ari as saying that no economy can be strong if its farmers are weak.

“Chairman Bilawal Bhutto-Zardari believes that strengthening the farmer means strengthening Pakistan itself,” Ms Marri said in a statement issued on Saturday.

Ms Marri said that Bilawal Bhutto-Zardari’s vision was clear — the true measure of progress lies in the prosperity of farmers. She recalled that during the PPP government, Pakistan had moved from wheat shortage to becoming a wheat-exporting country, owing to farmer-friendly policies.

She said that the PPP chairman had always stood by the farmers, advocating for timely procurement and fair prices.

Highlighting the impact of climate change, the PPP leader said that it posed a serious threat to every Pakistani farmer. She added that Bilawal Bhutto-Zardari emphasised the need for investment in sustainable and climate-resilient agriculture, envisioning a modern agricultural economy where small farmers could progress through technology and access to fair markets.

She said the PPP believed that insurance, credit access, and transparent governance were essential to protect farmers from the adverse effects of climate change.

Ms Marri appreciated the government’s decision to allow wheat procurement, terming it a longstanding demand of the PPP. She added that approving the support price for wheat was also a PPP demand; however, she noted that fixing the price at Rs4,000 instead of Rs3,500 per 40kg would have been more beneficial for farmers. She further said that reducing the income tax from 45 per cent to 15pc was an important relief measure for the farming community.

Published in Dawn, October 26th, 2025



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