UBL declares 10% dividend

KARACHI: United Bank Limited (UBL) has posted a record consolidated profit before tax of Rs 5.125 billion for six months ending June 30, 2010 and declared 10 percent cash dividend.

According to financial results sent to KSE here on Friday, the pre-tax profit of the bank also surged to Rs 8.509 billion in six months of 2010 against Rs 4.597 billion during same period of 2009.

The earning per share also improved to Rs 4.22 during the period under review compared to Rs 3.75 in 2009.

Royal Bank Of Scotland Posts $3 Billion 3Q Loss

Royal Bank Of Scotland Posts $3 Billion 3Q Loss: Government-controlled Royal Bank of Scotland Group PLC on Friday reported a net loss of 1.8 billion pounds ($3 billion) but that underlying profits had improved and lending to companies increased 5 percent. Full recovery from its near collapse a year ago will take years, its chief executive Stephen Hester said. For the three months ending Sept.

Royal Bank Of Scotland Posts $3 Billion 3Q Loss:Government-controlled Royal Bank of Scotland Group PLC on Friday reported a net loss of 1.8 billion pounds ($3 billion) but that underlying profits had improved and lending to companies increased 5 percent.

Full recovery from its near collapse a year ago will take years, its chief executive Stephen Hester said.

For the three months ending Sept. 30, RBS reported total income of 7.1 billion pounds, compared to 8.6 billion pounds a year earlier.

However, the bank booked impairment losses of 3.3 billion pounds, up from 1.3 billion a year earlier. Impairments for the first three quarters of this year rose to 10.8 billion pounds.

Without the impairments, operating profit rose 55 percent to 1.75 billion pounds.

Hester said the results affirmed his confidence that RBS can recover as a strong company.

“The results also show the headwinds we face and the legacy we are purposefully working out of,” he said. “As I have repeatedly said, the journey will take some years.