UBL delivered yet another solid performance generating a Profit Before Tax (PBT) of Rs. 68.3 billion for the year ended December 31, 2022, with a year on year growth of 31%. Profit after tax (PAT) was reported at Rs. 32.1 billion with Earnings per Share (EPS) at Rs. 26.19 (2021: Rs. 25.23). The Bank declared dividends of Rs. 9.0 per share for the fourth quarter of 2022, taking the overall dividend distribution to Rs. 22.0 per share for the full year which is significantly higher than the Rs. 18.0 per share declared in 2021. Despite economic challenges this year, UBL remained resilient in sustaining its leading position in the Pakistan banking industry. UBL remains one of the largest financial institutions of Pakistan with a footprint of 1,335 branches in Pakistan and an asset base of over Rs. 2.8 trillion. Serving 11 million customers, with deposits of over Rs. 1.84 trillion and gross advances of Rs. 1.01 trillion as at December 31, 2022, UBL is at the forefront of banking and financial services in Pakistan. We are proud of our highly dedicated and professional team of around 13,500 staff members and remain steadfast in our commitment of reaching remote areas of the country and providing access to banking facilities, thus serving the goal of financial inclusion for every citizen of Pakistan. The Bank continues to build on its award-winning digital banking infrastructure which has repeatedly been recognized as one of the best in Pakistan in providing the most innovative banking solutions. Substantial revenue growth across both funded and fee based segments The Bank earned net markup income of Rs. 103.2 billion in 2022, with a strong build up in the revenue base which is up 44% year on year. With consistent build up in the balance sheet during the year, markup earning assets averaged Rs. 2.2 trillion in 2022, growing by 13%. A timely repositioning within the asset book strengthened interest earnings driven by a well-diversified portfolio of fixed and floating rate investments. This resulted in a sharp increase in net interest margins (NIMs) from 3.8% in 2021 to 4.9% in 2022. Non-Fund Income (NFI) recorded significant growth of 47% over last year, reported at Rs. 34.4 billion, and contributed 25% of the overall gross revenues of the Bank. The year witnessed an increase in Fee and Commission Income by 21%. Customer fees from branch banking operations stood at Rs. 2.3 billion, with an increase of 33%, driven mainly by business acquisitions across the retail network. Income from cards of Rs. 3.1 billion was earned in 2022, up 21% on the back of the portfolio of active debit card customers growing to over 2.5 million, with 930,000 new acquisitions during the year. Home remittance commissions were a strong contributor with Rs. 2.0 billion earned during the year as UBL maintained its leadership as the preferred partner to the overseas Pakistani diaspora.