United Bank Limited (UBL) recorded a year on year growth of 19% in Profits After Tax (PAT) for the half year ended June 30, 2020. With strong build up in core earnings, revenues were recorded at Rs. 48.0 billion for H1’20, up 14% over H1’19. Despite inflationary pressures, the cost base remained flat versus last year at Rs. 19.2 billion, with the cost to income ratio improving from 45.8% in H1’19 to 39.9% in H1’20. This performance translates to earnings per share (EPS) of Rs. 9.31 for H1’20 (H1’19: Rs. 7.80). The bank maintained its very sound capital position with aCapital Adequacy Ratio (CAR) at 21.1% at Jun’20, well above the minimum regulatory requirement of 12.5%.