United Bank Limited · 2.9% in 2016. The anks net loans and advances grew by 12% over Dec15 to close at Rs. 510.1 billion (Dec15: Rs. 455.4 billion). The lending strategy is focused

United Bank LimitedUNCONSOLIDATED FINANCIAL STATEMENTS

AS AT DECEMBER 31, 2016

UNITED BANK LIMITED

DIRECTORS’ REPORT TO THE MEMBERS 2016

1

On behalf of the Board of Directors, I am pleased to present the 58th Annual Report of United

Bank Limited for the year ended December 31, 2016.

Financial Highlights

UBL posted a profit after tax (PAT) of Rs.

27.73 billion for the year ended December

31, 2016. The consolidated PAT was

recorded at Rs. 28.00 billion, an increase of

4% over the prior year (2015: Rs. 27.01

billion). The Earnings per share stood at Rs.

22.65 per share for the year ended 2016 in

comparison to Rs. 21.02 per share in 2015.

Profit before tax (PBT) stood at Rs. 46.02 billion, a growth of 9% over the last year. The overall

Return on Equity (RoE) measured at 25% (2015: 25.7%). This consistent performance has been

achieved through strong balance sheet growth driven by gaining market share through core

deposits along with prudent build up in high yielding assets. The break-up value per share has

increased to Rs. 124.0 as at Dec 31’16 (Dec’ 15: Rs. 116.1 per share)

Overall revenues have grown by 4% over 2015, closing at Rs. 80.65 billion. Net Markup Income

has increased by 2% and non-markup income by 7% year on year. The cost base continues to be

efficiently managed, with the overall expense growth curtailed at 3% over 2015 and the cost to

income ratio maintained in line with the previous year’s level at 39.6% despite lower margins,

expansion across the branch network and reinvestment in our core business segments.

Maintaining the focus on underwriting standards along with aggressive recoveries resulted in a

net reduction in NPLs from Rs. 46.83 billion in 2015 to Rs. 44.57 billion in 2016. The asset

quality level continues to improve and stood at 8.1% as at Dec’16 (2015: 9.4%). This has

resulted in a more than 50% reduction in the provisioning expense for the year.

The Board is pleased to recommend a final cash dividend of Rs. 4 per share i.e. 40% for the year

ended December 31, 2016, bringing the total cash dividend for the year 2016 to 130%.

42.17

25.73

46.02

27.73

PBT PAT2015 2016

Standalone Results - Rs. in billion

UNITED BANK LIMITED


2

Net Markup Income

The prevailing low interest rate

environment along with the

savings floor continued to

constrict banking margins. These

challenges notwithstanding, UBL

has expanded its Net Markup

Income by 2%, closing 2016 at Rs.

57.04 billion. Net interest margin

was recorded at 4.7% in 2016

(2015: 5.6%).

UBL’s balance sheet growth has resulted from a robust buildup in deposits as average domestic

current account volumes saw an increase of 18% year on year in 2016. The Bank’s overall cost

of deposits decreased by 42 bps to 2.7% in 2016 (2015: 3.1%). Growth in the loan portfolio

across all major business segments despite modest credit demand along with further

investment in high yielding bonds portfolio maintained interest earnings.

Non-Markup Income

UBL’s non-markup income grew by 7% over

2015 to close at Rs. 23.61 billion and continues

to strengthen the overall revenue profile of the

bank. Earnings are built on a diverse range of

services, from fee based facilities across Retail

Bank and UBL’s flagship branchless banking

service, Omni. Trade and investment banking

services across Corporate as well as leading

positions within Treasury and Capital markets

continue to grow and diversify revenue

potential. The overall contribution of Non Mark

up Income to gross revenues improved to 29.3%

in 2016 (2015: 28.3%).

Fee, commission and brokerage income constituted 52% of total non-markup income and was

recorded at Rs. 12.32 billion (2015: Rs. 12.20 billion). The ATM / Debit Cards business witnessed

significant growth during the year with over half a million new cards issued and consistent

55.84 57.04

5.6% 4.7%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

-

10.00

20.00

30.00

40.00

50.00

60.00

2015 2016

Net Interest Income Net Interest Margin

Rs. in billions

21.99 23.61

2015 2016Non Interest Income

Rs. in billions

7%

UNITED BANK LIMITED


3

growth in customer transaction volumes resulting in a 21% growth in commissions. Trade

commissions grew by 14% over 2015, in spite of commodity price pressures and weak trade

performance of the economy impacting business. UBL Omni remains one of the largest

contributors to the fee base as we expanded our Omni network to over 42,000 agents in order

to better serve an ever growing customer base. This has resulted in increased revenues from

payment services and disbursements under G2P programs. General economic slowdown in the

Gulf Cooperation Council (GCC) region and rebate cutback by the State Bank of Pakistan

restricted home remittance earnings. However, despite these challenges, we managed to

increase our overall volumes from last year and continue to retain our leadership position with

a market share of over 25%. Corporate mandates for equity and debt advisory as well as

trusteeship services led to a 19% growth in investment banking fees. 2016 proved to be a

particularly successful year for International Investment Banking that saw an increase in

revenues of around 70% over the previous year.

Dividend income reached Rs. 3.27 billion, slightly ahead the previous year’s level of Rs. 3.20

billion. With focus on maximizing dividend yield, our strategy remains to maintain a well-

balanced equities portfolio with investments in a diverse range of sectors and scrips with strong

fundamentals. Capital gains increased to Rs. 5.36 billion from Rs. 3.24 billion in 2015, primarily

on timely realization on bonds and equities. Foreign exchange earnings closed at Rs. 1.70

billion, a reduction of 25% from Rs. 2.27 billion earned in 2015 as reduced foreign exchange

flows and a relatively stable currency market weighed heavy across the industry.

Provisions and loan losses

The net provisioning expense

decreased by 53% from Rs. 3.71

billion in 2015 to Rs. 1.74 billion in

the current year. Asset quality was

measured at 8.1%, an improvement

of 133 bps from last year. This

improvement can be attributed to

credit quality considerations driving

loan book expansion along with

enhanced focus on recoveries against the bank’s non-performing corporate portfolio led by our

Special Assets Management Unit. We remain well-reserved against loan losses as the coverage

ratio improved from 80.1% at Dec’15 to 83.9% as at Dec’16.

3.71

1.74

2015 2016

Total Provisions

Rs. in billions

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Cost management

UBL’s administrative expenses increased by 3% over 2015 to close at Rs. 31.90 billion (2015: Rs.

30.90 billion). Staff cost increase was well contained at 6% over 2015, with headcount

maintained at optimum levels. The increase in personnel cost can be attributed to market

linked salary increases and performance increments. Premises costs were up by a mere 2% over

the previous year, essentially a result of rent increases on lease renewals across a major part of

the network. Electricity and gas costs were well-contained through the introduction of cost

saving initiatives to ensure efficient usage while centralization of the procurement process

restricted overall expenses. Variable costs decreased by 5% compared to the previous year as

we continued to actively monitor and rationalize controllable expenses. The Bank’s cost to

income ratio was recorded at 39.6% (2015: 39.7%). Maximizing operational efficiencies remains

our key priority as we continue to evolve leaner operating models. As we build synergies across

front office and operations we remain fully committed to continuous improvement in service

standards.

Balance Sheet Management

UBL’s balance sheet size reached Rs. 1.58

trillion as at Dec’16, an increase of 13%

over Dec’15. The Bank’s overall deposits

grew by 12% over Dec’15 to reach Rs. 1.18

trillion (2015: Rs. 1.05 trillion). Average

domestic deposits grew by 14% over

Dec’15 with market share recorded at

8.66% in 2016 (2015: 8.55%). Our deposit

mobilization strategy centers around active

acquisition of new to bank relationships

with aggressive focus on current accounts. This is depicted by a year on year growth of 16% in

core deposits and 18% in average current deposits during the year. The expansion in the Banks’

core deposits provides a sustainable funding base for business growth in addition to keeping

costs down in the current low interest rate scenario. Domestic CASA stood strong at 84% (2015:

84%), with the overall cost of deposits witnessing a 56 bps reduction from 3.4% last year to

2.9% in 2016.

The Bank’s net loans and advances grew by 12% over Dec’15 to close at Rs. 510.1 billion

(Dec’15: Rs. 455.4 billion). The lending strategy is focused on selectively growing the loan book,

while maximizing yields on overall relationships. The corporate advances portfolio grew by 10%

931 1,059

120 121

2015 2016

Core Deposits Non-Core Deposits

Rs. in billions

12.2%

UNITED BANK LIMITED


5

over Dec’15, with 15% growth in the SME segment. Despite limited credit opportunities in the

GCC, the International loan book grew by 16% to Rs. 168.2 billion; driven by Corporate and

Financial Institutions based lending.

The Bank’s investment portfolio grew to Rs. 806.5 billion by the end of Dec’16, an increase of

12% over Dec’15. The portfolio is mainly concentrated in treasury securities with Rs. 570.6

billion (2015: Rs. 486.9 billion) invested in Pakistan Investment Bonds, generating strong yields

of 9.7% in 2016. The Bank’s equity book closed at Rs. 16.0 billion (2015: Rs. 19.3 billion),

consisting of long-term investments with stable dividend yields. Despite capital gains of Rs 5.36

billion taken in 2016, the overall revaluation surplus on Available for Sale Investments stood at

Rs. 23.3 billion as at Dec 31, 2016 (Dec 2015: Rs. 25.6 billion).

Strong Capital Ratios

UBL’s capital ratios remained optimal as the unconsolidated Tier-1 CAR stood at 10.9% with the

overall capital adequacy improving to 15.1% in Dec’16 compared to 10.4% and 14.6% in Dec’15

respectively. Our capital position remains comfortable in view of regulatory minimum and

future Basel III requirements along with supporting future credit growth.

Best Bank 2016

The major achievement of United Bank Limited (UBL) in 2016 was that it was crowned the “Best Bank 2016” in the first ever Pakistan Banking Awards held by the Institute of Bankers Pakistan. The award was a testament to UBL’s position as a leading financial institution in Pakistan, its contribution to national development and overall effective management of resources and stakeholder expectations.

Economy Review

The economic turnaround which began its course after the 2013 elections has gathered further

momentum during the last year. Initiation of energy and infrastructure projects, structural

reforms, successful closure of the IMF program, sustained low oil prices, controlled inflation,

privatization drive, issuance of global bonds and the resultant rise in foreign exchange (FX)

reserves have all contributed to this positive momentum. This economic progress has been well

appreciated by key international donors and rating agencies. Visible progress on the China

Pakistan Economic Corridor (CPEC) over the last 12 months indicates that the country is now on

the path to long term and sustainable economic growth.

The energy sector remained a key priority for the government and notable progress has been

made in the right direction. However, in addition to the massive plan for increase in power

UNITED BANK LIMITED


6

generation, the government this is also the need to enhance focus on improving transmission

and distribution systems. The persistent low international oil prices have also helped contain

circular debt accumulation. The low interest rate regime along with improvement in the energy

supply have also rejuvenated the overall economic engine with the country achieving 4.7% real

GDP growth in FY’16, the strongest in the last 8 years.

On the external account front, there has been a strong build up in FX reserves which have

surpassed a record level of USD 23 billion from as low as USD 8 billion in January 2014. This has

also led to a very strong to stable exchange rate regime during the past two years whilst

improving overall import coverage. In view of the improved economic outlook, Pakistan has

issued various global bonds, including Eurobonds and Sukuks, all met by strong interest from

international capital markets.

Despite overall improvement in the FX reserves, the country’s trade deficit deteriorated during

H1 FY’17 to a level of USD 14.5 billion, up 22.2% on a YoY basis. During H1 FY’17, exports

declined by 3.8% year on year to USD 9.9 billion while imports increased by 10.1% year on year

to USD 24.4 billion. Due to relatively higher trade gap on goods and services along with

slowdown in workers’ remittances, the current account deficit for H1 FY’17 widened

significantly to USD 3.6 billion as compared to USD 1.9 billion during the same period last year.

After years of strong performance, remittances went down during H1 FY’17 to close at USD 9.5

billion against USD 9.7 billion vs in HY’16. Despite weaker current account performance, the

financial account supported the country’s reserves position with a net inflow of USD 3.7 billion

during H1 FY’17. The country’s overall FX reserves crossed a record USD 24 billion for the first

time in the country’s history and closed the year 2016 slightly lower at USD 23.2 billion, a

growth of 11.3% over the level of USD 20.8 billion a year ago. Due to a relatively stable balance

of payments position during the year, PKR-USD exchange rate remained largely stable and

closed 2016 at PKR 104.60, with marginal appreciation over PKR 104.74 at Dec’15.

For the fifth year in a row, the average CPI inflation remained in single digits and at a lower

level of 3.8% during 2016 as a result of significantly lower commodity prices, though it picked

up some pace in comparison to the 2015 average CPI level of 2.6%. Although the inflation level

remains comfortable, the gradual rise in the CPI reading has brought the cautious view back on

interest rates. Hence SBP decided to keep its policy rate largely unchanged during the year with

the last change being a marginal rate cut of 25bps in May 2016.

The Pakistan Stock Exchange (PSX) continued its upward trajectory and has been approaching

record levels of 50k points. During 2016, the KSE-100 index ended the year at around 48k

points, posting a significant year on year growth of 46%, making it the best performing market

UNITED BANK LIMITED


7

in Asia during 2016. Strong performance of Pakistan equities in 2016 was mainly led by strong

liquidity in the local system owing to low interest rates and rising investor confidence.

Economic recovery has positively affected local demand for oil stocks while an improving

security situation and exuberance on Pakistan’s reclassification in MSCI Emerging Markets Index

have also driven the overall bullish sentiment.

Deposits for the banking sector grew by 15.8% during the year with major impetus coming

towards the latter part of the year. Despite overall lower interest rates, loan momentum

remained subdued during most part of the year; however, gross advances gained some

strength during the latter part of the period with a growth of 13.6% in 2016. Non-performing

loans for the industry remained relatively stable at Rs. 631 billion at September 16 while the

gross infection ratio reduced to 11.3% from 11.4% in Dec’15.

International

The low oil price environment since mid-2015 compelled the GCC countries to resort to

stringent austerity measures. Lower subsidies, sizeable reduction in government spending and

rising external financing was seen across the gulf countries. As a result, IMF projected the

region’s GDP to grow by 1.7% in 2016 as against 4% growth posted last year. UAE, and to a

certain extent Qatar, are being supported by relatively diversified economies with continued

investment in infrastructure projects cushioning the fall in oil prices. Going forward, subdued

government spending will continue to constrain GCC economies, albeit to a lesser degree as oil

prices may pick up in light of OPEC’s recent decision to curtail production.

UBL International branches continued to positively contribute towards the Banks’ profitability

in 2016. The strategy of deepening its existing customer base and expanding on a carefully

carved out target market has enabled the Bank to record promising growth in all asset classes.

As a result, the total assets under UBL International closed at a record high of USD 2,973

million. Structured on the wholesale banking model, GCC branches’ risk remained diversified in

core corporate lending, fixed income investments and the financial institutions segments.

Despite a challenging liquidity situation prevailing in the GCC markets, the Bank was able to

record 7% growth in its overall deposit base in 2016.

Conscious of the developing economic situation in Gulf countries, the Bank has enhanced its

scale of due diligence and strengthened the risk surveillance of its existing portfolio. The Bank

has been able to de-risk a significant part of its Yemen exposures and continues to operate with

the risk reduction strategy going forward, all the while closely monitoring the developing

situation on ground.

UNITED BANK LIMITED


8

The international branches remained compliant with the applicable regulatory capital, liquidity

and provisioning requirements wherever required and continue to carry adequate provision to

weather any potential adverse situation on its network.

The Bank continued to play a lead role in processing home remittances to Pakistan and retained

its position as the market leader in 2016 as well. As part of UBL’s commitment to provide its

customers fast, secure and reliable banking services, the Bank launched the first ever Instant

Remittance Kiosk in its Bahrain branches. The Bank plans to roll out these Kiosks in other

international locations subject to securing the requisite regulatory approvals.

UBL International branches continued to capitalize on the unique offerings from its Non-

Resident Pakistani (NRP) initiative to provide banking access in Pakistan to the overseas

Pakistanis living in GCC countries. Since this initiative’s launch, the International branches have

contributed over Rs. 1.0 billion as NRP deposits in Pakistan.

In 2016, the Bank completed the international upgrade of its core banking system in the USA

and all the GCC branches. We have consistently been investing in technology within the

international business to ensure that the information systems remain compliant with the

applicable security, regulatory and compliance standards.

With the objective of maximizing synergies from increasing cross-border business, coordination

channels between UBL UK, UBL Switzerland, UBL Tanzania and International branches have

been further strengthened. The international branches continue to operate with a coherent

‘one-bank’ strategy with the rest of group independent entities.

Subsidiaries & Associates

Our subsidiaries and associates continued to post significant contribution to the UBL Group’s

consolidated results.

United National Bank Limited (UBL UK) is a 55% owned subsidiary of UBL. UBL UK recorded a

PBT of GBP 7.1 million in 2016, 1% lower compared to the previous year. This is attributable to

one off recoveries against non-performing loans booked last year. Spreads remain compressed

due to the low interest rate outlook in the UK. Resultantly Net Interest Income (NII) reported a

7% reduction year on year. Non-Funded Income (NFI) depicted a growth of 5% over last year.

UBL UK’s deposits grew by 13% during the year with greater focus on retail deposits, while

funds were primarily deployed in investments, with a marginal 3% decline in advances.

UNITED BANK LIMITED


9

UBL Switzerland AG (USAG) is a wholly owned subsidiary of UBL. Its revenues derived principally

from the trade business. USAG’s profit before tax increased by 6% over the previous year,

mainly driven by a rise in trade related fees. NII also showed a healthy growth of 8%. The

balance sheet continued to expand, led by growth in deposits and borrowings.

UBL Fund Managers Limited, Pakistan (UBLFM) is a 98.9% owned subsidiary of UBL and has

witnessed a growth in PBT of 20% over the prior year. The funds under management of UBLFM

remained at Rs. 76.15 billion, a significant growth of 24% over 2015. The growth in profits is

fueled by a rise in non-fund income.

UBL Bank (Tanzania) Limited (UBTL) was established in 2012 and is a wholly owned subsidiary of

UBL. During the year UBTL has incurred a loss, mainly as a result of reduced FX income,

provisioning against non-performing loans and higher administrative expenses with the opening

of a second branch. NII registered a growth of 11%. Foreign exchange earnings remained

heavily impacted, declining by 87% year on year as a result of a stable local currency and

reduced demand of foreign currency. Fee and commission revenues increased by 8%.

Technology

UBL retains its strong focus towards digitizing its operations and building its lead in providing

innovative solutions to its clients. In 2016 we have laid the foundation of a futuristic ‘Digital

Strategy’ that aims to revolutionize the way we do business. Our strategy has a three-pronged

focus: continuously improving client experience; investing in technologies that will enable that

experience; and, staying at the forefront of cybersecurity.

In 2016, UBL, in collaboration with MasterCard, UBL launched a QR code based payment

solution, “UBL MasterPass QR”, the first of its kind payment system for the local industry and a

global first for MasterCard. In recognition of this achievement, UBL also won the “Innovation

Award” at the Mastercard Innovation Forum. UBL has also enabled card less ATM transactions

that utilize biometric technology for authentication. At present, we own the largest biometric

enabled ATM network in Pakistan spanning over 530 ATMs. In the area of net banking, we have

deployed a two factor authentication mechanism for new sign-ups, SMS Alerts for online

activities and swift on boarding process with upgraded transaction limits.

Credit Ratings

In June 2016, JCR-VIS Credit Rating Company Limited (JCR-VIS) upgraded the entity ratings of

United Bank Limited (UBL) to ‘AAA/A-1+’ (Triple A/A-One Plus) from AA+/A-1+ (Double A

Plus/A-One Plus). Outlook on the assigned ratings is ‘Stable’.

UNITED BANK LIMITED


10

The assigned ratings incorporate the sustained improvement across key performance areas

including asset quality, liquidity, capitalization and profitability. Being a strong domestic

franchise, UBL’s diversified businesses and revenue streams are also a key ratings driver; as the

bank has a sizeable presence in the overseas market. Ratings also derive strength from the

strong liquidity profile of the Bank and the commitment to maintain optimal capital levels with

a buffer over and above the regulatory CAR requirement

Capital Intelligence (CI), an international credit rating agency, has re-affirmed UBL’s long-term

and short-term Foreign Currency ratings at B- and B respectively in line with CI’s sovereign

ratings for Pakistan. In addition, the Bank’s Financial Strength rating has been re-affirmed at

BB+, with the Outlook reaffirmed at Stable based on the Bank’s strong performance.

Future Outlook

2016 was an eventful year for the country’s economy with appreciable improvement across key

macroeconomic areas. The challenge for the government now is to fully capitalize on this

momentum by undertaking structural reforms as well as continued improvement in the law and

order situation.

The economic fundamentals are likely to gain further strength in the coming year with the

government expected to increase development spending and speed up its economic reforms

agenda with the approaching general elections (May 2018). The depressed oil prices will

provide the necessary fiscal buffer for higher spending in addition to supporting the country’s

balance of payment outlook and containing inflation at comfortable levels.

2017 would also be critical from the standpoint of China Pakistan Economic Corridor (CPEC).

Potential improvement in the security situation after the massive counter-terrorism operation,

higher industrial activity driven by CPEC and other big ticket projects would largely improve

investor confidence and build a longer term view on Pakistan.

UBL’s extensive outreach, market dominance across major segments and global network places

us well to capitalize on Pakistan’s economic turnaround. Retail Bank would remain the core

driver of our franchise where our strategy would continue to revolve around aggressive

acquisition of new to bank clients and deepening of relationships in order to grow the core

deposits base. We are in process of scaling up our Small and Medium Enterprises (SME)

segment and plan to actively tap its potential to capture increased credit and trade volumes.

Leveraging our large rural presence, we will strive towards greater financial inclusion through

tailored product offerings for the segment. We are geared up to re-establish UBL as an

innovative and active player in the Consumer business through new product development and

UNITED BANK LIMITED


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enhanced penetration. The Corporate and Institutional Banking Group would continue to

expand relationships within the public and private sectors through selective credit expansion

that maximizes relationship yield and capital efficiency. The Financial Institutions Group would

take the lead in the CPEC initiative, building new strategic alliances and greater synergies with

our domestic and international network. UBL International would work towards strengthening

contribution to group profits by re-energizing the Retail Engine and undertaking cautious

expansion in corporate assets. In order to build on our position as the most progressive and

innovative bank, our focus would remain on enhancing alternate delivery channels including

the development of next generation payment solutions.

Statement under Clause XVI of the Code of Corporate Governance

The Board of Directors is committed to ensure that the requirements of Corporate Governance

set by the Securities and Exchange Commission of Pakistan are fully met. The Bank has adopted

good corporate governance practices and the Directors are pleased to report that:

The financial statements prepared by the management of the Bank present fairly the state of affairs of the Bank, the results of its operations, cash flows and changes in equity.

Proper books of account of the Bank have been maintained.

Appropriate accounting policies have been consistently applied in the preparation of the financial statements, except for the change in accounting policies as described in Note 5. Accounting estimates are based on reasonable and prudent judgment.

International Financial Reporting Standards, as applicable to banks in Pakistan, have been followed in the preparation of the financial statements without any departure therefrom.

The system of internal control in the Bank is sound in design, and is effectively

implemented and monitored.

There are no significant doubts regarding the Bank’s ability to continue as a going concern.

There has been no material departure from the best practices of corporate governance.

Performance highlights for the last six years are attached to these unconsolidated

financial statements.

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Details of directors’ training programs are given in the statement of compliance with the code of corporate governance.

The Board has constituted the following three Committees with defined Terms of Reference

(TORs):

Board Audit Committee (BAC):

1. Mr. Arshad Ahmad Mir Chairman 2. Mr. Amin Uddin Member 3. Mr. Haider Zameer Choudrey Member

Board Risk and Compliance Committee (BRCC):

1. Mr. Zameer Mohammed Choudrey, CBE Chairman 2. Mr. Zaheer Sajjad Member 3. Mr. Wajahat Husain Member

Human Resource & Compensation Committee (HRCC):

1. Mr. Khalid A. Sherwani Chairman 2. Mr. Rizwan Pervez Member 3. Mr. Wajahat Husain Member

The number of Board Committees’ meetings held during the year and the number of meetings

attended by the directors is shown below:

BAC BRCC HRCC

Number of meetings held 4 4 4

Number of meetings attended:

Mr. Zameer Mohammed Choudrey, CBE - 4 -

Mr. Haider Zameer Choudrey 4 - -

Mr. Rizwan Pervez - - 4

Mr. Amin Uddin 4 - -

Mr. Arshad Ahmad Mir 4 - -

Mr. Zaheer Sajjad * - 3 1

Mr. Khalid A. Sherwani * - 1 3

Mr. Wajahat Husain - 4 4

UNITED BANK LIMITED


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* During the year, BRCC and HRCC were reconstituted. The number of meetings attended by

these two directors have been mentioned accordingly.

The Bank operates five funded retirement Schemes which are the Provident Fund, Gratuity

Fund, Pension Fund, Benevolent Fund and General Provident Fund.

The values of the investments of these funds based on their latest audited financial statements

as at December 31, 2015 are as follows:

Rupees in ‘000

Employees’ Provident Fund 3,427,753

Employees’ Gratuity Fund 655,102

Staff Pension Fund 2,911,286

Staff General Provident Fund 1,201,336

Officers / Non-Officers’ Benevolent Fund 900,968

Meetings of the Board of Directors

During the year under review, the Board of Directors met six times. The number of meetings

attended by each Director during the year is shown below:

Name of the Director Designation Meetings attended

Sir Mohammed Anwar Pervez, OBE, HPk Chairman 6

Mr. Zameer Mohammed Choudrey, CBE Director 6

Mr. Amin Uddin Director 6

Mr. Arshad Ahmad Mir Director 6

Mr. Zaheer Sajjad Director 6

Mr. Haider Zameer Choudrey Director 6

Mr. Rizwan Pervez Director 6

Mr. Khalid A. Sherwani Director 6

Mr. Wajahat Husain President & CEO 6

UNITED BANK LIMITED


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Pattern of Shareholding

The pattern of shareholding as at December 31, 2016, as required u/s 236 of the Companies

Ordinance, 1984 and Clause (xvi) of the Code of Corporate Governance is given below:

Shareholders No. of Shares % of Ordinary

Shares

Bestway Group (BG) 752,406,007 61.46

Privatization Commission of Pakistan 1,714 0.00

General Public & Others 397,147,310 32.44

NIT 1,036,099 0.09

Banks, DFIs & NBFIs 24,552,940 2.01

Insurance Companies 20,328,372 1.66

Modarabas & Mutual Funds 21,324,307 1.74

International GDRs (non-voting shares) 7,382,938 0.60

TOTAL OUTSTANDING SHARES 1,224,179,687 100.00

The aggregate shares held by the following are:

No. of shares

a) Associated Companies, undertakings & related parties

- Bestway (Holdings) Limited * 631,728,895

- Bestway Cement Limited 93,649,744

b) NIT

- CDC-Trustee National Investment (Unit) Trust 1,036,099

c) Modarabas & Mutual Funds ** 21,324,307

d) Public sector companies and corporations 2,203,506

e) Banks, DFIs, NBFIs, Insurance Companies 44,881,312

f) Directors & CEO ***

-Sir Mohammed Anwar Pervez, OBE, HPk 12,765,368

-Zameer Mohammed Choudrey, CBE 2,348,870

- Haider Zameer Choudrey 2,000,000

- Rizwan Pervez 44,500

-Amin Uddin 2,750

-Arshad Ahmad Mir 2,500

- Zaheer Sajjad 2,537

- Khalid A. Sherwani 2,500

- Wajahat Husain, President & CEO 377,490

g) - Executives 1,607,711

UNITED BANK LIMITED


15

* The Bank is a subsidiary of Bestway (Holdings) Limited which is incorporated in the United

Kingdom

** Name wise detail of Modarabas & Mutual Funds is annexed with Categories of Shareholders.

*** There were no shares held by the spouses or minor children of the Directors and CEO of the Bank.

Trades in the shares of UBL carried out by Directors, Executives and their spouses and minor

children, as defined in Clause xvi (l) of the Code of Corporate Governance are annexed along

with the Pattern of Shareholding.

Risk Management Framework

The Risk and Credit Policy Group has the following divisions, headed by senior executives,

reporting to the Group Executive - Risk and Credit Policy:-

Credit Policy & Research

Credit Risk Management

Market & Treasury Risk, Basel - Analytics & Reporting and FI Risk Management

Operational Risk & Basel II

International Risk

Consumer Credit Policy & Analytics

A Risk Management Committee comprising of heads of all areas of Risk, Business and Credit

Administration are responsible for reviewing and undertaking strategic business decisions with

a collective view on Credit Risk, Market Risk, Operational Risk and Capital.

The Domestic Credit Policies of the bank were updated and modified based on the changing risk

and regulatory environment and implemented during the year. The revision of bank’s policies

includes “Credit Policy 2016” and “Agriculture Credit Policy 2016”.

Shareholders holding 5% or more voting rights No. of shares %

Bestway (Holdings) Limited 631,728,895 51.60

Bestway Cement Limited 93,649,744 7.65

UNITED BANK LIMITED


16

During the year the portfolio was mapped and aligned with revision in Prudential Regulations

and Circulars issued by SBP. This included the remapping of the SME portfolio as per the new

definition of ‘SE’ and ‘ME’. Furthermore, the revised processes for rescheduling and

restructuring have also been implemented. In addition to the above, a simplified loan

application form for facilitating agriculture lending has also been adopted. On the consumer

finance portfolio, as interest rates bottom out, policies were reviewed in view of changing

market dynamics to increase quality acquisitions. The overall processes were also strengthened

to ensure better portfolio performance. Additionally, portfolio management techniques such as

use of bureau reviews were also used for identifying high potential customers to assist in

recoveries from vintage NPLs.

The bank has maintained its CAR well above prescribed regulatory thresholds throughout the

year based on applicable requirements under Basel-III. The Internal Capital Adequacy

Assessment Process (ICAAP) Framework is continuously reviewed on an annual basis and

updated based on any material change in the underlying long term strategy of the bank.

The market risk function continues to actively monitor portfolio performance in light of the

changing dynamics of both domestic and international markets. The function uses sophisticated

tools including sensitivity analyses and scenario analyses of portfolio positions in order to

assess potential risks resulting from shifts in interest rates.

As per the bank’s approved Operational Risk Management Policy and Framework, a database is

being maintained for covering losses, control breaches and near misses. Major risk events are

analyzed from the control breach perspective and mitigating controls are assessed on design

and operational effectiveness. Quarterly updates on operational risk events are presented to

senior management and the Board’s Risk & Compliance Committee.

There were continued efforts to enhance the scope of and implement a robust ‘Operational

Risk Management Framework’. The bank has an internal operational risk awareness program

which is aimed at building capacity and inculcating a risk free culture in the staff through

workshops and on-job awareness for promoting greater risk awareness. Proactive management

and consistent improvements in operational risk profile and the overall control environment

remains a key focus across all functions.

Statement of Internal Controls

The Board is pleased to endorse the statement made by management relating to Internal

Controls over Financial Reporting (ICFR) and also the overall internal controls. The Statement on

Internal Controls is included in the Annual Report.

UNITED BANK LIMITED


17

Auditors

The present auditors M/S. KPMG Taseer Hadi & Co., Chartered Accountants and M/S. A. F.

Ferguson & Co., Chartered Accountants, retire and being eligible, offer themselves for re-

appointment in the forthcoming Annual General Meeting. The Board of Directors, on the

recommendation of the Board Audit Committee, recommends M/S. KPMG Taseer Hadi & Co.,

Chartered Accountants and M/S. A. F. Ferguson & Co., Chartered Accountants, for re-

appointment as auditors of the Bank.

Conclusion

In conclusion, I would like to express my gratitude to UBL shareholders and customers for their

continued patronage as well as to my fellow Board members for their cooperation. We value

the commitment and dedication of our staff. We would also like to extend our appreciation to

the Government of Pakistan, the State Bank of Pakistan, the Securities & Exchange Commission

and other regulatory bodies for their continuous guidance and support.

For and on behalf of the Board,

Sir Mohammed Anwar Pervez, OBE, HPk

Chairman

Dubai

February 17, 2017

UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2016

Note 2016 2015

ASSETSCash and balances with treasury banks 6 131,506,861 112,011,276 Balances with other banks 7 14,920,994 16,859,118 Lendings to financial institutions 8 34,168,287 24,094,768 Investments 9 806,531,246 719,518,093

AdvancesPerforming 10 502,940,552 446,116,682 Non-performing - net of provision 10 7,170,372 9,297,198

510,110,924 455,413,880

Operating fixed assets 11 35,581,758 31,630,374 Deferred tax asset - net - - Other assets 12 44,730,953 41,123,334

1,577,551,023 1,400,650,843

LIABILITIESBills payable 14 11,756,422 13,391,739 Borrowings 15 201,549,619 163,131,947 Deposits and other accounts 16 1,179,887,048 1,051,235,170 Subordinated loans - - Liabilities against assets subject to finance lease - - Deferred tax liability - net 17 4,691,544 4,186,406 Other liabilities 18 27,879,529 26,570,106

1,425,764,162 1,258,515,368

NET ASSETS 151,786,861 142,135,475

REPRESENTED BY:Share capital 19 12,241,798 12,241,798 Reserves 40,454,505 38,402,303 Unappropriated profit 64,246,270 55,222,960

116,942,573 105,867,061

Surplus on revaluation of assets - net of deferred tax 20 34,844,288 36,268,414 151,786,861 142,135,475

CONTINGENCIES AND COMMITMENTS 21

The annexed notes from 1 to 48 and annexures form an integral part of these unconsolidated financial statements.

Wajahat Husain Amin Uddin Zameer Mohammed Choudrey, CBE Sir Mohammed Anwar Pervez, OBE, HPk President & Director Director ChairmanChief Executive Officer

--------------------- (Rupees in '000) ---------------------

UNCONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2016

Note 2016 2015

Mark-up / return / interest earned 23 98,219,214 94,352,931 Mark-up / return / interest expensed 24 41,176,686 38,511,161 Net mark-up / return / interest income 57,042,528 55,841,770

Provision against loans and advances - net 10.3 504,901 3,058,621 Reversal of provision against lendings to financial institutions - net 8.7 (15,500) - Provision for diminution in value of investments - net 9.3 891,684 411,056 Bad debts written off directly 10.4 97,781 161,229

1,478,866 3,630,906 Net mark-up / return / interest income after provisions 55,563,662 52,210,864

Non mark-up / return / interest incomeFee, commission and brokerage income 12,318,684 12,203,210 Dividend income 3,266,559 3,204,850 Income from dealing in foreign currencies 1,701,016 2,270,980 Gain on sale of securities - net 25 5,364,463 3,228,321 Unrealized (loss) / gain on revaluation of investments classified as held for trading 9.4 (2,184) 9,202 Other income 26 960,104 1,070,444 Total non mark-up / return / interest income 23,608,642 21,987,007

79,172,304 74,197,871

Non mark-up / return / interest expensesAdministrative expenses 27 31,903,598 30,896,159 Other provisions - net 28 260,848 79,417 Workers' Welfare Fund 29 922,449 845,507 Other charges 30 69,813 202,103 Total non mark-up / return / interest expenses 33,156,708 32,023,186 Profit before taxation 46,015,596 42,174,685

Taxation - Current 31 14,898,709 15,042,952 Taxation - Prior 31 2,100,381 1,800,541 Taxation - Deferred 31 1,286,394 (395,957)

18,285,484 16,447,536 Profit after taxation 27,730,112 25,727,149

Earnings per share - basic and diluted 32 22.65 21.02



----------- (Rupees) -----------

------- (Rupees in '000) -------

UNCONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2016

2016 2015

Profit after taxation 27,730,112 25,727,149

Other comprehensive income:

Items that will not be reclassified to profit or loss in subsequent periods

Remeasurement loss of defined benefit obligations (107,434) (438,264) Related deferred tax reversal 37,602 153,392

(69,832) (284,872) Items that may be reclassified to profit or loss in subsequent periods

Exchange differences on translation of net investment in foreign branches (720,809) 1,699,457

Other comprehensive income transferred to equity 26,939,471 27,141,734

Items that may be reclassified to profit or loss in subsequent periods

(Deficit) / surplus arising on revaluation of available for sale securities (2,283,241) 8,294,461 Related deferred tax reversal / (charge) 799,135 (2,903,061)

(1,484,106) 5,391,400

Total comprehensive income during the year - net of tax 25,455,365 32,533,134



------- (Rupees in '000) -------

UNCONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2016

Note 2016 2015

CASH FLOW FROM OPERATING ACTIVITIESProfit before taxation 46,015,596 42,174,685 Less: Dividend income 3,266,559 3,204,850

42,749,037 38,969,835 Adjustments: Depreciation on operating fixed assets 1,607,107 1,521,874 Depreciation on Islamic financing against leased assets (Ijarah) 205,186 225,424 Amortization 314,870 386,494 Workers' Welfare Fund 922,449 845,507 Provision for retirement benefits 158,912 572,740 Provision for compensated absences 315,084 268,505 Provision against loans and advances - net 504,901 3,058,621 Reversal of provision against lendings to financial institutions - net (15,500) - Provision for diminution in value of investments - net 891,684 411,056 Reversal of provision in respect of investments disposed off during the year (569,357) (41,569) Provision against off balance sheet items 27,081 6,279 Gain on sale of operating fixed assets - net (44,273) (19,023) Gain on sale of ijarah assets (44,685) (863) Bad debts written-off directly 97,781 161,229 Unrealized loss / (gain) on revaluation of investments classified as held for trading 2,184 (9,202) Provision charge / (reversal) against other assets - net 143,908 (9,249)

4,517,332 7,377,823 47,266,369 46,347,658

(Increase) / decrease in operating assets Lendings to financial institutions (10,058,019) (2,222,630) Held for trading securities 3,606,415 (3,718,477) Advances (55,651,884) (23,860,288) Other assets (excluding advance taxation) 1,031,748 (1,909,088)

(61,071,740) (31,710,483) Increase / (decrease) in operating liabilities Bills payable (1,635,317) 3,838,154 Borrowings 38,417,672 110,066,791 Deposits and other accounts 128,651,878 156,152,117 Other liabilities (excluding current taxation) 1,573,196 (845,297)

167,007,429 269,211,765 153,202,058 283,848,940

Payments on account of staff retirement benefits (608,600) (1,218,518) Income taxes paid (21,816,894) (15,942,496) Net cash inflow from operating activities 130,776,564 266,687,926

CASH FLOW FROM INVESTING ACTIVITIESNet investment in securities (93,755,108) (210,531,438) Dividend income received 3,158,032 3,199,400 Investment in operating fixed assets (5,927,402) (3,937,323) Sale proceeds from disposal of operating fixed assets 91,203 49,084 Sale proceeds from disposal of ijarah assets 191,657 72,365 Net cash outflow from investing activities (96,241,618) (211,147,912)

NET CASH OUTFLOW FROM FINANCING ACTIVITIESDividends paid (16,256,676) (15,942,157) Net cash outflow from financing activities (16,256,676) (15,942,157) Exchange differences on translation of net investment in foreign branches (720,809) 1,699,457

Increase in cash and cash equivalents 17,557,461 41,297,314

Cash and cash equivalents at the beginning of the year 128,870,394 87,573,080 Cash and cash equivalents at the end of the year 33 146,427,855 128,870,394



------- (Rupees in '000) -------

UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2016

Balance as at December 31, 2014 12,241,798 21,851,889 12,278,242 48,217,351 94,589,280

Transactions with owners for the year ended December 31, 2015

Final cash dividend - December 31, 2014 declaredsubsequent to the year end at Rs.4.0 per share - - - (4,896,719) (4,896,719)

Interim cash dividend - March 31, 2015 declaredat Rs.3.0 per share - - - (3,672,539) (3,672,539)

Interim cash dividend - June 30, 2015 declaredat Rs.3.0 per share - - - (3,672,539) (3,672,539)

Interim cash dividend - September 30, 2015 declaredat Rs.3.0 per share - - - (3,672,539) (3,672,539)

- - - (15,914,336) (15,914,336)

Total comprehensive income for the year ended December 31, 2015

Profit after taxation for the year ended December 31, 2015 - - - 25,727,149 25,727,149

Other comprehensive income - net of tax - - 1,699,457 (284,872) 1,414,585 Total comprehensive income for the year ended December 31, 2015 - - 1,699,457 25,442,277 27,141,734

Transfer from surplus on revaluation of fixed assets to unappropriated profit - net of tax - - - 50,383 50,383

Transfer to statutory reserve - 2,572,715 - (2,572,715) -


Transactions with owners for the year ended December 31, 2016

Final cash dividend - December 31, 2015 declaredsubsequent to the year end at Rs.4.0 per share - - - (4,896,719) (4,896,719)

Interim cash dividend - March 31, 2016 declaredat Rs.3.0 per share - - - (3,672,539) (3,672,539)

Interim cash dividend - June 30, 2016 declaredat Rs.3.0 per share - - - (3,672,539) (3,672,539)

Interim cash dividend - September 30, 2016 declaredat Rs.3.0 per share - - - (3,672,539) (3,672,539)

- - - (15,914,336) (15,914,336)

Total comprehensive income for the year ended December 31, 2016

Profit after taxation for the year ended December 31, 2016 - - - 27,730,112 27,730,112 Other comprehensive income - net of tax - - (720,809) (69,832) (790,641) Total comprehensive income for the year ended December 31, 2016 - - (720,809) 27,660,280 26,939,471

Transfer from surplus on revaluation of fixed assets to unappropriated profit - net of tax - - - 50,377 50,377

Transfer to statutory reserve - 2,773,011 - (2,773,011) -




Appropriations recommended by the Board of Directors subsequent to the year ended December 31, 2016 are disclosed in note 46to these unconsolidated financial statements.

---------------------------------------------------- (Rupees in '000) ----------------------------------------------------

Share capital Unappropriated profit TotalStatutory

reserve

Capital reserve - Exchange translation

NOTES TO AND FORMING PART OF THE UNCONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED DECEMBER 31, 2016

1. STATUS AND NATURE OF BUSINESS

2. BASIS OF PRESENTATION

2.1

2.2

3. STATEMENT OF COMPLIANCE

3.1

3.2

3.3

3.4

Standard, Interpretation or Amendment

IFRS 2 - Share-based Payment - (Amendments)IFRS 12 - Disclosure of Interest in Other Entities - (Improvement)

United Bank Limited (the Bank) is a banking company incorporated in Pakistan and is engaged in commercial banking andrelated services. The Bank's registered office and principal office are situated at UBL Building, Jinnah Avenue, Blue Area,Islamabad and at UBL Head Office, I. I. Chundrigar Road, Karachi respectively. The Bank operates 1,341 (2015: 1,312)branches inside Pakistan including 47 (2015: 41) Islamic Banking branches and 2 (2015: 1) branches in Export ProcessingZones. The Bank also operates 18 (2015: 18) branches outside Pakistan as at December 31, 2016. The Bank is asubsidiary of Bestway (Holdings) Limited which is incorporated in the United Kingdom.

In accordance with the directives of the Federal Government regarding the shifting of the banking system to Islamic modes,the State Bank of Pakistan (SBP) has issued various circulars from time to time. Permissible forms of trade-related modesof financing include purchase of goods by banks from their customers and immediate resale to them at appropriate mark-upin price on deferred payment basis. The purchases and sales arising under these arrangements are not reflected in theseunconsolidated financial statements as such, but are restricted to the amount of facility actually utilized and the appropriateportion of mark-up thereon. The Islamic Banking branches of the Bank have complied with the requirements set out underthe Islamic Financial Accounting Standards issued by the Institute of Chartered Accountants of Pakistan (ICAP) and notifiedunder the provisions of the Companies Ordinance, 1984.

The SBP, vide BSD Circular letter No. 10, dated August 26, 2002 has deferred the applicability of International AccountingStandard 39, Financial Instruments: Recognition and Measurement and International Accounting Standard 40, InvestmentProperty for banking companies till further instructions. Further, according to the notification of the SECP issued vide SRO411(I)/2008 dated April 28, 2008, IFRS 7, Financial Instruments: Disclosures has not been made applicable for banks.Accordingly, the requirements of these standards have not been considered in the preparation of these unconsolidatedfinancial statements. However, investments have been classified and valued in accordance with the requirements of variouscirculars issued by the SBP. Further, segment information is being disclosed in accordance with SBP’s prescribed format asper BSD circular 4 dated Feb 17, 2006 which prevails over the requirements specified in IFRS 8.

These unconsolidated financial statements have been prepared in accordance with approved accounting standards asapplicable in Pakistan, the requirements of the Companies Ordinance, 1984, the Banking Companies Ordinance, 1962 andthe directives issued by the Securities and Exchange Commission of Pakistan (SECP) and the SBP. Approved accountingstandards comprise of International Financial Reporting Standards (IFRS) and interpretations issued by the InternationalAccounting Standards Board and Islamic Financial Accounting Standards (IFAS) issued by the ICAP. Wherever therequirements of the Companies Ordinance, 1984, the Banking Companies Ordinance, 1962 or the directives issued by theSECP and the SBP differ with the requirements of IFRS or IFAS, the requirements of the Companies Ordinance, 1984, theBanking Companies Ordinance, 1962 or the said directives prevail.

The Bank's ordinary shares are listed on Pakistan Stock Exchange. Its Global Depository Receipts (GDRs) are on the list ofthe UK Listing Authority and the London Stock Exchange Professional Securities Market. These GDRs are also eligible fortrading on the International Order Book System of the London Stock Exchange. Further, the GDRs constitute an offering inthe United States only to qualified institutional buyers in reliance on Rule 144A under the US Securities Act of 1933 and anoffering outside the United States in reliance on Regulation S.

The following revised standards, amendments and interpretations with respect to the approved accounting standards wouldbe effective from the dates mentioned below against the respective standard or interpretation:

Key financial figures of the Islamic Banking branches are disclosed in note 44 to these unconsolidated financial statements.

These unconsolidated financial statements represent the separate financial statements of the Bank. The consolidatedfinancial statements of the Bank and its subsidiaries are presented separately.

Standards, interpretations and amendments to approved accounting standards that are not yet effective

January 01, 2017

Effective date (annual periodsbeginning on or after)

January 01, 2018

6


Standard, Interpretation or Amendment

IAS 12 - Income Taxes - (Amendments)IAS 7 - Statement of cash flow - (Amendments)IAS 28 - Investments in associates and joint ventures - (Improvement)IFRIC 22- Foreign Currency Transactions and Advance Consideration

Standard or Interpretation

IFRS 9 - Financial Instruments: Classification and MeasurementIFRS 15 - Revenue from contracts with customers

4. BASIS OF MEASUREMENT

4.1 Accounting convention

4.2 Critical accounting estimates and judgments

i) classification of investments (notes 5.3 and 9)

ii)

iii) income taxes (notes 5.7 and 31)

iv) staff retirement benefits (notes 5.9 and 35)

v) fair value of derivatives (notes 5.14.2 and 18.3)

vi) operating fixed assets, revaluation, depreciation and amortization (notes 5.5 and 11)

vii) impairment (note 5.6)

viii) valuation of non-banking assets acquired in satisfaction of claims (note 5)

January 01, 2018

These unconsolidated financial statements have been prepared under the historical cost convention except that certainoperating fixed assets and non-banking assets acquired in satisfaction of claims have been stated at revalued amounts andcertain investments and derivative financial instruments have been stated at fair value.

Significant accounting estimates and areas where judgments were made by management in the application of accountingpolicies are as follows:

January 01, 2018

January 01, 2018

provision against investments (notes 5.3 and 9.3), lendings to financial institutions (note 8.7) and advances (notes 5.4and 10.3)

The preparation of these unconsolidated financial statements in conformity with approved accounting standards requiresmanagement to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities andincome and expenses. It also requires management to exercise judgment in the application of its accounting policies. Theestimates and assumptions are based on historical experience and various other factors that are believed to be reasonableunder the circumstances. These estimates and assumptions are reviewed on an ongoing basis. Revisions to accountingestimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the periodof revision and future periods if the revision affects both current and future periods.

The Bank expects that the adoption of above amendments and interpretations will not affect its financial statements in theperiod of initial application.

IASB Effective date (annual periods beginning on or after)

Effective date (annual periodsbeginning on or after)

January 01, 2018

January 01, 2017

The following new standards have been issued by the IASB, but have not yet been notified by the SECP for application inPakistan.

January 01, 2017

7


5. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Non banking assets acquired in satisfaction of claims

5.1 Cash and cash equivalents

5.2 Lendings to / borrowings from financial institutions

5.2.1 Purchase under resale agreements

5.2.2 Sale under repurchase agreements

5.2.3 Bai Muajjal

5.3 Investments

Held for trading

Held to maturity

These are securities which are either acquired for generating a profit from short-term fluctuations in market prices, interestrate movements and dealer's margin, or are securities included in a portfolio in which a pattern of short term profit takingexists.

These are securities with fixed or determinable payments and fixed maturities, in respect of which the Bank has the positiveintent and ability to hold to maturity.

The Bank enters into transactions of reverse repos and repos at contracted rates for a specified period of time. These arerecorded as under:

Cash and cash equivalents for the purpose of the cash flow statement consist of cash and balances with treasury banksand balances with other banks.

The accounting policies adopted in the preparation of these unconsolidated financial statements are consistent with those ofthe previous financial year, except for the following:

Securities purchased under agreement to resell (reverse repo) are included in lendings to financial institutions. Thedifferential between the purchase price and the resale price is amortized over the period of the agreement and recorded asincome.

The securities sold under Bai Muajjal agreement are derecognised on the date of disposal. Receivable against such sale isrecognised at the agreed sale price. The difference between the sale price and the carrying value on the date of disposal istaken to income on straightline basis.

Securities held as collateral are not recognized in the unconsolidated financial statements, unless these are sold to thirdparties, in which case the obligation to return them is recorded at fair value as a trading liability under borrowings fromfinancial institutions.

Investments of the Bank, other than investments in subsidiaries and associates, are classified as held for trading, held tomaturity and available for sale.

Securities sold subject to a repurchase agreement (repo) are retained in the unconsolidated financial statements asinvestments and the counterparty liability is included in borrowings from financial institutions. The differential between thesale price and the repurchase price is amortized over the period of the agreement and recorded as an expense.

Effective January 1, 2016, the Bank has changed its accounting policy for recording of non-banking assets acquired insatisfaction of claims to comply with the requirements of the 'Regulations for Debt Property Swap' (the regulations)issued by SBP vide its BPRD Circular No. 1 of 2016, dated January 1, 2016. In line with the guidance provided in theRegulations, the non-banking assets acquired in satisfaction of claims are carried at revalued amounts lessaccumulated depreciation. These assets are revalued by professionally qualified valuers with sufficient regularity toensure that their net carrying value does not differ materially from their fair value. A surplus arising on revaluation ofproperty is credited to the 'surplus on revaluation of non-banking assets' account and any deficit arising on revaluationis taken to profit and loss account directly. Legal fees, transfer costs and direct costs of acquiring title to property arecharged to profit and loss account and not capitalised. Previously, non-banking assets acquired in satisfaction ofclaims were carried at cost less impairment, if any. Had the accounting policy not been changed, non-banking assets(included in Other Assets in the statement of financial position) would have been lower by Rs 169.861 million whilesurplus on revaluation of assets and related deferred tax would have been lower by Rs 110.410 million and Rs 59.451million respectively.

8


Available for sale

Initial measurement

Subsequent measurement

Held for trading

Held to maturity

Available for sale

Investments in Subsidiaries and Associates

Gains and losses on disposal of investments in subsidiaries and associates are included in the profit and loss account.

5.4 Advances

These are investments, other than those in subsidiaries and associates, that do not fall under the held for trading or held tomaturity categories.

These are measured at subsequent reporting dates at fair value. Gains and losses on re-measurement are included in theprofit and loss account.

Provisions for diminution in the value of term finance certificates and Sukuks are made as per the ageing criteria prescribedby the Prudential Regulations issued by the SBP. Provisions for diminution in the value of other securities are made forimpairment, if any.

Advances are stated net of specific and general provisions which are charged to the profit and loss account. Specificprovisions against domestic advances and general provision against domestic loans to small enterprises and consumerloans are determined on the basis of the Prudential Regulations and other directives issued by the SBP. General andspecific provisions pertaining to overseas advances are made in accordance with the requirements of the regulatoryauthorities of the respective countries. If circumstances warrant, the Bank, from time to time, makes general provisionsagainst weaknesses in its portfolio on the basis of management's estimation.

Investments are initially recognized at fair value which, in the case of investments other than held for trading, includestransaction costs associated with the investments. Transaction costs on investments held for trading are expensed asincurred.

Investments in subsidiaries and associates are valued at cost less impairment, if any. A reversal of an impairment loss onsubsidiaries and associates is recognized in the profit and loss account as it arises provided the increased carrying valuedoes not exceed cost.

Unquoted equity securities are valued at the lower of cost and break-up value. The break-up value of these securities iscalculated with reference to the net assets of the investee company as per the latest available audited financial statements.A decline in the carrying value is charged to the profit and loss account. A subsequent increase in the carrying value, uptothe cost of the investment, is credited to the profit and loss account. Investments in other unquoted securities are valued atcost less impairment, if any.

All “regular way” purchases and sales of investments are recognized on the trade date, i.e., the date that the Bank commitsto purchase or sell the investment. Regular way purchases or sales are purchases or sales of investments that requiredelivery of investments within the time frame generally established by regulation or convention in the market place.

Quoted securities classified as available for sale investments are measured at subsequent reporting dates at fair value. Anysurplus or deficit arising thereon is kept in a separate account shown in the statement of financial position below equity andis taken to the profit and loss account when realized upon disposal or when the investment is considered to be impaired.

These are measured at amortized cost using the effective interest rate method, less any impairment loss recognized toreflect irrecoverable amounts.

9


5.4.1 Islamic financings and related assets

5.5 Operating fixed assets and depreciation

5.5.1 Tangible

5.5.2 Intangible assets

The Bank determines write-offs in accordance with the criteria prescribed by the SBP vide BPRD Circular No. 06 datedJune 05, 2007.

Depreciation is calculated so as to write off the depreciable amount of the assets over their expected useful lives at therates specified in note 11.2 to these unconsolidated financial statements. The depreciation charge for the year is calculatedon a straight line basis after taking into account the residual value, if any. The residual values and useful lives are reviewedand adjusted, if appropriate, at each statement of financial position date.

Property and equipment, other than land (which is not depreciated) and capital work-in-progress, are stated at cost orrevalued amount less accumulated depreciation and accumulated impairment losses (if any). Land is carried at revaluedamount less impairment losses while capital work-in-progress is stated at cost less impairment losses. The cost and theaccumulated depreciation of property and equipment of foreign branches include exchange differences arising on currencytranslation at the year-end rates of exchange.

Advances are written off when there is no realistic prospect of recovery. The amount so written off is a book entry and doesnot necessarily prejudice the Bank's right of recovery against the customer.

Land and buildings are revalued by professionally qualified valuers with sufficient regularity to ensure that their net carryingvalue does not differ materially from their fair value. A surplus arising on revaluation is credited to the surplus on revaluationof fixed assets account. Any deficit arising on subsequent revaluation of fixed assets is adjusted against the balance in theabove mentioned surplus account as allowed under the provisions of the Companies Ordinance, 1984. The surplus onrevaluation of fixed assets, to the extent of incremental depreciation, is transferred to unappropriated profit.

Gains and losses on sale of fixed assets are included in the profit and loss account, except that the related surplus onrevaluation of fixed assets (net of deferred tax) is transferred directly to unappropriated profit.

Major renewals and improvements are capitalized and the assets so replaced, if any, are retired. Normal repairs andmaintenance are charged to the profit and loss account as and when incurred.

Intangible assets are stated at cost less accumulated amortization and accumulated impairment losses, if any. The cost andthe accumulated amortization of intangible assets of foreign branches include exchange differences arising on currencytranslation at the year-end rates of exchange. Amortization is calculated so as to write off the amortizable amount of theassets over their expected useful lives at the rates specified in note 11.3 to these unconsolidated financial statements. Theamortization charge for the year is calculated on a straight line basis after taking into account the residual value, if any. Theresidual values and useful lives are reviewed and adjusted, if appropriate, at each statement of financial position date.Amortization on additions is charged from the month the asset is available for use. No amortization is charged in the monthof disposal.

Depreciation on additions is charged from the month the asset is available for use. No depreciation is charged in the monthof disposal.

Receivables under Murabaha financing represent cost price plus an agreed mark-up on deferred sale arrangement. Markupincome is recognised on a straight line basis over the period of the instalments.

Diminishing Musharaka is partnership agreement between the Bank and its customer for financing vehicle or plant andmachinery. The receivable is recorded to the extent of Bank's share in the purchase of asset. Income is recognised onaccrual basis

Gains and losses on sale of intangible assets are included in the profit and loss account.

Ijarah financing represents arrangements whereby the Bank (being the owner of assets) transfers its usufruct to itscustomers for an agreed period at an agreed consideration. Assets leased out under Ijarah are stated at cost lessaccumulated depreciation and accumulated impairment losses, if any. These are depreciated over the term of the lease.Ijarah income is recognized on an accrual basis.

10


5.6 Impairment

Impairment of available for sale equity investments

Impairment of investments in subsidiaries and associates

Impairment in non-financial assets (excluding deferred tax)

5.7 Taxation

5.7.1 Current

5.7.2 Prior years

5.7.3 Deferred

5.8 Provisions

The Bank also recognizes deferred tax asset / liability on the deficit / surplus on revaluation of fixed assets / non-bankingassets acquired in satisfaction of claims and securities which is adjusted against the related deficit / surplus in accordancewith the requirements of IAS 12, Income Taxes.

The carrying amounts of non-financial assets are reviewed at each reporting date for impairment whenever events orchanges in circumstances indicate that the carrying amounts of these assets may not be recoverable. If such indicationexists, and where the carrying value exceeds the estimated recoverable amount, assets are written down to theirrecoverable amount. The resulting impairment loss is charged to the profit and loss account except for an impairment losson revalued assets, which is adjusted against the related revaluation surplus to the extent that the impairment loss does notexceed the revaluation surplus.

Provisions are recognized when the Bank has a legal or constructive obligation as a result of past events which makes itprobable that an outflow of resources will be required to settle the obligation and a reliable estimate of the amount can bemade.

Provision for current taxation is based on taxable income for the year determined in accordance with the prevailing laws andat the prevailing rates for taxation on income earned by the Bank.

The taxation charge for prior years represents adjustments to the tax charge relating to prior years, arising fromassessments / changes in laws and changes in estimates made during the current year.

Deferred tax assets are recognized only to the extent that it is probable that future taxable profits will be available againstwhich the assets can be utilized.

The Bank considers that a decline in the recoverable value of the investment in a subsidiary or an associate below its costmay be evidence of impairment. Recoverable value is calculated as the higher of fair value less costs to sell and value inuse. An impairment loss is recognized when the recoverable value falls below the carrying value and is charged to the profitand loss account. A subsequent reversal of an impairment loss, upto the cost of the investment in the subsidiary or theassociate, is credited to the profit and loss account.

Available for sale equity investments are impaired when there has been a significant or prolonged decline in their fair valuebelow their cost. The determination of what is significant or prolonged requires judgment. In making this judgment, the Bankevaluates, among other factors, the normal volatility in share price.

Deferred tax is recognized using the balance sheet method on all major temporary differences between the amountsattributed to assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred taxis calculated at the rates that are expected to apply to the period when the differences are expected to reverse, based ontax rates that have been enacted or substantively enacted at the statement of financial position date.

The carrying amount of deferred tax assets is reviewed at each statement of financial position date and reduced to theextent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the deferred tax assetto be utilized.

11


Provisions are reviewed at each statement of financial position date and are adjusted to reflect the current best estimate.

5.9 Staff retirement and other benefits

5.9.1 Staff retirement benefit schemes

The Bank operates the following staff retirement schemes for its employees:

a)

- an approved contributory provident fund (defined contribution scheme); and- an approved gratuity scheme (defined benefit scheme).

b) For employees who have not opted for the conversion option introduced in 2001, the Bank operates:

- an approved non-contributory provident fund in lieu of the contributory provident fund; and- an approved funded pension scheme, introduced in 1986 (defined benefit scheme).

5.9.2 Other benefits

a) Employees' compensated absences

b) Post retirement medical benefits (defined benefit scheme)

c) Employee motivation and retention scheme

5.9.3 Remeasurement of defined benefit obligations

Provision against identified non-funded losses is recognized when intimated and reasonable certainty exists that the Bankwill be required to settle the obligation. The provision is charged to the profit and loss account net of expected recovery andthe obligation is classified under other liabilities.

For new employees and for those who opted for the below mentioned conversion option introduced in 2001, the Bankoperates:

For the defined contribution scheme, the Bank pays contributions to the fund on a periodic basis. The Bank has no furtherpayment obligation once the contributions have been paid. The contributions are recognized as an expense when theobligation to make payments to the fund has been established. Prepaid contributions are recognized as an asset to theextent that a cash refund or a reduction in future payments is available.

Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions arerecognized in other comprehensive income when they occur with no subsequent recycling through the profit and lossaccount.

In 2001, the Bank modified the pension scheme and introduced a conversion option for employees covered under option (b)above to move to option (a). This conversion option ceased on December 31, 2003.

The Bank makes provisions for compensated vested and non-vested absences accumulated by its eligible employeeson the basis of actuarial advice under the Projected Unit Credit Method.

Annual contributions towards defined benefit schemes are made on the basis of actuarial advice using the Projected UnitCredit Method.

The Bank has a long term motivation and retention scheme for its employees. The liability of the Bank in respect of thescheme for each year, if any, is fixed, and is accounted for in the year to which the scheme relates.

The Bank provides post retirement medical benefits to eligible retired employees. Provision is made on the basis ofactuarial advice under the Projected Unit Credit Method.

The Bank also operates benevolent fund for all its eligible employees (defined benefit scheme).

12


5.10 Subordinated loans

5.11 Borrowings / deposits

a) Borrowings / deposits are recorded at the amount of proceeds received.

b)

5.12 Revenue recognition

5.12.1 Advances and investments

5.12.2 Dividend income

Dividend income is recognised when the right to receive the dividend is established.

5.12.3 Fee, brokerage and commission income

5.12.4 Grants

5.13 Foreign currencies

5.13.1 Functional and presentation currency

5.13.2 Foreign currency transactions

Items included in these unconsolidated financial statements are measured using the currency of the primary economicenvironment in which the Bank operates. These unconsolidated financial statements are presented in Pakistani Rupees,which is the Bank's functional and presentation currency.

Fee, brokerage and commission income is recognized on an accrual basis.

Interest or mark-up recoverable on non-performing or classified advances and investments is recognized on a receipt basis.

Grants received are recorded as income when the right to receive the grant, based on the related expenditure having beenincurred, has been established.

Subordinated loans are initially recorded at the amount of proceeds received. Mark-up accrued on subordinated loans isrecognised separately as part of other liabilities and is charged to the profit and loss account over the period on an accrualbasis.

Revenue is recognized to the extent that the economic benefits associated with a transaction will flow to the Bank and therevenue can be reliably measured. The following recognition criteria must be met before revenue is recognized.

Remeasurement gains and losses pertaining to long term compensated absences are recognized in the profit and lossaccount immediately.

Mark-up / return / interest on performing advances and investments is recognized on a time proportionate basis over theterm of the advances and investments that takes into account the effective yield of the asset. Where debt securities arepurchased at a premium or discount, such premium / discount is amortized through the profit and loss account over theremaining period of maturity of the debt securities.

Transactions in foreign currencies are translated to rupees at the foreign exchange rates prevailing on the transaction date.Monetary assets and liabilities in foreign currencies are expressed in rupee terms at the rates of exchange prevailing at thestatement of financial position date. Forward foreign exchange contracts and foreign bills purchased are valued in rupees atthe forward foreign exchange rates applicable to their respective maturities.

The cost of borrowings / deposits is recognized on an accrual basis as an expense in the period in which it is incurred.

13


5.13.3 Foreign operations

5.13.4 Translation gains and losses

5.13.5 Contingencies and commitments

5.14 Financial instruments

5.14.1 Financial assets and liabilities

5.14.2 Derivative financial instruments

5.14.3 Hedge accounting

Cash flow hedges

The Bank makes use of derivative instruments to manage exposures to interest rate, foreign currency and credit risks. Inorder to manage particular risks, the Bank may undertake a hedge. The Bank applies hedge accounting for transactionswhich meet the specified criteria.

For qualifying cash flow hedges, the fair value gain or loss associated with the effective portion of the cash flow hedge isrecognised initially in the statement of changes in equity, and recycled through the profit and loss account in the periodswhen the hedged item will affect profit or loss. Any gain or loss on the ineffective portion of the hedging instrument isrecognised in the profit and loss account immediately.

At the inception of the hedging relationship, the Bank formally documents the relationship between the hedged item and thehedging instrument, including the nature of the risk, the objective and strategy for undertaking the hedge and the methodthat will be used to assess the effectiveness of the hedging relationship. A formal assessment is also undertaken toascertain whether the hedging instrument is expected to be highly effective in offsetting the designated risk in the hedgeditem. A hedge is regarded as highly effective if, during the period for which the hedge is designated, changes in the fairvalue or cash flows attributable to the hedged item are expected to be offset by between 80% to 125% by correspondingchanges in the fair value or cash flows attributable to the hedging instrument.

Translation gains and losses are taken to the profit and loss account, except those arising on translation of the netinvestment in foreign branches which are taken to capital reserves (Exchange Translation Reserve) until the disposal of thenet investment, at which time these are recognised in the profit and loss account.

The assets and liabilities of foreign operations are translated to rupees at exchange rates prevailing at the statement offinancial position date. The results of foreign operations are translated at the average rates of exchange for the year.

Derivative financial instruments are initially recognized at fair value on the date on which the derivative contract is enteredinto and are subsequently re-measured at fair value using appropriate valuation techniques. All derivative financialinstruments are carried as assets when their fair value is positive and liabilities when their fair value is negative. Any changein the fair value of derivative financial instruments during the period is taken to the profit and loss account.

Commitments for outstanding forward foreign exchange contracts are disclosed in these unconsolidated financialstatements at contracted rates. Contingent liabilities / commitments denominated in foreign currencies are expressed inrupee terms at the rates of exchange prevailing at the statement of financial position date.

When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, anycumulative gain or loss existing in equity at that time remains in equity and is recognised when the hedged item is ultimatelyrecognised in the profit and loss account.

Non-monetary assets and liabilities in foreign currencies are expressed in rupee terms at the rates of exchange prevailing atthe date of initial recognition of the non-monetary assets / liabilities.

Financial assets and liabilities carried on the statement of financial position include cash and bank balances, lendings tofinancial institutions, investments, advances, certain receivables, bills payable, borrowings from financial institutions,deposits, subordinated loans and certain payables. The particular recognition methods adopted for significant financialassets and financial liabilities are disclosed in the individual policy notes associated with them.

14


5.14.4 Off setting

5.15 Segment reporting

5.15.1 Business segments

(a) Corporate finance

(b) Trading and sales

(c) Retail banking

(d) Commercial banking

(e) Others

Others includes functions which cannot be classified in any of the above segments.

5.15.2 Geographical segments

The Bank operates in following geographical regions:

- Pakistan- Middle East- United States of America- Export Processing Zones in Karachi and Sialkot

5.16 Dividends and appropriations to reserves

5.17 Earnings per share

A segment is a distinguishable component of the Bank that is engaged either in providing particular products or services(business segment), or in providing products or services within a particular economic environment (geographical segment),and is subject to risks and rewards that are different from those of other segments.

Financial assets and financial liabilities are set off and the net amount is reported in the unconsolidated financial statementswhen there is a legally enforceable right to set off and the Bank intends to either settle on a net basis, or to realize theassets and to settle the liabilities simultaneously.

The Bank presents basic and diluted earnings per share (EPS). Basic EPS is calculated by dividing the profit or lossattributable to ordinary shareholders of the Bank by the weighted average number of ordinary shares outstanding during theyear.

Dividends and appropriations to reserves are recorded in the year in which these are approved, except appropriationsrequired by law which are recorded in the period to which they pertain.

Commercial banking includes project finance, working capital finance, trade finance, import and export, factoring,leasing, lending, deposits and guarantees.

Corporate finance includes services provided in connection with mergers and acquisitions, project finance and theunderwriting / arrangement of debt and equity instruments through syndications, Initial Public Offerings and privateplacements.

Retail banking includes retail and consumer lending and deposits, banking services, cards and branchless banking.

Trading and sales includes fixed income, equity, foreign exchange, credit, funding, own position securities, lendingsand borrowings and derivatives for hedging and market making.

15


Note 2016 20156. CASH AND BALANCES WITH TREASURY BANKS

In handLocal currency 13,072,593 8,776,285Foreign currency 4,896,410 4,113,207

17,969,003 12,889,492With State Bank of Pakistan in

Local currency current accounts 6.1 33,315,897 24,910,033Foreign currency current accounts 6.2 2,307,913 2,380,015Foreign currency deposit account 6.3 6,841,899 6,945,540

42,465,709 34,235,588With other central banks in Foreign currency current accounts 6.4 31,773,168 32,172,907 Foreign currency deposit accounts 6.5 1,775,653 1,888,726

33,548,821 34,061,633With National Bank of Pakistan in local currency current accounts 37,422,940 30,641,342National Prize Bonds 100,388 183,221

131,506,861 112,011,276

6.1

6.2

6.3

6.4

6.5

Note 2016 2015

7. BALANCES WITH OTHER BANKS

Inside PakistanIn current accounts - 14,889 In deposit accounts 7.1 2,825,007 2,930,007

2,825,007 2,944,896

Outside PakistanIn current accounts 5,342,117 6,425,982 In deposit accounts 7.2 6,753,870 7,488,240

12,095,987 13,914,222

14,920,994 16,859,118

7.1

7.2

------- (Rupees in '000) -------

This represents current accounts maintained with the SBP under the Cash Reserve Requirement of section 22 of theBanking Companies Ordinance, 1962.

------- (Rupees in '000) -------

This represents account maintained with the SBP to comply with the Special Cash Reserve requirement. The return on thisaccount is declared by the SBP on a monthly basis and, as at December 31, 2016, carries mark-up at the rate of 0.00%(2015: 0.00%) per annum.

This represents a US Dollar settlement account maintained with the SBP and current accounts maintained with the SBP tocomply with statutory requirements.

This represents placement with overseas central banks and carries mark-up at the rate of 0.75% (2015: 0.50%) perannum.

These carry mark-up at rates ranging from 5.80% to 5.95% (2015: 6.00% to 6.30%) per annum.

These carry mark-up at rates ranging from 0.10% to 1.84% (2015: 0.10% to 1.90%) per annum and include balancesamounting to Rs. 1,004.146 million (2015: Rs. 225.193 million), maintained with an overseas bank against the statutoryreserves requirement of a foreign branch.

Deposits with other central banks are maintained to meet the minimum cash reserves and capital requirements pertainingto the foreign branches of the Bank.

16


Note 2016 20158. LENDINGS TO FINANCIAL INSTITUTIONS

Call money lending 8.2 1,500,000 1,300,000 Repurchase agreement lendings 8.3 - 976,841 Bai Muajjal receivable from other financial institutions 8.4 11,226,452 - Other lendings to financial institutions 8.5 & 8.6 22,247,898 22,640,412

34,974,350 24,917,253 Provision against lendings to financial institutions 8.7 (806,063) (822,485)

34,168,287 24,094,768 8.1 Particulars of lendings to financial institutions - gross

In local currency 19,335,529 5,496,662 In foreign currencies 15,638,821 19,420,591

34,974,350 24,917,253

8.2

8.3 Securities held as collateral against repurchase agreement lendings

2015Held by Bank Further given

as collateral / sold

Total Held by Bank Further given as collateral / sold

Total

Market Treasury Bills - - - 976,841 - # 976,841

8.4

8.5

8.6

8.7

2016 2015

Opening balance 822,485 795,242 Exchange adjustments (922) 27,243

Reversals for the year (15,500) -

Closing balance 806,063 822,485

------- (Rupees in '000) -------

This represents provision made against lendings to financial institutions with movement as follows:

Lendings pertaining to domestic operations carry mark-up at rates ranging from 0.00% to 8.14% per annum (2015: 0.00%to 8.80% per annum) and are due to mature latest by February 2022. Lendings pertaining to overseas operations carrymark-up at rates ranging from 1.20% to 4.13% per annum (2015: 0.00% to 4.49% per annum) and are due to mature latestby July 2021.

2016

This includes an unsecured subordinated loan amounting to Rs. 257.916 million (2015: Rs. 311.468 million) to UnitedNational Bank Limited (UBL UK), a subsidiary, and is due to mature by October 2018. The loan carries mark-up at a rate ofsix months LIBOR + 2% per annum payable semi-annually, with principal to be paid at maturity. The right of the Bank issubordinated as to the receipt of principal and mark-up to all other indebtedness of United Bank UK (including deposits).

----------------------------------------------- (Rupees in '000) -----------------------------------------------

------- (Rupees in '000) -------

This represents unsecured lending carrying mark-up at a rate 5.25% per annum (2015: 4.50% to 5.80%per annum) and isdue to mature by January 2017.

This represents Bai Muajjal agreements entered into with various financial institutions whereby the Bank has sold sukuks having carrying value of Rs. 11,073.312 million on deferred payment basis. The average return on these transactions is 5.60%. The balances are due to mature latest by March 2017.

17


9. INVESTMENTS

9.1 Investments by typeNote Held by

BankGiven as collateral

Total Held by Bank

Given as collateral

Total

Held for trading securitiesMarket Treasury Bills 8,120,078 - 8,120,078 9,757,289 - 9,757,289Pakistan Investment Bonds 154,805 - 154,805 2,095,573 - 2,095,573Ordinary shares of listed companies - - - 19,234 - 19,234

8,274,883 - 8,274,883 11,872,096 - 11,872,096Available for sale securitiesMarket Treasury Bills 25,117,903 47,933,801 73,051,704 54,047,186 894,235 54,941,421Pakistan Investment Bonds 184,088,469 96,854,633 280,943,102 153,364,754 111,285,139 264,649,893Government of Pakistan Sukuk 7,233,271 - 7,233,271 9,909,514 - 9,909,514Government of Pakistan Eurobonds 14,053,787 - 14,053,787 14,114,386 - 14,114,386Ordinary shares of listed companies 16,007,107 - 16,007,107 19,310,549 - 19,310,549Preference shares 372,636 - 372,636 434,765 - 434,765Ordinary shares of unlisted companies 243,084 - 243,084 243,087 - 243,087Investment in REIT 458,590 - 458,590 458,590 - 458,590Term Finance Certificates 556,284 - 556,284 1,371,162 - 1,371,162Foreign bonds - sovereign 19,250,876 - 19,250,876 17,232,964 - 17,232,964Foreign bonds - others 9,500,569 - 9,500,569 10,782,176 - 10,782,176

276,882,576 144,788,434 421,671,010 281,269,133 112,179,374 393,448,507Held to maturity securitiesMarket Treasury Bills 26,968,740 - 26,968,740 33,700,017 - 33,700,017Pakistan Investment Bonds 289,522,875 - 289,522,875 220,168,425 - 220,168,425Government of Pakistan Eurobonds 6,897,076 - 6,897,076 7,670,645 - 7,670,645Government of Pakistan Sukuk 683,000 - 683,000 - - - Other Federal Government Securities - - - 5,391,120 - 5,391,120Term Finance Certificates 4,715,333 - 4,715,333 5,402,573 - 5,402,573Sukuks 9,024,950 - 9,024,950 4,234,531 - 4,234,531Participation Term Certificates 2,795 - 2,795 2,795 - 2,795Debentures 2,266 - 2,266 2,266 - 2,266Foreign bonds - sovereign 6,608,534 - 6,608,534 1,809,871 - 1,809,871Foreign bonds - others 357,609 - 357,609 227,179 - 227,179Recovery note 322,399 - 322,399 322,839 - 322,839CDC SAARC Fund 228 - 228 228 - 228

345,105,805 - 345,105,805 278,932,489 - 278,932,489AssociatesUnited Growth and Income Fund 419,308 - 419,308 419,308 - 419,308UBL Liquidity Plus Fund 10,079 - 10,079 10,079 - 10,079UBL Money Market Fund 9,850 - 9,850 9,850 - 9,850UBL Retirement Savings Fund 30,000 - 30,000 120,000 - 120,000UBL Principal Protected Fund - III - - - 200,000 - 200,000UBL Government Securities Fund 2,699,175 - 2,699,175 2,699,175 - 2,699,175UBL Gold Fund 100,000 - 100,000 100,000 - 100,000UBL Asset Allocation Fund 680,000 - 680,000 500,000 - 500,000Al Ameen Islamic Cash Fund 10,470 - 10,470 1,010,470 - 1,010,470Al Ameen Islamic Aggressive Income Fund 25,944 - 25,944 25,944 - 25,944Al Ameen Islamic Sovereign Fund 50,000 - 50,000 50,000 - 50,000Al Ameen Islamic Retirement Savings Fund - - - 90,000 - 90,000Al Ameen Islamic Principal Preservation Fund – III - - - 100,000 - 100,000Al Ameen Islamic Principal Preservation Fund – IV - - - 100,000 - 100,000Al Ameen Islamic Principal Preservation Fund – V - - - 100,000 - 100,000Al Ameen Islamic Asset Allocation Fund 100,000 - 100,000 100,000 - 100,000Al Ameen Islamic Financial Planning Fund 504,690 - 504,690 200,000 - 200,000UBL Insurers Limited 240,000 - 240,000 240,000 - 240,000Khushhali Bank Limited 832,485 - 832,485 832,485 - 832,485Oman United Exchange Company, Muscat 6,981 - 6,981 6,981 - 6,981DHA Cogen Limited 9.7 - - - - - -

5,718,982 - 5,718,982 6,914,292 - 6,914,292SubsidiariesUnited National Bank Limited (UBL UK) 2,855,223 - 2,855,223 2,855,223 - 2,855,223UBL (Switzerland) AG 589,837 - 589,837 589,837 - 589,837UBL Fund Managers Limited 100,000 - 100,000 100,000 - 100,000UBL Bank (Tanzania) Limited 1,322,014 - 1,322,014 1,322,014 - 1,322,014United Executors and Trustees Company Ltd. 30,100 - 30,100 30,100 - 30,100

4,897,174 - 4,897,174 4,897,174 - 4,897,174640,879,420 144,788,434 785,667,854 583,885,184 112,179,374 696,064,558

Provision for diminution in value of investments 9.3 (2,428,208) - (2,428,208) (2,132,692) - (2,132,692)

Investments - net of provision 638,451,212 144,788,434 783,239,646 581,752,492 112,179,374 693,931,866Surplus on revaluation of available for sale securities 20.2 13,646,446 9,647,338 23,293,784 14,338,740 11,238,285 25,577,025(Deficit) / surplus on revaluation of held for trading securities 9.4 (2,184) - (2,184) 9,202 - 9,202

Total investments 652,095,474 154,435,772 806,531,246 596,100,434 123,417,659 719,518,093

-------------------------------------------------- (Rupees in '000) --------------------------------------------------

2016 2015

18


Note 2016 2015

9.2 Investments by segment

Federal Government SecuritiesMarket Treasury Bills 96,090,512 84,622,830 Pakistan Investment Bonds 570,620,782 486,913,891 Government of Pakistan Sukuk 7,916,271 9,909,514 Government of Pakistan Eurobonds 20,950,863 21,785,031 Other Federal Government Securities - 5,391,120

695,578,428 608,622,386

Foreign SecuritiesMarket Treasury Bills 12,050,010 13,775,897 Sovereign bonds 25,859,410 19,042,835 CDC SAARC Fund 228 228 Recovery note 322,399 322,839 Other bonds 9,858,178 11,009,355

48,090,225 44,151,154

Ordinary sharesListed companies 16,007,107 19,329,783 Unlisted companies 243,084 243,087

16,250,191 19,572,870

Preference shares 372,636 434,765

Term Finance Certificates Listed 1,179,803 1,180,236 Unlisted 4,091,814 5,593,499

5,271,617 6,773,735

Sukuks 9,024,950 4,234,531

Debentures 2,266 2,266

Participation Term Certificates 2,795 2,795

Investment in REIT 458,590 458,590

Investments in subsidiaries and associates 10,616,156 11,811,466

Total investments at cost 785,667,854 696,064,558

Provision for diminution in value of investments 9.3 (2,428,208) (2,132,692)

Investments - net of provision 783,239,646 693,931,866

Surplus on revaluation of available for sale securities 20.2 23,293,784 25,577,025 9.4 (2,184) 9,202

Total investments 806,531,246 719,518,093

------- (Rupees in '000) -------

(Deficit) / surplus on revaluation of held for trading securities

19


2016 2015

9.3 Provision for diminution in value of investments

9.3.1 Opening balance 2,132,692 1,725,669 Exchange adjustments (1,263) 37,536

Charge / (reversals)Charge for the year 963,556 443,585 Reversals (71,872) (32,529)

891,684 411,056

Reversed on disposal (569,357) (41,569) Amounts written off (25,548) - Closing balance 2,428,208 2,132,692

9.3.2 Provision for diminution in value of investments by type

Available for sale securitiesOrdinary shares of listed companies 1,218,667 817,446 Ordinary shares of unlisted companies 137,129 137,129 Term Finance Certificates 97,616 97,616 Preference shares 335,934 343,512

1,789,346 1,395,703 Held to maturity securities

Term Finance Certificates 41,851 51,356 Sukuks 42,650 130,563 Foreign bonds 226,867 227,176 Recovery note 322,433 322,833 Participation Term Certificates 2,795 2,795 Debentures 2,266 2,266

638,862 736,989 2,428,208 2,132,692

9.3.3 Provision for diminution in value of investments by segment

Equity securitiesListed companies 1,218,667 817,446 Unlisted companies 137,129 137,129 Preference shares 335,934 343,512

1,691,730 1,298,087

Debt securitiesTerm Finance Certificates 139,467 148,972 Sukuks 42,650 130,563 Recovery note 322,433 322,833 Foreign bonds 226,867 227,176 Participation Term Certificates 2,795 2,795 Debentures 2,266 2,266

736,478 834,605 2,428,208 2,132,692

9.4 Unrealized (loss) / gain on revaluation of held for trading securities

Market Treasury Bills (1,962) (1,436) Pakistan Investment Bonds (222) 10,169 Ordinary shares of listed companies - 469

(2,184) 9,202

------- (Rupees in '000) -------

20


9.5

9.6

9.7

9.8

10. ADVANCES Note

2016 2015 2016 2015 2016 2015

Loans, cash credits,running finances, etc.

In Pakistan 317,697,928 287,342,709 29,717,889 32,823,235 347,415,817 320,165,944 Outside Pakistan 127,913,711 112,774,827 12,053,537 10,910,259 139,967,248 123,685,086

445,611,639 400,117,536 41,771,426 43,733,494 487,383,065 443,851,030

Islamic financings and related assets 7,277,360 6,990,193 94,614 166,307 7,371,974 7,156,500

Bills discounted and purchased

Payable in Pakistan 13,976,584 12,055,724 2,700,944 2,933,431 16,677,528 14,989,155 Payable outside Pakistan 39,203,743 31,035,225 - - 39,203,743 31,035,225

53,180,327 43,090,949 2,700,944 2,933,431 55,881,271 46,024,380 Advances - gross 506,069,326 450,198,678 44,566,984 46,833,232 550,636,310 497,031,910

Provision against advances 10.3- Specific - - (37,396,612) (37,536,034) (37,396,612) (37,536,034) - General (3,128,774) (4,081,996) - - (3,128,774) (4,081,996)

(3,128,774) (4,081,996) (37,396,612) (37,536,034) (40,525,386) (41,618,030)

Advances - net of provision 502,940,552 446,116,682 7,170,372 9,297,198 510,110,924 455,413,880

2016 2015 2016 2015 2016 2015

10.1 Particulars of advances - gross

10.1.1 In local currency 329,236,693 289,606,487 32,166,038 35,573,809 361,402,731 325,180,296 In foreign currencies 176,832,633 160,592,191 12,400,946 11,259,423 189,233,579 171,851,614

506,069,326 450,198,678 44,566,984 46,833,232 550,636,310 497,031,910

10.1.2 Short term 304,284,529 259,726,799 - - 304,284,529 259,726,799 Long term 201,784,797 190,471,879 44,566,984 46,833,232 246,351,781 237,305,111

506,069,326 450,198,678 44,566,984 46,833,232 550,636,310 497,031,910

Information relating to investments required to be disclosed as part of the financial statements under the SBP's BSDCircular No. 4 dated February 17, 2006, and details in respect of the quality of available for sale securities are disclosed inAnnexure 'A' which forms an integral part of these unconsolidated financial statements.

Total

Investments include securities which are held by the Bank to comply with the statutory liquidity requirements as set outunder Section 29 of the Banking Companies Ordinance, 1962.

Investments include Rs. 282.000 million (2015: Rs. 282.000 million) held by the SBP and National Bank of Pakistan aspledge against demand loan, TT / DD discounting facilities and foreign exchange exposure limit sanctioned to the Bank andRs. 5.000 million (2015: Rs. 5.000 million) held by the Controller of Military Accounts (CMA) under Regimental FundArrangements.

As a result of exercise of a pledge in 2013, the Bank holds 20.99% of the issued and paid up capital of DHA Cogen Limitedwithout any consideration having been paid. Consequently, DHA Cogen Limited is classified as an associated company.

Non-performingPerforming

Total

---------------------------------------------- (Rupees in '000) --------------------------------------------------------

---------------------------------------------- (Rupees in '000) --------------------------------------------------------

Performing Non-performing

21


10.2

Domestic Overseas Total Domestic Overseas Total Domestic Overseas Total

Other Assets Especially

Mentioned * 126,711 - 126,711 3,576 - 3,576 3,576 - 3,576

Substandard 908,055 1,259,239 2,167,294 222,697 276,506 499,203 222,697 276,506 499,203

Doubtful 2,471,496 2,216,423 4,687,919 1,203,332 795,729 1,999,061 1,203,332 795,729 1,999,061

Loss 29,007,185 8,577,875 37,585,060 27,881,140 7,013,632 34,894,772 27,881,140 7,013,632 34,894,772

32,513,447 12,053,537 44,566,984 29,310,745 8,085,867 37,396,612 29,310,745 8,085,867 37,396,612

94,614 -

Domestic Overseas Total Domestic Overseas Total Domestic Overseas Total

Other Assets Especially

Mentioned * 38,294 - 38,294 427 - 427 427 - 427

Substandard 3,990,022 833,654 4,823,676 322,240 86,771 409,011 322,240 86,771 409,011

Doubtful 1,145,884 2,945,603 4,091,487 568,637 1,298,566 1,867,203 568,637 1,298,566 1,867,203

Loss 30,748,773 7,131,002 37,879,775 29,925,554 5,333,839 35,259,393 29,925,554 5,333,839 35,259,393

35,922,973 10,910,259 46,833,232 30,816,858 6,719,176 37,536,034 30,816,858 6,719,176 37,536,034

* The Other Assets Especially Mentioned category pertains to agricultural finance and advances to small enterprises.

10.3 Particulars of provision against advances

Note Specific General Total Specific General Total

Opening balance 37,536,034 4,081,996 41,618,030 43,761,929 2,022,770 45,784,699

Exchange adjustments 12,926 (107,002) (94,076) 263,177 96,249 359,426

Charge / (reversals)

Charge for the year 5,687,885 - 5,687,885 3,000,046 1,963,230 4,963,276

Reversals 10.3.3 (4,336,764) (846,220) (5,182,984) (1,904,402) (253) (1,904,655)

1,351,121 (846,220) 504,901 1,095,644 1,962,977 3,058,621

Transfers in - net 515,625 - 515,625 264,722 - 264,722

Amounts written off 10.4 (2,019,094) - (2,019,094) (7,849,438) - (7,849,438)

Closing balance 37,396,612 3,128,774 40,525,386 37,536,034 4,081,996 41,618,030

10.3.1

10.3.2

10.3.3

10.3.4 Particulars of provision against advances

Specific General Total Specific General Total

In local currency 28,963,336 257,162 29,220,498 30,467,694 1,009,066 31,476,760

In foreign currencies 8,433,276 2,871,612 11,304,888 7,068,340 3,072,930 10,141,270

37,396,612 3,128,774 40,525,386 37,536,034 4,081,996 41,618,030

------------------------------------------------ (Rupees in '000) ------------------------------------------------

Provision required

------------------------------------------------ (Rupees in '000) ------------------------------------------------

2016

------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------

The Bank has availed the benefit of Forced Sale Value (FSV) of certain mortgaged properties held as collateral against non-performing advances as allowed under BSD Circular 1 of 2011. Had the benefit under the said circular not been taken bythe Bank, the specific provision against non-performing advances would have been higher by Rs. 56.375 million (2015: Rs.96.346 million). The FSV benefit availed is not available for the distribution of cash or stock dividend to shareholders.

2015

Provision held

2015

Category of

classification

2016

Classified advances

General provision represents provision amounting to Rs. 218.074 million (2015: Rs. 239.461 million) against consumerfinance portfolio and Rs. 39.088 million (2015: Rs. 37.942 million) against advances to small enterprises as required by thePrudential Regulations issued by the SBP and Rs. 2,382.615 million (2015: Rs. 2,531.266 million) pertaining to overseasadvances to meet the requirements of the regulatory authorities of the respective countries in which the overseas branchesoperate. General provision also includes Rs. 488.997 million (2015: Rs 541.664 million) which is based on managementestimates and regulatory instructions. Further, the Bank carried provision of nil (2015: Rs. 731.663 million) as a matter ofprudence given the prevailing economic environment.

This includes provision reversals amounting to Rs. 444.034 million (2015: Rs. 216.777 million) as a result of settlementthrough debt asset swap arrangements with various customers.

Advances include Rs. 44,566.984 million (2015: Rs. 46,833.232 million) which have been placed under non-performingstatus as detailed below:

Provision required

2015

Provision heldCategory of

classification

2016

Classified advances

------------------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------------------

22


Note 2016 2015

10.4 Particulars of write-offs

10.4.1 Against provisions 10.3 2,019,094 7,849,438 Directly charged to profit and loss account 97,781 161,229

2,116,875 8,010,667

10.4.2 Write-offs of Rs.500,000 and above 10.5 1,901,454 5,470,304 Write-offs below Rs.500,000 215,421 2,540,363

2,116,875 8,010,667

10.5 Details of loan write-offs of Rs.500,000 and above

Note 2016 2015

10.6 Particulars of loans and advances to executives, Directors,associated companies etc.

Balance at the beginning of the year 13,040,213 14,198,303

Loans granted during the year 57,892,210 45,474,013 Repayments made during the year (48,632,480) (46,632,103)

9,259,730 (1,158,090) Balance at the end of the year 22,299,943 13,040,213

11. OPERATING FIXED ASSETS

Capital work-in-progress 11.1 2,924,670 4,059,879 Property and equipment 11.2 31,679,912 26,581,153 Intangible assets 11.3 977,176 989,342

35,581,758 31,630,374

11.1 Capital work-in-progress

Civil works 2,454,913 3,610,623 Equipment 421,205 372,154 Software 48,380 74,530 Advances to suppliers and contractors 172 2,572

2,924,670 4,059,879

In terms of sub-section (3) of Section 33A of the Banking Companies Ordinance, 1962, the statement in respect of writtenoff loans or any other financial relief of five hundred thousand rupees or above allowed to a person during the year endedDecember 31, 2016 is given in Annexure 'B' to the unconsolidated financial statements. This includes amounts charged offwithout prejudice to the Bank's right to recovery.

------- (Rupees in '000) -------

------- (Rupees in '000) -------

23


11.2 Property and equipment

Cost / Revaluation Accumulated Depreciation

Owned

Freehold land 5,062,242 - - 5,025,317 - - - - 5,025,317 -

(36,925) -

Leasehold land 15,675,141 565,799 (2) 16,240,938 1,339 - (2) 1,337 16,239,601 -

- -

Buildings on 862,552 - - 862,552 43,018 43,128 - 86,146 776,406 5

freehold land - -

Buildings on 1,505,242 3,360,721 (15) 4,865,948 69,121 77,254 (5) 146,370 4,719,578 2.5 - 5

leasehold land - -

Leasehold 2,893,387 428,113 1,755 3,323,255 1,727,172 289,543 (2,454) 2,014,261 1,308,994 10 - 20

Improvements - -

Furniture and 1,327,593 244,206 (3,941) 1,558,198 929,834 97,006 (3,801) 1,013,634 544,564 10 - 25

fixtures (9,660) (9,405)

Electrical, office 8,684,198 2,048,837 (19,987) 10,644,148 6,857,266 1,025,849 3,490 7,818,559 2,825,589 10 - 33.33

and computer (68,900) (68,046)

equipment

Vehicles 498,057 122,615 (1,908) 540,563 299,509 74,327 (2,960) 300,700 239,863 20 - 25

(78,201) (70,176)

2016 36,508,412 6,770,291 (24,098) 43,060,919 9,927,259 1,607,107 (5,732) 11,381,007 31,679,912

(193,686) (147,627)

Cost / Revaluation Accumulated Depreciation

Owned

Freehold land 5,062,242 - - 5,062,242 - - - - 5,062,242 -

- -

Leasehold land 14,538,651 1,136,427 63 15,675,141 1,285 - 54 1,339 15,673,802 -

- -

Buildings on 849,365 13,187 - 862,552 - 43,018 - 43,018 819,534 5

freehold land - -

Buildings on 1,267,097 237,670 475 1,505,242 2,612 66,387 122 69,121 1,436,121 5

leasehold land - -

Leasehold 2,685,375 211,699 27,809 2,893,387 1,456,863 270,629 22,819 1,727,172 1,166,215 10 - 20

Improvements (31,496) (23,139)

Furniture and 1,250,714 71,685 9,731 1,327,593 830,523 95,383 8,286 929,834 397,759 10 - 25

fixtures (4,537) (4,358)

Electrical, office 7,747,921 956,948 70,498 8,684,198 5,898,079 979,157 60,528 6,857,266 1,826,932 20 - 33.33

and computer (91,169) (80,498)

equipment

Vehicles 439,260 101,954 2,916 498,057 264,248 67,300 3,178 299,509 198,548 20 - 25

(46,073) (35,217)

2015 33,840,625 2,729,570 111,492 36,508,412 8,453,610 1,521,874 94,987 9,927,259 26,581,153

(173,275) (143,212)

Annual

rate of

deprec-

iation %

Net book value

at December 31,

2015

Annual

rate of

deprec-

iation %

At January 1, 2015Additions /

(deletions)

Exchange /

Other

adjustments

At December

31, 2015

At January 1,

2015

Charge for the

year /

(depreciation

on deletions)

Exchange /

Other

adjustments

At December

31, 2015

2016

2015

---------------------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------------------

---------------------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------------------

At January 1, 2016Additions /

(deletions)

Exchange /

Other

adjustments

At December

31, 2016

At January 1,

2016

Charge for the

year /

(depreciation

on deletions)

Exchange /

Other

adjustments

At December

31, 2016

Net book value

at December 31,

2016

24


11.3 Intangible assets

Software 3,724,219 292,320 (2,072) 4,011,668 2,734,877 314,870 (13,327) 3,034,492 977,176 10 - 33.33

(2,799) (1,928)

Software 3,571,906 123,722 28,606 3,724,219 2,336,466 386,494 11,932 2,734,877 989,342 10 - 33.33

(15) (15)

11.4 Revaluation of properties

2016 2015

Freehold land 745,657 782,581 Leasehold land 1,898,434 1,332,635 Buildings on freehold land 184,043 196,817 Buildings on leasehold land 3,816,412 485,725

11.5 Carrying amount of temporarily idle property of the Bank 81,790 81,790

11.6 The cost of fully depreciated assets still in use

Furniture and fixtures 356,574 291,812 Electrical, office and computer equipment 6,715,554 4,153,542 Vehicles 137,171 96,519 Leasehold improvements 256,080 113,346

7,465,379 4,655,219

11.7 Details of disposal of operating fixed assets

The properties of the Bank were last revalued by independent professional valuers as at December 31, 2014. Therevaluation was carried out by M/s. Pirsons Chemicals Engineering (Private) Limited, M/s. Sadruddin Associates, M/s.Engineering Pakistan International (Private) Limited and M/s. Indus Surveyors (Private) Limited on the basis ofprofessional assessment of present market values and resulted in an increase in surplus by Rs. 5,146.820 million. Thetotal surplus arising against revaluation of fixed assets as at December 31, 2016 amounts to Rs. 20,116.356 million. Hadthere been no revaluation, the carrying amount of the revalued assets at December 31 would have been as follows:

The information relating to operating fixed assets disposed off during the year is given in Annexure 'C' and is an integralpart of these unconsolidated financial statements.

------- (Rupees in '000) -------

---------------------------------------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------------------------------------

Cost Accumulated Amortization

2016

Cost Accumulated Amortization

2015

---------------------------------------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------------------------------------

At January

1, 2016

Additions /

(deletions)

Exchange /

other

adjustments

At

December

31, 2016

Annual rate of

amortisation %At January

1, 2016

Charge for

the year /

(reversal on

deletion)

Exchange /

other

adjustments

At December

31, 2016

Net book value

at December 31,

2016

Net book value

at December 31,

2015

Annual rate of

amortisation %At January

1, 2015

Additions /

(deletions)

Exchange /

other

adjustments

At December

31, 2015

At January

1, 2015

Charge for

the year /

(reversal on

deletion)

Exchange /

other

adjustments

At December

31, 2015

25


Note 2016 2015

12. OTHER ASSETS

Income / mark-up accrued in local currency 23,806,234 26,247,445 Income / mark-up accrued in foreign currency 5,724,754 5,079,320

29,530,988 31,326,765

Advance taxation - net of provision for taxation 12.1 10,781,770 6,271,969 Receivable from staff retirement fund 376,634 211,687 Receivable on account of encashment of savings certificates 9,425 - Receivable in respect of derivative transactions 18,033 18,033 Receivable from other banks against telegraphic transfers and demand drafts 758,923 470,784 Unrealized gain on forward foreign exchange contracts 564,223 543,988 Rebate receivable - net 893,968 904,140 Unrealized gain on derivative financial instruments 18.3.1 & 22.2 204,498 312,868 Suspense accounts 409,513 360,637 Stationery and stamps on hand 117,189 196,170 Non banking assets acquired in satisfaction of claims 2,343,457 2,289,115 Advances, deposits, advance rent and other prepayments 1,024,436 862,720 Others 2,516,480 2,179,535

49,549,537 45,948,411

Provision held against other assets 12.2 (4,818,584) (4,825,077) Other assets - net of provisions 44,730,953 41,123,334

12.1

The tax authorities have also carried out monitoring for Federal Excise Duty, Sales tax and withholding taxes coveringperiod from year ended 2007 to 2014. Consequently various addbacks and demands were raised creating a total demandof Rs. 1,245 million. The Bank has filed appeals against all such demands and is confident that these would be decided inthe favor of the Bank.

The tax returns for overseas branches have been filed upto the year ended December 31, 2015 under the provisions of thelaws prevailing in the respective countries, and are deemed as assessed unless opened for reassessment.

------- (Rupees in '000) -------

The Income Tax returns of the Bank have been filed up to the tax year 2016 (accounting year ended December 31, 2015)and were deemed to be assessed under section 120 of the Income Tax Ordinance, 2001 (Ordinance) unless amended bythe Commissioner of Inland Revenue.

The income tax authorities have issued amended assessment orders for the tax years 2003 to 2016, and created additionaltax demands of Rs.13,723 million (including disallowances of provisions made prior to Seventh Schedule), which have been fully paid as required under the law. The Bank has filed appeals before the various appellate forums against theseamendments. Where the appellate authorities have allowed relief on certain issues, the assessing authorities have filedappeals before higher appellate forums. Where the appellate authorities have not allowed relief the Bank has filed appealsbefore higher appellate forums. The management of the Bank is confident that the appeals will be decided in favor of theBank.

Under the Seventh Schedule to the Ordinance, banks are allowed to claim provisions against advances up to 5% of totaladvances for consumer and small and medium enterprises and up to 1% of total advances for remaining advances.Amounts above these limits are allowed to be claimed in future years. The Bank has booked a deferred tax asset of nil(December 31, 2015: Rs.1,140 million) in respect of provisions in excess of the above mentioned limits.

The tax returns for Azad Kashmir (AK) Branches have been filed upto the tax year 2016 (financial year 2015) under theprovisions of section 120(1) read with section 114 of the Ordinance and in compliance with the terms of the agreementbetween banks and the Azad Kashmir Council in May 2005. The returns filed are considered as deemed assessmentorders under the law.

26


Note 2016 201512.2 Provision against other assets

Opening balance 4,825,077 4,469,635 Exchange adjustments (4,888) 123,800

Charge / (reversals)Charge for the year 161,419 61,934 Reversals (17,511) (71,183)

28 143,908 (9,249) Transfers in - net 817,630 546,615 Amounts written off (963,143) (305,724) Closing balance 4,818,584 4,825,077

13. CONTINGENT ASSETS

There were no contingent assets as at the statement of financial position date.

14. BILLS PAYABLE

In Pakistan 11,041,529 10,846,814 Outside Pakistan 714,893 2,544,925

11,756,422 13,391,739

15. BORROWINGS

In Pakistan 181,622,033 150,679,861 Outside Pakistan 19,927,586 12,452,086

201,549,619 163,131,947

15.1 Particulars of borrowings


201,549,619 163,131,947

15.2 Details of borrowings

SecuredBorrowings from the State Bank of Pakistan under:

Export refinance scheme 15.3 14,702,567 14,426,586 Refinance facility for modernization of SME 15.4 19,550 29,961 Long term financing facility 15.5 11,955,687 7,174,502 Long term financing under export oriented projects 15.6 - 31,355

26,677,804 21,662,404 Repurchase agreement borrowings 15.7 153,643,464 122,771,194

180,321,268 144,433,598 Unsecured Call borrowings 15.8 14,188,048 4,180,379 Overdrawn nostro accounts 300,765 1,280,324 Other borrowings 15.9 6,739,538 13,237,646

21,228,351 18,698,349

201,549,619 163,131,947

------- (Rupees in '000) -------

27


15.3

15.4

15.5

15.6

15.7

15.8

15.9

2016 201516. DEPOSITS AND OTHER ACCOUNTS

CustomersFixed deposits 283,620,672 261,180,733 Savings deposits 370,630,580 357,773,892 Sundry deposits 22,515,064 8,228,428 Margin deposits 4,226,027 5,599,068 Current accounts - remunerative 10,398,987 8,892,225 Current accounts - non-remunerative 420,335,909 358,292,967

1,111,727,239 999,967,313

Financial InstitutionsRemunerative deposits 57,467,411 38,739,562 Non-remunerative deposits 10,692,398 12,528,295

68,159,809 51,267,857 1,179,887,048 1,051,235,170

16.1 Particulars of deposits and other accounts


1,179,887,048 1,051,235,170

The Bank has entered into an agreement with the SBP for extending export finance to customers. As per the terms of theagreement, the Bank has granted the SBP the right to recover the outstanding amounts from the Bank at the date ofmaturity of the finances by directly debiting the Bank's current account maintained with the SBP. These borrowings arerepayable within six months, latest by June 2017 . These carry mark-up at a rate of 3.0% per annum (2015: 3.50% perannum).

These borrowings have been obtained from the SBP under a scheme to finance modernization of Small and MediumEnterprises by providing financing facilities for setting up of new units, purchase of new plant and machinery for Balancing,Modernization and Replacement (BMR) of existing units and financing for import / local purchase of new generators upto amaximum capacity of 500 KVA. These borrowings are repayable within a period ranging from 3 years to 10 years, latest byOctober 2019 and carry mark-up at a rate of 6.25% per annum (2015: 6.25% per annum).

------- (Rupees in '000) -------

These borrowings have been obtained from the SBP for providing financing facilities for import of machinery, plant,equipment and accessories thereof by export oriented units.

These borrowings have been obtained from the SBP for providing financing facilities to exporters for adoption of newtechnologies and modernization of their plant and machinery. These borrowings are repayable within a period ranging from3 years to 10 years, latest by December 2026. These carry mark-up at rates ranging from 2.00% to 10.90 % per annum(2015: 2.00% to 10.10% per annum).

These repurchase agreement borrowings are secured against Pakistan Investment Bonds and Treasury Bills and carrymark-up at rates ranging from 5.50% to 5.90% per annum (2015: 6.00% to 6.50% per annum). These borrowings arerepayable latest by January 2017. The carrying value of securities given as collateral against these borrowings is given innote 9.1.

These are unsecured borrowings carrying mark-up at rates ranging from 0.25% to 5.85% per annum (2015: 0.47% to6.25% per annum), and are repayable latest by April 2017.

These borrowings carry mark-up at rates ranging from 2.00% to 4.74% per annum (2015: 0.47% to 4.55% per annum), andare repayable latest by September 2017.

28


Note 2016 2015

17. DEFERRED TAX LIABILITY - NET

Deferred tax liability - net 17.1 4,691,544 4,186,406

17.1 Movement in temporary differences during the year

2016

Deductible temporary differences on- Workers' Welfare Fund 529,704 89,081 - 618,785 - Provision against off-balance sheet items, post retirement employee benefits, advances and others 5,108,105 (1,154,539) 41,543 3,995,109

5,637,809 (1,065,458) 41,543 4,613,894

Taxable temporary differences on- Surplus on revaluation of fixed assets / non-

banking assets (550,593) 27,126 (59,422) (582,889) - Surplus on revaluation of investments (8,951,959) - 799,135 (8,152,824) - Accelerated tax depreciation (321,663) (248,062) - (569,725)

(9,824,215) (220,936) 739,713 (9,305,438)

(4,186,406) (1,286,394) 781,256 (4,691,544)

2015

Deductible temporary differences on- Workers' Welfare Fund 233,777 295,927 - 529,704 - Provision against off-balance sheet items, post retirement employee benefits, advances and others 4,931,648 (43,707) 220,164 5,108,105

5,165,425 252,220 220,164 5,637,809

Taxable temporary differences on- Surplus on revaluation of fixed assets / non-

banking assets (577,601) 27,129 (121) (550,593) - Surplus on revaluation of investments (6,048,898) - (2,903,061) (8,951,959) - Accelerated tax depreciation (438,271) 116,608 - (321,663)

(7,064,770) 143,737 (2,903,182) (9,824,215)

(1,899,345) 395,957 (2,683,018) (4,186,406)

At January 1, 2015

------------------------------ (Rupees in '000) ------------------------------

Others At December 31, 2015

------- (Rupees in '000) -------

At January 1, 2016

Recognised in profit and loss account

Others At December 31, 2016

------------------------------ (Rupees in '000) ------------------------------

Recognised in profit and loss account

29


Note 2016 2015

18. OTHER LIABILITIES

Mark-up / return / interest payable in local currency 11,559,480 10,718,527 Mark-up / return / interest payable in foreign currency 1,378,004 709,235

12,937,484 11,427,762

Accrued expenses 4,590,522 5,295,097 Branch adjustment account 1,366,415 283,016 Payable against purchase of securities 6 325,854 Payable under severance scheme 32,563 32,563 Deferred income 658,882 821,882 Unearned commission and income on bills discounted 754,235 846,008 Provision against off - balance sheet obligations 18.1 676,021 657,129 Unrealized loss on forward foreign exchange contracts 941,293 624,592 Payable to staff retirement fund 35.4 - 149,951 Deferred liabilities 18.2 3,401,628 3,113,900 Unrealized loss on derivative financial instruments 18.3.1 & 22.2 2,630 75,254 Workers' Welfare Fund payable 1,767,957 1,513,438 Insurance payable against consumer assets 241,621 218,634 Dividend payable 196,626 538,966 Others 311,646 646,060

27,879,529 26,570,106

18.1 Provision against off - balance sheet obligations

Opening balance 657,129 649,102 Exchange adjustments (8,189) 1,748 Charge during the year 28 27,081 6,279

676,021 657,129

18.2 Deferred liabilities

Provision for post retirement medical benefits 35.4 1,328,199 1,188,710 Provision for compensated absences 1,438,941 1,354,253 Deferred liability for outsourced services 181,344 133,592 Deferred liability - overseas 453,144 437,345

3,401,628 3,113,900

18.3 Unrealized gain / (loss) on derivative financial instruments - net

Note2016 2015 2016 2015

- Interest rate swaps 6,986,094 10,462,192 197,083 235,546 - Cross currency swaps 522,051 508,129 5,459 (5,459) - FX options 426,162 740,146 - - - Forward purchase contracts of government securities 4,998,400 - (2,391) - - Forward sale contracts of government securities 3,553,866 10,483,779 1,717 7,527

18.3.1 16,486,573 22,194,246 201,868 237,614

Unrealized gain / (loss)Contract / notional amount

-------------------------- (Rupees in '000) --------------------------

------- (Rupees in '000) -------

30


Note 2016 2015

18.3.1 Unrealized gain / (loss) on derivative financial instruments - net

Unrealized gain on derivative financial instruments 12 204,498 312,868 Unrealized loss on derivative financial instruments 18 (2,630) (75,254)

22.2 201,868 237,614 19. SHARE CAPITAL

19.1 Authorized Capital

2016 2015

2,000,000,000 2,000,000,000 Ordinary shares of Rs.10 each 20,000,000 20,000,000

19.2 Issued, subscribed and paid-up capital

2016 2015

Fully paid-up ordinary shares of Rs.10 each518,000,000 518,000,000 Issued for cash 5,180,000 5,180,000 706,179,687 706,179,687 Issued as bonus shares 7,061,798 7,061,798

1,224,179,687 1,224,179,687 12,241,798 12,241,798

19.3

19.4 Major shareholders (holding more than 5% of total paid-up capital)

Number of Percentage of Number of Percentage ofName of shareholder shares held shareholding shares held shareholding

Bestway (Holdings) Limited 631,728,895 51.60% 631,728,895 51.60%Bestway Cement Limited 93,649,774 7.65% 93,649,744 7.65%

2016 201519.5 Shares of the Bank held by its associates

UBL Asset Allocation Fund 114,200 115,000 UBL Stock Advantage Fund 1,153,000 490,300

1,267,200 605,300

------- (Rupees in '000) -------

------- (Number of shares) -------

(Number of shares)

(Number of shares)

2015

In 2007, the Bank was admitted to the official list of the UK Listing Authority and to the London Stock ExchangeProfessional Securities Market for trading of Global Depository Receipts (GDRs), each representing four ordinary sharesissued by the Bank. The GDRs constitute an offering in the United States only to qualified institutional buyers in reliance onRule 144A under the U.S Securities Act of 1933 and an offering outside the United States in reliance on Regulation S.

Holders of GDRs are entitled, subject to the provisions of the depository agreement, to receive dividends, if any, and rankpari passu with other equity shareholders in respect of such entitlement. However, the holders of GDRs have no votingrights or other direct rights of shareholders with respect to the ordinary shares underlying such GDRs. Subject to the termsand restrictions set out in the offering circular dated June 25, 2007, the deposited ordinary shares in respect of which theGDRs were issued may be withdrawn by the GDR holders from the depository facility. Upon withdrawal, the holders willrank pari passu with other ordinary shareholders in respect of voting powers. As at December 31, 2016, 1,845,734 (2015:1,255,264) GDRs, representing 7,382,938 (2015: 5,021,054) shares were in issue.

2016

As at December 31, 2016, Bestway Group (Bestway) held 61.46% (2015: 61.46%) shareholding (including GDRs) of theBank.

31


Note 2016 2015

20. SURPLUS ON REVALUATION OF ASSETS - NET OF DEFERRED TAX

Surplus arising on revaluation of assets - net of tax

Fixed assets / non-banking assets 20.1 19,703,328 19,643,348 Available for sale securities 20.2 15,140,960 16,625,066

34,844,288 36,268,414 20.1 Surplus on revaluation of fixed assets / non-banking assets

Surplus on revaluation of fixed assets / non-banking assets as at January 1 20,193,941 20,271,107

Revaluation of non-banking assets during the year 169,861 - Exchange adjustments (82) 346 Transferred to unappropriated profit in respect of incremental

depreciation charged during the year - net of deferred tax (50,377) (50,383) Related deferred tax liability on incremental depreciation charged

during the year 17.1 (27,126) (27,129) 92,276 (77,166)

20,286,217 20,193,941 Less: Related deferred tax liability on

Revaluation as at January 1 550,593 577,601 Revaluation of non-banking assets during the year 59,451 - Exchange adjustments (29) 121 Incremental depreciation charged on related assets (27,126) (27,129)

17.1 582,889 550,593

19,703,328 19,643,348 20.2 Surplus / (deficit) on revaluation of available for sale securities

Market Treasury Bills (9,729) 9,099 Pakistan Investment Bonds 14,625,102 19,041,613 Listed shares 7,432,229 6,090,141 REIT Investment (5,420) (11,256) Term Finance Certificates, Sukuks, other bonds etc. 104,054 18,406 Foreign bonds 1,147,548 429,022

23,293,784 25,577,025 Related deferred tax liability 17.1 (8,152,824) (8,951,959)

15,140,960 16,625,066 21. CONTINGENCIES AND COMMITMENTS

21.1 Direct credit substitutes

Contingent liabilities in respect of guarantees given favouring

Government 10,418,980 11,938,559 Banking companies and other financial institutions 1,277,955 2,418,267 Others 6,148,339 2,650,778

17,845,274 17,007,604 21.2 Transaction-related contingent liabilities

Contingent liabilities in respect of performance bonds, bid bonds, warranties, etc. given favouring

Government 114,871,452 109,734,826 Banking companies and other financial institutions 7,068,771 7,892,097 Others 38,178,662 29,405,978

160,118,885 147,032,901

------- (Rupees in '000) -------

32


2016 201521.3 Trade-related contingent liabilities

Contingent liabilities in respect of letters of credit opened favouring

Government 63,290,127 52,048,254 Others 104,922,885 87,060,071

168,213,012 139,108,325 21.4 Other contingencies

21.4.1 Claims against the Bank not acknowledged as debts 12,381,804 12,302,822

21.4.2

21.4.3

21.5 Commitments to extend credit

2016 201521.6 Commitments in respect of forward foreign exchange contracts

Purchase 186,835,721 211,486,719

Sale 162,987,703 197,523,023

21.7 Commitments in respect of derivatives

Interest rate swaps 6,986,094 10,462,192 Cross currency swaps 522,051 508,129 FX options - purchased 213,081 370,073 FX options - sold 213,081 370,073 Forward purchase of government securities 4,998,400 - Forward sale of government securities 3,553,866 10,483,779

21.8 Commitments in respect of capital expenditure 2,755,836 2,411,095

21.9 For contingencies relating to taxation refer note 12.1

------- (Rupees in '000) -------

The Bank makes commitments to extend credit in the normal course of its business but these being revocablecommitments do not attract any significant penalty or expense if the facility is unilaterally withdrawn.

------- (Rupees in '000) -------

These mainly represent counter claims filed by the borrowers for restricting the Bank from disposal of assets (such asmortgaged / pledged assets kept as security).

Based on legal advice and / or internal assessments, management is confident that the matters will be decided in theBank's favour and the possibility of any outcome against the Bank is remote and accordingly no provision has been madein these financial statements.

During the period penalties amounting to Rs. 4.058 billion have been levied by the FE Adjudication Court of the State Bankof Pakistan relating to alleged contraventions of the requirements of foreign exchange regulations with respect to issuanceand certification of E-Forms by the Bank to certain customers (Exporters) who failed to submit the export documentstheregainst, consequently Foreign Exchange on account of Export Proceeds have not been repatriated. The Bankmaintains that it fully discharged its liability, in accordance with the law and has filed a civil suit in the High Court of Sindhchallenging the levy of the penalty. The High Court has granted a stay on action being taken against the Bank. Themanagement, based on the advice from legal counsel, is confident that the view of the Bank will prevail and the Bank willnot be exposed to any loss on this account.

United Bank Limited Yemen (UBL) issued two Standby Letters of Credit (SBLCs) for USD 12 million (Rs. 1,255.194 million)and USD 13 million (Rs. 1,359.793 million) in favor of Ministry of Oil and Minerals, Yemen (MOM) against the counterSBLCs of a foreign bank. In March 2015, counter party to performance agreement notified MOM of suspension of SBLCsbecause of force majeure. In September 2015, MOM filed a law suit against UBL at the Preliminary Commercial Court inSana’a claiming the payment of both SBLCs for the sum of USD 25 million (Rs. 2,614.988 million).

UBL management is pursuing the matter in the court in Yemen which was adjourned in last few hearings due to non-appearance of legal counsel of MOM and non-submission of responses by the MOM. The case is still in court schedulehowever no summon is received for next hearing.

Based on the legal advice of the Bank's legal counsel in Yemen and in view of facts surrounding the matter, managementis of the view that it is unlikely that there will be any financial impact on the Bank.

33


22. DERIVATIVE INSTRUMENTS

With regard to derivatives, the RMC is authorized to:

-

- Review the Derivatives Business Policy and recommend approval to the BRCC / BoD.

- Review and approve derivatives product programs.

- Authorize changes in procedures and processes regarding derivatives and structured products.

Derivatives risk management

Credit risk

Market risk

Liquidity risk

Derivatives transactions, usually being non-funded in nature, do not carry a specific funding liquidity risk.

Credit risk refers to the risk of non-performance or default by a party to a derivatives transaction, resulting in an adverseimpact on the Bank’s profitability. Credit risk associated with derivatives transactions is categorized into settlement risk andpre-settlement risk. Credit proposals for derivatives transactions are approved by the Credit Committee. The creditexposure of each counterparty is estimated and monitored against approved counterparty limits by TMO on a daily basis.

The liquidity risk arises from the fact that in Pakistan, interest rate derivatives generally have a uni-directional demand, andno perfect hedge is available. The Bank mitigates its risk by limiting the portfolio in terms of tenor, notional and sensitivitylimits, and can also hedge its risk by taking on and off balance sheet positions in the interbank market, where available.

The Bank, as a policy, hedges back-to-back all Options transactions. In addition, the Bank does not carry any exchangerisk on its Cross Currency Swaps portfolio as it hedges the exposure in the interbank market. To manage the interest raterisk of Interest Rate Derivatives, the Bank has implemented various limits which are monitored and reported by TMO on adaily basis.

There are a number of risks undertaken by the Bank, which need to be monitored and assessed.

Review the derivatives business with reference to market risk exposure and assign various limits in accordance withthe risk appetite of the Bank.

Overall responsibility for derivatives trading activity lies with the Treasury and Capital Markets Group. Measurement andmonitoring of market and credit risk exposure and limits and its reporting to senior management and the BoD is done byTreasury Middle Office (TMO), which also coordinates with the business regarding approvals for derivatives risk limits.Treasury Operations records derivatives activity in the Bank’s books, and handles its reporting to the SBP.

Derivatives are a type of financial contract, the value of which is determined by reference to one or more underlying assetsor indices. The major categories of such contracts include forwards, futures, swaps and options. Derivatives also includestructured financial products that have one or more of the characteristics of forwards, futures, swaps and options.

The Bank, as an Authorized Derivative Dealer (ADD), is an active participant in the Pakistan derivatives market and offersa wide variety of derivatives products covering both hedging and market making to satisfy customers’ needs. Whererequired, specific approval is sought from the SBP for each transaction.

The authority for approving policies lies with the Board of Directors (BoD) and the Board Risk and Compliance Committee(BRCC). The Risk Management Committee (RMC) is responsible for ensuring compliance with these policies.

34


Operational risk

22.1 Product analysis

(Rupees in

'000)

(Rupees in

'000)

(Rupees in

'000)

(Rupees in

'000)

(Rupees in

'000)

(Rupees in

'000)

With banks for

Hedging 2 669,047 - - 4 213,081 - - - - 882,128

Market making 1 34,866 1 522,051 - - 1 4,998,400 2 3,553,866 9,109,183

3 703,913 1 522,051 4 213,081 1 4,998,400 2 3,553,866 9,991,311

With other entities

Market making 5 6,282,181 - - 4 213,081 - - - - 6,495,262

Total

Hedging 2 669,047 - - 4 213,081 - - - - 882,128

Market making 6 6,317,047 1 522,051 4 213,081 1 4,998,400 2 3,553,866 15,604,445

8 6,986,094 1 522,051 8 426,162 1 4,998,400 2 3,553,866 16,486,573

(Rupees in

'000)

(Rupees in

'000)

(Rupees in

'000)

(Rupees in

'000)

(Rupees in

'000)

(Rupees in

'000)

With banks for

Hedging 3 1,432,971 - - 9 370,073 - - - - 1,803,044

Market making 1 104,741 1 508,129 - - - - 4 10,483,779 11,096,649

4 1,537,712 1 508,129 9 370,073 - - 4 10,483,779 12,899,693

With other entities

Market making 5 8,924,480 - - 9 370,073 - - - - 9,294,553

Total

Hedging 3 1,432,971 - - 9 370,073 - - - - 1,803,044

Market making 6 9,029,221 1 508,129 9 370,073 - - 4 10,483,779 20,391,202

9 10,462,192 1 508,129 18 740,146 - - 4 10,483,779 22,194,246

Interest rate swaps Cross currency swaps FX options

Forward purchase

contracts of

government securities

Number of

contracts

Notional

principal

Number of

contracts

Notional

principal

Number of

contracts

2016

2015

Total

Notional

Interest rate swaps Cross currency swaps FX options

Forward purchase

contracts of

government securities

Forward sale contracts

of government

securities

Notional

principal

Number of

contracts

Notional

principal

Number of

contracts

Notional

principal

The staff involved in the trading, settlement and risk management of derivatives is carefully trained to deal with thecomplexities involved in the process. Adequate systems and controls are in place to carry out derivatives transactionssmoothly. Each transaction is processed in accordance with the product program or a transaction memo, which containsdetailed guidance on the accounting and operational aspects of the transaction to further mitigate operational risk. Inaddition, TMO and the Compliance and Control Department are assigned the responsibility of monitoring any deviationfrom policies and procedures. The Bank’s Audit and Inspection Group also reviews this function, with a regular review ofsystems, transactional processes, accounting practices and end-user roles and responsibilities.

The Bank uses FX and Derivatives module of Treasury System which provides an end-to-end valuation solution, supportsthe routine transactional process and provides analytical tools to measure various risk exposures, carry out stress tests and sensitivity analysis.

TMO produces various reports on a periodic basis which are reviewed by senior management. These reports providedetails of the derivatives business profile such as outstanding positions, profitability, risk exposures and the status ofcompliance with limits.

Forward sale contracts

of government

securitiesTotal

Notional

Number of

contracts

Notional

principal

Number of

contracts

Notional

principal

Number of

contracts

Notional

principal

Number of

contracts

Notional

principal

Number of

contracts

Notional

principal

35


22.2 Maturity analysis of derivatives

(Loss) Gain Net

Upto 1 month 7 8,765,347 (2,391) 1,717 (674) 1 to 3 months 5 735,133 - 5,459 5,459 3 to 6 months 2 69,732 (239) 251 12 6 months to 1 year - - - - - 1 to 2 years 3 648,000 - 46,347 46,347 2 to 3 Years 3 6,268,361 150,724 150,724 3 to 5 years - - - - - 5 to 10 years - - - - - Above 10 years - - - - -

20 16,486,573 (2,630) 204,498 201,868

(Loss) Gain Net

Upto 1 month 14 11,084,676 - 7,527 7,527 1 to 3 months 8 139,248 - - - 3 to 6 months - - - - - 6 months to 1 year - - - - - 1 to 2 years 3 717,612 (7,130) 1,745 (5,385) 2 to 3 years 4 1,550,250 (47,479) 111,247 63,768 3 to 5 years 3 8,702,460 (20,645) 192,349 171,704 5 to 10 years - - - - - Above 10 years - - - - -

32 22,194,246 (75,254) 312,868 237,614

2016 201523. MARK-UP / RETURN / INTEREST EARNED

On loans and advances to customers 30,394,552 33,802,408

On lendings to financial institutionsCall money lending 172,303 92,239 Securities purchased under resale agreements 138,814 381,388 Bai Muajjal with other financial institutions 47,028 - Other lendings to financial institutions 900,222 706,021

1,258,367 1,179,648

On investments inHeld for trading securities 1,073,887 1,337,918 Available for sale securities 35,049,733 34,014,329 Held to maturity securities 30,182,480 23,832,460

66,306,100 59,184,707 On deposits with financial institutions 260,195 186,168

98,219,214 94,352,931 24. MARK-UP / RETURN / INTEREST EXPENSED

On deposits 29,136,354 29,704,829 On securities sold under repurchase agreements 10,197,470 6,110,958 On other short term borrowings 1,443,153 2,205,735 On long term borrowings 399,709 489,639

41,176,686 38,511,161

2016

No. of contracts

Notional principal

Unrealized

------- (Rupees in '000) -------

------------------------------------- (Rupees in '000) ----------------------------------

------------------------------------- (Rupees in '000) ----------------------------------

UnrealizedRemaining maturity

Remaining maturity

No. of contracts

Notional principal

2015

36


Note 2016 201525. GAIN ON SALE OF SECURITIES - NET

Federal government securities Market Treasury Bills 11,461 217,680 Pakistan Investment Bonds 3,507,471 1,269,086

3,518,932 1,486,766 Ordinary shares of listed companies 1,054,440 790,743 Other securities 791,091 950,812

5,364,463 3,228,321 26. OTHER INCOME

Charges recovered 450,214 376,582 Rent on properties 211,306 183,924 Income from dealing in derivatives 93,351 287,860 Gain on sale of operating fixed assets - net 44,273 19,023 Gain on sale of Ijarah assets 44,685 863 Income from sale of non-banking asset 26.1 20,574 - Gain on trading liabilities - net 95,701 202,192

960,104 1,070,444

26.1. The Bank earned an income of Rs. 20.574 million against sale of following non-banking assets.

Agricultural open land situated in Lahore 6,375 - Commercial open plot situated in Faisalabad 14,199 -

20,574 -

27. ADMINISTRATIVE EXPENSES

Salaries, allowances etc. 27.1 11,370,646 10,620,614 Charge for compensated absences 315,084 268,505 Medical expenses 608,785 551,587 Contribution to defined contribution plan 237,496 206,999 (Reversal) / charge in respect of defined benefit obligations (78,584) 365,741 Rent, taxes, insurance, electricity etc. 4,203,455 3,983,602 Depreciation on operating fixed assets 11.2 1,607,107 1,521,874 Depreciation on Islamic financing against leased assets (Ijarah) 44.4 205,186 225,424 Amortization 11.3 314,870 386,494 Outsourced service charges including sales commission 4,565,397 4,320,118 Communications 1,094,953 1,148,316 Banking service charges 1,113,498 1,001,228 Cash transportation charges 647,034 577,320 Stationery and printing 669,106 592,182 Legal and professional charges 410,827 423,528 Advertisement and publicity 703,838 822,640 Repairs and maintenance 1,416,833 1,606,577 Travelling 254,657 279,207 Office running expense 776,296 636,050 Vehicle expense 184,210 178,478 Entertainment 237,801 224,844 Cartage, freight and conveyance 96,569 92,720 Insurance expense 111,267 108,484 Auditors' remuneration 27.2 71,798 52,508 Training and seminars 116,008 211,009 Brokerage expenses 18,441 30,592 Subscriptions 89,555 77,784 Donations 27.3 86,933 167,368 Non-executive Directors' fees 41,963 45,412 Zakat paid by overseas branch 283,971 137,561 Miscellaneous expenses 128,598 31,393

31,903,598 30,896,159

------- (Rupees in '000) -------

37


27.1

27.2 Auditors' remunerationKPMG Taseer A. F. Ferguson Overseas Total

Hadi & Co. & Co. Auditors

Audit fee 7,668 7,668 27,953 43,289 Fee for audit of EPZ branch 250 - - 250 Fee for tax and other certifications 7,075 5,562 9,322 21,959 Out of pocket expenses 3,429 2,566 305 6,300

18,422 15,796 37,580 71,798

KPMG Taseer A. F. Ferguson Overseas TotalHadi & Co. & Co. Auditors

Audit fee 7,527 7,527 22,181 42,226 Fee for audit of EPZ branch 250 - - 250 Fee for tax and other certifications 4,006 318 4,318 4,324 Out of pocket expenses 3,351 2,337 693 5,708

15,134 10,182 27,192 52,508

2016 201527.3 Details of donations

Donations individually exceeding Rs.0.1 millionNamal Education Foundation 50,000 2,400 Lahore University of Management Sciences 10,000 10,000 Forman Christian College 5,000 75,000 Shalamar Hospital 5,000 5,000 Indus Earth Trust 4,943 4,943 Abdul Sattar Edhi Foundation 4,600 800 Bahauddin Zakaria University 3,840 - SOS Children's Villages of Pakistan 980 980 Marie Adelaide Leprosy Centre 850 850 The Citizens Foundation 500 1,650 Shaukat Khanum Memorial Hospital 500 - The Kidney Center Post Graduate Training Institute 300 200 Old Associates of Kinnaird Society Karachi 250 200 Rotary Club of Karachi Metropolitan 150 - Institute of Business Administration - 40,000 Sindh Institute of Urology and Transplant - 10,000 Gulab Devi Chest Hospital - 10,000 Hisaar Foundation - 1,000 Aga Khan Hospital and Medical College - 1,000 Balochistan University of Engineering and Technology - 1,000 Inner Wheel Club Pakistan - 600 Family Welfare Maternity & General Hospital - 500 Oxford and Cambridge Society - 210 Karwan-e-Hayat - 200 Pakistan Foundation Fighting Blindness - 200 Subh-e-Nau - 200 Pakistan Parkinson's Society - 165 Old Grammarian Society Trust - 125

Donations individually not exceeding Rs.0.1 million 20 145 86,933 167,368

27.3.1

This includes accrual of employee benefits in the form of awards / bonus to all permanent staff including the ChiefExecutive Officer and is determined on the basis of employees' evaluation and the Bank's performance during the year.The aggregate benefit determined in respect of all permanent staff amounted to Rs. 1,531.067 million (2015: Rs.1,323.540 million).

------- (Rupees in '000) -------

Donations were not made to any donee in which a Director or his spouse had any interest.

------------------------------------------- (Rupees in '000) -------------------------------------------

2016

--------------------------------- (Rupees in '000) ---------------------------------

2015

38


Note 2016 201528. OTHER PROVISIONS - NET

Provision charge / (reversal) against other assets - net 12.2 143,908 (9,249) Provision against off - balance sheet obligations 18.1 27,081 6,279 Other provisions 89,859 82,387

260,848 79,417

29. WORKERS' WELFARE FUND

2016 2015

30. OTHER CHARGES

Penalties imposed by the SBP 69,082 200,989 Other penalties 731 1,114

69,813 202,103

31. TAXATION 2016Domestic Azad Kashmir Overseas Total

Current 12,996,987 414,484 1,487,238 14,898,709 Prior years 1,700,687 - 399,694 2,100,381 Deferred 1,245,524 6,476 34,394 1,286,394

15,943,198 420,960 1,921,326 18,285,484

2015Domestic Azad Kashmir Overseas Total

Current 13,072,098 397,822 1,573,032 15,042,952 Prior years 1,625,905 - 174,636 1,800,541 Deferred (209,184) (2,882) (183,891) (395,957)

14,488,819 394,940 1,563,777 16,447,536

2016 2015

31.1 Relationship between tax expense and accounting profit

Accounting profit for the year 46,015,596 42,174,685

Tax on income @ 35% (2015: 35%) 16,105,459 14,761,140 Tax effect of items that are either not included in determining taxable

profit or taxed at reduced rates (permanent differences) 24,435 70,211 Tax - prior years (net of deferred tax) 2,116,858 1,625,956 Others 38,732 (9,771) Tax charge 18,285,484 16,447,536

------- (Rupees in '000) -------

------- (Rupees in '000) -------

-------------------------------- (Rupees in '000) ------------------------------

-------------------------------- (Rupees in '000) ------------------------------

Under the Workers' Welfare Ordinance, 1971, the Bank has accrued Workers' Welfare Fund at 2% of profit before tax asper the financial statements or declared income as per the income tax return, whichever is higher.

The Bank has made full provision for Workers Welfare Fund based on profit for the respective years.

During the current year, the Supreme Court of Pakistan vide its order dated November 10, 2016 has held that theamendments made in the law introduced by the Federal Government for the levy of Workers Welfare Fund were not lawful.The Federal Board of Revenue has filed review petitions against this order which are currently pending.

Legal advice obtained on the matter indicates that consequent to filing of these review petitions the judgment may notcurrently be treated as conclusive. Accordingly, the Bank maintains its provision in respect of WWF.

------- (Rupees in '000) -------

39


2016 201532. EARNINGS PER SHARE

Profit after taxation for the year 27,730,112 25,727,149

Weighted average number of ordinary shares 1,224,179,687 1,224,179,687

Earnings per share - basic and diluted 22.65 21.02

32.1

Note 2016 201533. CASH AND CASH EQUIVALENTS

Cash and balances with treasury banks 6 131,506,861 112,011,276 Balances with other banks 7 14,920,994 16,859,118

146,427,855 128,870,394

34. STAFF STRENGTH

Permanent 9,735 10,026 On contract 39 39 Bank's own staff strength 9,774 10,065 Outsourced 4,379 4,558 Total 14,153 14,623

35. DEFINED BENEFIT PLANS

35.1 General description

35.2 Number of Employees under the scheme

The number of employees covered under the following defined benefit schemes are:2016 2015

- Pension fund 6,829 6,974 - Gratuity fund 7,984 8,137 - Benevolent fund 4,386 4,914 - Post retirement medical benefit scheme 9,839 10,062

35.3 Principal actuarial assumptions

The actuarial valuations were carried out as at December 31, 2016 using the following significant assumptions:

2016 2015

Discount rate / expected rate of return on plan assets 8.00% 9.00%Expected rate of salary increase 6.00% 7.00%Expected rate of increase in pension 2.00% 1.25%Expected rate of increase in medical benefit 2.00% 1.25%

---------- Per annum ----------

------------ (Number) ------------

The pension fund, benevolent fund and post retirement medical benefit schemes include 5,499 (2015: 5,505), 2,214 (2015:2,436) and 5,172 (2015: 5,224 ) members respectively who have retired or whose widows are receiving the benefits.

------- (Rupees in '000) -------

------------ (Number) ------------

The Bank operates a funded pension scheme established in 1986. The Bank also operates a funded gratuity scheme fornew employees and for those employees who have not opted for the pension scheme. The Bank also operates abenevolent fund scheme and provides post retirement medical benefits to eligible retired employees. The benevolent fundscheme and the post-retirement medical scheme cover all regular employees of the Bank who joined the Bank pre-privatization. The liabilities of the Bank in respect of these schemes are determined based on actuarial valuations carriedout using the Projected Unit Credit Method. Actuarial valuations of the defined benefit schemes are carried out every yearand the latest valuation was carried out as at December 31, 2016.

---------- (Rupees) ----------

------- (Number of shares) -------

------- (Rupees in '000) -------

Diluted earnings per share has not been presented separately as the Bank does not have any convertible instruments inissue at December 31, 2016 or 2015.

40


35.4 Reconciliation of (receivable from) / payable to defined benefit plans

Note

Present value of obligations 2,932,255 652,457 453,193 1,328,199 3,034,259 625,414 466,964 1,188,710Fair value of plan assets (3,077,541) (711,805) (501,671) - (2,884,308) (652,318) (899,017) - (Receivable) / payable (145,286) (59,348) (48,478) 1,328,199 149,951 (26,904) (432,053) 1,188,710

35.5 Movement in defined benefit obligations

Obligations at the beginning of the year 3,034,259 625,414 466,964 1,188,710 3,049,641 605,383 454,377 1,084,100Current service cost 8,518 108,203 7,691 4,211 12,437 95,350 7,794 3,954Interest cost 130,399 56,784 38,786 107,169 124,973 63,517 43,290 114,033Benefits paid by the Bank (507,085) (111,140) (70,819) (128,259) (643,151) (148,667) (79,465) (132,206)Return allocated to other funds 35.8.1 148,998 - - - 177,770 - - - Re-measurement loss / (gain) 117,166 (26,804) 10,571 156,368 312,589 9,831 40,968 118,829Obligations at the end of the year 2,932,255 652,457 453,193 1,328,199 3,034,259 625,414 466,964 1,188,710

35.6 Movement in fair value of plan assets

Fair value at the beginning of the year 2,884,308 652,318 899,017 - 2,971,469 630,905 876,741 - Interest income on plan assets 266,470 59,104 77,332 - 294,934 66,067 87,239 - Contribution by the Bank 332,855 111,594 2,814 - 108,044 93,214 3,182 - Contribution by the employees - - 2,814 - - - 3,182 - Amount paid by the fund to the Bank (522,251) (133,843) (496,542) - (493,913) (140,631) (73,203) - Re-measurements: Net return on plan assets

over interest income gain / (loss) 116,159 22,632 16,236 - 3,774 2,763 1,876 - Fair value at the end of the year 3,077,541 711,805 501,671 - 2,884,308 652,318 899,017 -

35.7 Movement in (receivable) / payableunder defined benefit schemes

Opening balance 149,951 (26,904) (432,053) 1,188,710 78,172 (25,522) (422,364) 1,084,100Mark-up receivable on Bank's balance with the fund (4,193) (492) (475) - (2,726) (826) (394) - Charge / (reversal) for the year 21,445 105,883 (33,669) 111,380 20,246 92,800 (39,337) 117,987Contribution by the Bank (332,855) (111,594) (2,814) - (108,044) (93,214) (3,182) - Amount paid by the Fund to the Bank 522,251 133,843 496,542 - 493,913 140,631 73,203 - Re-measurement loss / (gain) recognised in OCI

during the year 5,200 (48,944) (5,190) 156,368 311,541 7,894 39,486 118,829Benefits paid by the Bank (507,085) (111,140) (70,819) (128,259) (643,151) (148,667) (79,465) (132,206)Closing balance (145,286) (59,348) (48,478) 1,328,199 149,951 (26,904) (432,053) 1,188,710

35.8 Charge for defined benefit plans

35.8.1 Cost recognised in profit and loss

Current service cost 8,518 108,203 4,877 4,211 12,437 95,350 4,612 3,954Net interest on defined benefit asset / liability (136,071) (2,320) (38,546) 107,169 (169,961) (2,550) (43,949) 114,033Return allocated to other funds 35.8.1.1 148,998 - - - 177,770 - - - Employees' contribution - - - - - - - -

21,445 105,883 (33,669) 111,380 20,246 92,800 (39,337) 117,987

35.8.1.1

35.8.1.2

35.8.2 Re-measurements recognised in OCI during the year

Loss / (gain) on obligation- Financial assumptions 140,079 (3,922) 9,445 182,530 15,491 (3,807) 36,042 215,496- Experience adjustment (22,913) (22,882) 1,126 (26,162) 297,098 13,638 4,926 (96,667)

Return on plan assets over interest income (116,159) (22,632) (16,236) - (3,774) (2,763) (1,876) - Adjustment for markup 4,193 492 475 - 2,726 826 394 - Total re-measurements recognised in OCI 5,200 (48,944) (5,190) 156,368 311,541 7,894 39,486 118,829

2016 2015

------------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------------

Pension fund

Gratuity fund

Benevolent fund

Post retirement

medical benefit

Pension fund

Gratuity fund

Benevolent fund

Post retirement

medical benefit

This represents return allocated to those employees who exercised the conversion option offered in the year 2001, as referred to in note5.9.1.

2016 2015

------------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------------

Pension fund

Gratuity fund

Benevolent fund

Post retirement

medical benefit

Pension fund

Gratuity fund

Benevolent fund

Post retirement

medical benefit

In addition, resulting from a change in the terms of the Trust, a surplus in the Benevolent fund of Rs. 432.053 million, relating to prior years has been reconginized as credit in the Profit and loss account during the year.

41


35.9 Components of plan assets

Pension fund

Gratuity fund

Benevolent fund

Pension fund

Gratuity fund

Benevolent fund

Cash and cash equivalents - net of current liabilities 13,559 2,767 1,688 224 190 182

Quoted securitiesOrdinary shares 169,105 10,407 23,704 109,681 5,688 15,374 Term finance certificates 81,013 6,239 10,619 93,539 10,214 14,552

Pakistan Investment Bonds 1,414,882 398,146 192,283 1,444,613 388,920 628,466 Special Savings Certificates 1,398,982 281,346 273,377 1,236,234 247,288 240,423 Other - 12,900 - 17 18 20

3,077,541 711,805 501,671 2,884,308 652,318 899,017

35.9.1

35.10 Sensitivity analysis

Pension fund

Gratuity fund

Benevolent fund

Post retire-ment

medical benefit

Increase in Discount Rate by 1 % (83,707) (42,458) (18,150) (118,362) Decrease in Discount Rate by 1 % 95,185 48,416 20,258 133,739 Increase in expected future increment in salary by 1% - 52,200 - - Decrease in expected future increment in salary by 1% - (46,472) - - Increase in expected future increment in pension by 1% 84,923 - - - Decrease in expected future increment in pension by 1% (75,179) - - - Increase in expected future increment in medical benefit by 1% - - - 23,149 Decrease in expected future increment in medical benefit by 1% - - - (26,485)

35.11 Expected contributions to be paid to the funds in the next financial year

Pension fund

Gratuity fund

Benevolent fund

Post retire-ment

medical benefit

Expected contribution - 102,352 292 -

Expected (reversal) / charge for the year (2,988) 102,352 292 115,743

2015

Sensitivity analysis has been performed by varying one assumption keeping all other assumptions constant and calculatingthe impact on the present value of the defined benefit obligations under the various employee benefit schemes. Theincrease / (decrease) in the present value of defined benefit obligations as a result of change in each assumption issummarized below:

2016

Although the analysis does not take account of the full distribution of expected cash flows, it does provide an approximationof the sensitivity of the assumptions shown.

2017

2016

The Bank contributes to the pension and gratuity funds according to the actuary's advice. Contribution to the benevolentfund is made by the Bank as per the rates set out in the benevolent fund scheme. Based on actuarial advice, managementestimates that the expected contribution and charge / (reversal) for the year ending December 31, 2017, would be asfollows:

------------------------------- (Rupees in '000) ---------------------------

-------------------------------------------- (Rupees in '000) --------------------------------------------

------------------------------ (Rupees in '000) -----------------------

The funds primarily invests in government securities and accordingly do not carry any significant credit risk. These aresubject to interest rate risk based on market movements. Investment in term finance certificates are subject to credit riskand interest rate risks, while equity securities are subject to price risk. These risks are regularly monitored by Trustees ofthe employee funds.

42


35.12 Maturity profilePension

fundGratuity

fundBenevolent

fundPost retire-

ment medical benefit

The weighted average duration of the obligation (in years) 6.27 6.93 4.45 9.49

35.13 Funding Policy

36. OTHER EMPLOYEE BENEFITS

36.1 Defined contribution plan

36.2 Employee Motivation and Retention Scheme

37. COMPENSATION OF DIRECTORS AND EXECUTIVES

2016 2015 2016 2015 2016 2015

Fees - - 41,963 45,412 - - Managerial remuneration 129,907 108,871 - - 4,793,916 4,422,414 Charge for defined benefit plans 1,638 1,402 - - 449,837 344,950 Charge for defined contribution plan 3,630 3,300 - - 109,310 97,643 Rent and house maintenance 4,191 4,583 - - 678,631 613,897 Utilities 1,407 1,545 - - 330,939 293,893 Medical - 46 - - 151,684 132,944 Conveyance - - - - 449,304 368,488 Others 3,394 7,558 - - 269,351 232,275

144,167 127,305 41,963 45,412 7,232,972 6,506,504

Number of persons 1 1 8 8 1,794 1,745

The Bank's President / Chief Executive Officer and certain Executives are provided with use of Bank maintained cars andhousehold equipment.

2016

The Bank endeavours to ensure that liabilities under the various employee benefit schemes are covered by the Fund onany valuation date having regards to the various actuarial assumptions such as projected future salary increase, expectedfuture contributions to the fund, projected increase in liability associated with future service and the projected investmentincome of the Fund.

The Bank operates a contributory provident fund scheme for 7,981 (2015: 8,137) employees who are not in the pensionscheme. The employer and employee each contribute 8.33% of the basic salary to the funded scheme every month.

The Bank has a long term motivation and retention scheme for its employees. The liability of the Bank in respect of thescheme for each year, if any, is fixed, and is accounted for in the year to which the scheme relates. The scheme ismanaged by separate Trusts formed in respect of each year. During the year, Rs. 38.748 million (2015: Rs. 68.928 million)and Rs. 1.437 million (2015: Rs. 2.256 million) were received by the Executives and the Chief Executive respectively fromthe scheme. No new Trust was set up during the current year.

President / Chief Executive Officer

Directors Executives

---------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------

In addition to the above, all Executives including the Chief Executive Officer of the Bank, are also entitled to certain shortand long term employee benefits which are disclosed in note 36.2 to these unconsolidated financial statements.

43


38. FAIR VALUE OF FINANCIAL INSTRUMENTS

38.1

Level 1: Fair value measurements using quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 1 Level 2 Level 3 TotalOn balance sheet financial instruments ----------------------------------------------(Rupees in '000)-----------------------------------Financial assets measured at fair value- Investments

Government Securities (Tbills, PIBs, GoP Sukuks and Eurobonds) 398,870,094 - 398,870,094 - 398,870,094

Foreign Bonds - Sovereign 19,399,674 - 19,399,674 - 19,399,674Foreign Bonds - others 9,799,161 - 9,799,161 - 9,799,161Ordinary shares of listed companies 22,220,669 22,220,669 - - 22,220,669Debt securities (TFCs) 562,722 - 562,722 - 562,722Investment in REIT 453,170 453,170 - - 453,170

Financial assets not measured at fair value- Cash and bank balances with treasury banks 131,506,861 - - - - - Balances with other banks 14,920,994 - - - - - Lending to financial institutions 34,168,287 - - - - - Advances 510,110,924 - - - - - Other assets 28,770,658 - - - - - Investments (HTM, unlisted ordinary shares,

preference shares, subsidiaries and associates) 355,225,756 - - - - 1,526,008,970 22,673,839 428,631,651 - 451,305,490

Financial liabilities not measured at fair value- Bills Payable 11,756,422 - - - - - Borrowings 201,549,619 - - - - - Deposits and other accounts 1,179,887,048 - - - - - Other liabilities 22,147,747 - - - -

1,415,340,836 - - - - Off balance sheet financial instrumentsForward purchase and sale of foreign exchange contracts 349,823,424 - (377,070) - (377,070) Interest rate swaps 6,986,094 - 197,083 - 197,083 Cross currency swaps 522,051 - 5,459 - 5,459 FX options - purchased and sold (net) 426,162 - - - - Forward purchase of government securities 4,998,400 - (2,391) - (2,391) Forward sale of government securities 3,553,866 - 1,717 - 1,717

The fair value of quoted securities other than those classified as held to maturity, is based on quoted market price. Quotedsecurities classified as held to maturity are carried at cost. The fair value of unquoted equity securities, other thaninvestments in associates and subsidiaries, is determined on the basis of the break-up value of these investments as pertheir latest available audited financial statements.

The Bank measures fair values using the following fair value hierarchy that reflects the significance of the inputs used inmaking the measurements:

The table below analyses financial instruments measured at the end of the reporting period by the level in the fair valuehierarchy into which the fair value measurement is categorised:

Carrying / Notional value

The fair value of unquoted debt securities, fixed term loans, other assets, other liabilities, fixed term deposits andborrowings cannot be calculated with sufficient reliability due to the absence of a current and active market for these assetsand liabilities and reliable data regarding market rates for similar instruments.

In the opinion of the management, the fair value of the remaining financial assets and liabilities are not significantly differentfrom their carrying values since these are either short-term in nature or, in the case of customer loans and deposits, arefrequently repriced.

Level 2: Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for theassets or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Fair value

Level 3: Fair value measurements using input for the asset or liability that are not based on observable market data (i.e.unobservable inputs).

2016

44


Level 1 Level 2 Level 3 TotalOn balance sheet financial instruments ----------------------------------------------(Rupees in '000)-----------------------------------Financial assets measured at fair value- Investments

Government Securities (Tbills, PIBs, GoP Sukuks and Eurobonds) 375,011,154 - 375,011,154 - 375,011,154

Foreign Bonds - Sovereign 16,760,429 - 16,760,429 - 16,760,429 Foreign Bonds - others 11,200,099 - 11,200,099 - 11,200,099 Ordinary shares of listed companies 24,602,947 24,602,947 - - 24,602,947 Debt securities (TFCs) 1,291,952 - 1,291,952 - 1,291,952 Investment in REIT 447,334 447,334 - - 447,334

Financial assets not measured at fair value- Cash and bank balances with treasury banks 112,011,276 - - - - - Balances with other banks 16,859,118 - - - - - Lending to financial institutions 24,094,768 - - - - - Advances 455,413,880 - - - - - Other assets 30,778,317 - - - - - Investments (HTM, unlisted ordinary shares,

preference shares, subsidiaries and associates) 290,204,178 - - - - 1,358,675,452 25,050,281 404,263,634 - 429,313,915

Financial liabilities not measured at fair value- Bills Payable 13,391,739 - - - - - Borrowings 163,131,947 - - - - - Deposits and other accounts 1,051,235,170 - - - - - Other liabilities 21,263,607 - - - -

1,249,022,463 - - - - Off balance sheet financial instrumentsForward purchase and sale of foreign exchange contracts 409,009,742 - (80,604) - (80,604) Interest rate swaps 10,462,192 - 235,546 - 235,546 Cross currency swaps 508,129 - (5,459) - (5,459) FX options - purchased and sold (net) 740,146 - - - - Forward purchase of government securities - - - - - Forward sale of government securities 10,483,779 - 7,527 - 7,527

38.2

38.3 Valuation techniques used in determination of fair values within level 2 and level 3.

Debt Securities

Derivatives

The fair valuation techniques include forward pricing and swap models using present value calculations.

Operating fixed assets and non-banking assets acquired in satisfaction of claims

Certain categories of operating fixed assets (land and buildings) and non-banking assets acquired in satisfactions of claimsare carried at revalued amounts (level 3 measurement) determined by professional valuers based on their assessment ofthe market values as disclosed in note 11 and note 12 respectively.

Carrying / Notional value

The fair value of Federal Government securities is determined using the prices / rates available on Mutual FundsAssociation of Pakistan (MUFAP) and the fair value of other corporate and foreign government securites is determinedusing the rates from Reuters / Bloomberg

Land, buildings and non-banking assets acquired in satisfaction of claims are revalued on a periodic basis usingprofessional valuers. The valuation is based on their assessment of the market value of the assets. The effect of changes in the unobservable inputs used in the valuations cannot be determined with certainity, accordingly a qualitative disclosure ofsensitivity has not been presented in these unconsolidated financial statements.

2015Fair value

45


39. SEGMENT DETAILS WITH RESPECT TO BUSINESS ACTIVITIES

Total income 687,888 34,151,640 30,148,323 13,257,465 2,405,854 - Total expenses 98,333 1,875,185 26,603,042 5,659,441 399,573 - Profit before tax 589,555 32,276,455 3,545,281 7,598,024 2,006,281 - Segment return on assets (ROA) 101.1% 2.3% 0.2% 1.0% - - Segment cost of funds 0.0% 4.6% 2.6% 4.0% - -

Total income 581,214 27,621,195 33,920,457 13,113,734 2,592,177 - Total expenses 130,802 1,638,334 25,742,429 6,433,026 1,709,501 - Profit before tax 450,412 25,982,861 8,178,028 6,680,708 882,676 - Segment return on assets (ROA) 108.2% 2.3% 0.7% 1.0% - - Segment cost of funds 0.0% 5.4% 3.2% 4.7% - -

Segment assets (gross of NPLs provisions) 1,121,938 892,875,447 1,082,965,053 511,304,109 114,463,896 (987,782,808)Segment non performing loans (NPLs) 674,671 1,603,361 10,364,636 31,859,524 64,792 - Segment provision held against NPLs 507,379 1,584,978 8,476,832 26,790,721 36,702 - Segment liabilities 233,008 855,174,842 1,072,484,615 480,003,978 5,650,527 (987,782,808)

Segment assets (gross of NPLs provisions) 933,876 807,644,718 982,527,691 441,691,268 103,599,829 (898,210,505)Segment non performing loans (NPLs) 675,575 1,866,135 13,644,606 30,415,533 231,383 - Segment provision held against NPLs 508,071 1,846,111 10,666,275 24,439,842 75,735 - Segment liabilities 133,013 772,279,203 966,764,107 412,445,535 5,104,015 (898,210,505)

Segment assets and liabilities include inter segment balances.

Transactions between reportable segments are based on an appropriate transfer pricing mechanism using agreed rates.

40. TRUST ACTIVITIES

41. RELATED PARTY TRANSACTIONS

For the year ended December 31, 2016

The Bank is not engaged in any significant trust activities. However, it acts as custodian for some of the Term FinanceCertificates it arranges and distributes on behalf of its customers.

-------------------------------------------------------- (Rupees in '000) --------------------------------------------------------

For the year ended December 31, 2015

-------------------------------------------------------- (Rupees in '000) --------------------------------------------------------

Retail banking Commercial banking Others Inter segment

elimination

Corporate finance

Trading and sales Retail banking Commercial

banking Others Inter segment elimination

Corporate finance

As at December 31, 2016

-------------------------------------------------------- (Rupees in '000) --------------------------------------------------------

As at December 31, 2015

-------------------------------------------------------- (Rupees in '000) --------------------------------------------------------

The Bank enters into transactions with related parties in the normal course of business. Contributions to and accruals inrespect of staff retirement benefits and other benefit plans are made in accordance with the actuarial valuations / terms ofthe contribution plan. Remuneration to the executives / officers is determined in accordance with the terms of theirappointment.

The Bank has related party transactions with its associates, subsidiary companies, employee benefit plans and its Directorsand executive officers (including their associates).

Corporate finance

Trading and sales

Details of transactions with related parties during the year, other than those which have been disclosed elsewhere in theseunconsolidated financial statements, are as follows:

Corporate finance





46


41.1 RELATED PARTY TRANSACTIONS

Balances with other banks

In current accounts - - 1,462,437 - - - - 1,284,195 - -

In deposit accounts - - 1,648,597 - - - - 971,092 - -

- - 3,111,034 - - - - 2,255,287 - -

Lendings to financial institutions - - 571,712 375,000 - - - 663,914 400,000 -

Investments

Opening balance - - 4,897,174 6,914,292 3,895,328 - - 4,897,174 7,769,602 3,895,328

Investment made during the year - - - 484,690 - - - - 2,903,287 -

Investment redeemed / disposed off during the year - - - (1,680,000) - - - - (3,758,597) -

Closing balance - - 4,897,174 5,718,982 3,895,328 - - 4,897,174 6,914,292 3,895,328

Provision for diminution in value of investments - - - - 114,844 - - - - 114,844

Advances

Opening balance 706 96,464 - 2,155,149 7,907,012 368 106,148 - 2,155,149 9,394,005

Addition during the year 18,822 62,900 - - 59,472,461 4,181 78,736 - - 44,320,432

Repaid during the year (17,189) (88,936) - - (50,471,781) (3,843) (59,342) - - (45,807,425)

Transfer in / (out) - net - 23,714 - - - - (29,078) - - -

Closing balance 2,339 94,142 - 2,155,149 16,907,692 706 96,464 - 2,155,149 7,907,012

Provision held against advances - - - 2,155,149 - - - - 2,155,149 -

Other Assets

Interest mark-up accrued 7 67 1,989 4,144 235,602 - 56 9,686 8,187 91,419

Receivable from staff retirement fund - - - - 376,634 - - - - 211,687

Prepaid insurance - - - 5,206 - - - - - -

Other receivable - - 10,018 - 30,164 - - 9,447 - 30,164

Provision against other assets - - - - 30,164 - - - - 30,164

Borrowings

Opening balance - - 1,248,164 - - - - 1,230,900 - -

Borrowings during the year - - 2,814,871 - 167,100 - - 5,428,932 - -

Settled during the year - - (3,599,613) - - - - (5,411,668) - -

Closing balance - - 463,422 - 167,100 - - 1,248,164 - -

Deposits and other accounts

Opening balance 7,934,549 52,522 336,192 6,655,457 1,822,423 7,920,019 126,853 272,133 2,498,946 204,907

Received during the year 25,536,998 1,255,187 25,753,279 129,962,337 114,808,246 22,932,144 957,707 31,556,608 130,028,293 140,642,028

Withdrawn during the year (24,805,179) (1,143,273) (25,793,906) (127,735,572) (115,386,860) (22,917,614) (944,999) (31,492,549) (125,871,782) (139,317,293)

Transfer (out) / in - net - (4,490) - - 360 - (87,039) - - 292,781

Closing balance 8,666,368 159,946 295,565 8,882,222 1,244,169 7,934,549 52,522 336,192 6,655,457 1,822,423

Other Liabilities

Interest / mark-up payable on deposits 86,513 34 401 29,777 4,374 46,187 49 71 4,621 2,362

Interest / mark-up payable on borrowings - - 23,085 - 80 - - 3,170 - -

Payable to staff retirement fund - - - - - - - - - 149,951

Unearned income - - 205 - 10,420 - - 187 - 10,420

Contingencies and Commitments

Letter of guarantee - - 242,281 23,574 - - - 284,215 43,362 -

Forward foreign exchange contracts purchase - - 6,083,795 - 198,737 - - 9,096,355 - 27,061

Forward foreign exchange contracts sale - - 6,225,246 - 203,148 - - 9,309,591 - 412,487

Cross Currency Swap - - - 522,051 - - - - 508,129 -

Mark-up / return / interest earned 10 5,186 40,496 28,098 501,888 9 4,086 41,462 41,322 808,387

Commission / charges recovered 242 533 460 13,885 11,159 115 360 579 10,573 10,217

Dividend income - - 693,423 296,728 791,303 - - 406,404 448,340 821,962

Net gain on sale of securities - - - 470,389 - - - - 618,948 -

Other income - 2,621 83,862 6,461 12,514 - 5,488 41,304 10,571 2,102

Mark-up / return / interest paid 218,848 1,266 14,573 255,670 34,176 218,089 1,397 44,988 270,688 35,720

Remuneration paid - 702,909 - - - - 479,235 - - -

Post employment benefits - 23,266 - - - - 17,157 - - -

Non-executive directors' fee 41,963 - - - - 45,412 - - - -

Net charge for defined contribution plans - - - - 237,496 - - - - 206,999

Net (reversal) / charge for defined benefit plans - - - - (338,394) - - - - 116,220

Other expenses - - - 55,621 120,737 - - 1,320 47,210 127,335

Insurance premium paid - - - 239,187 - - - - 247,140 -

Insurance claims settled - - - 112,467 - - - - 132,181 -

------------------------------------------------------------------------------- (Rupees in '000) -------------------------------------------------------------------------------

2016 2015

------------------------------------------------------------------------------- (Rupees in '000) -------------------------------------------------------------------------------

2016 2015

Directors

Key

management

personnel

Subsidiaries AssociatesOther related

parties

Directors

Key

management

personnel


partiesDirectors

Key

management

personnel


parties

Other related

partiesDirectors

Key

management

personnel

Subsidiaries Associates

47


42. CAPITAL ADEQUACY

42.1.

42.2 Capital Management

Statutory minimum capital and capital adequacy requirements

Tier 1 capital comprises of Common Equity Tier 1 (CET 1) and Additional Tier 1 (AT 1) capital.

AT 1 capital includes instruments meeting the prescribed SBP criteria e.g. perpetual non-cumulative preference shares.

The deductions from Tier 1 capital include mainly:

i) Book value of goodwill / intangibles;ii) Deficit on revaluation of available for sale investments;iii) Defined benefit pension fund assetiv) Investment in own sharesv) Reciprocal cross holdings in equity capital instruments of other banks, financial institutions and insurance companies;vi) Investment in mutual funds above a prescribed ceiling;vii) Threshold deductions applicable from 2014 on deferred tax assets and certain investments;viii)

i) Reciprocal cross holdings in other capital instruments of other banks, financial institution and insurance companies; ii)

Banks are also required to maintain a minimum Capital Adequacy Ratio (CAR) of 10.0% plus capital conservation buffer of0.65% of the risk weighted exposures of the Bank. Further, under Basel III instructions, Banks are also required to maintaina Common Equity Tier 1 (CET 1) ratio and Tier 1 ratio of 6.65% and 7.5%, respectively, as at December 31, 2016. As atDecember 31, 2016 the Bank is fully compliant with prescribed ratios as the Bank’s CAR is 15.13% whereas CET 1 andTier 1 ratios both stood at 10.87%. The Bank and its individually regulated operations have complied with all capitalrequirements throughout the year.

CET 1 capital includes fully paid-up capital, balance in share premium account, reserve for issue of bonus shares, generalreserves as per the financial statements and net unappropriated profits.

20% of investments in majority capital instruments of financial subsidiaries not consolidated in the statement offinancial position during transition phase.

Tier 2 capital includes general provisions for loan losses, surplus on the revaluation of fixed assets, fixed income financialinstruments (AFS) and equity investments (AFS), foreign exchange translation reserves and subordinated debts (meetingthe revised eligibility criteria). The deductions from Tier 2 include mainly:

20% of investments in majority owned securities of financial subsidiaries not consolidated in the statement of financialposition, during transition phase.

The SBP through its BSD Circular No. 07 dated April 15, 2009 has prescribed the minimum paid-up capital (net ofaccumulated losses) for Banks to be Rs.10,000 million. The paid-up capital of the Bank for the year ended December 31,2016 stood at Rs.12,241.798 million (2015: Rs.12,241.798 million) and is in compliance with SBP requirements.

The State Bank of Pakistan (SBP) through its BPRD Circular No. 6 dated August 15, 2013 has issued Basel III Capitalinstructions for Banks / DFIs. The revision to the previously applicable Capital Adequacy regulations pertain to componentsof eligible capital and related deductions. The amendments have been introduced with an aim to further strengthen theexisting capital related rules. Basel III instructions have become effective from December 31, 2013; however, there is atransitional phase during which the complete requirements would become applicable with full implementation by December31, 2019.

The Bank’s capital adequacy is reported using the rules and ratios provided by the State Bank of Pakistan. The capitaladequacy ratio is a measure of the amount of a Bank's capital expressed as a percentage of its risk weighted assets(RWAs). Banking operations are categorized as either Trading Book or Banking Book and RWAs are determined accordingto specific treatments as per the requirements of SBP that measure the varying levels of risk attached to on balance sheetand off-balance sheet exposures. Under the current capital adequacy regulations, credit risk and market risk exposures aremeasured using the Standardized Approach and operational risk is measured using the Basic Indicator Approach. Creditrisk mitigants are also applied against the Bank’s exposures based on eligible collateral.

The Bank performs its Internal Capital Adequacy Assessment Process (ICAAP) as per the guidelines provided by the SBP.The ICAAP has been approved by the Bank’s Board of Directors and submitted to the SBP. The Bank additionally coversrisks not yet included under Pillar I, so as to carry adequate capital to cater for any future business requirements.

The Bank plans to move towards the Advanced Approaches as prescribed under Basel Framework, including theFoundation Internal Ratings Based Approach for credit risk, Internal Models Approach for market risk and the AlternateStandardized Approach for operational risk.

The objective of managing capital is to safeguard the Bank's ability to continue as a going concern. It is the policy of theBank to maintain a strong capital base so as to maintain investor, depositor and market confidence and to sustain futuredevelopment of the business. The Bank aims to maintain an optimum level of capital along with maximizing shareholders’return as we consider a sound capital position as more appropriate as opposed to leverage supporting business growth.

48


42.3 Capital Adequacy Ratio (CAR) disclosure template:

2016 2015

Amount Amount Common Equity Tier 1 capital (CET1): Instruments and reserves

1 Fully Paid-up Capital/ Capital deposited with SBP 12,241,798 12,241,798 2 Balance in Share Premium Account - - 3 Reserve for issue of Bonus Shares - - 4 Discount on Issue of shares - - 5 General/ Statutory Reserves 27,197,615 24,424,604 6 Gain/(Losses) on derivatives held as Cash Flow Hedge - - 7 Unappropriated/unremitted profits/ (losses) 64,246,270 55,222,960 8 Minority Interests arising from CET1 capital instruments issued to third parties by consolidated bank

subsidiaries (amount allowed in CET1 capital of the consolidation group) - - 9 CET 1 before Regulatory Adjustments 103,685,683 91,889,362

10 Total regulatory adjustments applied to CET1 (Note 42.3.1) 2,607,745 4,487,079 11 Common Equity Tier 1 101,077,938 87,402,283

Additional Tier 1 (AT 1) Capital12 Qualifying Additional Tier-1 capital instruments plus any related share premium - - 13 of which: Classified as equity - - 14 of which: Classified as liabilities - - 15 Additional Tier-1 capital instruments issued to third parties by consolidated subsidiaries (amount

allowed in group AT 1) - - 16 of which: instrument issued by subsidiaries subject to phase out - - 17 AT1 before regulatory adjustments - - 18 Total regulatory adjustment applied to AT1 capital (Note 42.3.2) - - 19 Additional Tier 1 capital after regulatory adjustments - - 20 Additional Tier 1 capital recognized for capital adequacy - -

21 Tier 1 Capital (CET1 + admissible AT1) (11+20) 101,077,938 87,402,283

Tier 2 Capital24 Qualifying Tier 2 capital instruments under Basel III plus any related share premium - - 25 Tier 2 capital instruments subject to phaseout arrangement issued under pre-Basel 3 rules - - 26 Tier 2 capital instruments issued to third parties by consolidated subsidiaries (amount allowed in

group tier 2) - - 27 of which: instruments issued by subsidiaries subject to phase out - - 28 General provisions or general reserves for loan losses-up to maximum of 1.25% of Credit Risk

Weighted Assets 3,128,774 4,079,561 29 Revaluation Reserves (net of taxes) 27,092,425 24,299,837 30 of which: Revaluation reserves on fixed assets 15,282,476 13,161,043 31 of which: Unrealized gains/losses on AFS 11,809,949 11,138,794 32 Foreign Exchange Translation Reserves 13,256,890 13,977,699 33 Undisclosed/Other Reserves (if any) - - 34 T2 before regulatory adjustments 43,478,089 42,357,097 35 Total regulatory adjustment applied to T2 capital (Note 42.3.3) 1,195,328 1,792,992 36 Tier 2 capital (T2) after regulatory adjustments 42,282,761 40,564,105 37 Tier 2 capital recognized for capital adequacy 39,598,094 35,543,176 38 Portion of Additional Tier 1 capital recognized in Tier 2 capital - - 39 Total Tier 2 capital admissible for capital adequacy 39,598,094 35,543,176 40 TOTAL CAPITAL (T1 + admissible T2) (21+39) 140,676,033 122,945,459

41 Total Risk Weighted Assets (RWA) {for details refer Note 42.6} 929,617,344 839,464,747

Capital Ratios and buffers (in percentage of risk weighted assets)42 CET1 to total RWA 10.87% 10.41%43 Tier-1 capital to total RWA 10.87% 10.41%44 Total capital to total RWA 15.13% 14.65%45 Bank specific buffer requirement (minimum CET1 requirement plus capital conservation buffer plus

any other buffer requirement) 6.65% 6.25%46 of which: capital conservation buffer requirement 0.65% 0.25%47 of which: countercyclical buffer requirement - - 48 of which: D-SIB or G-SIB buffer requirement - - 49 CET1 available to meet buffers (as a percentage of risk weighted assets) 4.22% 4.16%

National minimum capital requirements prescribed by SBP50 CET1 minimum ratio 6.00% 6.00%51 Tier 1 minimum ratio 7.50% 7.50%52 Total capital minimum ratio 10.00% 10.00%

------------------------ (Rupees in '000) --------------------

49


2015 Amount Amounts

subject to Pre- Basel III

treatment*

Amount

42.3.1 Common Equity Tier 1 capital: Regulatory adjustments1 Goodwill (net of related deferred tax liability) - - 2 All other intangibles (net of any associated deferred tax liability) 949,816 923,900 3 Shortfall in provisions against classified assets 670,120 4 Deferred tax assets that rely on future profitability excluding those arising from

temporary differences (net of related tax liability)- -

5 Defined-benefit pension fund net assets 56,662 56,662 - 6 Reciprocal cross holdings in CET1 capital instruments of banking, financial and

insurance entities334,864 1,040,472

7 Cash flow hedge reserve - - 8 Investment in own shares/ CET1 instruments 14,160 - 9 Securitization gain on sale - -

10 Capital shortfall of regulated subsidiaries - - 11 Deficit on account of revaluation from bank's holdings of fixed assets/ AFS - - 12 Investments in the capital instruments of banking, financial and insurance entities

that are outside the scope of regulatory consolidation, where the bank does not own more than 10% of the issued share capital (amount above 10% threshold)

- -

13 Significant investments in the common stocks of banking, financial and insurance entities that are outside the scope of regulatory consolidation (amount above 10% threshold)

- -

14 Deferred Tax Assets arising from temporary differences (amount above 10% threshold, net of related tax liability)

- -

15 Amount exceeding 15% threshold - - 16 of which: significant investments in the common stocks of financial entities - - 17 of which: deferred tax assets arising from temporary differences - - 18 National specific regulatory adjustments applied to CET1 capital - - 19 Investments in TFCs of other banks exceeding the prescribed limit - - 20 Any other deduction specified by SBP (mention details) - - 21 Adjustment to CET1 due to insufficient AT1 and Tier 2 to cover deductions 1,252,243 1,852,587 22 Total regulatory adjustments applied to CET1 (sum of 1 to 21) 2,607,745 4,487,079

42.3.2 Additional Tier-1 : regulatory adjustments23 Investment in mutual funds exceeding the prescribed limit [SBP specific

adjustment]56,915 59,595

24 Investment in own AT1 capital instruments - - 25 Reciprocal cross holdings in Additional Tier 1 capital instruments of banking,

financial and insurance entities- -

26 Investments in the capital instruments of banking, financial and insurance entities that are outside the scope of regulatory consolidation, where the bank does not own more than 10% of the issued share capital (amount above 10% threshold)

- -

27 Significant investments in the capital instruments of banking, financial and insurance entities that are outside the scope of regulatory consolidation

- -

28 Adjustments to Additional Tier 1 due to insufficient Tier 2 to cover deductions - - 29 Portion of deduction applied 50:50 to Tier-1 and Tier-2 capital based on pre-Basel

III treatment which, during transitional period, remain subject to deduction from additional tier-1 capital

1,195,328 1,195,328 1,792,992

30 Total regulatory adjustment applied to AT1 capital (sum of 23 to 29) 1,252,243 1,852,587

2016Regulatory Adjustments and Additional Information

------------------------ (Rupees in '000) --------------------

50


2015 Amount Amounts

subject to Pre- Basel III

treatment*

Amount 2016

Regulatory Adjustments and Additional Information

------------------------ (Rupees in '000) --------------------

42.3.3 Tier 2 Capital: regulatory adjustments31 Portion of deduction applied 50:50 to Tier-1 and Tier-2 capital based on pre-Basel

III treatment which, during transitional period, remain subject to deduction from tier-2 capital

1,195,328 1,195,328 1,792,992

32 Reciprocal cross holdings in Tier 2 instruments of banking, financial and insurance entities

- -

33 Investment in own Tier 2 capital instrument - - 34 Investments in the capital instruments of banking, financial and insurance entities

that are outside the scope of regulatory consolidation, where the bank does not own more than 10% of the issued share capital (amount above 10% threshold)

- -

35 Significant investments in the capital instruments issued by banking, financial and insurance entities that are outside the scope of regulatory consolidation

- -

36 Total regulatory adjustment applied to T2 capital (sum of 31 to 35) 1,195,328 1,792,992

2016 2015

42.3.4 Additional Information Amount Amount Risk Weighted Assets subject to pre-Basel III treatment

37 Risk weighted assets in respect of deduction items (which during the transitional period will be risk weighted subject to Pre-Basel III Treatment)

- -

(i) of which: deferred tax assets - - (ii) of which: Defined-benefit pension fund net assets (iii) of which: Recognized portion of investment in capital of banking, financial

and insurance entities where holding is less than 10% of the issued common share capital of the entity

- -

(iv) of which: Recognized portion of investment in capital of banking, financial and insurance entities where holding is more than 10% of the issued common share capital of the entity

- -

Amounts below the thresholds for deduction (before risk weighting)

38 Non-significant investments in the capital of other financial entities - - 39 Significant investments in the common stock of financial entities - - 40 Deferred tax assets arising from temporary differences (net of related tax liability) - -

Applicable caps on the inclusion of provisions in Tier 241 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to

standardized approach (prior to application of cap)- -

42 Cap on inclusion of provisions in Tier 2 under standardized approach - - 43 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to internal

ratings-based approach (prior to application of cap)- -

44 Cap for inclusion of provisions in Tier 2 under internal ratings-based approach - -

------------------- Rupees in '000 --------------------

51


42.4 Capital Structure Reconciliation

Step 1

Balance Sheet as per

published financial

statements

Under regulatory scope of

consolidation

Assets

Cash and balances with treasury banks 131,506,861 131,506,861 Balances with other banks 14,920,994 14,920,994 Lending to financial institutions 34,168,287 34,168,287 Investments 806,531,246 806,531,246 Advances 510,110,924 510,110,924 Operating fixed assets 35,581,758 35,581,758 Deferred tax assets - net - - Other assets 44,730,953 44,730,953

Total assets 1,577,551,023 1,577,551,023

Liabilities & Equity

Bills payable 11,756,422 11,756,422 Borrowings 201,549,619 201,549,619 Deposits and other accounts 1,179,887,048 1,179,887,048 Sub-ordinated loans - - Liabilities against assets subject to finance lease - - Deferred tax liability - net 4,691,544 4,691,544 Other liabilities 27,879,529 27,879,529

Total liabilities 1,425,764,162 1,425,764,162

Share capital 12,241,798 12,241,798 Reserves 40,454,505 40,454,505 Unappropriated profit 64,246,270 64,246,270

Total equity 116,942,573 116,942,573

Surplus on revaluation of assets - net of deferred tax 34,844,288 34,844,288

Total liabilities and equity 1,577,551,023 1,577,551,023

--------- (Rupees in '000) ---------

As at Dec 31, 2016

52


42.4 Capital Structure (Contd.)

Step 2

Balance Sheet as per published

financial statements

Under regulatory scope of

consolidation

Reference

AssetsCash and balances with treasury banks 131,506,861 131,506,861 Balances with other banks 14,920,994 14,920,994 Lendings to financial institutions 34,168,287 34,168,287 Investments 806,531,246 806,531,246 of which: Non-significant capital investments in capital of other financial institutions

exceeding 10% threshold

- - a

of which: significant capital investments in financial sector entities exceeding

regulatory threshold

- - b

of which: Mutual Funds exceeding regulatory threshold 56,915 56,915 c of which: reciprocal crossholding of capital instrument 334,864 334,864 d of which: Investment in own shares/ CET1 instruments 14,160 14,160 eAdvances 510,110,924 510,110,924

shortfall in provisions/ excess of total EL amount over eligible provisions under

IRB

- - f

general provisions reflected in Tier 2 capital 3,128,774 3,128,774 gFixed Assets 35,581,758 35,581,758 of which: Goodwill - - j of which: Intangibles 949,816 949,816 kDeferred Tax Assets - - of which: DTAs excluding those arising from temporary differences - - h of which: DTAs arising from temporary differences exceeding regulatory threshold - - iOther assets 44,730,953 44,730,953 of which: Defined-benefit pension fund net assets 56,662 56,662 lTotal assets 1,577,551,023 1,577,551,023

Liabilities & EquityBills payable 11,756,422 11,756,422 Borrowings 201,549,619 201,549,619 Deposits and other accounts 1,179,887,048 1,179,887,048 Sub-ordinated loans - - of which: eligible for inclusion in AT1 - - m of which: eligible for inclusion in Tier 2 - - nLiabilities against assets subject to finance lease - - Deferred tax liabilities 4,691,544 4,691,544 of which: DTLs related to goodwill - - o of which: DTLs related to intangible assets - - p of which: DTLs related to defined pension fund net assets - - q of which: other deferred tax liabilities 4,691,544 4,691,544 rOther liabilities 27,879,529 27,879,529 Total liabilities 1,425,764,162 1,425,764,162

Share capital 12,241,798 12,241,798 of which: amount eligible for CET1 12,241,798 12,241,798 s of which: amount eligible for AT1 - - tReserves 40,454,505 40,454,505 of which: portion eligible for inclusion in CET1(provide breakup) 27,197,615 27,197,615 u of which: portion eligible for inclusion in Tier 2 13,256,890 13,256,890 vUnappropriated profit/ (losses) 64,246,270 64,246,270 wMinority Interest - - of which: portion eligible for inclusion in CET1 - - x of which: portion eligible for inclusion in AT1 - - y of which: portion eligible for inclusion in Tier 2 - - zSurplus on revaluation of assets 34,844,288 34,844,288 of which: Revaluation reserves on Property 19,703,328 19,703,328 aa of which: Unrealized Gains/Losses on AFS 15,140,960 15,140,960 In case of Deficit on revaluation (deduction from CET1) - - abTotal liabilities and equity 1,577,551,023 1,577,551,023

--------- (Rupees in '000) ---------

As at Dec 31, 2016

53


42.4 Capital Structure (Contd.)

Step 3 Component of regulatory capital reported by bank (Rupees in '000)

Source based on reference number

from step 2

Common Equity Tier 1 capital (CET1): Instruments and reserves

1 Fully Paid-up Capital/ Capital deposited with SBP 12,241,798 2 Balance in Share Premium Account - 3 Reserve for issue of Bonus Shares - 4 General/ Statutory Reserves 27,197,615 5 Gain/(Losses) on derivatives held as Cash Flow Hedge - 6 Unappropriated/unremitted profits/(losses) 64,246,270 (w)7 Minority Interests arising from CET1 capital instruments issued to third party by consolidated

bank subsidiaries (amount allowed in CET1 capital of the consolidation group)- (x)

8 CET 1 before Regulatory Adjustments 103,685,683

Common Equity Tier 1 capital: Regulatory adjustments

9 Goodwill (net of related deferred tax liability) - (j) - (o)10 All other intangibles (net of any associated deferred tax liability) 949,816 (k) - (p)11 Shortfall of provisions against classified assets - (f)12 Deferred tax assets that rely on future profitability excluding those arising from temporary

differences (net of related tax liability)- {(h) - (r} * x%

13 Defined-benefit pension fund net assets 56,662 {(l) - (q)} * x%14 Reciprocal cross holdings in CET1 capital instruments 334,864 (d)15 Cash flow hedge reserve - 16 Investment in own shares/ CET1 instruments 14,160 17 Securitization gain on sale - 18 Capital shortfall of regulated subsidiaries - 19 Deficit on account of revaluation from bank's holdings of property/ AFS - (ab)20 Investments in the capital instruments of banking, financial and insurance entities that are

outside the scope of regulatory consolidation, where the bank does not own more than 10% of the issued share capital (amount above 10% threshold)

- (a) - (ac) - (ae)

21 Significant investments in the capital instruments issued by banking, financial and insurance entities that are outside the scope of regulatory consolidation (amount above 10% threshold)

- (b) - (ad) - (af)

22 Deferred Tax Assets arising from temporary differences (amount above 10% threshold, net of related tax liability)

- (i)

23 Amount exceeding 15% threshold - 24 of which: significant investments in the common stocks of financial entities - 25 of which: deferred tax assets arising from temporary differences - 26 National specific regulatory adjustments applied to CET1 capital - 27 Investment in TFCs of other banks exceeding the prescribed limit - 28 Any other deduction specified by SBP (mention details) - 29 Regulatory adjustment applied to CET1 due to insufficient AT1 and Tier 2 to cover deductions 1,252,243

30 Total regulatory adjustments applied to CET1 (sum of 9 to 25) 2,607,745 Common Equity Tier 1 101,077,939

Additional Tier 1 (AT 1) Capital

31 Qualifying Additional Tier-1 instruments plus any related share premium - 32 of which: Classified as equity - (t)33 of which: Classified as liabilities - (m)34 Additional Tier-1 capital instruments issued by consolidated subsidiaries and held by third

parties (amount allowed in group AT 1)- (y)

35 of which: instrument issued by subsidiaries subject to phase out - 36 AT1 before regulatory adjustments

(s)

(u)

54


Component of regulatory capital reported by bank (Rupees in '000)

Source based on reference number

from step 2

Additional Tier 1 Capital: regulatory adjustments

37 Investment in mutual funds exceeding the prescribed limit (SBP specific adjustment) 56,915 38 Investment in own AT1 capital instruments - 39 Reciprocal cross holdings in Additional Tier 1 capital instruments - 40 Investments in the capital instruments of banking, financial and insurance entities that are


- (ac)


- (ad)

42 Portion of deduction applied 50:50 to core capital and supplementary capital based on pre-Basel III treatment which, during transitional period, remain subject to deduction from tier-1 capital

1,195,328

43 Regulatory adjustments applied to Additional Tier 1 due to insufficient Tier 2 to cover deductions

-

44 Total of Regulatory Adjustment applied to AT1 capital 1,252,243 45 Additional Tier 1 capital 46 Additional Tier 1 capital recognized for capital adequacy -

Tier 1 Capital (CET1 + admissible AT1) 101,077,939

Tier 2 Capital47 Qualifying Tier 2 capital instruments under Basel III - 48 Capital instruments subject to phase out arrangement from tier 2 (Pre-Basel III instruments) -

49 Tier 2 capital instruments issued to third party by consolidated subsidiaries (amount allowed in group tier 2)

- (z)

50 of which: instruments issued by subsidiaries subject to phase out - 51 General Provisions or general reserves for loan losses-up to maximum of 1.25% of Credit

Risk Weighted Assets3,128,774 (g)

52 Revaluation Reserves eligible for Tier 253 of which: portion pertaining to Property 15,282,476 54 of which: portion pertaining to AFS securities 11,809,949 55 Foreign Exchange Translation Reserves 13,256,890 (v)56 Undisclosed/Other Reserves (if any)57 T2 before regulatory adjustments 43,478,089

Tier 2 Capital: regulatory adjustments58 Portion of deduction applied 50:50 to core capital and supplementary capital based on pre-

Basel III treatment which, during transitional period, remain subject to deduction from tier-2 capital

1,195,328

59 Reciprocal cross holdings in Tier 2 instruments - 60 Investment in own Tier 2 capital instrument - 61 Investments in the capital instruments of banking, financial and insurance entities that are


- (ae)


- (af)

63 Amount of Regulatory Adjustment applied to T2 capital 1,195,328 64 Tier 2 capital (T2) 42,282,761 65 Tier 2 capital recognized for capital adequacy 39,598,094 66 Excess Additional Tier 1 capital recognized in Tier 2 capital - 67 Total Tier 2 capital admissible for capital adequacy 39,598,094

TOTAL CAPITAL (T1 + admissible T2) 140,676,033

(n)

portion of (aa)

55


42.5 Main Features Template of Regulatory Capital Instruments

Disclosure template for main features of regulatory capital instruments

Main Features Common Shares1 Issuer United Bank Limited

2 Unique identifier (eg PSX Symbol or Bloomberg identifier etc.) On PSX “UBL” and on Bloomberg “UBLS”.

3 Governing law(s) of the instrument Relevant Capital Market LawsRegulatory treatment

4 Transitional Basel III rules Common Equity Tier 1

5 Post-transitional Basel III rules Common Equity Tier 1

6 Eligible at solo/ group/ group&solo Group & Standalone

7 Instrument type Ordinary Shares

8 Amount recognized in regulatory capital (Currency in PKR thousands, as of reporting date) 12,241,798

9 Par value of instrument Rs 10 each

10 Accounting classification Shareholders' equity

11 Original date of issuance 1959

12 Perpetual or dated Perpetual

13 Original maturity date No maturity

14 Issuer call subject to prior supervisory approval Not applicable

15 Optional call date, contingent call dates and redemption amount Not applicable

16 Subsequent call dates, if applicable Not applicable

Coupons / dividends

17 Fixed or floating dividend/ coupon Not applicable

18 coupon rate and any related index/ benchmark Not applicable

19 Existence of a dividend stopper No

20 Fully discretionary, partially discretionary or mandatory Fully discretionary

21 Existence of step up or other incentive to redeem No

22 Noncumulative or cumulative Not applicable

23 Convertible or non-convertible Non Convertible

24 If convertible, conversion trigger (s) Not applicable

25 If convertible, fully or partially Not applicable

26 If convertible, conversion rate Not applicable

27 If convertible, mandatory or optional conversion Not applicable

28 If convertible, specify instrument type convertible into Not applicable

29 If convertible, specify issuer of instrument it converts into Not applicable

30 Write-down feature Not applicable

31 If write-down, write-down trigger(s) Not applicable

32 If write-down, full or partial Not applicable

33 If write-down, permanent or temporary Not applicable

34 If temporary write-down, description of write-up mechanism Not applicable

35 Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument

Common equity (ranks after all creditors including depositors)

36 Non-compliant transitioned features Not applicable

37 If yes, specify non-compliant features Not applicable

Set out below is the template that banks must use to ensure that the key features of all regulatory capital instruments are disclosed. Banks will be required to complete all of the cells for each outstanding regulatory capital instrument (please insert “NA” if the question is not applicable). Banks are required to report each regulatory capital instrument (including common shares) in a separate column of the template, such that the completed template would provide a "main features report" that summaries all of the regulatory capital instruments of the bank / banking group.

56


42.6 Risk Weighted Assets

2016 2015 2016 2015

Credit Risk

On-Balance sheet Sovereign 6,214,276 5,579,264 62,142,764 55,792,640 Public Sector entities 978,715 962,846 9,787,149 9,628,458 Banks 4,442,695 4,288,920 44,426,950 42,889,198 Corporate 28,300,317 24,462,772 283,003,175 244,627,719 Retail 2,128,835 2,003,566 21,288,345 20,035,660 Residential Mortgages 140,495 144,164 1,404,945 1,441,637 Past Due loans 1,239,924 1,683,933 12,399,239 16,839,328 Listed equity investments 176,922 178,666 1,769,225 1,786,656 Unlisted equity investments 12,161 21,187 121,605 211,871 Commercial Entity 55,872 55,872 558,720 558,720 Operating Fixed Assets 3,463,194 3,140,185 34,631,942 31,401,855 Significant investment 896,496 597,664 8,964,960 5,976,641 Other assets 1,443,125 896,587 14,431,245 8,965,867

49,493,027 44,015,626 494,930,264 440,156,250

Off-Balance sheet Non-market related 10,100,831 8,539,032 101,008,311 85,390,319 Market related 165,447 176,642 1,654,469 1,766,420

10,266,278 8,715,674 102,662,780 87,156,739

Market Risk

Interest rate risk 11,901,688 11,011,922 148,771,103 137,649,023 Equity position risk 3,816,538 4,152,250 47,706,729 51,903,125 Foreign Exchange risk 219,847 264,062 2,748,088 3,300,775

15,938,073 15,428,234 199,225,920 192,852,923

Operational Risk 10,623,870 9,543,907 132,798,380 119,298,833 86,321,248 77,703,440 929,617,344 839,464,745

Capital adequacy ratioTotal eligible regulatory capital held 140,676,033 122,945,459 Total risk weighted assets 929,617,344 839,464,747 CET1 to total RWA 10.8% 10.4%Tier-1 capital to total RWA 10.8% 10.4%Total capital to total RWA 15.1% 14.6%

42.7 Credit risk - General disclosures

Capital Requirements Risk Weighted Assets

------------------ (Rupees in '000) ---------------

The Bank follows the Standardized Approach for its credit risk exposures, which sets out fixed risk weights correspondingto external credit ratings or type of exposure, whichever is applicable.

Under the Standardized Approach, the capital requirement is based on the credit rating assigned to counterparties byExternal Credit Assessment Institutions (ECAIs) duly recognized by the SBP. The Bank selects particular ECAIs for eachtype of exposure. The Bank utilizes the credit ratings assigned by Pakistan Credit Rating Agency (PACRA), Japan CreditRating Company Limited – Vital Information Systems (JCR-VIS), Fitch, Moody’s and Standard & Poors (S & P). The Bankalso utilizes rating scores of Export Credit Agencies (ECAs) participating in the “Arrangement on Officially SupportedExport Credits”.

57


Types of exposure and ECAIs used

FITCH Moody's S & P PACRA JCR-VIS ECA scores

Corporates - P - P P -Banks P P P P P -Sovereigns - - - - - P

Public sector enterprises - - - P P -

Mapping to SBP Rating Grades

Long Term Rating Grades mapping

Fitch Moody’s S & P PACRA JCR-VIS ECA Scores

AAA Aaa AAA AAA AAA 0AA+ Aa1 AA+ AA+ AA+ 1AA Aa2 AA AA AAAA- Aa3 AA- AA- AA-A+ A1 A+ A+ A+ 2A A2 A A AA- A3 A- A- A-

BBB+ Baa1 BBB+ BBB+ BBB+ 3BBB Baa2 BBB BBB BBBBBB- Baa3 BBB- BBB- BBB-BB+ Ba1 BB+ BB+ BB+ 4BB Ba2 BB BB BBBB- Ba3 BB- BB- BB-B+ B1 B+ B+ B+ 5B B2 B B B 6B- B3 B- B- B-

7

Short Term Rating Grades mapping

Fitch Moody’s S & P PACRA JCR-VIS

F1 P-1 A-1+ A-1+ A-1+F1 P-1 A-1 A-1 A-1F2 P-2 A-2 A-2 A-2F3 P-3 A-3 A-3 A-3

Others Others Others Others Others

S1S1S2S3S4

CCC+ and below

CCC+ and below

CCC+ and below

SBP Rating Grade

CCC+ and below

Caa1 and below

5

6

1

For all exposures, the selected ratings are translated to the standard rating grades given by the SBP. The mappingtables used for converting ECAI ratings to SBP rating grades are given below:

SBP Rating grade

2

3

4

58


42.8 Credit exposures subject to Standardized Approach

Rating category /

risk weights

Amount outstanding

Deduction CRM Net amount Amount

outstandingDeduction

CRM Net amount

------------------------------- (Rupees in '000) -----------------------------------

Cash and cash equivalents - 18,069,390 - 18,069,390 13,072,712 - 13,072,712Claims on Federal and Provincial Governments and

SBP, denominated in PKR - 497,451,486 128,836,359 368,615,127 445,363,390 143,583,595 301,779,795Foreign currency claims on SBP arising out of statutory

obligations in Pakistan - 9,135,162 - 9,135,162 9,274,554 - 9,274,554

Claims on other sovereigns and on 1 1,121,551 - 1,121,551 14,664 - 14,664Government of Pakistan or provincial 2 27,915,202 - 27,915,202 27,730,887 - 27,730,887governments or SBP denominated in 3 3,753,370 - 3,753,370 2,006,945 - 2,006,945currencies other than PKR 4,5 11,270,408 - 11,270,408 8,228,796 - 8,228,796

6 28,941,753 - 28,941,753 27,342,796 - 27,342,796Unrated - - - - - -

73,002,284 - 73,002,284 65,324,088 - 65,324,088

Corporates 0 - - - - - - 1 57,666,917 867 57,666,050 49,560,476 9,434,735 40,125,7412 24,694,145 19,648 24,674,497 21,823,391 441,406 21,381,985

3,4 1,497,260 - 1,497,260 1,698,024 - 1,698,0245,6 - - - - - -

Unrated-1 220,747,322 27,370,889 193,376,433 192,468,105 25,043,077 167,425,028Unrated-2 116,409,462 78,875 116,330,587 98,024,261 54,003 97,970,258

421,015,106 27,470,279 393,544,827 363,574,257 34,973,221 328,601,036

1,2,3 362,206 - 362,206 1,359,453 - 1,359,4534,5 - - - 38,916 - 38,9166 84,911 - 84,911 - - -

Unrated 3,261,702 - 3,261,702 3,202,758 - 3,202,7583,708,819 - 3,708,819 4,601,127 - 4,601,127

Banks - others 0 - - - - - 1 116,701,304 60,202,146 56,499,158 40,597,344 1,865,947 38,731,397

2,3 34,671,927 - 34,671,927 36,952,086 318,883 36,633,2034,5 9,389,435 - 9,389,435 7,594,035 208,981 7,385,0546 4,345,866 - 4,345,866 6,699,805 - 6,699,805

Unrated 30,569,544 - 30,569,544 29,987,458 - 29,987,458195,678,076 60,202,146 135,475,930 121,830,728 2,393,811 119,436,917

Public sector enterprises 0 - - - - - - 1 23,912,438 12,736,928 11,175,510 22,370,042 1,666,995 20,703,047

2,3 10,690,051 5,503,637 5,186,414 - - - 4,5 - - - - - - 6 - - - - - -

Unrated 90,347,819 73,513,237 16,834,582 81,758,557 63,855,886 17,902,671124,950,308 91,753,802 33,196,506 104,128,599 65,522,881 38,605,718

Retail portfolio 75% 33,881,001 3,836,605 30,044,396 29,991,077 2,260,943 27,730,134Claims fully secured by residential mortgage 35% 4,014,129 - 4,014,129 4,118,964 - 4,118,964

37,895,130 3,836,605 34,058,525 34,110,041 2,260,943 31,849,098

Equity investments - Listed 100% 1,769,225 - 1,769,225 1,786,656 - 1,786,656 - Unlisted 150% 81,070 - 81,070 141,247 - 141,247 - Commercial Entity (Holding grater than 10%) 1000% 55,872 - 55,872 55,872 - 55,872

1,906,167 - 1,906,167 1,983,775 - 1,983,775

Past due loans secured against mortgageof residential property: - less than 20% provided 100% 24,786 - 24,786 25,075 - 25,075 - greater than 20% provided 50% 50,443 - 50,443 88,074 - 88,074

75,229 - 75,229 113,149 - 113,149

Past due loans - others - Less than 20% provided 150% 4,722,399 - 4,722,399 8,304,838 - 8,304,838 - Between 20% to 50% provided 100% 4,778,654 - 4,778,654 3,426,454 - 3,426,454 - More than 50% provided 50% 973,957 - 973,957 1,773,010 - 1,773,010

10,475,010 - 10,475,010 13,504,302 - 13,504,302

Significant investment 250% 3,585,984 - 3,585,984 2,390,656 - 2,390,656Fixed assets 100% 34,631,942 - 34,631,942 31,401,855 - 31,401,855Others 100% 14,982,412 - 14,982,412 9,688,808 - 9,688,808

1,446,562,505 312,099,191 1,134,463,314 1,220,362,041 248,734,451 971,627,590

Claims on banks with maturity less than 3 months and denominated in foreign currency

2016 2015

Exposures

59


Credit Risk: Disclosures with respect to Credit Risk Mitigation for Standardized Approach

42.9 Leverage Ratio

Leverage Ratio = Tier 1 capital (after related deductions)

2016 2015--------- (Rupees in '000) ---------

On-Balance Sheet AssetsCash and balances with treasury banks 131,506,861 112,011,276 Balances with other banks 14,920,994 16,859,118 Lendings to financial institutions 34,168,287 29,485,888 Investments 804,944,138 711,233,914 Advances 510,110,924 453,960,870 Operating fixed assets 34,631,942 31,401,854 Deferred tax assets - - Financial Derivatives (A.1) 792,340 1,242,036 Other assets 43,962,233 40,353,988 Total Assets (A) 1,575,037,719 1,396,548,944

Derivatives (On-Balance Sheet)Interest Rate 283,749 305,341 Equity - - Foreign Exchange & gold 508,591 936,695 Precious Metals (except gold) - - Commodities - - Credit Derivatives (protection brought & sold) - - Any other derivatives - - Total Derivatives (A.1) 792,340 1,242,036

No credit risk mitigation benefit is taken in the Trading Book.

The Bank has adopted the Comprehensive Approach of Credit Risk Mitigation for the Banking Book. Under thisapproach, cash, lien on deposits, government securities and eligible guarantees etc. are considered as eligiblecollateral. The Bank has in place detailed guidelines with respect to the valuation and management of each of thesetypes of collateral. Where the Bank’s exposure to an obligor is secured by eligible collateral, the Bank reduces itsexposure for the calculation of capital requirement by the realizable amount of the collateral, adjusted for any applicable

For each asset class, the risk weights as specified by the SBP or corresponding to the SBP rating grades are applied tothe net amount for the calculation of Risk Weighted Assets.

The State Bank of Pakistan (SBP) through its BPRD Circular No. 06 of 2013 has issued instructions regardingimplementation of parallel run of leverage ratio reporting and its components from December 31, 2013 to December31, 2017.During this period the final calibration, and any further adjustments to the definition, will be completed, with aview to set the leverage ratio as a separate capital standard on December 31, 2018. Banks are required to disclosethe leverage ratio from December 31, 2015.

The Basel III leverage ratio is defined as the capital measure (the numerator) divided by the exposure measure (thedenominator), with this ratio expressed as a percentage:

As at December 31, 2016 the Bank’s Leverage ratio stood at 4.85% which is well above the minimum requirement of3.0%

Total Exposure

60


2016 2015--------- (Rupees in '000) ---------

Off-Balance Sheet Items excluding derivativesDirect Credit Substitutes (i.e. Acceptances, general guarantees

for indebtness etc.) 40,243,856 30,596,505 Performance-related Contingent Liabilities (i.e. Guarantees) 110,067,510 108,443,418 Trade-related Contingent Liabilities (i.e. Letter of Credits) 145,823,726 127,144,385 Lending of securities or posting of securities as collaterals 153,557,471 122,771,194 Undrawn committed facilities (which are not cancellable) 45,085,158 19,419,745 Unconditionally cancellable commitments 9,694,433 9,900,613 Commitments in respect of operating leases - - Commitments for the acquisition of operating fixed assets 2,755,836 2,411,095 Other commitments - - Total Off-Balance Sheet Items excluding Derivatives (B) 507,227,990 420,686,955

Interest Rate 34,582 52,311 Equity - - Foreign Exchange & gold 1,791,964 2,085,773 Precious Metals (except gold) - - Commodities - - Credit Derivatives (protection sold and bought) - - Other derivatives - - Total Derivatives (C) 1,826,546 2,138,084

Tier-1 Capital 101,077,939 87,402,283Total Exposures (sum of A,B and C) 2,084,092,255 1,819,373,983 Leverage Ratio 4.85% 4.80%

43. RISK MANAGEMENT

- Determining guidelines relating to the Bank’s risk appetite.

-

-

- Developing systems and resources to review the key risk exposures of the Bank.

- Approving credits and granting approval authority to qualified and experienced individuals.

- Reviewing the adequacy of credit training across the Bank.

- Organizing portfolio reviews focusing on quality assessment, risk profiles, industry concentrations, etc.

- Setting systems to identify significant portfolio indicators, problem credits and level of provisioning required.

This section presents information about the Bank’s exposure to and its management and control of risks, in particular,the primary risks associated with its use of financial instruments such as credit, market, liquidity, and operational risks.

The Bank has an integrated risk management structure in place. The Board Risk and Compliance Committee (BRCC)oversees the entire risk management process of the Bank. Furthermore, Risk Management Committee has beenformed which looks at all risks collectively at senior management level. The committee is chaired by the President andcomprises of Heads of all Risk areas, Finance, Business etc. The Risk and Credit Policy Group is responsible for thedevelopment and implementation of all risk policies as approved by the BRCC / BoD. The group is organized into thefunctions of Market & Treasury Risk, Financial Institution Risk Management Unit (FIRMU), Credit Policy & Research,Consumer Credit Policy, Credit Risk Management and Operational Risk & Basel II. Each risk function is headed by asenior manager who reports directly to the Group Executive, Risk and Credit Policy. The role of the Risk and CreditPolicy Group includes:

Recommending risk management policies in accordance with the Prudential Regulations, Basel II / III frameworkand international best practices.

Reviewing policies / manuals and ensuring that these are in accordance with BRCC / BoD approved riskmanagement policies.

Commitments in respect of Derivatives - OffBalance Sheet Items (Derivatives having negative

61


43.1 Credit risk

43.2 Segmental information

43.2.1 Segments by class of business

(Rupees in '000) Percent (Rupees in '000) Percent (Rupees in '000) Percent

Chemical and pharmaceuticals 11,247,768 2.04% 3,337,614 0.28% 2,911,636 0.40%Agri business 57,047,144 10.36% 12,950,830 1.10% 52,778 0.01%Textile spinning 18,055,669 3.28% 413,205 0.04% 4,255,496 0.58%Textile weaving 6,691,939 1.22% 319,156 0.03% 1,933,418 0.27%Textile composite 25,607,196 4.65% - 0.00% 3,365,109 0.46%Textile others 15,228,871 2.77% 2,397,836 0.20% 2,205,971 0.30%Cement 5,182,402 0.94% 2,410,307 0.20% 1,890,002 0.26%Sugar 6,376,894 1.16% 2,388,205 0.20% 315,140 0.04%Shoes and leather garments 2,458,083 0.45% 787,972 0.07% 327,094 0.04%Automobile and transportation equipment 17,612,083 3.20% 6,293,256 0.53% 7,471,237 1.03%Financial 36,007,524 6.54% 14,074,360 1.19% 453,144,196 62.28%Insurance - 0.00% 24,854,391 2.11% - 0.00%Electronics and electrical appliances 14,790,288 2.69% 4,596,421 0.39% 675,306 0.09%Production and transmission of energy 101,906,289 18.51% 45,825,379 3.88% 49,314,330 6.78%Paper and allied 3,848,787 0.70% 589,135 0.05% 1,706,322 0.23%Surgical and metal 7,034 0.00% 4,559,269 0.39% 77,526 0.01%Contractors 8,141,350 1.48% 8,731,584 0.74% 26,609,262 3.66%Wholesale traders 19,785,045 3.59% 32,794,395 2.78% 5,520,961 0.76%Fertilizer dealers 18,005,581 3.27% 556,736 0.05% 4,874,513 0.67%Sports goods 41,990 0.01% 80,479 0.01% - 0.00%Food industries 23,863,907 4.33% 7,463,153 0.63% 1,908,394 0.26%Airlines 12,739,537 2.31% 2,550,346 0.22% 783,838 0.11%Cables 782,524 0.14% 457,963 0.04% 626,743 0.09%Construction 26,151,063 4.75% 17,018,282 1.44% 15,062,235 2.07%Containers and ports - 0.00% 151,778 0.01% 1,282,181 0.18%Engineering 13,863,026 2.52% 3,421,095 0.29% 11,760,689 1.62%Glass and allied 501,930 0.09% 160,710 0.01% 149,988 0.02%Hotels 1,852,660 0.34% 702,989 0.06% 2,092,784 0.29%Infrastructure - 0.00% 1,716,401 0.15% - 0.00%Media - 0.00% 774,621 0.07% - 0.00%Polyester and fiber 4,527,773 0.82% 6,308 0.00% 948,722 0.13%Telecommunication 15,659,911 2.84% 9,817,664 0.83% 21,033,604 2.89%Individuals 45,440,606 8.25% 732,563,365 62.09% 3,951,369 0.54%Others 37,211,436 6.76% 235,121,843 19.93% 101,373,964 13.93%

550,636,310 100.00% 1,179,887,048 100.00% 727,624,808 100.00%

Gross advances Deposits Contingencies andcommitments

Credit risk is the risk that a customer or counterparty may not settle an obligation for full value, either when due or at anytime thereafter. This risk arises from the potential that a customer's or counterparty’s willingness or ability to meet such anobligation is impaired, resulting in an economic loss to the Bank.

The credit risk management process is driven by the Bank's Credit Policy and Credit Manual, which provides policies andprocedures in relation to credit initiation, approval, documentation and disbursement, credit maintenance and remedialmanagement.

Individual credit authorities are delegated to credit officers by the Group Head - Risk & Credit Policy, according to theirseasoning / maturity. Approvals for Corporate and Consumer loans are centralized, while approval authorities forCommercial, SME and Agri exposures are delegated to a Regional level. All credit policy functions are centrally organized.

Concentrations of credit risk exist if clients are engaged in similar activities, or are located in the same geographical region,or have comparable economic characteristics such that their ability to meet contractual obligations would be similarlyaffected by changes in economic, political or other conditions. The Bank manages, limits and controls concentrations ofcredit risk to individual counterparties and groups, and to industries, where appropriate. Limits are also applied toportfolios or sectors where the Bank considers it appropriate to restrict credit risk concentrations, or to areas of higher risk,or to control the rate of portfolio growth.

2016

62



Chemical and pharmaceuticals 9,327,735 1.88% 1,809,762 0.17% 2,659,971 0.36%Agri business 37,590,714 7.56% 11,874,669 1.13% 2,325,693 0.31%Textile spinning 14,705,839 2.96% 553,544 0.05% 2,848,725 0.38%Textile weaving 5,417,328 1.09% 255,592 0.02% 2,131,163 0.28%Textile composite 20,341,891 4.09% - 0.00% 1,559,303 0.21%Textile others 16,422,436 3.30% 1,998,225 0.19% 1,075,023 0.14%Cement 2,858,739 0.58% 2,383,333 0.23% 896,732 0.12%Sugar 14,018,803 2.82% 1,396,474 0.13% 107,631 0.01%Shoes and leather garments 1,958,673 0.39% 488,165 0.05% 1,041,359 0.14%Automobile and transportation equipment 10,587,725 2.13% 10,247,697 0.97% 4,249,808 0.57%Financial 30,261,665 6.09% 15,223,752 1.45% 513,448,033 68.55%Insurance - 0.00% 10,673,655 1.02% 121,361 0.02%Electronics and electrical appliances 8,456,906 1.70% 6,476,527 0.62% 3,651,241 0.49%Production and transmission of energy 100,062,164 20.13% 51,011,758 4.85% 47,985,564 6.41%Paper and allied 3,236,199 0.65% 686,934 0.07% 2,302,756 0.31%Surgical and metal 2,489 0.00% 5,972,287 0.57% 70,030 0.01%Contractors 12,777,129 2.57% 10,010,900 0.95% 16,626,752 2.22%Wholesale traders 21,637,963 4.35% 26,508,688 2.52% 4,523,502 0.60%Fertilizer dealers 11,267,831 2.27% 913,573 0.09% 5,663,803 0.76%Sports goods 38,994 0.01% 93,124 0.01% 229,470 0.03%Food industries 23,860,683 4.80% 3,941,517 0.37% 1,533,347 0.20%Airlines 15,848,181 3.19% 2,265,330 0.22% 457,699 0.06%Cables 986,195 0.20% 348,447 0.03% 309,760 0.04%Construction 19,788,776 3.98% 16,721,589 1.59% 16,385,198 2.19%Containers and ports - 0.00% 595,295 0.06% 1,924,480 0.26%Engineering 11,785,930 2.37% 3,284,407 0.31% 14,081,762 1.88%Glass and allied 348,047 0.07% 76,996 0.01% 236,136 0.03%Hotels 2,669,794 0.54% 1,400,307 0.13% 3,236,578 0.43%Infrastructure 431,286 0.09% 1,816,718 0.17% 6,159 0.00%Media - 0.00% 260,167 0.02% 60,509 0.01%Polyester and fiber 2,732,892 0.55% 6,404 0.00% 1,258,323 0.17%Telecommunication 14,516,669 2.92% 15,732,498 1.50% 18,757,589 2.50%Individuals 39,668,602 7.98% 647,621,253 61.61% 4,399,489 0.59%Others 43,423,632 8.74% 198,585,583 18.89% 72,901,786 9.73%

497,031,910 100.00% 1,051,235,170 100.00% 749,066,735 100.00%

43.2.2 Segment by Sector


Public / Government 153,653,795 27.90% 146,930,185 12.45% 96,756,329 13.30%Private 396,982,515 72.10% 1,032,956,863 87.55% 630,868,479 86.70%

550,636,310 100.00% 1,179,887,048 100.00% 727,624,808 100.00%550,636,310 1,179,887,048


Public / Government 136,660,276 27.54% 126,568,747 12.04% 53,004,687 7.08%Private 360,371,634 72.46% 924,666,423 87.96% 696,062,048 92.92%

497,031,910 100.00% 1,051,235,170 100.00% 749,066,735 100.00%

2015



2015

2016 Gross advances Deposits Contingencies and

commitments

63


43.2.3 Details of non performing advances and specific provisions by class of business segment

Classified advances

Specific provision held

Classified advances


Chemical and pharmaceuticals 148,244 148,244 504,257 398,238 Agri business 380,707 256,571 415,651 328,849 Textile spinning 4,156,868 4,156,868 5,001,480 5,142,833 Textile weaving 408,409 408,409 536,323 536,323 Textile composite 4,288,595 3,982,674 4,239,761 4,019,343 Textile others 4,000,574 3,995,053 3,823,115 3,688,149 Sugar 848,069 776,819 158,123 44,585 Shoes and leather garments 689,772 689,772 688,402 688,402 Automobile and transportation equipment 173,155 172,705 200,394 200,394 Financial 1,596,722 1,596,722 1,884,031 1,863,981 Electronics and electrical appliances 1,260,205 471,505 276,224 202,510 Production and transmission of energy 6,140,951 5,052,753 6,853,347 4,069,380 Paper and allied 163,708 163,708 164,508 164,508 Wholesale traders 3,541,543 2,538,281 3,170,066 2,155,061 Fertilizer dealers 67,623 67,623 74,814 74,814 Sports goods - - 23,834 23,834 Food industries 2,441,732 2,049,338 921,899 783,239 Construction 2,523,191 2,521,191 3,604,270 3,339,694 Engineering 1,203,086 135,766 1,358,851 291,531 Hotels 475,494 475,494 475,494 475,494 Polyester and fiber 1,699,294 1,699,294 2,249,901 2,249,902 Individuals 4,999,976 3,183,651 6,918,575 4,317,813 Others 3,359,066 2,854,171 3,289,912 2,477,157

44,566,984 37,396,612 46,833,232 37,536,034

43.2.4 Details of non performing advances and specific provision by sector

Classified advances


Classified advances


Public / Government 1,089,630 22,313 1,089,630 22,313 Private 43,477,354 37,374,299 45,743,602 37,513,721

44,566,984 37,396,612 46,833,232 37,536,034

43.2.5 Geographical segment analysis

Pakistan operations 41,679,626 1,305,891,720 107,445,556 632,363,179

Middle East 4,226,809 299,091,186 41,366,373 91,074,273 United States of America 37,206 11,573,555 2,462,422 16,326 Export Processing Zones 71,955 1,534,998 512,510 4,171,030

4,335,970 312,199,739 44,341,305 95,261,629

46,015,596 1,618,091,459 151,786,861 727,624,808

---------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------

2016 2015

2016 2015

---------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------

---------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------

2016Profit before

taxationTotal assets

employedNet assets employed

Contingencies and

commitments

64


Pakistan operations 37,908,536 1,146,594,978 100,090,385 660,947,021

Middle East 4,136,015 284,197,137 39,156,824 87,984,936 United States of America 74,433 7,172,640 2,426,167 1,685 Export Processing Zones 55,701 1,514,484 462,099 133,093

4,266,149 292,884,261 42,045,090 88,119,714

42,174,685 1,439,479,239 142,135,475 749,066,735

Total assets employed include intra group items of Rs. 40,540.436 million (2015: Rs. 38,828.396 million).

43.3 Market Risk

The functions of the Market Risk Management unit are as follows:

- To keep the market risk exposure within the Bank’s risk appetite as assigned by the BoD and the BRCC.

-

-

-

To develop, review and upgrade procedures for the effective implementation of market risk management policiesapproved by the BoD and BRCC.

The Market and Treasury Risk division performs market risk management activities. Within this division, the Market RiskManagement unit is responsible for the development and review of market risk policies and processes, and is involved inresearch, financial modeling and testing / implementation of risk management systems, while Treasury Middle Office isresponsible for implementation and monitoring of market risk and other policies, escalation of deviations to seniormanagement, and MIS reporting.

Trading activities are centered in the Treasury and Capital Markets Group which facilitates clients and also runs proprietarypositions. The Bank is active in the cash and derivative markets for equity, interest rate and foreign exchange.

Market risk is the risk that the fair value of a financial instrument will fluctuate due to movements in market prices. It resultsfrom changes in interest rates, exchange rates and equity prices as well as from changes in the correlations betweenthem. Each of these components of market risk consists of a general market risk and a specific market risk that is drivenby the nature and composition of the portfolio.

Measuring and controlling market risk is usually carried out at a portfolio level. However, certain controls are applied,where necessary, to individual risk types, to particular books and to specific exposures. Controls are also applied toprevent any undue risk concentrations in trading books, taking into account variations in price, volatility, market depth andliquidity. These controls include limits on exposure to individual market risk variables as well as limits on concentrations oftenors and issuers.

To review new product proposals and propose / recommend / approve procedures for the management of theirmarket risk. Various limits are assigned to different businesses on a product / portfolio basis. The products areapproved through product programs, where risks are identified and limits and parameters are set. Any transactions /products falling outside these product programs are approved through separate transaction / product memos.

To maintain a comprehensive database for performing risk analysis, stress testing and scenario analysis. Stresstesting activities are performed on a quarterly basis on both the Banking and Trading books.

2015

---------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------

Profit before taxation

Total assets employed

Net assets employed

Contingencies and

commitments

65


43.3.1 Foreign Exchange Risk

Pakistan Rupee 1,248,172,097 1,074,639,549 (23,292,889) 150,239,659 US Dollar 173,342,067 97,588,465 (73,845,865) 1,907,737 Pound Sterling 2,674,719 19,584,949 17,163,381 253,151 Japanese Yen 21,492 6,528 (11,749) 3,215 Euro 1,667,112 8,007,130 6,490,019 150,001 UAE Dirham 98,808,232 160,743,572 61,312,602 (622,738) Bahraini Dinar 13,468,415 20,218,063 6,309,942 (439,706) Qatari Riyal 26,785,382 31,840,101 4,916,279 (138,440) Other Currencies 12,611,507 13,135,805 958,280 433,982

1,577,551,023 1,425,764,162 - 151,786,861

Pakistan Rupee 1,087,037,989 928,414,686 (13,693,395) 144,929,908 US Dollar 167,187,602 90,658,977 (79,191,983) (2,663,358) Pound Sterling 2,265,177 19,599,808 17,542,362 207,731 Japanese Yen 6,263 118,852 114,008 1,419 Euro 1,210,550 12,016,145 10,798,862 (6,733) UAE Dirham 95,059,845 140,645,046 45,705,786 120,585 Bahraini Dinar 12,376,067 23,707,222 11,256,095 (75,060) Qatari Riyal 21,491,162 28,378,483 6,331,700 (555,621) Other Currencies 14,016,188 14,976,149 1,136,565 176,604

1,400,650,843 1,258,515,368 - 142,135,475 -

43.3.2 Equity position risk

43.3.3 Yield / interest rate risk

2015

2016

Liabilities Net currency exposure

Interest rate risk is the risk that fair value of a financial instrument will fluctuate as a result of changes in interest rates,including changes in the shape of yield curves. Interest rate risk is inherent in many of the Bank's businesses and arisesfrom mismatches between the contractual maturities or the re-pricing of on and off balance sheet assets and liabilities.The interest rate sensitivity profile is prepared on a quarterly basis based on the re-pricing or contractual maturities ofassets and liabilities.

Interest rate risk is monitored and managed by performing periodic gap analysis, sensitivity analysis and stress testingand taking appropriate actions where required.

Liabilities Off - balance sheet items

Net currency exposure

----------------------------- (Rupees in '000) -----------------------------

----------------------------- (Rupees in '000) -----------------------------

Off - balance sheet items

Foreign Exchange Risk is the risk that the fair value of a financial instrument will fluctuate due to changes in foreignexchange rates. Exposures are monitored by currency to ensure that they remain within the established limits for eachcurrency. Exposures are also monitored on an overall basis to ensure compliance with the Bank’s SBP approved ForeignExchange Exposure Limit.

Equity position risk is the risk that the fair value of a financial instrument will fluctuate due to changes in the prices ofindividual stocks or the levels of equity indices. The Bank’s equity book comprises of held for trading (HFT) and availablefor sale (AFS) portfolios. The objective of the HFT portfolio is to make short-term capital gains, whilst the AFS portfolio ismaintained with a medium term view of earning both capital gains and dividend income. Product program manuals havebeen developed to provide guidelines on the objectives and policies, risks and mitigants, limits and controls for the equityportfolios of the Bank.

The Bank's reporting currency is the Pakistan Rupee, but its assets, liabilities, income and expenses are denominated inmultiple currencies. From time to time, TCM proactively hedges foreign currency exposures resulting from its marketmaking activities, subject to pre-defined limits.

The Bank is an active participant in the cash and derivatives markets for currencies and carries currency risk from thesetrading activities, conducted primarily by the Treasury and Capital Markets Group (TCM). These trading exposures aremonitored through prescribed stress tests and sensitivity analyses.

Assets

Assets

66


43.3.4

Upto 1 monthOver 1 month

to 3 months

Over 3

months to 6

months

Over 6

months to 1

year

Over 1 year

to 2 years

Over 2 years

to 3 years

Over 3 years

to 5 years

Over 5 years

to 10 yearsOver 10 years

On-balance sheet financial instruments %

Assets

Cash and balances with treasury banks 0.01% 131,506,861 8,617,552 - - - - - - - - 122,889,309

Balances with other banks 1.56% 14,920,994 7,578,877 2,000,000 - - - - - - - 5,342,117

Lendings to financial institutions 4.48% 34,168,287 3,376,955 19,610,513 3,851,990 523,002 4,703,225 1,305,313 797,289 - - -

Investments 8.29% 806,531,246 31,092,617 70,579,983 22,533,948 47,107,512 129,174,346 109,624,534 181,982,635 177,241,723 3,754,207 33,439,741

Advances 6.36% -

Performing 502,940,552 89,285,288 297,318,124 72,894,699 11,442,402 7,304,847 6,561,660 4,845,977 5,505,909 7,781,646

Non-performing 7,170,372 - - - - - - - - - 7,170,372

Other assets 0.00% 28,770,658 - - - - - - - - - 28,770,658

1,526,008,970 139,951,289 389,508,620 99,280,637 59,072,916 141,182,418 117,491,507 187,625,901 182,747,632 11,535,853 197,612,197

Liabilities

Bills payable 0.00% 11,756,422 - - - - - - - - - 11,756,422

Borrowings 5.28% 201,549,619 163,011,950 27,568,121 7,843,330 3,026,274 99,944 - - - - -

Deposits and other accounts 2.69% 1,179,887,048 519,079,769 61,355,687 47,933,323 15,629,871 4,969,275 11,702,862 43,416,816 346,482 - 475,452,963

Other liabilities 0.00% 22,147,747 - - - - - - - - - 22,147,747

1,415,340,836 682,091,719 88,923,808 55,776,653 18,656,145 5,069,219 11,702,862 43,416,816 346,482 - 509,357,132

On-balance sheet gap 110,668,134 (542,140,430) 300,584,812 43,503,984 40,416,771 136,113,199 105,788,645 144,209,085 182,401,150 11,535,853 (311,744,935)

Net non financial assets 41,118,727

Total net assets 151,786,861

Off-balance sheet financial instruments

Interest Rate Derivatives - Long position 6,986,094 - 634,181 69,732 - 648,000 5,634,181 - - - -

Interest Rate Derivatives - Short position (6,986,094) - (1,282,181) (5,069,732) - - (634,181) - - - -

Cross Currency Swap - Long position 522,051 - 522,051 - - - - - - - -

Cross Currency Swap - Short position (522,051) - (522,051) - - - - - - - -

FX Options - Long position 213,081 143,248 69,833 - - - - - - - -

FX Options - Short position (213,081) (143,248) (69,833) - - - - - - - -

Forward Purchase of Government Securities 4,998,400 4,998,400 - - - - - - - - -

Forward Sale of Government Securities (3,553,866) (3,553,866) - - - - - - - - -

Foreign currency forward purchases 186,835,721 58,295,855 72,456,371 43,763,031 12,320,464 - - - - - -

Foreign currency forward sales (162,987,703) (59,953,361) (55,208,929) (36,849,566) (10,975,847) - - - - - -

Off-balance sheet Gap 25,292,552 (212,972) 16,599,442 1,913,465 1,344,617 648,000 5,000,000 - - - -

Total Yield / Interest Rate Risk Sensitivity Gap 135,960,686 (542,353,402) 317,184,254 45,417,449 41,761,388 136,761,199 110,788,645 144,209,085 182,401,150 11,535,853 (311,744,935)

Cumulative Yield / Interest Rate Risk Sensitivity Gap (542,353,402) (225,169,148) (179,751,699) (137,990,311) (1,229,112) 109,559,533 253,768,618 436,169,768 447,705,621 135,960,686

Mismatch of interest rate sensitive assets and liabilities

Effective

yield /

interest rate

------------------------------------------------------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------------------------------------------------------

Non-interest

bearing

financial

instruments

2016

Total

Exposed to yield / interest rate risk

67


Upto 1 month Over 1 month

to 3 months

Over 3

months to 6

months

Over 6

months to 1

year

Over 1 year

to 2 years

Over 2 years

to 3 years

Over 3 years

to 5 years

Over 5 years

to 10 years

Over 10 years

On-balance sheet financial instruments %

Assets

Cash and balances with treasury banks 0.00% 112,011,276 8,834,266 - - - - - - - - 103,177,010

Balances with other banks 0.98% 16,859,118 7,488,240 2,930,007 - - - - - - - 6,440,871

Lendings to financial institutions 4.92% 24,094,768 7,829,201 2,803,531 2,660,086 4,702,713 2,270,908 2,656,053 356,050 816,226 - -

Investments 9.41% 719,518,093 55,657,986 37,515,031 28,613,760 104,547,985 58,836,683 130,159,521 111,271,404 149,066,951 3,633,728 40,215,044

Advances 7.74% -

Performing 446,116,682 99,006,318 270,448,711 40,932,808 6,849,354 5,218,726 6,415,291 4,006,731 10,268,976 2,969,767 -

Non-performing 9,297,198 - - - - - - - - - 9,297,198

Other assets 0.00% 30,778,317 - - - - - - - - - 30,778,317

1,358,675,452 178,816,011 313,697,280 72,206,654 116,100,052 66,326,317 139,230,865 115,634,185 160,152,153 6,603,495 189,908,440

Liabilities

Bills payable 0.00% 13,391,739 - - - - - - - - - 13,391,739

Borrowings 5.93% 163,131,947 126,064,735 15,311,293 5,524,942 8,278,403 444,576 321,950 1,102,800 5,502,848 - 580,400

Deposits and other accounts 3.11% 1,051,235,170 472,383,243 83,743,641 50,692,366 21,603,170 7,271,026 7,375,391 10,598,104 5,628,096 291,123 391,649,010

Other liabilities 0.00% 21,263,607 - - - - - - - - - 21,263,607

1,249,022,463 598,447,978 99,054,934 56,217,308 29,881,573 7,715,602 7,697,341 11,700,904 11,130,944 291,123 426,884,756

On-balance sheet gap 109,652,989 (419,631,967) 214,642,346 15,989,346 86,218,479 58,610,715 131,533,524 103,933,281 149,021,209 6,312,372 (236,976,316)

Net non financial assets 32,482,486

Total net assets 142,135,475

Off-balance sheet financial instruments

Interest Rate Derivatives - Long position 10,462,192 - 1,328,230 104,741 - 104,741 1,073,250 7,851,230 - - -

Interest Rate Derivatives - Short position (10,462,192) - (1,924,480) (7,104,741) - (104,741) (477,000) (851,230) - - -

Cross Currency Swap - Long position 508,129 - 508,129 - - - - - - - -

Cross Currency Swap - Short position (508,129) - (508,129) - - - - - - - -

FX Options - Long position 370,073 - - - - - - - - - 370,073

FX Options - Short position (370,073) - - - - - - - - - (370,073)

Forward Purchase of Government Securities - - - - - - - - - - -

Forward Sale of Government Securities (10,483,779) (10,483,779) - - - - - - - - -

Foreign currency forward purchases 211,486,719 126,139,788 79,571,498 5,053,527 721,906 - - - - - -

Foreign currency forward sales (197,523,023) (111,557,236) (79,096,871) (5,275,900) (1,593,016) - - - - - -

Off-balance sheet Gap 3,479,917 4,098,773 (121,623) (7,222,373) (871,110) - 596,250 7,000,000 - - -

Total Yield / Interest Rate Risk Sensitivity Gap 113,132,906 (415,533,194) 214,520,723 8,766,973 85,347,369 58,610,715 132,129,774 110,933,281 149,021,209 6,312,372 (236,976,316)

Cumulative Yield / Interest Rate Risk Sensitivity Gap (415,533,194) (201,012,471) (192,245,498) (106,898,129) (48,287,414) 83,842,360 194,775,641 343,796,850 350,109,222 113,132,906

------------------------------------------------------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------------------------------------------------------

2015

Effective

yield /

interest rate

Total Exposed to yield / interest rate risk Non-interest

bearing

financial

instruments

68


43.4 Liquidity risk

Liquidity risk is the risk that the Bank may be unable to meet its obligations or to fund increases in assets as they fall due without incurring unacceptable cost or losses.

43.4.1

Total Upto 1 month Over 1 month to 3 months

Over 3 months to 6 months

Over 6 months to 1 year

Over 1 year to 2 years

Over 2 years to 3 years



Over 10 years

AssetsCash and balances with treasury banks 131,506,861 76,592,440 4,041,134 3,960,472 5,733,293 4,936,702 3,418,617 5,421,144 15,990,082 11,412,977 Balances with other banks 14,920,994 12,920,994 2,000,000 - - - - - - - Lendings to financial institutions 34,168,287 2,627,465 16,318,642 3,566,375 823,002 5,510,853 4,830,387 225,825 265,738 - Investments 806,531,246 31,738,157 70,108,740 8,671,646 66,608,308 134,155,282 101,991,780 198,044,685 173,990,678 21,221,970 Advances - Performing 502,940,552 116,263,682 117,781,565 49,053,920 21,185,362 15,038,818 25,772,686 66,319,700 70,886,027 20,638,792 Advances - Non-performing 7,170,372 - - - - - - - - 7,170,372 Operating fixed assets 35,581,758 194,110 1,148,514 1,755,526 266,389 559,163 560,123 5,388,772 1,880,420 23,828,741 Other assets 44,730,953 5,707,333 5,283,509 20,955,494 11,439,719 26,392 24,686 24,043 251,497 1,018,280

1,577,551,023 246,044,181 216,682,104 87,963,433 106,056,073 160,227,210 136,598,279 275,424,169 263,264,442 85,291,132 LiabilitiesBills payable 11,756,422 3,011,259 2,204,387 2,160,388 4,380,388 - - - - - Borrowings 201,549,619 163,928,135 15,023,397 8,223,042 3,261,913 186,168 194,690 817,585 9,426,000 488,689 Deposits and other accounts 1,179,887,048 143,143,116 138,494,886 90,930,243 97,940,038 86,994,141 84,547,486 101,096,692 255,633,054 181,107,392 Deferred tax liability 4,691,544 - - - 1,172,886 1,172,886 1,172,886 1,172,886 - - Other liabilities 27,879,529 9,273,476 2,160,321 464,337 2,460,228 1,123,745 1,017,112 1,114,490 4,902,255 5,363,565

1,425,764,162 319,355,986 157,882,991 101,778,010 109,215,453 89,476,940 86,932,174 104,201,653 269,961,309 186,959,646 Net assets 151,786,861 (73,311,805) 58,799,113 (13,814,577) (3,159,380) 70,750,270 49,666,105 171,222,516 (6,696,867) (101,668,514)

Represented by:Share capital 12,241,798 Reserves 40,454,505 Unappropriated profit 64,246,270 Surplus on revaluation of assets 34,844,288

151,786,861

The Assets and Liability Management Committee (ALCO) of the Bank is responsible for the oversight of liquidity management and meets on a monthly basis or more frequently, ifrequired.

The Bank’s approach to liquidity management is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressedconditions, without incurring unacceptable losses or risking sustained damage to business franchises. A centralized approach is adopted, based on an integrated frameworkincorporating an assessment of all material known and expected cash flows and the availability of collateral which could be used to secure additional funding if required. The frameworkentails careful monitoring and control of the daily liquidity position, and regular liquidity stress testing under a variety of scenarios. These encompass both normal and stressed marketconditions, including general market crises and the possibility that access to markets could be impacted by a stress event affecting some part of the Bank’s business.

Maturities of assets and liabilities - based on working prepared by the Assets and Liabilities Management Committee (ALCO) of the Bank

Assets and Liabilities having contractual maturity dates are bucketed as per their respective maturities. The maturity profile of non-contractual deposits and bills payable is estimatedusing an Exponentially Weighted Moving Average model based on data for the last seven years. The maturity profile of certain non-contractual assets and liabilities which are related tospecific assets and liabilities follows the maturity profile of the underlying asset or liability. The maturity profile of other non-contractual assets and liabilities is expected to follow historical patterns of behavior. The methodology and the assumptions used to derive the maturity profile of non-contractual assets and liabilities have been approved by ALCO.

2016

--------------------------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------------------------

69


Total Upto 1 month Over 1 month to 3 months

Over 3 months to 6 months

Over 6 months to 1 year





Over 10 years

AssetsCash and balances with treasury banks 112,011,276 68,523,683 2,658,880 2,605,808 3,772,243 5,247,683 4,026,689 6,385,408 13,446,385 5,344,497 Balances with other banks 16,859,118 16,859,118 - - - - - - - - Lendings to financial institutions 24,094,768 6,327,316 882,492 1,646,424 5,232,401 3,069,238 5,442,106 1,349,700 145,091 - Investments 719,518,093 53,683,660 33,400,847 22,741,393 129,578,556 59,737,275 134,258,337 113,443,727 154,974,036 17,700,262 Advances - Performing 446,116,682 106,386,510 83,076,952 43,979,362 26,429,235 16,936,500 20,641,300 91,372,545 47,150,729 10,143,549 Advances - Non-performing 9,297,198 - - - - - - - - 9,297,198 Operating fixed assets 31,630,374 137,955 532,668 816,327 163,943 626,672 489,105 3,699,497 2,255,423 22,908,784 Other assets 41,123,334 18,464,959 8,119,726 3,325,717 8,005,671 208,908 191,573 1,260,187 591,411 955,182

1,400,650,843 270,383,201 128,671,565 75,115,031 173,182,049 85,826,276 165,049,110 217,511,064 218,563,075 66,349,472

LiabilitiesBills payable 13,391,739 4,759,755 3,483,823 3,414,285 1,733,876 - - - - - Borrowings 163,131,947 126,774,800 17,872,337 5,643,176 6,035,758 553,776 767,819 1,619,487 3,695,925 168,869 Deposits and other accounts 1,051,235,170 146,855,480 138,427,705 90,968,092 89,416,761 95,652,454 78,460,024 110,760,238 219,918,599 80,775,817 Deferred tax liability 4,186,406 - - - 1,046,602 1,046,602 1,046,601 1,046,601 - - Other liabilities 26,570,106 10,355,424 2,377,887 2,501,368 968,884 1,092,784 843,842 1,300,063 3,036,693 4,093,161

1,258,515,368 288,745,459 162,161,752 102,526,921 99,201,881 98,345,616 81,118,286 114,726,389 226,651,217 85,037,847

Net assets 142,135,475 (18,362,258) (33,490,187) (27,411,890) 73,980,168 (12,519,340) 83,930,824 102,784,675 (8,088,142) (18,688,375)

Represented by:

Share capital 12,241,798 Reserves 38,402,303 Unappropriated profit 55,222,960 Surplus on revaluation of assets 36,268,414

142,135,475

2015

--------------------------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------------------------

70


43.4.2 Maturities of assets and liabilities - based on contractual maturity of the assets and liabilities of the Bank

Total Upto 1 month Over 1 month to 3

months

Over 3 months to 6

months

Over 6 months to 1

year





Over 10 years

Assets

Cash and balances with treasury banks 131,506,861 131,506,861 - - - - - - - - Balances with other banks 14,920,994 12,920,994 2,000,000 - - - - - - - Lendings to financial institutions 34,168,287 2,941,260 16,318,642 3,252,452 823,002 5,510,853 5,194,313 127,765 - - Investments 806,531,246 78,824,599 54,956,011 17,863,289 47,088,767 133,349,226 109,630,801 183,697,691 177,374,227 3,746,635 Advances 510,110,924 116,263,682 117,781,565 49,053,920 21,185,362 15,038,818 25,772,686 66,319,700 70,886,027 27,809,164 Operating fixed assets 35,581,758 194,110 1,148,514 1,755,526 266,389 559,163 560,123 5,388,772 1,880,420 23,828,741 Other assets 44,730,953 5,707,335 5,283,509 20,955,494 11,439,719 26,392 24,686 24,043 251,497 1,018,278

1,577,551,023 348,358,841 197,488,241 92,880,681 80,803,239 154,484,452 141,182,609 255,557,971 250,392,171 56,402,818 Liabilities

Bills payable 11,756,422 11,756,422 - - - - - - - - Borrowings 201,549,619 163,175,690 15,100,193 8,683,435 2,762,490 118,277 198,880 1,379,672 9,729,395 401,587 Deposits and other accounts 1,179,887,048 979,014,011 88,780,326 50,220,338 18,804,119 26,415,337 7,529,916 9,053,455 69,546 - Deferred tax liability - net 4,691,544 4,691,544 - - - - - - - - Other liabilities 27,879,529 24,085,260 281,444 69,012 9,622 - - - - 3,434,191

1,425,764,162 1,182,722,927 104,161,963 58,972,785 21,576,231 26,533,614 7,728,796 10,433,127 9,798,941 3,835,778 Net assets 151,786,861 (834,364,086) 93,326,278 33,907,896 59,227,008 127,950,838 133,453,813 245,124,844 240,593,230 52,567,040

Represented by:


151,786,861

2016

The maturity profile presented below has been prepared as required by IFRS on the basis of contractual maturities, except for products that do not have a contractual maturity which areshown in the first bucket.

--------------------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------------------

71


Total Upto 1 month Over 1 month to 3

months

Over 3 months to 6

months

Over 6 months to 1

year





Over 10 years

Assets

Cash and balances with treasury banks 112,011,276 112,011,276 - - - - - - - - Balances with other banks 16,859,118 13,929,117 2,930,001 - - - - - - - Lendings to financial institutions 24,094,768 6,327,316 882,492 1,646,424 5,232,401 3,069,238 5,442,106 1,349,700 145,091 - Investments 719,518,093 91,107,443 33,381,145 22,741,393 104,519,593 59,737,275 134,258,337 113,443,727 154,974,036 5,355,144 Advances 455,413,880 106,386,510 83,076,952 43,979,362 26,429,235 16,936,500 20,641,300 91,372,545 47,150,729 19,440,747 Operating fixed assets 31,630,374 137,955 532,668 816,327 163,943 626,672 489,105 3,699,497 2,255,423 22,908,784 Other assets 41,123,334 34,388,933 5,483,801 380,198 775,137 77,233 - - - 18,032

1,400,650,843 364,288,550 126,287,059 69,563,704 137,120,309 80,446,918 160,830,848 209,865,469 204,525,279 47,722,707 Liabilities

Bills payable 13,391,739 13,391,739 - - - - - - - - Borrowings 163,131,947 126,774,800 17,872,337 5,643,176 6,035,758 553,776 767,819 1,619,487 3,695,925 168,869 Deposits and other accounts 1,051,235,170 866,713,576 87,209,373 45,152,494 23,874,286 5,423,709 9,226,661 8,615,778 5,016,919 2,374 Deferred tax liability - net 4,186,406 4,186,406 - - - - - - - - Other liabilities 26,570,106 23,091,528 319,467 8,943 3,705 - - - - 3,146,463

1,258,515,368 1,034,158,049 105,401,177 50,804,613 29,913,749 5,977,485 9,994,480 10,235,265 8,712,844 3,317,706 Net assets 142,135,475 (669,869,499) 20,885,882 18,759,091 107,206,560 74,469,433 150,836,368 199,630,204 195,812,435 44,405,001

Represented by:


142,135,475

2015

--------------------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------------------

72


43.5 Operational risk

44. ISLAMIC BANKING BUSINESS

The Bank operates 47 (2015: 41) Islamic Banking Branches and 141 (2015: 141 ) Islamic Banking windows.

The statement of financial position of the Bank's Islamic Banking Branches as at December 31 is as follows:

Note 2016 2015

ASSETSCash and balances with treasury banks 2,327,107 1,646,846 Balances with other banks 2,862,278 3,213,299 Due from financial institutions 44.2 12,726,452 1,300,000 Investments 13,104,677 17,247,343 Islamic financing and related assets 44.3 7,284,386 7,070,382 Operating fixed assets 155,843 151,283 Due from Head Office 9,365,555 2,146,205 Other assets 143,903 160,736 Total Assets 47,970,201 32,936,094

LIABILITIESBills payable 238,126 197,090 Deposits and other accounts

Current accounts - non remunerative 9,752,775 5,431,588 Current accounts - remunerative 2,520,018 1,870,337 Saving accounts 2,994,848 2,904,770 Term deposits 1,299,848 1,392,031 Deposits from financial institutions - remunerative 28,773,229 19,457,452 Deposits from financial institutions - non remunerative - 30,007

45,340,718 31,086,185 Due to Head Office - - Other liabilities 721,401 452,259

46,300,245 31,735,534 NET ASSETS 1,669,956 1,200,560

REPRESENTED BYIslamic Banking Fund 2,181,000 1,681,000 Accumulated losses (609,289) (532,990)

1,571,711 1,148,010 Surplus on revaluation of assets 98,245 52,550

1,669,956 1,200,560

Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or fromexternal events.

The Operational Risk & Basel II Division is primarily responsible for the oversight of operational risk management acrossthe Bank. The operational risk management framework of the Bank is governed by the Operational Risk ManagementPolicy and Procedures, while the implementation is supported by an operational risk management system and designatedoperational risk coordinators within different units across the bank. The framework is in line with international bestpractices, flexible enough to implement in stages and permits the overall approach to evolve in response to organizationallearning and future requirements.

Loss data, collected through a well defined program, is evaluated and processes are reviewed for improvements inmitigation techniques. Periodic workshops are conducted for Risk & Control Self Assessment and key risk exposures areidentified and assessed against existing controls to evaluate improvement opportunities. Key Risk Indicators are alsodefined for monitoring of risk exposures. New products, systems, activities and processes, are subject to comprehensiveoperational risk assessments, before implementation.

Business Continuity Plans have been implemented across the bank, clearly defining the roles and responsibilities ofrespective stakeholders, and covering recovery strategy, IT and structural backups, scenario and impact analyses andtesting directives. The outsourcing policy has also been augmented to address risks associated with such arrangements.

--------- (Rupees in '000) ---------

73


The profit and loss account of the Bank's Islamic Banking branches for the year ended December 31 is as follows:

2016 2015

Return earned 2,053,224 1,647,780 Return expensed 1,412,390 1,283,399

640,834 364,381

Provision against loans and advances - net 1,469 12,104 Reversal of provision for diminution in value of investments - net (2,182) -

(713) 12,104 Net return after provisions 641,547 352,277

Other IncomeFee, commission and brokerage income 67,432 22,762 Income from dealing in foreign currencies 12,683 11,336 Gain on sale of securities - net 4,299 16,157 Other income 47,802 3,757 Total other income 132,216 54,012

773,763 406,289 Other ExpensesAdministrative expenses 849,931 662,509 Other provisions - net 131 37 Total other expenses 850,062 662,546 Loss for the year (76,299) (256,257)

Accumulated losses brought forward (532,990) (276,733) Accumulated losses carried forward (609,289) (532,990)

Remuneration to Shariah Board and Advisor 6,058 3,295

44.1. Charity Fund

Opening balance 2,342 5,102 Addition during the year 1,404 2,240 Payments during the year (3,098) (5,000) Closing balance 648 2,342

44.2.

44.3. Islamic financing and related assets 2016 2015

Financings Murabaha 242,391 259,138 Ijarah 44.4 620,848 714,570 Diminishing Musharaka 6,203,709 6,077,784

7,066,948 7,051,492 AdvancesAdvances and receivables against Ijarah 120,828 7,886 Advances for Diminishing Musharaka 87,892 8,082 Advances for Murabaha 21,998 27,598

230,718 43,566 Profit and other receivables against financings and advances 74,308 61,442 Gross Islamic financing and related assets 7,371,974 7,156,500 Provision against financings and advances (87,588) (86,118)

7,284,386 7,070,382

--------- (Rupees in '000) ---------

This includes Bai Muajjal agreements entered into with various financial institutions whereby the Bank sold sukuks havingcarrying value of Rs. 11,073.312 million on deferred payment basis. The average return on these transactions is 5.60%.The balances are due to mature latest by March 2017.

--------- (Rupees in '000) ---------

74


44.4 Ijarah

2016Cost Accumulated Depreciation

Additions / Charge /(Deletions) (Deletions)

----------------------------------------------------------- (Rupees in '000) --------------------------------------------------------------------

1,191,438 258,436 1,039,790 476,868 205,186 418,942 620,848 (410,084) (263,112)

1,191,438 (151,648) 1,039,790 476,868 (57,926) 418,942 620,848

2015Cost Accumulated Depreciation

Additions / Charge /(Deletions) (Deletions)

----------------------------------------------------------- (Rupees in '000) --------------------------------------------------------------------

1,133,042 272,224 1,191,438 393,770 225,424 476,868 714,570 (213,828) (142,326)

1,133,042 58,396 1,191,438 393,770 83,098 476,868 714,570

44.5 Disclosures for profit and loss distribution and pool management

Ameen Daily Munafa Account (ADMA) Pool

Special Pool(s)

Treasury Pool(s)

General Pool

For all pools, the Mudarib’s share is deducted from the distributable profit to calculate the profit to be allocated to depositors.The allocation of the profit to various deposit categories is determined by the amount invested in that category relative to thetotal pool, as well as by the weightage assigned to the various deposit categories.

During 2016, UBL Ameen (the Mudarib) maintained following pools which accept deposits on the basis of Mudaraba fromdepositors (Rabbulmaal). Pool funds are invested in Islamic modes of financing and investments. The profit earned on thepool is therefore susceptible to the same market and credit risks as discussed in note 43 to the unconsolidated financialstatements.

The ADMA pool consists of deposits for the ADMA product. The net return on the pool is arrived at after deduction of directcosts from the gross return earned on the pool. From the net return, profit is paid to the Mudarib in the ratio of the Mudarib’sequity in the pool to the total pool. The balance represents the distributable profit.

Separate pool(s) are created where the customers desire to invest in high yield assets. These pool(s) rates are higher thanthe general pool depending on the assets. In case of loss in special pool, the loss will be borne by the Special poolmembers. The net return on the pool is arrived at after deduction of direct costs from the gross return earned on the pool.From the net return, profit is paid to the Mudarib in the ratio of the Mudarib’s equity in the pool to the total pool. The balancerepresents the distributable profit.

Treasury Pools are managed on the basis of Musharakah / Mudarabah, wherein UBL Ameen and Financial Institutions shareactual return earned by the pool according to pre-defined profit sharing ratio.

The General pool consists of all other remunerative deposits. The net return on the pool is arrived at after deduction of directcosts from the gross return earned on the pool. Currently, the entire net return is considered as distributable profit withoutpaying any profit to the Mudarib on its equity.

At December 31, 2015

Net book value at December

31, 2015

At January 1, 2016


At January 1, 2016


Net book value at December

31, 2016

At January 1, 2015


At January 1, 2015

75


2016 201544.6 Deployment of Mudaraba based deposits by class of business

Chemical and pharmaceuticals 660,178 665,712 Agri business 1,683,908 833,043 Textile 1,878,541 3,030,148 Sugar - 70,175 Financial 15,640,744 5,337,150 Food industries 511,211 288,707 Engineering 506,268 320,229 Hotel 3,213 8,632 Plastic 33,347 106,876 Individuals 370,273 194,845 Production and Transmission of energy 9,280,999 4,273,464 Government of Pakistan Securities 5,190,245 13,258,920 Others 181,592 159,832

35,940,519 28,547,733

45. YEMEN OPERATIONS

Out

The Mudarib’s share for the year ended December 31, 2016 is Rs. 505.96 million (28.6% of distributable profit). Of this, anamount of Rs. 136.58 million (27% of Mudarib share) was distributed back to depositors as Hiba. The rate of profit earned onaverage earning assets was 6.29% per annum and the rate of profit paid on average deposits was 3.96% per annum.

Throughout the year, political and economic condition in Yemen continued to remain turbulent. International players havebeen making continuous efforts to resolve the long reeling conflict, however, no resolution has been reached so far. InSeptember 2016, the Central Bank Headquarters was moved from the capital city of Sana’a to the port city of Aden.However core operations are still run by Central Bank - Sana’a as relocation to Aden is still in abeyance.

As a result of prevailing political and economic crisis, liquidity crisis is getting aggrevated both in terms of foreign and localcurrencies. Banking and financial services have been negatively impacted due to the prevailing crises and corporations,traders and public at large continue to be affected by the ongoing challenging situation on ground. During the crisis, in theinitial phase of the war, the Central Bank of Yemen kept the exchange parity unchanged, however in April 2016 the CentralBank devalued Yemeni Riyal and revised the US$ to Riyal parity from YER 214.89 to YER 250.25 (16.45% devaluation).Despite this devaluation the Yemeni Riyal continued to lose its value in the open market and is currently traded at a furtherlower parity.

Ever since the crises started, the Bank’s risk is being managed very closely with a clear strategy to re-risk the Yemen Bookas far as practicable. As a result, the bank has been able to reduce its clean exposure substantially. Going forward, thestrategy is to continuously reduce bank’s credit exposure without executing any new business and continue maintaininginvestments in local currency sovereign bonds.

To support the team in Yemen branches, the Camp Office situated in Karachi, Pakistan is in continuous coordination with the team in Yemen to ensure that they are provided unstinted support and assistance whenever required.

The management has taken appropriate measures to support the sustainability of the Bank’s business as may be required inthe prevalent circumstances and is of the view that as such there is no issue on going concern on UBL Yemen operations inthe foreseeable future.

Out of the 3 branches in Yemen, UBL is currently operating with 2 branches in Sana’a and Hodeida under close supervisionof executives at the Business Continuity Plan (BCP) office, Karachi. The Branch in Aden is closed due to restricted access tothe premises in which it is located. Customers of Aden branch are being served from the other two branches.

76


46. NON-ADJUSTING EVENT AFTER THE BALANCE SHEET DATE

47. DATE OF AUTHORIZATION

These financial statements were authorized for issue on February 17, 2017 by the Board of Directors of the Bank.

48. GENERAL

48.1 Comparatives

- Bai Muajjal of Rs. 5,391.120 million (2014: nil) has been reclassified from Lending to financial institutions to Investments.- Assets given on Ijarah of Rs. 695.380 million (net) (2014: Rs 706.341 million) have been reclassified from Operating

fixed assets to Advances.- Islamic receivables carried in Other assets of Rs. 87.510 million (2014: Rs 954.723 million) have been reclassified

to Advances.-

No other major reclassifications were made during the period.

48.2


The Board of Directors in its meeting held on February 17, 2017 has proposed a cash dividend in respect of 2016 of Rs.4per share (2015: Rs. 4 per share). In addition, the Directors have also announced a bonus issue of nil (2015: nil). Theseappropriations will be approved in the forthcoming Annual General Meeting. The unconsolidated financial statements for theyear ended December 31, 2016 do not include the effect of these appropriations which will be accounted for in theunconsolidated financial statements for the year ending December 31, 2017.

Figures have been rounded off to the nearest thousand rupees unless otherwise stated.

Comparative information has been reclassified, rearranged or additionally incorporated in these unconsolidated financialstatements for the purposes of better presentation.

SBP has issued circular (BPRD circular letter 5 of 2016) regarding the classification of Islamic financing and related assets.Accordingly, prior year numbers have been reclassified as follows:

Provision reversal amounting to Rs. 1.274 million (2014: charge of Rs. 12.364 million) has been reclassified from Other provisions to Provision against loans and advances.

77

1) Particulars of investments held in listed companies and Modaraba

Investee

Number of shares /

certificates held

Paid up value per share / certificate

Total paid up value

Cost

(Rupees)Available for sale securities

Investments in ordinary shares

Agritech Limited 15,975,876 10.00 159,759 559,228 Aisha Steel Mills Limited 868,000 10.00 8,680 9,328 Amreli Steels Limited 275,000 10.00 2,750 18,662 DP World 6,926 2,009.66 13,919 18,837 Engro Corporation Limited 1,500,000 10.00 15,000 468,463 Engro Fertilizers Limited 6,669,000 10.00 66,690 603,631 Fatima Fertilizer Company Limited 22,400,000 10.00 224,000 569,358 Fauji Cement Limited 16,500,000 10.00 165,000 578,292 Fauji Fertilizer Company Limited 17,750,000 10.00 177,500 1,996,503 Fauji Fertilizer Bin Qasim Limited 46,699,000 10.00 466,990 1,894,542 Ghani Gases Limited 15,235,320 10.00 152,353 369,596 Ghani Global Glass Limited 2,996,000 10.00 29,960 50,686 Gharibwal Cement Limited 12,135,500 10.00 121,355 575,078 Hub Power Company Limited 38,189,500 10.00 381,895 1,819,518 Hum Network Limited 6,000,000 10.00 60,000 97,278 Indus Dyeing Manufacturing Company Limited 484,890 10.00 4,849 533,428 Kohat Cement Limited 49,600 10.00 496 13,499 Kohinoor Spinning Mills Limited 6,290,000 10.00 62,900 108,744 Kot Addu Power Company Limited 79,422,000 10.00 794,220 3,688,420 Mughal Steel Limited 140,500 10.00 1,405 11,609 Nishat Chunian Power Limited 18,306,500 10.00 183,065 349,216 Oil & Gas Development Company Limited 1,210,000 10.00 12,100 185,429 Pakistan Telecommunication Company Limited 28,136,997 10.00 281,370 597,349 Pakistan Petroleum Limited 500,000 10.00 5,000 86,929 Pakistan State Oil Limited 300,000 10.00 3,000 123,816 Saif Power Limited 10,324,500 10.00 103,245 342,358 Soneri Bank Limited 22,291,500 10.00 222,915 337,310

16,007,107

Investments in Real Estate Investment TrustDolmen City REIT 41,690,000 10.00 416,900 458,590

Investments in preference shares

Masood Textile Mills Limited 3,666,668 10.00 36,667 36,667 JSC Alliance Bank 95,720 3,510 335,969 335,969

372,636

Annexure 'A' as referred to in note 9.8 of the Bank's unconsolidated financial statements

(Rupees in '000)

2) Particulars of investments held in unlisted companies

InvesteePercentage of holding

(%)

Number of shares /

certificates held

Break-up value per

share

Paid up value per

shareCost

Based on audited

accounts as at

Name of Chief Executive

Rupees Rupees (Rupees

'000)

Shareholding more than 10%

Pakistan Agricultural Storage & Services Corporation Limited

18.3% 5,500 216,939 1,000 5,500 31-Mar-16 Capt (R) Tariq Masud

Cinepax Limited 14.6% 5,037,200 15 10 50,372 30-Jun-16 Hashim Raza

Shareholding upto 10%

World Bridge Connect Inc. 9.9% 1,979,295 - - 77,606 Not available Not available

First Women Bank Limited 2.7% 7,698,441 9 10 21,100 31-Dec-15 Ms. Tahira Raza

National Institutional Facilitation Technologies (Pvt.) Limited

9.1% 2,266,607 33 10 1,526 30-Jun-16 Haider Wahab

National Investment Trust Limited 8.3% 79,200 9,088 100 100 30-Jun-16 Shahid Ghaffar

News-VIS Credit Information Services (Pvt.) Limited

4.7% 32,500 - 10 325 30-Jun-16 Faheem Ahmad

Techlogix International Limited 4.4% 4,455,829 4 - 50,702 31-Dec-15 Mr.Salman Akhtar & Kewan Khawaja (Co Chief Executive)

Kay Textile Mills Limited Not available 377,800 - - 3,778 Not available Not available

SME Bank Limited 1.7% 3,975,003 1 10 26,950 31-Dec-15 Ihsan ul Haq Khan

SWIFT 0.0% 25 387,225 13,825 2,905 31-Dec-15 Gottfried Leibbrandt

MasterCard Incorporated 0.0% 461 547 - - 31-Dec-15 Ajay Banga

The Benefit Company B.S.C 0.4% 216 - 27,938 2,220 31-Dec-13 Abdul Wahid Janahi

243,084


3) Particulars of bonfs

PrincipalInterest/

Profit(Rupees in

'000)

Available for sale securities

Government of Pakistan Sukuk Government of Pakistan Ijarah Sukuk - XV Maturity Bi-annually Cut off yielf of 6M T-Bills minus 200 bps 409,000 Government of Pakistan Ijarah Sukuk - XVI Maturity Bi-annually Cut off yielf of 6M T-Bills minus 50 bps 4,000,000 Islamic Republic of Pakistan 2019 - Sukuk Maturity Bi-annually 6.750% 2,092,052 Islamic Republic of Pakistan 2021 - Sukuk Maturity Bi-annually 5.500% 732,219

7,233,271

Government of Pakistan - EurobondsIslamic Republic of Pakistan - 2017 - Eurobond At Maturity Bi-annually 6.875% 4,168,154 Islamic Republic of Pakistan - 2019 - Eurobond At Maturity Bi-annually 7.250% 2,013,091 Islamic Republic of Pakistan - 2024 - Eurobond At Maturity Bi-annually 8.250% 7,349,529 Islamic Republic of Pakistan - 2025 - Eurobond At Maturity Bi-annually 8.250% 523,013

14,053,787

Foreign bonds - sovereignAngola 2019 At Maturity Quarterly 7.000% 481,577 Arab Republic of Egypt 2020 At Maturity Bi-annually 5.750% 778,628 Arab Republic of Egypt 2025 At Maturity Bi-annually 5.875% 313,958 Government of Dubai Bond 2020 At Maturity Bi-annually 7.750% 1,606,850 Government of Dubai Bond 2022 At Maturity Bi-annually 6.450% 1,408,165 Kingdom of Bahrain Bond 2020 At Maturity Bi-annually 5.500% 1,099,823 Kingdom of Bahrain Bond 2026 At Maturity Bi-annually 7.000% 834,141 Kingdom of Jordan 2026 At Maturity Bi-annually 6.125% 730,183 Republic of Ghana 2017 At Maturity Bi-annually 8.500% 281,102 Republic of Kenya At Maturity Bi-annually 5.875% 1,586,051 Republic of Nigeria 2023 At Maturity Bi-annually 6.375% 1,036,785 Republic of Sri Lanka Bond 2020 At Maturity Bi-annually 6.250% 1,112,473 Republic of Sri Lanka Bond 2021 At Maturity Bi-annually 6.250% 824,530 Republic of Sri Lanka 2022 At Maturity Bi-annually 5.875% 1,344,232 Republic of Sri Lanka 2026 At Maturity Bi-annually 6.825% 522,175 Republic of Turkey At Maturity Bi-annually 6.250% 870,513 Republic of Vietnam At Maturity Bi-annually 4.800% 313,392 State of Qatar Bond 2030 At Maturity Bi-annually 9.750% 2,676,084 Turkey Sukuks 21 At Maturity Bi-annually 4.251% 41,839 United Republic of Tanzania At Maturity Bi-annually 7.250% 1,388,375

19,250,876

Foreign bonds - othersBank of Ceylon 2017 At Maturity Bi-annually 6.875% 494,945 CBQ Finance 2019 At Maturity Bi-annually 7.500% 479,724 Dubai Electricity and Water Authority 2018 At Maturity Bi-annually 3.000% 3,345,949 Dubai Electricity and Water Authority 2020 At Maturity Quarterly 7.375% 1,521,252 EMAAR 2019 At Maturity Bi-annually 6.400% 905,811 Emirates Airlines 2023 At Maturity Bi-annually 3.875% 424,570 Ezdan Sukuk Co Ltd At Maturity Bi-annually 4.375% 130,743 IPIC GMTN 2022 At Maturity Bi-annually 5.500% 207,805 Jebel Ali Free Zone Authority 2019 At Maturity Bi-annually 7.000% 984,165 MAF GLOBAL 2019 At Maturity Quarterly 5.250% 507,411 PTA Bank 2018 At Maturity Bi-annually 6.375% 300,485 Qatari Diar QSC - 2020 At Maturity Bi-annually 5.000% 197,710

9,500,569

Annexure 'A' as referref to in note 9.8 of the Bank's unconsolifatef financial statements

InvesteeTerms of Refemption

Rate of Interest/ProfitOutstanding

Amount

Annexure 'A' as referref to in note 9.8 of the Bank's unconsolifatef financial statements

3) Particulars of bonds (Contd.)

PrincipalInterest/

Profit(Rupees in

'000)

Held to maturity securities

Government of Pakistan - Eurobonds

Islamic Republic of Pakistan - 2017 - Eurobond At Maturity Bi-annually 6.875% 4,596,408 Islamic Republic of Pakistan - 2024 - Eurobond At Maturity Bi-annually 8.250% 1,777,654 Islamic Republic of Pakistan - 2025 - Eurobond At Maturity Bi-annually 8.250% 523,014

6,897,076

Government of Pakistan Sukuk At Maturity Bi-annually 5.500% 683,000

SukuksAl Baraka Bank (Pakistan) Limited Bi-annually Bi-annually 6M KIBOR plus 125bps 178,571 B.R.R Guardian Modaraba Monthly Monthly Deferred interest installment @ 1 month

KIBOR13,122

Fatima Fertilizer Company Limited Bi-annually Bi-annually 6M KIBOR plus 110bps 852,000 K-Electric Limited Bi-annually Quarterly 3 month KIBOR plus 100 bps 2,500,000 Neelum Jehlum Hydropower Company (Pvt) Limited Bi-annually Bi-annually 6M KIBOR plus 113bps 3,575,000 Pakistan International Airlines Limited* Bi-annually Bi-annually 6 month KIBOR plus 175 bps 890,000 Sitara Peroxide Limited Monthly Monthly 1 Months KIBOR plus 100 bps 118,110 Sui Northern Gas Pipelines Limited Bi-annually Bi-annually 6M KIBOR plus 110bps 586,128 WAPDA Bonds - Sukuk II At Maturity Bi-annually 6M KIBOR minus 25bps 8,447 WAPDA Bonds - Sukuk III At Maturity Bi-annually 6M KIBOR plus 100bps 303,572

9,024,950

Foreign bonds - sovereignArab Republic of Egypt At Maturity Bi-annually 5.875% 313,928 Arab Republic of Egypt 2020 At Maturity Bi-annually 5.750% 779,020 Bahrain 2026 At Maturity Bi-annually 7.000% 834,141 Kingdom of Jordan 2026 At Maturity Bi-annually 6.125% 730,570 Qatar Government Bonds 2030 At Maturity Bi-annually 9.750% 1,015,183 Republic of Kenya At Maturity Bi-annually 5.875% 811,257 Republic of Sri Lanka 2020 At Maturity Bi-annually 6.250% 261,237 Republic of Sri Lanka 2022 At Maturity Bi-annually 5.875% 208,142 Republic of Sri Lanka 2025 At Maturity Bi-annually 6.850% 522,696 Republic of Sri Lanka 2026 At Maturity Bi-annually 6.825% 522,698 Republic of Tanzania At Maturity Bi-annually 7.250% 205,476 Republic Of Turkey At Maturity Bi-annually 6.250% 362,351 Turkey Sukuk 21 At Maturity Bi-annually 4.251% 41,835

6,608,534

Foreign securities - othersEzdan Sukuk Co Ltd At Maturity Bi-annually 4.375% 130,743 JSC Alliance Bank - US $ Discount Bonds At Maturity Quarterly 10.500% 226,866

357,609 JSC Alliance Bank - US $ Recovery Notes At Maturity N/A N/A 322,399

680,008

*These sukuks are classified, however no provision has been maintained as these are secured by Government of Pakistan guarantee.

4) Particulars of Debentures

Principal Interest(Rupees in

'000)

Private SectorEffef Industries Limited Overdue Overdue 11.00% 1,017 Effef Industries Limited Overdue Overdue 14.00% 379 Khyber Textile Mills Limited Overdue Overdue 14.00% 394 Morgah Valley Limited Overdue Overdue 11.00% 316 Morgah Valley Limited Overdue Overdue 14.00% 160

2,266

InvesteeTerms of Redemption

Rate of InterestOutstanding

Amount

InvesteeTerms of Redemption

Rate of Interest/ProfitOutstanding

Amount

5) Particulars of investments in term finance certificates

Investee No. of

Certificates held

Paid up value per certificate

Total Paid up value

Outstanding Amount


(Rupees) (Rupees in '000)Available for sale securities

Unlisted

Azgard Nine Limited 12,944 5,000 64,720 64,720 Ahmed H. ShaikhFaysal Bank Limited 46,000 5,000 230,000 114,770 Nauman AnsariPakistan International Airlines Corporation TFC* 1,700 5,000 8,500 8,498 Nasser N S Jaffer

187,988 Listed

Azgard Nine Limited 60,000 5,000 300,000 97,615 Ahmed H. ShaikhNIB Bank Limited TFC 30,000 5,000 150,000 149,850 Atif R. BokhariBank Alfalah Limited TFC 24,200 5,000 121,000 120,831 Atif Bajwa

368,296

556,284

Held to Maturity

Unlisted

Pakistan International Airlines Corporation TFC* 408,867 5,000 2,044,335 1,659,690 Nasser N S JafferSecurity Leasing Corporation Limited 40,000 5,000 200,000 30,807 Mohammed Khalid AliFaysal Bank Limited 24,000 5,000 120,000 59,880 Nauman AnsariAl-Azhar Textile Mills Limited 14 774,670 10,845 5,418 Mirza Aurangzeb Baig Bentonite (Pakistan) Limited 14 268,894 3,765 3,417 Khalid ShakeelCast-N-Link Products Limited 16 1,064,039 17,025 2,549 Nisar AhmedIndependent Media Corporation 20,000 5,000 100,000 35,000 Mir Shakil Ur Rahman Standard Chartered Bank Pakistan 75,000 5,000 375,000 375,000 Shahzad DadaAzgard Nine Limited 12,297 5,000 61,485 61,115 Ahmed H. ShaikhAskari Commercial Bank Limited 120,000 5,000 600,000 599,520 Syed Majeedullah HusainiWAPDA 300,000 5,000 1,500,000 1,071,430 Zafar Mahmood

3,903,826 Listed

Bank Alfalah Limited 48,600 5,000 243,000 242,660 Atif BajwaNIB Bank Limited 30,000 5,000 150,000 149,850 Atif R. BokhariSoneri Bank Limited 83,833 5,000 419,165 418,997 Muhammad Aftab Manzoor

811,507

4,715,333

*These TFCs are classified, however no provision has been maintained as these are secured by Government of Pakistan guarantee.

6) Particulars of participation term certificates

(Rupees) (Rupees in '000)

Morgah Valley Limited 16 29,250 468,000 436 Air Marshal (Retd.) A. Rahim KhanZamrock Fibers Glass Limited 12 32,833 394,000 2,359 Mr. S. Zamir Syed

2,795


InvesteeNo. of

Certificates held

Paid up value per certificate

Total Paid up value

Outstanding Amount


7) Quality of investments classified as available for sale (AFS)

Investee Market Value Credit Rating(Rupees in '000)

Investments in ordinary shares

Agritech Limited 202,574 UnratedAisha Steel Mills Limited 13,654 UnratedAmreli Steels Limited 18,312 UnratedDP World 12,685 Baa3Engro Corporation Limited 474,135 AAEngro Fertilizers Limited 453,359 AA-Fatima Fertilizer Company Limited 826,336 AA-Fauji Cement Limited 743,820 UnratedFauji Fertilizer Company Limited 1,852,568 UnratedFauji Fertilizer Bin Qasim Limited 2,391,456 UnratedGhani Gases Limited 399,622 UnratedGhani Global Glass Limited 70,226 UnratedGharibwal Cement Limited 606,290 UnratedHub Power Company Limited 4,715,639 AA+Hum Network Limited 89,940 A+Indus Dyeing Manufacturing Company Limited 349,950 A+Kohat Cement 14,465 UnratedKohinoor Spinning Mills Limited 43,087 UnratedKot Addu Power Company Limited 6,258,454 AA+Mughal Steel Limited 12,386 UnratedNishat Chunian Power Limited 1,015,645 A-Oil & Gas Development Company Limited 200,074 UnratedPakistan Telecommunication Company Limited 471,055 UnratedPakistan Petroleum Limited 94,090 UnratedPakistan State Oil Company Limited 130,263 AASaif Power Limited 367,139 A+Soneri Bank Limited 393,445 AA-

22,220,669

Investments in Real Estate Investment TrustDolmen City REIT 453,170 AM2

Investee Cost Credit Rating(Rupees in '000)

Investments in preference shares

Masood Textile Mills Limited 36,667 UnratedJSC Alliance Bank 335,969 Caa2

372,636

Investments in unlisted shares

Shareholding more than 10%Pakistan Agricultural Storage & Services Corporation Limited 5,500 UnratedCinepax Limited 50,372 Unrated

Shareholding upto 10%World Bridge Connect Inc. 77,606 UnratedFirst Women Bank Limited 21,100 A-National Institutional Facilitation Technologies (Pvt.) Limited 1,526 UnratedSME Bank Limited 26,950 BKay Textile Mills Limited 3,778 unratedTechlogix International Limited 50,702 unratedSWIFT 2,905 unratedNational Investment Trust Limited 100 AM2+News-VIS Credit Information Services (Pvt.) Limited 325 unratedMasterCard Incorporated - A2The Benefit Company B.S.C 2,220 unrated

243,084


7) Quality of investments classified as available for sale (AFS)

Particulars Market Value Credit Rating(Rupees in '000)

Federal Government SecuritiesMarket Treasury Bills 73,041,975 Unrated - Government SecuritiesPakistan Investment Bonds 295,568,204 Unrated - Government Securities

368,610,179

Government of Pakistan Ijarah SukukGovernment of Pakistan Ijarah Sukuk 7,466,264 Score7

Government of Pakistan - Euro bondIslamic Republic of Pakistan - 2017 - Euro Bond 4,303,624 Score7Islamic Republic of Pakistan - 2019 - Euro Bond 2,088,931 Score7Islamic Republic of Pakistan - 2024 - Euro Bond 7,652,550 Score7Islamic Republic of Pakistan - 2025 - Euro Bond 574,090 Score7

14,619,195

Foreign bonds - sovereignAngola 2019 473,585 Score5,6Arab Republic of Egypt 2020 774,739 Score6Arab Republic of Egypt 2025 303,341 Score6Government of Dubai Bond 2020 1,697,484 Score2Government of Dubai Bond 2022 1,504,818 Score2Kingdom of Bahrain Bond 2020 1,113,897 Score4Kingdom of Bahrain Bond 2026 868,461 Score4Kingdom of Jordan 2026 706,599 Score5Republic of Ghana 2017 282,494 Score5,6Republic of Kenya 1,618,646 Score6Republic of Nigeria 2023 983,432 Score5,6Republic of Sri Lanka Bond 2020 1,133,262 Score6Republic of Sri Lanka Bond 2021 807,452 Score5,6Republic of Sri Lanka 2022 1,333,871 Score6Republic of Sri Lanka 2026 479,900 Score6Republic of Turkey 822,023 Score4Republic of Vietnam 309,558 Score5,6State of Qatar Bond 2030 2,726,164 Score3Turkey Sukuks 21 40,637 Score4United Republic of Tanzania 1,438,235 Score6

19,418,597

Foreign bonds - othersBank of Ceylon 2017 495,898 B+CBQ Finance 2019 494,032 A2Dubai Electricity and Water Authority 2018 3,383,201 BBB+Dubai Electricity and Water Authority 2020 1,624,155 BBB+EMAAR 2019 91,005 Baa3Emirates Airlines 2023 1,312,874 UnratedEzdan Sukuk Co Ltd 129,926 Ba1IPIC GMTN 2022 202,600 aa2Jebel Ali Free Zone Authority 2019 1,016,413 BBB-MAF GLOBAL 2019 524,477 UnratedPTA Bank 2018 304,028 BBQatari Diar QSC - 2020 201,633 Unrated

9,780,241

Term finance certificates

ListedAzgard Nine Limited 97,615 DefaultedBank Alfalah Limited TFC 124,007 AA-

NIB Bank TFC 151,552 A+373,174

UnlistedAzgard Nine Limited 64,720 DefaultedFaysal Bank Limited 115,700 AAPakistan International Airlines Corporation TFC 8,498 Defaulted

188,918


Annexure 'B' as referred to in note 10.4 of the Bank's Unconsolidated and Consolidated Financial StatementsDetails of loans write offs of Rs. 500,000 and above Rs. in '000

S.No. Name and AddressName of individuals /

partners / proprietors / directors

CNIC Number Father / Husband Name Principal Interest / Markup (Debited)

Interest / Markup

(Undebited)

Interest / Markup (Total)

Others (Debited)

Others (Undebited)

Others (Total) Total Principal

Interest / Markup (Debited)

Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)

Others (Total) Total

1 M/S Mehran Filling Station Malakand Road Sari Bahlol Takht Bhai Distt Mardan

Aziz Ur Rehman 16102-5371249-3 Habib ur Rehman 1,720 - 1,299 1,299 - - - 3,019 - - 1,299 1,299 - - - 1,299

2 Al Abid Silk Mills Ltd A-39 Manghopir Road S.I.T.E. , Karachi

Naseem A. SattarAzim Ahmed SattarQamar MashkoorMuhammad Sajid HafeezMst. Adia NaseemMrs. Sadaf NadeemS. M. Jawad Azam

42301-0840043-142301-0912143-9

NANA

42301-0783384-442301-0878886-842201-8147445-3

Sheikh Abdul Sattar Naseem A. Sattar NANA Naseem A. Sattar Nadeem Younus Syed Muhammad Farooq Azam

550,026 - 53,304 53,304 - - - 603,330 550,026 - 53,304 53,304 - - - 603,330

3 Blue Star Spinning Mills Ltd 1) H/ No. 10-A, Mohallah Rehman Society Bahawalpur.2) 30 Km, Hasilpur Road, Lal Sohanra Bawalpur

(1) Ch. Ijaz Safdar(2) Ch. Qaiser Munir(3) Mst. Mahreen Safdar (4) Ch. Fazal Ahmed(5) Ch. Umair Hameed (6) Mrs. Jamila Safdar(7) Ch. Faisal Munir

31202-5578881-531202-9087688-131202-1632473-6

NANA

31202-8253395-033100-3413361-5

Ch. Safdar HussainCh. Munir AhmedCh. Qaiser MunirCh. Hukam DinCh. Abdul HameedCh. Safdar HussainCh. Munir Ahmed

276,407 28,267 36,551 64,818 - - - 341,225 276,407 28,267 36,551 64,818 - - - 341,225

4 Genertech Pakistan Ltd 49Km, Lahore- Multan Road, Near Bhai Pheru, District, Kasur

(1) Jahangir Elahi, (2) Tanvir Elahi(3) Alamgir Elahi(4) Aamir Jahangir(5) Ahmed Jahangir

35202-2561094-5NANA

35202-0676798-735202-5010274-5

Sheikh Ehsan ElahiNANAJahangir ElahiJahangir Elahi

154,429 - 184,702 184,702 - - - 339,131 154,429 - 184,702 184,702 - - - 339,131

5 Jannat Industries Jannat House, Gojra Road, Civil Line, Jhang

Mushtaq AhmedAkhtar HussainAshfaq M. Khan

35200-1435244-533202-1432066-333202-5959524-7

Muhammad Khan 148,751 - 6,276 6,276 - - - 155,027 148,751 - 6,276 6,276 - - - 155,027

6 Saad Oriental Carpets 427-428, Block G-4, Johar Town, Lahore

Mian Ijaz-ur-RehmanMian Anees-ur-RehmanMian Ateeq-ur-Rehman

35202-3807763-335202-9214582-735202-6803404-1

Mian Abdul rehman 188,074 - 105,535 105,535 - - - 293,609 8,074 - 105,535 105,535 - - - 113,609

7 Nawaz Ghee & Oil Mills Ltd 19- Islamia Club Building, Khyber Bazar Peshawar CityPlot # 115, L-5, Industrial Estate, Gadoon Amazai, Peshawar

Al- Haj Rab Nawaz KhanNaveeda NawazArbab MuhammadNawaz Khan(Late)Mrs. Mahmood Begum(Late)

17301-6397377-117301-0663158-217301-9669283-5

s/o Mr. Nawaz Khan(late)w/o Rab Nawaz Khans/oHaji Rab Nawaz Khan

25,595 11,613 64,128 75,742 - - - 101,336 - 11,208 64,128 75,336 - - - 75,336

8 Bhatti Spinning Mills Pvt Ltd 4 Km, Raiwand Road Kausar

Muhammad Iqbal BhattiMaqbool Ahmed BhattiMaqsood Ahmed BhattiKhalid Mehmood

35202-7936106-1 35202-7363588-3 35202-

3032294-1 35202-5703019-7

Muhammad Din BhattiMuhammad Din BhattiMuhammad Din BhattiRehmat Ali

61,800 - 49,101 49,101 - - - 110,901 7,300 - 49,101 49,101 - - - 56,401

9 Fashionwear Pvt Ltd F-200,S.I.T.E Karachi

Waqar Haider ButtSaqib Haider ButtAamir Haider ButtMs. Munawar Jabeen

42301-0978189-742301-0705547-542301-0978190-742301-0887543-2

Ghulam Haider ButtWaqar Haider ButtWaqar Haider ButtWaqar Haider Butt

84,336 - 47,589 47,589 - - - 131,925 - - 46,925 46,925 - - - 46,925

10 Qureshi Rice Mills Jhat Pat Road, Usta Muhammad

Haji Sohara Khan 53404-6375116-7 Haji Hazar Khan 19,950 - 33,528 33,528 - - - 53,479 5,195 - 33,528 33,528 - - - 38,724

At the beginning Written off





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



11 Kashir Textile Mils Tld Office No. 1, P-208, Tikka Gali No. 1, Yarn Market, Faisalabad

Mian Zahid AslamMian Abid AslamMian Hamid AslamImran ZahidFarhan AbidMst. Zaib-un-Nisa HamidUsman Zahid

33100-0613745-733100-6916435-933100-0641681-733100-5146568-533100-0164574-733100-0615377-433100-0708998-9

Mian M. AslamMian M. AslamMian M. AslamMian Zahid AslamMian Abid AslamMian Hamid AslamMian Zahid Aslam

91,257 - 23,670 23,670 - - - 114,927 - - 23,670 23,670 - - - 23,670

12 Quality Export Inrternational 4/90 Sector 21, Korangi Industrial Area Karachi

Mr. Atta-ul-Haq Siddiqui 42201-0374874-9 Muhammad Sadiq 31,756 - 19,647 19,647 - - - 51,403 - - 19,635 19,635 - - - 19,635

13 Chistia Sugar Mills Ltd 187-A Scotch Corner, Upper Mall, Lahore

Muhammad Masood TahirFaisal Jawad BhattiRehmat AliWaseem Qaiser BhattiRahat Shakeel Bhatti

38403-2266601-935202-2619201-335202-2916919-135202-5501486-935202-2463651-6

Rab NawazShakeel Mahmood BhattiMuhammad TufailAshiq Muhammad BhattiShakeel Mahmood Bhatti

110,258 - 19,599 19,599 - - - 129,857 - - 19,599 19,599 - - - 19,599

14 Dost Sons Cotton Mills Pvt Ltd 101, Chappal Plaza, Hasrat Mohani Road Karachi

Jamal IftikharZahid Iftikhar

42301-0932772-342301-0932771-9

Iftikhar AhmedIftikhar Ahmed

13,000 - 19,279 19,279 - - - 32,279 - - 19,279 19,279 - - - 19,279

15 Plastic Pack Pvt Ltd 3 & 4, Society Apartment, 1St Floor, P.E.C.H.S. Block-2, Karachi

Dr. Ishtiaq AhmedArshad Javaid KhawajaRehmatullah GhouriMuhammad Shabbir Chaudhry

42201-8219476-9246-49-330486517-27-266558

Lal HussainMuhammad Sanaullah KhawajaDr. Asadullah Khan Ghouri

3,400 704 12,526 13,230 - - - 16,630 3,400 704 12,526 13,230 - - - 16,630

16 Chevrolet Johar Town Motors 410, G-Iv, Ma Johar Town Lahore

Mian Saeed-ur-Rehman 35202-1039847-7 Mian Abdul rehman 28,500 - 16,359 16,359 - - - 44,859 - - 16,359 16,359 - - - 16,359

17 Sartaj Polysacks 132/3, Industrial Area, Kot Lakhpat Lahore

Noman Kabir 35202-3963932-7 Mian Abdul Kabir 102,191 - 8,180 8,180 - - - 110,371 4,999 - 8,180 8,180 - - - 13,179

18 New Al-Hilal Corporation 5.5 Km, Raiwind Road, Tokhar Niaz Baig, Lahore

Sh. Shaukat Ali 35202-1215674-3 Sh. Muhammad Siddique 23,625 - 2,234 2,234 - - - 25,859 6,428 - 2,234 2,234 - - - 8,662

19 Travel Tips International 714-Kamran Block, Allama Iqbal Town Lahore

Abdul RehmanTahir RehmanMrs. Shaheen RehmanMrs Musarat Zia-ul-Islam

35202-7003352-5 35202-5571794-1 35202-5800586-

8 276-52-442960

Fazal-ur-RehmanFazal-ur-RehmanAbdul RehmanZia-ul-Islam

977 - 5,628 5,628 - - - 6,605 977 - 5,628 5,628 - - - 6,605

20 Texto Products Pvt Ltd 16-Noor Estate, Shahrah-E-Faisal Karachi

Muhammad IrshadMrs. Ishrat JahanMuhammad ShamshadMrs. AlamgirahMrs. Jehan Tab

M.Tahheed 2,713 1,586 1,921 3,508 - - - 6,221 2,713 1,586 1,921 3,508 - - - 6,221

21 Arsel Enterprises 10 Commercial Zone, Dubai Chowk Ait Lahore

Rao Naveed AkhterRao Mubarik Ali

35202-2915061-535202-2925163-9

Habib KhanHabib Khan

42,000 - 5,476 5,476 - - - 47,476 - - 5,476 5,476 - - - 5,476

22 Amira Textile (Pvt) Ltd Off Manga Road, Riwind, Lahore

Muhammad Akram KhanShahid Akram KhanFaisal Akram KhanAmira Akram Khan

35201-2815241-935201-0669574-535201-0666582-635201-3256067-4

Abdul RaheemM. Akram KhanM. Akram KhanM. Akram Khan

39,502 - 5,216 5,216 - - - 44,718 - - 5,215 5,215 - - - 5,215

23 M. Iqbal Construction Company (Pvt) Ltd. C-28 Sector 11-B, North Karachi

Rao Muhammad Shakeel IqbalRao Muhammad Khaleel Iqbal

42000-0561720-9 Rao Muhammad IqbalRao Muhammad Iqbal

7,500 - 4,349 4,349 - - - 11,849 - - 4,149 4,149 - - - 4,149





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



24 Computer Touch Suit # 16, Third Floor, Hafeez Center Gulberg Lahore

Rana Nadeem HussainRana Mubeen Hussain

35201-9555048-935201-9544693-9

Rana Ghullam HussainRana Ghullam Hussain

9,000 - 3,890 3,890 - - - 12,890 - - 3,890 3,890 - - - 3,890

25 Usman Medicine Co. Police Line Road Multan

Ishtiaq Ahmed Bhatti 36302-0477517-5 Allah Datta Bhatti 4,107 - 3,589 3,589 - - - 7,697 - - 3,447 3,447 - - - 3,447

26 Mughal International House No.137, Gali No.13, Gulbahar No.2, Peshawar City, Peshawar

Mirza Shafqat Javed 17301-1412381-1 Mirza Abdul Wadadood 3,500 - 3,123 3,123 - - - 6,623 - - 3,123 3,123 - - - 3,123

27 Faridia Tradres Ghallan Mandi Main Bazar Sahiwal

Mr. Shahid Ahmad 36502-7652185-3 Muhammad Boota 6,250 - 3,248 3,248 - - - 9,498 - - 3,098 3,098 - - - 3,098

28 Abdul Mannan Moh Taous Khel Maneri Payan P.O Tehsil & District, Swabi

Abdul Mannan 16202-4547324-5 Shah Randaan 917 - 3,262 3,262 - - - 4,179 - - 3,079 3,079 - - - 3,079

29 Irfan Steel H # 14, St # 67, Elahi Park, Misri Shah, Lahore

Muhammad Irfan 35202-73434901-1 Muhammad Mushtaq 30,000 - 3,043 3,043 - - - 33,043 - - 3,043 3,043 - - - 3,043

30 Teejays Exclusive (Pvt) Ltd. 37-T Block-6, Pechs, Karachi

Tanveer Jamshed Jamshed Alam 675 2,246 - 2,246 - - - 2,921 575 2,246 - 2,246 - - - 2,821

31 Ramzan & Co. 2,596 - - - - - - 2,596 2,596 - - - - - - 2,59632 Azeem Rice Mills

Faisalabad Road, Near Bye Pass Chowk, Sheikhupura

Fazal AhmedKhadim HussainQamar NaeemSakhi MuhammadAnjum Nadeem

35404-2028827-535404-1561484-735404-2416930-535404-8705849-735404-0845118-9

M. IbrahimM. IbrahimFazal AhmedKhadim HussainFazal Ahmed

34,000 - 2,593 2,593 - - - 36,593 - - 2,593 2,593 - - - 2,593

33 Wahid Engineering Oden Street, Samandari Road, Faisalabad

Abdul Waheed 33102-1768635-9 Abdul Wahid 8,000 - 2,569 2,569 - - - 10,569 - - 2,569 2,569 - - - 2,569

34 Kraftsman Associates 51-D, Commercial Area "A" Defence Market, Karachi

Ali Ameer ShaikhAli Tanveer ShaikhAli Jawaid ShaikhMrs. Qurrat RizviMrs. Nazia ShaikhMrs. Surraya Mumtaz

35201-8879857-9 Mumtaz Manzoor 1,009 1,009 393 1,402 - - - 2,411 1,009 1,009 393 1,402 - - - 2,411

35 Al Rasheed Petrolium Khewat No.99 Mouza Dhomra Shumali Tehsil Tounsa Distt.D.G.Khan

Sardar Noman Sher QaisraniSardar Numair Khan Qaisrani

32103-5199299-735201-3398036-1

3,000 - 2,664 2,664 - - - 5,664 - - 2,351 2,351 - - - 2,351

36 Al Rasheed Cotton Khewat No.99 Mouza Dhomra Shumali Tehsil Tounsa Distt.D.G.Khan

Sardar Salman Sher QaisraniMst.Asia SalmanSardar Imran Sher KhanSardar Noman Sher

35201-9945895-735201-8872539-036302-3635521-932103-5199299-7

7,187 - 2,242 2,242 - - - 9,429 - - 2,242 2,242 - - - 2,242

37 Nizam Impex 63, Pma Building, Nicol Road, Karachi313, Chapal Plaza, 3Rd Floor, Hasrat Mohani Road, Karachi

Essa AbdullahMuhammad AslamMuhammad AminMuhammad SaleemMuhammad IqbalM. Arif

42201-1186759-542301-5995980-5

501-51-04424642201-9038990-342201-9529086-7

AbdullahEssa AbdullahA. RahmanA. RahmanA. RahmanA. Rahman

1,970 239 - 239 - - - 2,209 1,970 239 - 239 - - - 2,209

38 Shafi Uddin Shafiq 183-C, Gulshan Ravi Lahore

Shafi Uddin Shafique 35202-4633941-5 Salahuddin Ghazi 5,660 - 1,995 1,995 - - - 7,655 - - 1,925 1,925 - - - 1,925

39 Shakeel Rice Dealer Ghalla Mandi, Qila Didar Singh, Gujranwala.

Shabbir AhmedAmjad Shakeel

34101-2476426-334101-2424650-1

Bashir AhmedHabib Ahmed

5,000 - 1,998 1,998 - - - 6,998 - - 1,898 1,898 - - - 1,898





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



40 Shan Agro Chemicals 57-B Grain Market Vehari

Muhammad AjazMst.Farhat NaseemAbdul RaufMirza Ijaz Baig

36603-2213761-136603-5376210-436603-4543941-136603-1372140-1

Muhammad MukhtarMuhammad AjazAbdul LatifMirza Abdul Hayee

740 - 2,354 2,354 - - - 3,094 - - 1,894 1,894 - - - 1,894

41 Nauman Sadiq News Publication Pvt Ltd 15-L, Gulberg Iii, Lahore

Mahmood SadiqUzma Sadiq

35201-3651617-935201-5809407-2

Ghulam SadiqMahmood Sadiq

4,500 - 1,896 1,896 - - - 6,396 - - 1,796 1,796 - - - 1,796

42 Abdul Salam Cold Storage Mouza Mehmood Booti Bund Road, Lahore

Mr. Abdul Salam 35202-2881087-1 Haji Muhammad Yaqoob 24,500 - 1,679 1,679 - - - 26,179 - - 1,679 1,679 - - - 1,679

43 Syed Ahsan Ali Flat # C-2, Rabia Gardens Block-17, Gulsitan-E-Jauhar Karachi

Syed Ahsan Ali 42101-9531222-9 Syed Ale Ali 3,033 - 1,766 1,766 - - - 4,799 - - 1,599 1,599 - - - 1,599

44 Tariq & Conmpany Aliabad Road, Usta Muhammad, District Jafferabad, Balochistan

Abdul Rab Rind 53404-9323490-3 Ghulam Sarwar Khan Rind 5,008 - 1,537 1,537 - - - 6,545 - - 1,537 1,537 - - - 1,537

45 Muhammad Mushtaq H # 14, St # 67, Elahi Park, Misri Shah, Lahore

Muhammad Mushtaq 35202-9123076-9 Muhammad Ibrahim 15,000 - 1,520 1,520 - - - 16,520 - - 1,520 1,520 - - - 1,520

46 Zia Sports (Pvt) Ltd. Karimpura Opposite Dar Ul Shafqat, Maharaja Road, Sialkot

Sh. Arif MahmoodSh. Khurram KhalidSh. Usman Arif

34603-2266624-734603-3692092-134603-2278366-1

Sh. Muhammad FazalSh. Khalid MahmoodSh. Arif Mahmood

23,834 - 1,460 1,460 - - - 25,294 - - 1,460 1,460 - - - 1,460

47 Cheema Iron Store Kalaske, Tehsil Wazirabad, District Gujranwala

Muhammad Naseem 34104-1947672-9 Muhammad Sharif 4,000 - 1,397 1,397 - - - 5,397 - - 1,397 1,397 - - - 1,397

48 Rizwan Commission Shop Ghalla Mandi Jattan, Faizabad

Muhammad IshaqMrs. Tabasum IshqaMrs. Saleem AkhtarKinan ArshadMuhammad Asghar

35202-6068994-735202-1574924-435202-2746259-635402-0908312-735501-0114139-9

Muhammad IsmaeelMuhammad IshaqMuhammad HussainMuhammad ArshadMuhammad Siddique

2,700 - 1,592 1,592 - - - 4,292 - - 1,361 1,361 - - - 1,361

49 Mohiuddin Khan Mohiuddin Khan 1,330 5 - 5 - - - 1,335 1,330 5 - 5 - - - 1,33550 Pakistan Tarding

Ali Madad Rice Mill, Mandi Faizabad, Thesil & District Nankana

Zawar HussainAlamdar Hussain

35402-9279453-535402-9375308-5

475 - 1,950 1,950 - - - 2,425 - - 1,225 1,225 - - - 1,225

51 Abdul Khalique Abdul Khalique 763 410 - 410 - - - 1,173 763 410 - 410 - - - 1,17352 Masood Ur Rehman Khan

D-38, Block-8, Gulshan-E-Iqbal, Karachi

Masood Ur Rehman Khan 820 347 - 347 - - - 1,166 820 347 - 347 - - - 1,166

53 Wajid Salahuddin Flat # 201, 2Nd Floor, Al-Rehman Arcade, Sector 11-C/2, North Karachi

Wajid Salahuddine 42101-9531222-9 Muhammad salahudine 2,031 - 1,230 1,230 - - - 3,260 - - 1,160 1,160 - - - 1,160

54 Okara Gas Appliances Co. House No. 4, Mehboob Town G.T Road Okara

Rao Muhammad Iqbal 35302-2879491-1 Rao Khurshid Ali 3,000 - 1,254 1,254 - - - 4,254 - - 1,024 1,024 - - - 1,024

55 Muzafar Hussain Hydri Muzafar Hussain Hydri 992 - - - - - - 992 992 - - - - - - 992





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



56 Muhammad Yousuf Memon 1) Plot # F/36/5, Block-8, Clifton, Karachi2)63-B, Block-A, Adamjee Nagar, Khatiawar Co-Operative Housing Society, Karachi.

M. Yousuf Umer Bhai 899 88 - 88 - - - 987 899 88 - 88 - - - 987

57 Rehman Trading 2155 A/A, Ward No. X, Humayun Road,Near Chungi No.9 Multan.

Muhammad Kamran SiddiquiMuhammad Rizwan Siddiqui

322-77-963813322-80-858291

Muhammad Ali SiddiquiMuhammad Ali Siddiqui

11,499 - 985 985 - - - 12,484 - - 984 984 - - - 984

58 Textech 17/3, Luxmi Building, M.A. Jinnah Road, Karachi.

Khalid Zaheer 798 158 - 158 - - - 956 798 158 - 158 - - - 956

59 Malik M Akram Malik M Akram 925 - - - - - - 925 925 - - - - - - 92560 Abid Hussain Abid Hussain 887 - - - - - - 887 887 - - - - - - 88761 Abdul Razzak Abdul Razzak 885 - - - - - - 885 885 - - - - - - 88562 Waseem Brothers

House No. 889/Biii, Street No. 1 Mohallah Islam Colony Pakpattan

Muhammad Waseem 36402-0774755-1 SHEIKH SHOUKAT ALI 2,701 - 885 885 - - - 3,586 - - 885 885 - - - 885

63 Kasim Corp . 154/A Gali No. 12 Shershah Kyc.1/6/A Block 6, Pechs, Kyc.

Haji Abdul Aziz 42201-0405761-7 Kasim 515 347 - 347 - - - 862 515 347 - 347 - - - 862

64 Mughal Plywood & Flush Door Industries 13-Km Arifwala Road Sahiwal

Muhammad AslamMuhammad AkramMuhammad Ikram

36502-9792069-536502-8998039-536502-1803094-3

Khair DinKhair DinKhair Din

1,067 - 858 858 - - - 1,925 - - 857 857 - - - 857

65 Muhammad Iqbal Chishti Muhammad Iqbal Chishti 846 - - - - - - 846 846 - - - - - - 84666 Liaquat Ali Khan Liaquat Ali Khan 805 29 - 29 - - - 834 805 29 - 29 - - - 83467 Amin & Co.

Ghalla Mandi, Kalaske, Tehsil Wazirabad, District Gujranwala

Muhammad Amin 34104-8870501-7 Nasar Ullah Cheema 5,000 - 824 824 - - - 5,824 - - 824 824 - - - 824

68 Shahab Rice Mills 34-Km, Multan Road, Lahore

Irfan Ali Noor 35202-7320984-9 Noor Muhammad 13,200 - 801 801 - - - 14,001 - - 801 801 - - - 801

69 Uni Co Tading Co 77/C, Dh, 1St Floor, Main Korangi Road, Karachi

Akbar AliAbdul Rashid Memon

42201-0782490-1501-50-257478

Ghulam Hussain 665 134 - 134 - - - 800 665 134 - 134 - - - 800

70 Muhammad Ali Siddique Muhammad Ali Siddique 654 138 - 138 - - - 792 654 138 - 138 - - - 79271 Gss Trading Company

25-Hide Market, Sultanpura Road, Lahore.H # 86-87 St # 13 Jinnah Park Sultan Pura, Lahore

Muhammad GulzarSheikh Sheraz AhmadSajjad Ahmad

35202-3234146-335202-6051316-335202-0608407-3

Sheikh Abdul GhaniMuhammad GulzarMuhammad Gulzar

7,000 - 791 791 - - - 7,791 - - 791 791 - - - 791

72 Shams Corp. D-7, 3Rd Floor,Blessing Apartment, 1-B-2, Nazimabad, Karachi

Shahnaz Begum Masood Ahmed 764 - - - - - - 764 764 - - - - - - 764

73 Farooq Ahmed 84-B/1, Ghalib Market, Gulberg-Iii, Lahore

Farooq Ahmed 35202-0608841-7 Abdul Qayum 1,830 - 1,030 1,030 - - - 2,860 - - 760 760 - - - 760





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



74 Saleem Akhtar Saleem Akhtar 759 - - - - - - 759 759 - - - - - - 75975 Assr Traders

House # 421 Block-J Johar Town, Lahore.

Azad Pervaiz Butt 35202-2532425-5 Muhammad Abdullah Butt 2,961 - 791 791 - - - 3,752 - - 752 752 - - - 752

76 Rasheed Ahmed Rasheed Ahmed 723 4 - 4 - - - 727 723 4 - 4 - - - 72777 M.Sabir Govt Contractor

House # 363, B-4 Ansar Road Sahiwal

Muhammad Sabir 36502-1351625-9 405 - 713 713 - - - 1,118 - - 713 713 - - - 713

78 Tridul Corporation 4Th Floor, Karachi House, I.I. Chundrigar Road, Karachi

Abdullah A. Badat.M. Aslam KhanBaqi Mohammadally.Iqbal Akram

710 - - - - - - 710 710 - - - - - - 710

79 Salman & Company Room No. 30/31, Rafai Mrkaz Jodia Bazar Karachi

Yasmeen Sadruddin 684 - - - - - - 684 684 - - - - - - 684

80 Shafqat Ali Fayyaz Shafqat Ali Fayyaz 600 80 - 80 - - - 680 600 80 - 80 - - - 68081 Al Fazal Roller Flour Mills Muhammad Azeem Shah 544 136 - 136 - - - 680 544 136 - 136 - - - 680

82 Malik Ghulam Jilani Malik Ghulam Jilani 673 - - - - - - 673 673 - - - - - - 67383 Habib Ashraf Habib Ashraf 617 33 - 33 - - - 650 617 33 - 33 - - - 65084 Saima Corp.

316 Sabir Manzil, 3Rd Floor, Near Garden Cinema, Marston Road, Karachi

Irfan 516-90-374214 Muhammad Arif 647 - - - - - - 647 647 - - - - - - 647

85 Niaz Muhammad Shah Niaz Muhammad Shah 622 - - - - - - 622 622 - - - - - - 62286 Irfan Iftikhar Malik

Godown # 9-A, Rahim Road, Misri Shah, Lahore

Irfan Iftikhar Malik 35202-7968964-5 Iftikhar Hussain Malik 9,999 - 611 611 - - - 10,610 - - 610 610 - - - 610

87 Feroz Ali Khoja Feroz Ali Khoja 603 - - - - - - 603 603 - - - - - - 60388 Master Quran Company

38 Urdu Bazaar LahoreMuhammad Saeed 35202-9477438-5 Maula Baksh 6,000 - 603 603 - - - 6,603 - - 603 603 - - - 603

89 Baghdad Corporation Bahawalpur

Zahoor Ahmad 31303-2435849-3 Nazir Ahmad 944 - 897 897 - - - 1,841 - - 601 601 - - - 601

90 Sandhal Cotton 600 - - - - - - 600 600 - - - - - - 60091 Nayyar Perveen Nayyar Perveen 575 - - - - - - 575 575 - - - - - - 57592 K S G Mohiuddin & Sons

652, Bombay Bazar, Karachi

Ghulam 570 - - - - - - 570 570 - - - - - - 570

93 Habib Ashraf Habib Ashraf 565 - - - - - - 565 565 - - - - - - 56594 Pak Extbition Corp 563 - - - - - - 563 563 - - - - - - 56395 Hanif A Sattar Hanif A Sattar 557 - - - - - - 557 557 - - - - - - 55796 M. Ashraf A Habib M. Ashraf A Habib 556 - - - - - - 556 556 - - - - - - 55697 Ifra Seema Fatima Ifra Seema Fatima 554 - - - - - - 554 554 - - - - - - 55498 Khairul Bashar Khairul Bashar 540 - - - - - - 540 540 - - - - - - 54099 Sandad Shoes 503 35 - 35 - - - 538 503 35 - 35 - - - 538

100 Beco Engineering G.T Road, Gujranwala

Muhammad Dawood Asad 34101-2709841-1 Asad Ullah 904 - 641 641 - - - 1,544 - - 537 537 - - - 537

101 Sheikh Enterprises Mubarak Manzil, Jamshed Road, Karachi

Asif A. Shaikh 533 - - - - - - 533 533 - - - - - - 533

102 Paramount Toys 532 - - - - - - 532 532 - - - - - - 532103 Azam Sports

6-A Venus Housing Scheme Saroba Gardens,17-Km Ferozepur Road Lahore

Muhammad Azam 35201-2815241-9 Muhammad Hussain 1,500 - 531 531 - - - 2,031 - - 531 531 - - - 531

104 Khurshid Ali Khurshid Ali 523 - - - - - - 523 523 - - - - - - 523





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



105 Mohammad Haroon 31, Nawab Manzil, Adamjee Budda Bhai Road, Tahtae Compound, Karachi

Mohammad Haroon 511 - - - - - - 511 511 - - - - - - 511

106 Cannon Associate Engg Co 504 - - - - - - 504 504 - - - - - - 504

107 Mughal Agro Services 500 - - - - - - 500 500 - - - - - - 500108 Haji Javed Ahmed

Mouza Mujaldi Wala Tehsil & District Lodhran

Haji Javed Ahmed 36203-6815365-7 Haji Atta Muhammad 364 106 - 106 - - - 470 364 141 - 141 - - - 505

109 Ghulam Murtaza Adda Noor Pur Tehsil Pakpattan

Ghulam Murtaza 36402-6329471-7 Hakim Ghulam Muhammad 399 87 - 87 - - - 486 399 124 - 124 - - - 524

110 Muhammad Akram Chishti Mouza Chishti Qutab Din Po Basirpur Tehsil Depalpur

Muhammad Akram Chishti 35301-7299098-9 Aish Muhammad 351 141 - 141 - - - 493 351 175 - 175 - - - 526

111 Muhammad Munir Khan Basti Nooran Mouza Mahru Baloch Po Dula Bahadar Tehsil Chishtian, Distt Bahawalnagr

Muhammad Munir Khan 31102-1917435-3 Muhammad Nawaz Khan 323 185 - 185 - - - 508 323 216 - 216 - - - 539

112 Kabeer Ahmad Chak 6/1 R Renalakhurd

Kabeer Ahmad 35302-5109146-1 Abdul Sattar 350 167 - 167 - - - 517 350 200 - 200 - - - 550

113 Nazar Ahmad Ghaloo Nagar Sabra Tehsil Jalalpur Pirwala District Multan

Nazar Ahmad 36301-0970914-7 Haji Khuda Bux 305 220 - 220 - - - 525 305 249 - 249 - - - 554

114 Bashir Ahmad S/O Mouza Chishti Qutab Din Basirpur

Bashir Ahmad S/O 35301-1974423-7 Fazal Muhammad 356 184 - 184 - - - 541 356 218 - 218 - - - 575

115 Muhammad Rafique Chak No 131 Jb, Faisalabad

Muhammad Rafique 33201-1654991-3 Ahmad Ali 350 198 - 198 - - - 548 350 231 - 231 - - - 581

116 Khalid Nawaz Vill & P.O Dad Wali Sharif Teh: Wazirabad Dist: Gujranwala

Khalid Nawaz 34104-2304927-5 Muhammad Malik 350 199 - 199 - - - 549 350 232 - 232 - - - 582

117 Muhammad Yousaf So Sardar Khan Chak# 285 Rb, Rangar Nangal, P.O Same, Tehsil Safderabad, District Nankana Sahib

Muhammad Yousaf 35403-1170980-5 Sardar Khan 400 378 - 378 - - - 778 400 189 - 189 - - - 589

118 Abdul Karim Village Haji Wahid Bux Keeio, P.O & Taluka Mirpur Khas

Abdul Karim 44103-0310976-1 Haji Wahid Bux 450 99 - 99 - - - 549 450 142 - 142 - - - 592

119 Mrs. Amlan W/O Akber Akbar House Samejo Ward No 310 B Umerkot

Mrs. Amlan 44107-5340899-4 Akbar 343 226 - 226 - - - 569 343 259 - 259 - - - 601

120 Muhammad Alam S O Sanaullah Choorrhi Daal, P.O Manawala, Tehsil & District Sheikhupura

Muhammad Alam 35404-9200049-1 Sanaullah 345 517 - 517 - - - 862 345 258 - 258 - - - 603

121 Tahir Muqaddas Diyo Sial Tehsil Chunian Distt Kasure

Tahir Muqaddas 35101-1991620-9 Muhammad Ashiq 445 130 - 130 - - - 575 445 172 - 172 - - - 617





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



122 Abdul Rauf Khan Chak 110 Wb Tehsil Mailsi

Abdul Rauf Khan 36602-4309464-1 Haji Muhammad Anwar Khan

400 190 - 190 - - - 590 400 228 - 228 - - - 628

123 Zuharan Bibi W/O Abdul Khaliq Chak # 6/G Tehsil Chishtian District Bahawalnagar

Zuharan Bibi 31303-9366201-4 Abdul Khaliq 400 190 - 190 - - - 590 400 228 - 228 - - - 628

124 Asghar Ali Chak # 122/6-R Haroonabad District Bahawalnagar

Asghar Ali 31104-1755744-1 Ahmad Din 416 191 - 191 - - - 607 416 229 - 229 - - - 645

125 Pervaiz Bonga Sahby Ka Mandi Ahmad Abad Tehsil Depalpur

Pervaiz 35301-6657214-3 Abdul Khaliq 500 108 - 108 - - - 608 500 155 - 155 - - - 655

126 Abdul Hamid Ward No. 3 Fateh Pur, Tehsil Karor, Distt. Layah

Abdul Hamid 32202-2538689-5 Awan 350 279 - 279 - - - 629 350 310 - 310 - - - 660

127 Zubaida Khanam Lala Zar Colony Tehsil Wazirabad Distt. Gujranwala

Zubaida Khanam 34104-3257386-6 Sanaullah 400 228 - 228 - - - 628 400 266 - 266 - - - 666

128 Muhammad Akram Naro Chak 549/Eb Po 477/Eb Tehsil Vehari

Muhammad Akram Naro 34301-2286220-9 Atta Muhammad 396 264 - 264 - - - 660 396 301 - 301 - - - 698

129 Muhammad Yar S/O Ellahi Mohallah Kalarwal P/O Chamb Kulyar Tehsil And District Lodhran

Muhammad Yar 36203-1795051-9 Elahi Bux 410 250 - 250 - - - 660 410 291 - 291 - - - 701

130 Fazal Ellahi Chak Alwardi Khan Po Bonga Hayat Tehsil Pakpattan

Fazal Ellahi 36402-5154821-3 Muhammad Saddique 399 265 - 265 - - - 664 399 303 - 303 - - - 702

131 Shahzad Hanif Chak No:6 J.B. Tehsil& Distt Faisalabad

Shahzad Hanif 33103-3206741-7 Muhammad Hanif 400 227 - 227 - - - 627 400 303 - 303 - - - 703

132 Muhammad Akram Ward # 4, Jamali Road Daur, P>O & Taluka Daur Dist Nawab Shah

Muhammad Akram 45402-9998557-1 Rasool Bux 450 241 - 241 - - - 691 450 284 - 284 - - - 734

133 Khalid Hussain S/O Rehmat Khan Chak 126/Wb Tehsil Mailsi

Khalid Hussain 36602-3103465-3 Rehmat Khan 474 225 - 225 - - - 699 474 270 - 270 - - - 744

134 Muhammad Arshad S/O Jamshed Al Ward # 11 Tehsil And District Lodhran

Muhammad Arshad 36203-3233074-3 Jamshed Ali 450 256 - 256 - - - 706 450 298 - 298 - - - 748

135 Mian Khan Chak No 435Tehsil Jarawaladistt. Faisalabad

Mian Khan 33104-2073513-3 Ismail Khan 450 256 - 256 - - - 706 450 299 - 299 - - - 749

136 Ahmad Yar Mouza Chena Karmali Sahiwal

Ahmad Yar 36502-1054859-7 Agra 450 256 - 256 - - - 706 450 299 - 299 - - - 749

137 Mohmmad Anwar S/O Barkat Ali House No 74 Street 2 People Colony Okara

Mohmmad Anwar 35302-8043477-3 Barkat Ali 631 62 - 62 - - - 694 631 122 - 122 - - - 753





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



138 Faraz Ahmad Khan Khan House,Qila Shabdav Singh P.O Manawala Tehsil And District Sheikhupura

Faraz Ahmad Khan 35404-5510593-1 Munir Ahmad Khan 469 600 - 600 - - - 1,069 469 300 - 300 - - - 769

139 Murshid Ali S/O Jamshed Ali Ward # 11 Tehsil And District Lodhran

Murshid Ali 36203-1297182-3 Jamshed Ali 470 264 - 264 - - - 734 470 308 - 308 - - - 778

140 Muhammad Akbar Village Kot Pindidas P.O Same Tehsil Ferozewala District Sheikhupura

Muhammad Akbar 35401-2707612-1 Muhammad Saleem 475 617 - 617 - - - 1,092 475 308 - 308 - - - 783

141 Zulfiqar Ali Allah Din Jhoke Balochan Deo Sial Tehsil Chunain Distt Kasur

Zulfiqar Ali Allah Din 35101-5055443-9 Muhammad Amin 500 238 - 238 - - - 738 500 285 - 285 - - - 785

142 Zubaidan Perveen W/O Ghulam Mouza Mitroo Tehsil Mailsi

Zubaidan Perveen 36602-8960601-0 Ghulam Mustafa 475 271 - 271 - - - 746 475 316 - 316 - - - 791

143 Muhammed Madni Basti Abdul Aziz Mouza Chah Narang P/O Chah Loharan Tehsil Ahmad Pur East District Bahawalpur

Muhammed Madni 31201-3020761-5 Nazar Muhammad 495 291 - 291 - - - 786 495 338 - 338 - - - 833

144 Ch.Abdul Majeed House # 71 Mohallah Shadman Colony Ahmad Pur East District Bahwalpur

Ch.Abdul Majeed 31201-5034735-7 Ch. Barkat Ali 430 380 - 380 - - - 810 430 421 - 421 - - - 851

145 Muhammad Anwar Chohan Chak 97/9L Tehsil Sahiwal

Muhammad Anwar Chohan 36502-3895013-1 Bagh Din 608 231 - 231 - - - 839 608 288 - 288 - - - 896

146 Tasaddiq Hussain Alias House No 509/J Fareed Town Sahiwal

Tasaddiq Hussain Alias 36502-0887551-3 Ch Mukhtar Ahmad 920 - - - - - - 920 907 - - - - - - 907

147 Suleman Ahmad P/A Ashfaq Ahmad Dha. House No.81-C, Phase 01,Lahore Cantt

Suleman Ahmad 32103-6688243-9 Manzoor Ahmed 450 427 - 427 - - - 877 450 467 - 467 - - - 917

148 Talib Hussain & Nasir Hussain Mouza Zohr Kot Po Karmpur Tehsil Mailsi

Talib Hussain Nasir Hussain

36602-9900663-1 Mulazam Hussain 725 145 - 145 - - - 870 725 213 - 213 - - - 938

149 Ghuman Dairy Farm Village Rana Tehsil Wazirabad Distt. Gujranwala

Akbar Ali 34104-2311278-3 599 285 - 285 - - - 884 599 342 - 342 - - - 941

150 Atta Hussain Khan S/O Karim Mouza Mahni Po Dakota Tehsil Mailsi

Atta Hussain Khan 36602-7129028-5 Kareem Khan 670 307 - 307 - - - 977 670 370 - 370 - - - 1,040

151 Muhammad Zafar Mohallah Abbubakar Hasil Pur Old Bahwalpur

Muhammad Zafar 31203-5171999-3 Muhammad Latif 700 376 - 376 - - - 1,076 700 443 - 443 - - - 1,143

152 Mushtaq Ahmad Chak # 360/Wb P/O Same Lodhran

Mushtaq Ahmad 36201-7107362-9 Khan Muhammad 700 399 - 399 - - - 1,099 700 465 - 465 - - - 1,165





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



153 Ali Imran Chak Hama Rath Tehsil Arifwala

Ali Imran 36401-4394786-7 Ahmad Yar 700 464 - 464 - - - 1,164 700 530 - 530 - - - 1,230

154 Falak Sher Chak No. 238/Gb Tehsil Jaranwala Distt Faisalabad

Falak Sher 33104-4483070-1 Rehmatullah 900 513 - 513 - - - 1,413 900 598 - 598 - - - 1,498

155 Muhammad Din&Muhammad Ramzan Roda Singh P/O Khas Haroonabad District Bahwal Nagar

Muhammad Din Muhammad Ramzan

31101-7292425-1 Imam Din 1,000 570 - 570 - - - 1,570 1,000 665 - 665 - - - 1,665

156 Shahid Bashir 82-B,Tipu Block,New Garden Town,Lahore

Shahid Bashir 35202-2702691-7 Bashir Ahmed 2,122 938 - 938 - - - 3,059 2,122 1,091 - 1,091 - - - 3,213

157 Ghulam Fareed Khan Khakwani Shareef Manzil Kutcheri Road Multan

Ghulam Fareed Khan Khakwani

36302-0403377-3 Muhammad Sharif Khan 600 1,331 - 1,331 - - - 1,931 - 1,001 - 1,001 - - - 1,001

158 Muhammad Nasir Khan Bakshan Khan P/O Same Tehsil Chishtian

Muhammad Nasir Khan 31102-6085793-5 Abdul Jabbar Khan 3,229 1,653 - 1,653 - - - 4,882 - 1,653 - 1,653 - - - 1,653

159 Muhammad Ramzan Sheikh 42-S Dha Lahore Cantt. Pakistan

Muhammad Ramzan Sheikh

Sheikh M. Yousef 90,432 56,793 - 56,793 - - - 147,225 - 6,726 - 6,726 - - - 6,726

160 Amir Hossein Tabarra H. No 85, Pasdaran Ave. 2Nd Gulistan, Tehran, Iran

Amir Hossein Tabarra Hamid Tabarra 124,043 5,776 - 5,776 - - - 129,819 3,962 - - - - - - 3,962

161 Masoud Abdar Esfahani H.No 74, Exfani Ave. Morahari Street.Isfahan, Iran

Masoud Abdar Esfahani Rasoul Esfahani 46,853 48,361 - 48,361 - - - 95,213 46,883 49,647 - 49,647 - - - 96,530

162 Payam Rahim Doustdar H.No 2287 Vila, Sanbazan Street, Shahrak Zhandermer, Tehran Iran.

Payam Rahim Doustdar Rahim Doustdar 54,952 28,105 - 28,105 - - - 83,057 14,535 32,177 - 32,177 - - - 46,712

163 Hassan Majeed 12 B, Korangi Road, Phase 1, Dha , Karachi , Pakistan

Hassan Majeed Abdul Majeed 58,257 32,885 - 32,885 - - - 91,142 11,201 38,247 - 38,247 - - - 49,448

164 Saidazahan Sameullakh H. No 115, Building-Ss, Street Flatwa, Odesa, Ukarine.

Saidazahan Sameullakh 57,181 13,964 - 13,964 - - - 71,145 57,171 13,965 - 13,965 - - - 71,136

165 Heshmat Malekzadeh H. No 12, Izad Alley Safa Street, Qhiytariye, Tehran, Iran

Heshmat Malekzadeh Abdol Hussain 281,256 132,803 - 132,803 - - - 414,058 281,267 163,562 - 163,562 - - - 444,828

166 Ary Traders P.O. Box 1123, Dubai, United Arab Emirates.

Haji Abdul RazzakHaji Muhammad Iqbal

156,465 657,210 - 657,210 - - - 813,675 116,565 714,353 - 714,353 - - - 830,918

167 M/S Hanover Int’L Trading LlcP.O. Box 24309, Sharjah United Arab Emirates.

Abdul Rehman Bin MohammadAshraf LangalathRazzak Langalath

- 13,595 - 13,595 - - - 13,595 - 15,761 - 15,761 - - - 15,761





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



168 Muhammad Saleem Butt P.O.Box: 19204 Al Ain, U.A.E

Muhammad Saleem Butt 964 - - - - - - 964 935 - - - - - - 935

169 Yolanda Comia Ginete P.O. Box 15258 Al Ain U.A.E

Yolanda Comia Ginete 671 - - - - - - 671 671 - - - - - - 671

170 Javed Iqbal Ghulam P.O. Box:65647 Al Ain,U.A.E

Javed Iqbal Ghulam 646 - - - - - - 646 646 - - - - - - 646

171 Harish P.O. Box:42973 Dubai, U.A.E

Harish 547 - - - - - - 547 570 - - - - - - 570

172 Muhammad Naeem P.O. Box:26013 Sharjah, U.A.E

Muhammad Naeem 1,036 - - - - - - 1,036 1,193 - - - - - - 1,193

173 Syed Mazher Ul Haque Qaiser P.O. Box: 35170 Dubai, U.A.E

Syed Mazher Ul Haque Qaiser

527 - - - - - - 527 527 - - - - - - 527

174 Johnas Mondroy Baja P.O.Box 261619, Dubai, U.A.E.

Johnas Mondroy Baja 692 - - - - - - 692 698 - - - - - - 698

175 Nasim Ul Ghani Abdul Ghani P.O.Box 54438, Dubai, U.A.E.

Nasim Ul Ghani Abdul Ghani

1,628 - - - - - - 1,628 1,460 - - - - - - 1,460

176 Ibrahim A Karim H Almaimani P.O.Box 157, Dubai, U.A.E.

Ibrahim A Karim 2,556 - - - - - - 2,556 2,374 - - - - - - 2,374

177 Sherief Mohammod Basheer P.O.Box 31558, Dubai, U.A.E.

Sherief Mohammod Basheer

863 - - - - - - 863 800 - - - - - - 800

178 Muhammad Farooq P.O.Box 7880, Dubai, U.A.E.

Muhammad Farooq 650 - - - - - - 650 678 - - - - - - 678

179 Kulthoum Hussain P.O.Box 3306, Dubai, U.A.E.

Kulthoum Hussain 2,268 - - - - - - 2,268 2,319 - - - - - - 2,319

180 Saeed Rashed R. A. H. Al Zaabi P.O.Box 246, Abu Dhabi, U.A.E.

Saeed Rashed R. A. H. Al Zaabi

673 - - - - - - 673 673 - - - - - - 673

181 Abd El Mohsen Mohamed El Sayed P.O.Box 253, Abu Dhabi, U.A.E.

Abd El Mohsen Mohamed El Sayed

925 - - - - - - 925 1,006 - - - - - - 1,006

182 Mariam Cenciode Guzman P.O.Box 68469, Dubai, U.A.E.

Mariam Cenciode Guzman 2,249 - - - - - - 2,249 2,027 - - - - - - 2,027

183 Ahmed Salim Saif Al Fazari P.O.Box No 47 Doha Qatar

Ahmed Salim Saif Al Fazari 4,370 46 - 46 - - - 4,416 4,268 46 - 46 - - - 4,314

184 Sardar Khan Dost Mohammad P.O.Box No 9758 Doha Qatar

Sardar Khan Dost Mohammad

3,239 1,055 - 1,055 - - - 4,293 3,202 1,199 - 1,199 - - - 4,401





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



185 Khalid Soliman M.H.Al Taweel P.O.Box No 6169 Doha Qatar

Khalid Soliman M.H.Al Taweel

6,240 3,537 - 3,537 - - - 9,777 6,239 3,889 - 3,889 - - - 10,128

186 Maumood Sultan Flat 22, Bldg 844, Road 1128, Manama 311

Maumood Sultan 621 - - - - - - 621 621 - - - - - - 621

187 Zulqarnain Haider Near Chugi No 14 Mumtazabad Mohallah Basti Ram Kali Multan Multan Multan

Zulqarnain Haider 36302-1464202-7 1,360 3 - 3 - - - 1,363 95 542 - 542 - 27 27 664

188 Khyal Muhammad H No 8 Ziam Qila Kochyeno Kalay Tangi Charsadda

Khyal Muhammad 17102-9042244-7 Muhammad - - - - - - - - - 614 - 614 - 188 188 802

189 Muhammad Asif H No 11-I-B Allowdin Road Cantt Lahore

Muhammad Asif 35201-6326933-1 Abdul Latif 471 9 - 9 - - - 480 - 2,308 - 2,308 - 5 5 2,313

190 Waseem Zaheer E-607, Chapal Resort, Block-1, Clifton, Near Boat Basin Police Station

Waseem Zaheer 42301-9065451-9 Syed Mohammad Zaheer 1,213 9 - 9 - - - 1,222 - 687 - 687 - 1 1 688

191 Arif Mehmood Gujjar Khaiber Sweets And Bakers P-575 College Road Namat Colony 1 Faisalabad

Arif Mehmood Gujjar 38405-5114206-7 Ali Muhammad 1,837 15 - 15 - - - 1,851 - 2,141 - 2,141 - 10 10 2,151

192 Fayyaz Ahmad Qadri H No 12-A Muhallah Racha Rasheed Rd Lahore

Fayyaz Ahmad Qadri 35202-7587301-9 Suraj Din 2,702 22 - 22 - - - 2,723 - 1,535 - 1,535 - 6 6 1,541

193 Mohammad Kamal Uddin M K Corporation Room No 617 6Th Floor Zohra Square Bldg Ma Jinnah Rd Karachi

Mohammad Kamal Uddin 42000-3057360-9 Abdul Haleem 2,345 21 - 21 - - - 2,366 - 1,453 - 1,453 - 0 0 1,453

194 Musa Constant Sher Gill Flat#3 Floor#2 Plot No 28-C 14 Commercial Street Phase 2 Extension Dha Karachi

42201-9859370-5 523 6 - 6 - - - 529 - 512 - 512 - 8 8 520

195 Tariq Mehmood H No 181 Atta Turk Block New Garden Town Lahore

Tariq Mehmood 35202-8919171-3 Aziz Ud Din 7,667 52 - 52 - - - 7,719 - 9,789 - 9,789 - 1 1 9,790

196 Shahzad Rasheed Flat # A-30, Zubaida Classics Block 13-D-2 Gulshan-E-Iqbal

Shahzad Rasheed 42201-4346326-9 Abdul Rasheed (Late) 1,101 11 - 11 - - - 1,111 - 774 - 774 - 0 0 774

197 Nayyar Ahmed Malik H No 53-U , Phase Ii Dha Cantt Lahore

Nayyar Ahmed Malik 35202-2026918-7 Naseem Ahmed Malik 24,711 215 - 215 - - - 24,926 - 24,415 - 24,415 - 12 12 24,427

198 Mohammad Tariq H No 11 St No 31 Safi Road New Islamia Park Chuberji Lahore

Mohammad Tariq 35202-2527308-5 Mohammad Ali 500 4 - 4 - - - 504 - 756 - 756 - 0 0 756





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



199 Muhammad Ashraf Chaudhary Punjab Institute Of Paramedica 13 Mamdot Block Mustafa Town Lahore

Muhammad Ashraf Chaudhary

35202-0591483-1 Chaudhary Barkat Ali 2,210 18 - 18 - - - 2,227 - 3,401 - 3,401 - 11 11 3,412

200 Haroon Ahmad H No 12/25 Main Road Green View Colony Faisalabad

Haroon Ahmad 33100-8305200-3 Neyaz Ahmad 3,307 5 - 5 - - - 3,312 - 7,197 - 7,197 - 0 0 7,197

201 Tehsin Ali Shareef Free Hold Assoct Pvt Ltd Flat No A-1 Park Way Appt Tennis Club Road Blk 9 Clifton Karachi

Tehsin Ali Shareef 42301-6484131-1 Hussain Ali Shareef 5,646 49 - 49 - - - 5,696 - 5,359 - 5,359 - 1 1 5,361

202 Abdul Qadir Mughal Heco Sales 9Km Multan Road Awan Town Lahore

Abdul Qadir Mughal 35200-1511087-3 M Abbas Mughal 1,548 1,094 - 1,094 - - - 2,641 - 1,161 - 1,161 - 1 1 1,162

203 Khalid Ali Mansoori Flat No D-11 Florida Homes Phase V DHA

Khalid Ali Mansoori 42301-9762347-5 Mahfooz Ali Mansoori 3,914 3,473 - 3,473 - - - 7,387 - 3,565 - 3,565 - 9 9 3,574

204 Raja Muhammad Dulpazir Kyani House No A-24 Sector Z-V Gulshan-E-Mehmar Karachi

Raja Muhammad 42401-2889397-3 Raja Muhammad Arbab 2,802 3,190 - 3,190 - - - 5,992 - 3,246 - 3,246 - 13 13 3,259

205 Amjad Hussain Bilal Traders Shop No 92 Gulistan Market No Railway Road Behind Nigena Cin Faisalabad

Amjad Hussain 33100-3576503-5 Muhammad Hussain 2,690 - - - - - - 2,690 - 2,530 - 2,530 - 12 12 2,542

206 Adnan Iqbal Khan H No B-16/13 Alpine Homes Rojhan Behind Bar B-Q Block 5 Clifton

Adnan Iqbal Khan 42301-6309719-7 Iqbal Ahmed Khan 4,198 - - - - - - 4,198 - 539 - 539 - 1 1 540

207 Shahid Rais Ahmed Kashif Brothers Toys Centre Sh No 4-5 Pak Market Shah Alam Market Lahore

Shahid Rais Ahmed 35202-6224490-7 Rais Ahmed 3,786 - - - - - - 3,786 - 4,197 - 4,197 - 1 1 4,198

208 Abid Hussain H No 99 Row # 4 C Area Korangi Crossing Near Crossing

Abid Hussain 42501-1036790-9 Muhammad Shafi (Late) 1,150 12 - 12 - - - 1,163 570 51 - 51 - 1 1 622

209 Muhammad Tariq H No 3-A,St No 71-A Wassan Pura Lahore

Muhammad Tariq 35202-5897014-7 Muhammad Rafiq 3,034 16 - 16 - - - 3,050 - 6,595 - 6,595 - 9 9 6,604

210 Nazar Miran Ali H No 92/A Allama Iqbal Road Ghari Shahu Lahore

Nazar Miran Ali 35202-8217609-1 Muhammad Rafi 563 4 - 4 - - - 567 - 1,415 - 1,415 - 1 1 1,416

211 Jawaid Iqbal A J International Traders, Office No. 9, Kulsoom Bai Building, Jamat Khana Street, Saddar Karachi

Jawaid Iqbal 42301-0829968-7 Chudary Ilm Din Gojr 1,719 2,050 - 2,050 - - - 3,768 - 2,159 - 2,159 - 137 137 2,296

212 Muhammad Saeed P-352-D Block St 2 G M Abad Faisalabad.

Muhammad Saeed 33100-7915636-9 Ch. Muhammad Din 1,178 949 - 949 - - - 2,127 - 1,007 - 1,007 - 87 87 1,094





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



213 Tahir Mushtaq H No 148 Hamza Street No 1 Waqas Chowk Khayaban Colony No 1

Tahir Mushtaq 33100-4620798-5 Mushtaq 2,380 2,734 - 2,734 - - - 5,114 - 2,669 - 2,669 - 78 78 2,746

214 Kamran Parekh Credit Risk Management Dep 2Nd Fl Dubai Islamic Bank Hassan Chambers D C 7 Bl 7 Kehkashan Clifton Karachi

Kamran Parekh 42301-7099809-3 Mehmood Parekh 467 490 - 490 - - - 957 140 495 - 495 - 49 49 684

215 Osman Masud Avenir Technologies Pvt Ltd Off No 4-B Ground Floor Evacuee Trust Complex F-5/1 Islamabad

Osman Masud 61101-1835957-5 M Masood Pervaz 501 661 - 661 - - - 1,162 101 673 - 673 - 6 6 779

216 Muhammad Yaqoob Paul Salah Selencer And Gas Welding G T S Chowk . Edhi Centre,Jhelum

Muhammad Yaqoob Paul 37301-2325091-1 Muhammad Ismail Paul 375 373 - 373 - - - 748 100 385 - 385 - 37 37 522

217 Muhammad Irfan Myb 31-B Gulberg V Zafar Ali Road Lahore Lahore

Muhammad Irfan 35202-0368453-7 Ch M Yousaf 176 450 - 450 - - - 626 116 453 - 453 - 44 44 613

218 Saeed Ahmed Naseem H No P-36 Sheikhupura Road Malik Pur Nr Haji Book Depo Faisalabad

Saeed Ahmed Naseem 33100-1933832-5 Ch Sikandar Ali 147 467 - 467 - - - 614 92 470 - 470 - 4 4 567

219 Mirza Asif Baig A-503 Az Comforts Plot Sc Ii Block H North Nazimabad ,Karachi

Mirza Asif Baig 42101-9484754-1 Mirza Mahmood Baig 458 661 - 661 - - - 1,120 137 678 - 678 - 58 58 873

220 Muhammad Irfan H No C/79-80 1St Floor Wilayatabad No 2 Manghopir Road Karachi

Muhammad Irfan 42401-1458305-7 Khalil Rehman 310 439 - 439 - - - 749 93 453 - 453 - 4 4 550

221 Manzoor Hussain Descent Furniture Ara Manid Kot Khadam Ali Shah Al Wali Kanda ,Sahiwal

Manzoor Hussain 36502-1857954-1 Chaudhary Fazal Muhammad

245 406 - 406 - - - 652 80 414 - 414 - 38 38 533

222 Syed Muhammad Nasir Raza Rizvi H No D-2 Block 13-D-1 Gulshan E Iqbal Karachi

Syed Muhammad Nasir Raza Rizvi

42101-1739755-1 Syed Farzand Raza - - - - - - - - 143 694 - 694 - 62 62 898

223 Tariq Mehmood T M Photo Exprees 16 Urdu Nagar Mor Samanabad Gulshan Ravi Road Lahore

Tariq Mehmood 3520-22771479-9 Rahmat Ali 317 521 - 521 - - - 838 117 538 - 538 - 52 52 706

224 Sibghat Ullah Khan H No 66/A Rasool Park Ichra Lahore

Sibghat Ullah Khan 35202-9999867-5 Sami Ullah Khan 379 664 - 664 - - - 1,043 143 684 - 684 - 62 62 890

225 Muhammad Irfan Trade Link International Suit No 27 2Nd Floor Al Rehman Centre 15 Keamari Karachi

Muhammad Irfan 42301-4429671-1 Mohd Akber 281 412 - 412 - - - 692 84 428 - 428 - 38 38 549





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



226 Amjad Ali Shaida 305 Pak Block Allama Iqbal Town Lahore

Amjad Ali Shaida 35202-2733379-5 Abdul Rasheed 499 456 - 456 - - - 956 139 476 - 476 - 5 5 621

227 Muhammad Shafiq Mughal Malik Yaseen Silk Centre, Near Ramzan Paan Shop, Main Bazar Shaheen Abad, Gujranwala

Muhammad Shafiq Mughal 34101-2691676-1 Muhammad Siddique 394 508 - 508 - - - 902 109 538 - 538 - 5 5 652

228 Mohiuddin Zaki A 17 Block 3 Gulshan-E-Iqbal ,Karachi

Mohiuddin Zak 42201-8616265-7 Qazi Zaheer Uddin 425 539 - 539 - - - 964 127 574 - 574 - 53 53 754

229 Muhammad Mumtaz Uddin Ahmed Flat No.A-29, Lucky Centre, Block-4, Gulshan-E-Iqbal, Opp. Pizza Hutt, Karachi...

Muhammad Mumtaz Uddin Ahmed

42201-6203797-9 Syed Ahmed Noor 501 630 - 630 - - - 1,131 115 678 - 678 - 62 62 856

230 Faisal Mehmood H No 4 St No 28 Main Bazar 2 Ghazi Abad Cantt ,Lahore

Faisal Mehmood 35201-1284561-9 Muhammad Nisar Ahmed 352 466 - 466 - - - 818 - 518 - 518 - 5 5 522

231 Abdul Hameed M/S Abdul Hameed Cosmatic Corn Shop 4 Kohe-E-Noor Shoping Mal Mezz Floor Resham Gali ,Hyderabad

Abdul Hameed 41303-7918913-5 Tahir Mohammad 475 556 - 556 - - - 1,030 135 617 - 617 - 6 6 758

232 Muhammad Naeem H No 5-A St No 3 Mazang Road Mazang Lahore

Muhammad Naeem 35202-3276165-5 Muhammad Bashir 393 419 - 419 - - - 812 113 463 - 463 - 5 5 581

233 Amir Hanif Telconet Communication H No. 4 Street 56 F-8/4 Islamabad

Amir Hanif 61101-1951198-1 Mohammad Hanif 293 417 - 417 - - - 710 80 462 - 462 - 45 45 586

234 Muhammad Waseem Am Enterprise Office 14 Poonawala View Building Borhi Road Opposite Custom House. Khi

Muhammad Waseem 42201-4012381-7 M Ounus Qureshi 500 443 - 443 - - - 943 143 509 - 509 - 52 52 705

235 Syed Aman Ul Haque Micron B/710 Saima Trade Tower I.I Chundrigar Road Near Jungp ,Karachi

Syed Aman Ul Haque 42201-0275905-5 Syed Anis Ul Haq 413 495 - 495 - - - 908 122 549 - 549 - 6 6 677

236 Muhammad Amjad Young Student Centre Shop No 9 Gul Centre Capital Gali Saddar Karachi

Muhammad Amjad 42301-0493080-9 Abdul Sattar 479 498 - 498 - - - 977 139 578 - 578 - 59 59 776

237 Saeed Iqbal H No 19 St No 10 Sector E Manzoor Colony

Saeed Iqbal 42201-0725912-9 Iqbal 469 271 - 271 - - - 739 140 357 - 357 - 39 39 536

238 Abdul Jabbar Rocket Corporation Shadman Road Near Allied Bank Faisalabad

Abdul Jabbar 33100-1394416-1 Muhammad Ishaq 493 - 104 104 - - - 597 493 - 104 104 - - - 597





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



239 Fazal Hussain Malik H # 339 St # 73 G-11/2 Islamabad

Fazal Hussain Malik 61101-7419377-1 Malik Allah Bakhsh 740 - 328 328 - - - 1,068 740 - 328 328 - - - 1,068

240 Khuram Ibrahim H No D-85 Sector No 1 Khayaban E Sirsyed,Rawalpindi

Khuram Ibrahim 37405-6665694-9 Umer Bakhash Satti 456 - 109 109 - - - 565 456 - 109 109 - - - 565

241 Hassan Ashraf Hameed Appt # 006 Park Towers Main Building F-10/3 Islamabad

Hassan Ashraf Hameed 61101-1946765-9 Ashraf Hameed 713 - 203 203 - - - 916 713 - 203 203 - - - 916

242 Ashfaq Ul Haq H No 66-B-1 Johar Town Lahore Lahore

Ashfaq Ul Haq 35202-2367122-7 Abdul Haq 409 - 104 104 - - - 513 409 - 104 104 - - - 513

243 Kashif Shehzad H No 452,St No 9 Cheema Colony Sargodha

Kashif Shehzad 38403-2265218-3 Muhammad Farooq 466 - 143 143 - - - 609 466 - 143 143 - - - 609

244 Muhammad Khalil H No R-318 Decent House Block 7 Gulistan-E-Jauhar Karachi

Muhammad Khalil 42501-9861623-7 Hakim Din 478 - 132 132 - - - 610 478 - 132 132 - - - 610

245 Shaukat Hussain H No 530-Ii-2-A New Model Colony Bund Road Mirza Ice Factory Bahawalpur

Shaukat Hussain 31202-0252708-5 Manzar Ahmed 448 - 132 132 - - - 580 448 - 132 132 - - - 580

246 Mian Liaqat Ali Sheikh H No. 483, Block E-1 Wapda Town,Upper Portion Lahore

Mian Liaqat Ali Sheikh 36302-4195237-9 Sheikh Muhammad Younas 394 - 121 121 - - - 515 394 - 121 121 - - - 515

247 Ghulam Mohammad Chach House Saabri Kalimullah Karyana Munirabad Opp Aysha Masjid Wah Cantt

Ghulam Mohammad 37406-3615610-5 Mohammad Suleman 534 - 159 159 - - - 693 534 - 159 159 - - - 693

248 Khayyam Shahzad H No P-80,St No 06/10 Abdullah Jalal Centre Munshi Mohalla Faisalabad

Khayyam Shahzad 54400-1903191-1 Muhammad Saleem 506 - 158 158 - - - 664 506 - 158 158 - - - 664

249 Hafeez Ullah Saeed H No P-93,Main Bazar Green View Colony,Rajey Wala Faisalabad

Hafeez Ullah Saeed 33100-0721436-1 Muhammad Saeed 486 - 142 142 - - - 628 486 - 142 142 - - - 628

250 Aisha Tahoor Fl No F-42 2Nd Floor Phase Ii Defence View Karachi

Aisha Tahoor 42401-5489084-6 Syed Tahoor Hussain 424 - 102 102 - - - 526 424 - 102 102 - - - 526

251 Mohammad Shahrukh Siddiqui Fl No B-49 Anar Kali Complex Bab-E-Arif Nagan Chowrangi

Mohammad Shahrukh Siddiqui

42000-8129775-9 Naeem Ul Haq 446 - 121 121 - - - 567 446 - 121 121 - - - 567

252 Javaid Iqbal Qamar 562-A Al-Quresh Housing Phase 1 Street # 8-A Shershah Road Multan- 061-6538199

Javaid Iqbal Qamar 36302-8512607-7 Rao Abdul Sattar Khan 456 - 146 146 - - - 602 456 - 146 146 - - - 602





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



253 Mohammad Imran H No 21 Block C Unit 6 Latifabad Ak Minar Masjid Hyderabad

Mohammad Imran 45301-1367728-9 Mohammad Akram 477 - 150 150 - - - 627 477 - 150 150 - - - 627

254 Lal Bux House No 2 Domra Goth Qasimabad Near Ali Raza Catress Hyderabad

Lal Bux 41306-1322732-9 Allah Rakhiyo 424 - 123 123 - - - 546 424 - 123 123 - - - 546

255 Sabir Ali Khan Norani H No 12 Block 3,Sector C-1,Green Town,Township Lahore

Sabir Ali Khan Norani 35202-0228331-3 Ghazanfar Ali Khan Norani 488 - 149 149 - - - 637 488 - 149 149 - - - 637

256 Manzoor Hussain F-403 Chapal Garden Abul Hassan Ispahani Road Gulshan-E-Iqbal

Manzoor Hussain 42501-0176010-9 Hazoor Bux Bhatti 478 - 130 130 - - - 608 478 - 130 130 - - - 608

257 Muhammad Riaz ShahzaH No Ts-53 Hit Majid Shaheed Colony,Taxila

Muhammad Riaz Shahza 37302-1184015-9 Fazal Ellahi 512 - 142 142 - - - 654 512 - 142 142 - - - 654

258 Naveed Ahmad H No Bv-66 Haider Ali Street #5 Muslim Town Near Al-Mubarik Cng Rawalpindi

Naveed Ahmad 37405-0627379-3 Habeeb Ahmad 523 - 164 164 - - - 687 523 - 164 164 - - - 687

259 Muhammad Shahzad Ahmed H No 53 St No 15 Muhammad Nagar Bilal Park Lahore

Muhammad Shahzad Ahmed

35202-1619390-9 Zain Ul Abideen 505 - 180 180 - - - 685 505 - 180 180 - - - 685

260 Muhammad Abaidullah H No 194/4 Block N Pakpattan Road Arifwala

Muhammad Abaidullah 36401-0687543-9 Muhammad Hasan 390 - 153 153 - - - 543 390 - 153 153 - - - 543

261 Naheed Tabassum A-9 Centre Point 1St Floor Block 21 F B Area

Naheed Tabassum 42201-2684598-6 Bahir Ahmed Siddique 471 - 142 142 - - - 613 471 - 142 142 - - - 613

262 Tahir Hussain Rajput K-358 Ward # 03 Manuabad Nawabshah

Tahir Hussain Rajput 45402-5144878-5 Mubin Ahmed 491 - 159 159 - - - 651 491 - 159 159 - - - 651

263 Tariq Mehmood Quarter No 1, Bandadi Tabimarkaz Millat Road Chak No 116-Jb Faisalabad

Tariq Mehmood 33100-4696758-1 Abdul Aziz 458 - 91 91 - - - 549 458 - 91 91 - - - 549

264 Aijaz Ahmed H No D-39 Empire Centre Block 18 Gulistan-E-Johar Karachi

Aijaz Ahmed 43105-1513494-5 Rafeeq Ud Din 639 - 255 255 - - - 894 639 - 255 255 - - - 894

265 Ashi Khan Fl No 12-C 3Rd Floor Appt No 5 Lane 8 Bukhari Comm Phase 6 Dha Super Fine Dry Cleaner Karachi

Ashi Khan 42401-6959298-4 Abdul Rasheed 745 - 290 290 - - - 1,034 745 - 290 290 - - - 1,034

266 Syed Moazzum Ali Shah Basti Noor E Wali Muhalla Sheikhan Rahim Yar Khan

Syed Moazzum Ali Shah 31303-8553532-3 Sed Ghazanfar Ali Shah 403 - 173 173 - - - 576 403 - 173 173 - - - 576





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



267 Mohammad Kashif Flat No 2 2Nd Floor 347C Blk 2 Pechs Karachi

Mohammad Kashif 42201-0464304-1 Muhammad Umer 534 - 152 152 - - - 685 534 - 152 152 - - - 685

268 Ghulam Mustafa Mallah House 716-E Kamesry Bagh Darya Road Opp Zarie Bank Kotri

Ghulam Mustafa 41204-8642923-3 Muhammad Bachal 564 - 253 253 - - - 817 564 - 253 253 - - - 817

269 Muhammad Zahid H No L-100 Rafi Garden Malir City

Muhammad Zahid 42201-8740211-9 Mohammad Akbar 373 - 150 150 - - - 523 373 - 150 150 - - - 523

270 Shaher Bano H No A-35/200 Paro Abdullah Town Block A Hyderabad

Shaher Bano 45402-1020524-6 Imdad Ali 399 - 176 176 - - - 575 399 - 176 176 - - - 575

271 Muhammad Rizwan Flat No D-509 Rufi Lake Drive Block 18 Gulistan-E-Johar Perfume Chowk Karachi

Muhammad Rizwan 42401-1847512-7 M Tariq 570 - 229 229 - - - 800 570 - 229 229 - - - 800

272 Asjad Rasool Asjad House Mohallah Harl Po Khas Chakakka Gt Road Jhelum Dina

Asjad Rasool 37301-4480456-9 Gulam Rasool 522 - 111 111 - - - 632 522 - 111 111 - - - 632

273 Bashir Ahmed Basti Noor Pur Chak Abbas Rahim Yar Khan

Bashir Ahmed 31303-7742304-9 Muhammad Suleman 589 - 251 251 - - - 840 589 - 251 251 - - - 840

274 Iram Shahzad Khawaja Street New Shadab Colony Multan

Iram Shahzad 36302-0924118-9 Zahoor Ahmad Tabash 622 - 279 279 - - - 901 622 - 279 279 - - - 901

275 Haji Muhammad Yasin Yasin House St No 1 Muhalla Shahid Nagar Pakpattan

Haji Muhammad Yasin 36402-7453294-7 Roshan Din 533 - 222 222 - - - 755 533 - 222 222 - - - 755

276 Muhammad Ijaz Ahmed H No 2 St No 10 Javaid Colony Changi Amer Sadhu Lahore

Muhammad Ijaz Ahmed 35202-3338653-9 Miray Din 428 - 188 188 - - - 616 428 - 188 188 - - - 616

277 Naveed Ahmed H No 141-C Block W Scheme No 2 Gulshan E Iqbal Rahim Yar Khan

Naveed Ahmed 31303-9167445-3 Gulam Rasool 951 - 444 444 - - - 1,395 951 - 444 444 - - - 1,395

278 Himat Shah Room No 12 Mall Plaza Ring Road Peshawar

Himat Shah 21203-5720702-3 Janat Shah 594 - 233 233 - - - 827 594 - 233 233 - - - 827

279 Muhammad Saleem House No 3-S-70 St Mohalla 5 Block 10 Po Sargodha City Sargodha

Muhammad Saleem 38403-2249176-3 Muhammad Shabbir 415 - 196 196 - - - 611 415 - 196 196 - - - 611

280 Nasir Ali H No 5 St No 109 Johar Street Sandha Road Islampura Lahore

Nasir Ali 35202-2892854-9 Naseer Ahmed 412 - 169 169 - - - 581 412 - 169 169 - - - 581

281 Naveed Akhter H No 3 Basharat Town More Eminabad Gujranwala

Naveed Akhter 34101-4340956-9 Abdul Rasheed 484 - 113 113 - - - 597 484 - 113 113 - - - 597

282 Naveed Iqbal H No 2 St No 24 Wah Model Town Wah Cantt

Naveed Iqbal 17301-2237585-9 Muhammad Akram 921 - 412 412 - - - 1,333 921 - 412 412 - - - 1,333





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



283 Tousef Khan Niazi Fl No 1 Bashiruddin Plaza Dominwah Road

Tousef Khan Niazi 41303-2897591-9 Mohammad Hanif 589 - 238 238 - - - 827 589 - 238 238 - - - 827

284 Muhammad Yasin Yasin House Election Office Chak No 88/9-C Sahiwal

Muhammad Yasin 36502-6914007-7 Muhammad Yousaf 464 - 104 104 - - - 569 464 - 104 104 - - - 569

285 Muhammad Ashraf China Silk Centre Shop No 6 St No 5 Anarkali Baz Bhawana Bazar Faisalabad

Muhammad Ashraf 33100-9229871-3 Sh Din Muhammad 559 - 145 145 - - - 705 559 - 145 145 - - - 705

286 Sohail Ahmed Siddique H No G-32/25 Plot No 35 Habib Centre Liaqat Colony Hyderabad

Sohail Ahmed Siddique 41303-4667743-1 Imam Uddin 606 - 282 282 - - - 887 606 - 282 282 - - - 887

287 Muhammad Hamid Rafique H No 652,St No 4 Muhammad Abad Satiana Road Faisalabad

Muhammad Hamid Rafique 33100-5322631-1 Muhammad Rafique 606 - 175 175 - - - 781 606 - 175 175 - - - 781

288 Mohammad Ismail Malik Quarter No 3 Taluka Hospital Kotri Hyderabad

Mohammad Ismail Malik 41204-9286312-1 Mir Mohammad Malik 544 - 141 141 - - - 685 544 - 141 141 - - - 685

289 Muhammad Asim Anwar Sincert Industrises Plot No 8-9 Azher Street Behind Moti Mehal Cinema Rawalpindi

Muhammad Asim Anwar 37405-1516541-1 M Anwar 435 - 96 96 - - - 531 435 - 96 96 - - - 531

290 Sheikh Muhammad T Bilal Sheikh And Co 2055 Hussain Agahi Multan

Sheikh Muhammad T Bilal 36302-9412044-5 Sheikh Muhammad Aqoob 396 - 110 110 - - - 506 396 - 110 110 - - - 506

291 Syed Ali Raza Bukkhri House Kotla Waris Shah Near Ghungi No 1 Nishter Road Multan

Syed Ali Raza 36302-1421802-7 Syed Abdul Razaq Shah 419 - 119 119 - - - 537 419 - 119 119 - - - 537

292 Syed Rashid Sibteen H No 236 Street 17 Sherfabad Housing Society Karachi No 5

Syed Rashid Sibteen 41205-0576308-3 Sed Kamal Sibteen 587 - 173 173 - - - 760 587 - 173 173 - - - 760

293 Khawar Nazeer H No 15 Happy Homes Citizen Colony Qasimabad

Khawar Nazeer 41306-2448468-7 Nazeer Ahmed Qureshi 632 - 194 194 - - - 826 632 - 194 194 - - - 826

294 Abdul Qayyum Qayyum House Kanda Stop Nr Kalyana Hatta Road Pakpattan

Abdul Qayyum 36402-7893394-1 Hafiz M Mansha 465 - 128 128 - - - 593 465 - 128 128 - - - 593

295 Shahzada Muhammad Arbi H No 1034 Muhalla Peer Qazi Jalal I/S Pak Gate Multan

Shahzada Muhammad Arbi 36302-7904359-5 Mian Rasool Buksh Qureshi 449 - 145 145 - - - 594 449 - 145 145 - - - 594





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



296 Akbar Ashiq Ali Bangalow # 2, Gulnoor Bangalow Garden East Karachi Opp. Soneri Bank

Akbar Ashiq Ali 42201-0584692-1 Ashiq Ali 400 - 114 114 - - - 513 400 - 114 114 - - - 513

297 Umer Ijaz Butt Nae Abadi Ameen Abad Road Habib Pura Sialkot

Umer Ijaz Butt 34603-7590527-7 Ijaz Ahmed Butt 677 - 246 246 - - - 923 677 - 246 246 - - - 923

298 Asim Ameer H No 303 St No 17 Muhalla Sindhi Okara

Asim Ameer 35302-8976606-9 Ameer Ullah 481 - 167 167 - - - 648 481 - 167 167 - - - 648

299 Abid Hussain H No C-47 Railway Gate Musa Colony Near Bilal Masjid Karachi

Abid Hussain 42101-1748717-9 Muhammad Nazar 395 - 132 132 - - - 527 395 - 132 132 - - - 527

300 Ali Ahmed Daska Road Adda Shawr Sialkot

Ali Ahmed 34601-7235005-5 Khalil Ahmed 476 - 161 161 - - - 637 476 - 161 161 - - - 637

301 Izhar Zahir House # K-200, 1St Floor Muhalla K-Area, Korangi # 5 Near Al-Habib Masjid

Izhar Zahir 42201-3459537-3 Zahir Parwaiz 385 - 244 244 - - - 628 385 - 244 244 - - - 628

302 Aftab Ahmed Mehar Link St, Main Fateh Garh Road, Umer E Farooq Masjid, Sialkot

Aftab Ahmed 34603-2235221-9 Habib Ullah 467 - 141 141 - - - 608 467 - 141 141 - - - 608

303 Malik Muhammad Qasim H No P-40-41 Ground Floor St No 1 Primer Colony Nazim Abad Faisalabad

Malik Muhammad Qasim 33100-4293821-7 Nazir Ahmed 493 - 175 175 - - - 668 493 - 175 175 - - - 668

304 Zeeshan Butt H No 10 St No 25-A Mujahid Pura Mughalpura

Zeeshan Butt 35201-3238747-9 Muhammad Rafiq Butt 816 - 343 343 - - - 1,159 816 - 343 343 - - - 1,159

305 Malik Talib Hussain Shama Trading/Ms 7 Group P-1320/21 Block D-A Ghulam Muhammad Abad Faisalabad

Malik Talib Hussain 33102-4553005-7 Malik Abdul Ghani 831 - 482 482 - - - 1,313 831 - 482 482 - - - 1,313

306 Muhammad Nawaz Nz Traders Flat No 25 2Nd Floor Cantonment Plaza Saddar Road Cantt Peshawar

Muhammad Nawaz 17301-4103736-7 Wali Muhammad 320 - 475 475 - - - 795 320 - 475 475 - - - 795

307 Fida Muhammad Durrani Fida Poultery Services Shop No 12 Opp Mirch Mandi Charsada Road Peshawar

Fida Muhammad Durrani 17301-4937109-3 Abdul Samad Durrani 231 - 377 377 - - - 607 231 - 377 377 - - - 607

308 Shaukat Ali Sheikhs Store Shop No 15-E Aziz Bhatti Road Tariq Abad Lal Kurti Rawalpindi

Shaukat Ali 37405-3737773-9 Mushtaq Ahmed 253 - 387 387 - - - 640 253 - 387 387 - - - 640





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



309 Moeez Yousaf Ali Khitiyanawala Moeez And Sons Off No 26 Saleh Market Adamjee Road Saddar Rawalpindi

Moeez Yousaf Ali Khitiyanawala

37405-3464290-5 Yousaf Ali Khitiyanawala 163 - 532 532 - - - 695 163 - 532 532 - - - 695

310 Shiekh Shees Ahmed Flat No 3 Amir Plaza Commercial Area Chaklala Scheme Iii Rawalpindi

Shiekh Shees Ahmed 37405-2384525-5 Sheikh M Sharif 283 - 438 438 - - - 720 283 - 438 438 - - - 720

311 Amir Salah Ud Din Landco Intl Off No G-270 Flat No 4 College Road Rawalpindi

Amir Salah Uddin 37405-5565776-3 Salah Uddin 484 - 782 782 - - - 1,267 484 - 782 782 - - - 1,267

312 Asif Iqbal Asif Tents Service Sh No 278-2 Kamalabad Rawalpindi

Asif Iqbal 91306-9650601-3 Muzaffar Khan 204 - 345 345 - - - 549 204 - 345 345 - - - 549

313 Sheikh Mehboob Alam Yaqoob Alam Mala Mine Plot No Bb 927 Near Khayaban-E-Sir Syed Bridge Rawalpindi

Sheikh Mehboob Alam Yaqoob

37405-0665263-5 Sheikh Muhammad Yaqoob 301 - 480 480 - - - 781 301 - 480 480 - - - 781

314 Salman Saeed Khan Salman Associates Off No 15 1St Floor Majeed Plaza Bank Road Saddar Rawalpindi

Salman Saeed Khan 37405-3103743-5 Abdul Saeed Khan 304 - 473 473 - - - 776 304 - 473 473 - - - 776

315 Muhammad Rasheed Ahmad H No 92 Main Street Ghalla Mandi ,Okara

Muhammad Rasheed Ahmad

35302-5664631-3 Muhammad Ramzan 270 - 453 453 - - - 723 270 - 453 453 - - - 723

316 Masud Ahmed Khan House No.45, Block-C-2, Punjab Govt. Cooperative Housing Society, Lahore

Masud Ahmed Khan 37405-4314919-9 Abdul Majeed Khan 261 - 409 409 - - - 670 261 - 409 409 - - - 670

317 Waseem Gill E-355,11-A,Gulbahar Colony, Husnainabad, Lahore Cantt.

Waseem Gill 35201-1707104-7 211 - 329 329 - - - 540 211 - 329 329 - - - 540

318 Muhammad Hamid 86 Block-J Gulberg Iii Lahore

Muhammad Hamid 35200-1485201-1 Faiz Ullah Sulhri 502 - 740 740 - - - 1,242 502 - 740 740 - - - 1,242

319 Muhammad Akram Nib House 3Rd Floor 14 A Shahra-E-Aiwan-E-Tijarat Old Racecourse Road Lahore Lahore

Muhammad Akram 35202-5600335-5 Muhammad Ashraf 204 - 327 327 - - - 531 204 - 327 327 - - - 531

320 Ahsan Khalique Khan 60/9C Kacha Farezepur Road Icma Mazang Chungi Lahore

Ahsan Khalique Khan 35200-1471196-3 Nisar Ahmed Khan 403 - 617 617 - - - 1,021 403 - 617 617 - - - 1,021

321 Waseem Rafiq Wark International 9 Noon Avenue Muslim Town Lahore

Waseem Rafiq 35201-4426855-7 Muhammad Rafiq 503 - 778 778 - - - 1,281 503 - 778 778 - - - 1,281





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



322 Muhammad Asim Flat No 5 B,2Nd Floor Gul Plaza Main Market Gulberg Lahore

Muhammad Asim 35202-2741488-5 Muhammad Qasim 361 - 600 600 - - - 961 361 - 600 600 - - - 961

323 Chaudry Naeem Yousf H No 173 Pak Block Allama Iqbal Town Lahore

Chaudry Naeem Yousf 35202-2926553-5 Ch M Yousf 196 - 312 312 - - - 507 196 - 312 312 - - - 507

324 Syed Kamran Ahmad H No 28 Block B New Muslim Town Lahore

Syed Kamran Ahmad 35202-2057547-1 Ahmed Ali 303 - 447 447 - - - 749 303 - 447 447 - - - 749

325 Muhammad Raza Kazmi 543 -B Pcsir Ii Lahore Lahore

Muhammad Raza Kazmi 35200-1527100-1 Hasan Zaki Kazmi 204 - 328 328 - - - 532 204 - 328 328 - - - 532

326 Salman Farrokh Masood Textile Mills Ltd 16/3 A Eden Homes Main Gulberg Lahore

Salman Farrokh 35202-5643640-1 M Farrukh Hassan 231 - 340 340 - - - 571 231 - 340 340 - - - 571

327 Faiz Ul Haq Gujranwala Shafoon House Shop No 9 Bano Market,188-Multan Road Near Doctor Rasheed Dispensery Lahore

Faiz Ul Haq 35202-3990479-3 Abdul Haq 453 - 691 691 - - - 1,144 453 - 691 691 - - - 1,144

328 Mohammad Bilal Varity Hardwre Store 18-Sultan Ahmad Road Ichra Lahore

Mohammad Bilal 35202-6484057-3 Sheikh Khalid Amin 223 - 333 333 - - - 556 223 - 333 333 - - - 556

329 Muhammad Munir Butt Kashmir Paint House 7/8 Al Madina Road Township Lahore

Muhammad Munir Butt 35202-6544897-3 M Bashir Butt 193 - 309 309 - - - 501 193 - 309 309 - - - 501

330 Syed Tahir Ali Beadon Aluminium Pvt Ltd 8-Live Stock Building 16 Cooper Road Lahore

Syed Tahir Ali 35201-1587760-3 Syed Azher Ali 236 - 354 354 - - - 590 236 - 354 354 - - - 590

331 Muhammad Aslam Mukarram H No 113,Khyber Block, Allama Iqbal Town, Lahore

Muhammad Aslam Mukarram

35202-8938862-7 Chouhdry Shair Muhammad

388 - 596 596 - - - 984 388 - 596 596 - - - 984

332 Syed Ather Ali Shah Beadon Almunium Pvt B Live Stock Building 16 Cooper Road Lahore

Syed Ather Ali Shah 35201-1587734-3 Syed Azhar Ali Shah 310 - 467 467 - - - 777 310 - 467 467 - - - 777

333 Qaiser Mubarik H No 298-D Rizwan Block Awan Town Lahore

Qaiser Mubarik 33202-1382469-1 Mubarak Hussain 212 - 329 329 - - - 541 212 - 329 329 - - - 541

334 Syed Azfar Ali Beadon Aluminium 16 Cooper Road Lahore

Syed Azfar Ali 35201-1587751-1 Syed Azhar Ali 344 - 526 526 - - - 870 344 - 526 526 - - - 870

335 Syed Munawar Hussain Rizvi H No 12 Block Q Model Town Lahore

Syed Munawar Hussain Rizvi

35200-1405463-5 Syed M Sadiq Rizvi 248 - 402 402 - - - 650 248 - 402 402 - - - 650





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



336 Shahzada Ahsan Ashraf Ahsan Shahzaib Enterprises Suit No 3 5Th Floor Liberty Height 75/A Gulberg Ii Lahore

Shahzada Ahsan Ashraf 35201-8342906-9 Muhammad Ashraf 204 - 440 440 - - - 644 204 - 440 440 - - - 644

337 Syed Sohail Raza Rizvi H No 12-Q, Link Road, Model Town, ,Lahore

Syed Sohail Raza Rizvi 35200-1455456-7 Sed Munawar Hussain Rizvi

323 - 519 519 - - - 843 323 - 519 519 - - - 843

338 Muhammad Ashraf H No 3 St No 9 Ramnagar Rajgar Lahore

Muhammad Ashraf 35202-2803625-9 Ch Namet Ali 501 - 742 742 - - - 1,244 501 - 742 742 - - - 1,244

339 Muhammad Shahid Well Dress Garments Shop No 15 Ground Floor Chad Centre Rang Mehal Lahore

Muhammad Shahid 35202-2301559-1 M Ashfaq 444 - 660 660 - - - 1,103 444 - 660 660 - - - 1,103

340 Muhammad Rafique H No 8 A St No 167 A Chaman Park Baghban Pura Lahore

Muhammad Rafique 35201-1595479-7 Atta Muhammad 226 - 378 378 - - - 604 226 - 378 378 - - - 604

341 Hamid Khursheed H No 85-A Ali Block Awan Town Multan Road Lahore

Hamid Khursheed 33301-7836141-3 Muhammad Sharif 198 - 409 409 - - - 607 198 - 409 409 - - - 607

342 Syed Mashhudul Hassan Novel Technics,Off No 49-50/A Gallemar One Plaza Peco Road Township Near Mochipura Stop Lahore

Syed Mashhudul Hassan 35202-2591521-5 S Mehmood Ul Hassan 228 - 361 361 - - - 590 228 - 361 361 - - - 590

343 Faisal Javed Crown Autos Iqbal Park Near Main Gate Street 12 Defence Housing Authority Lahore Cantt

Faisal Javed 35202-2755775-9 Javed Feroz 252 - 389 389 - - - 642 252 - 389 389 - - - 642

344 Amir Ali Qureshi Photo Shop 90 Chamber Lain Road Masjid Mai Ladp,Lahore

Amir Ali 35202-5843816-5 Ghulam Hassan Qureshi 483 - 777 777 - - - 1,259 483 - 777 777 - - - 1,259

345 Najam Ul Hassan Feild Care Pvt. Ltd Office No 46 1St Floor Israr Center Block B1 Jouhar Town Lahore

Najam Ul Hassan 35202-2569243-3 Hassan Akhtar 184 - 317 317 - - - 501 184 - 317 317 - - - 501

346 Awais Khalid Awais Autos 93 Lytton Road Lahore

Awais Khalid 35201-5717535-1 M Khalid 200 - 344 344 - - - 544 200 - 344 344 - - - 544

347 Awais Mehdi Tahir Brothers 53 New Alamgeer Market Shah Alam Lahore

Awais Mehdi 35202-1643714-9 Sh Tahir 200 - 307 307 - - - 507 200 - 307 307 - - - 507

348 Jamshaid Ur Rehman Butt H No 43 Charagh Park Shadbagh Lahore

Jamshaid Ur Rehman Butt 35202-6161581-1 Muhammad Jmeel Butt 353 - 545 545 - - - 898 353 - 545 545 - - - 898

349 Syed Mohsin Ali 42- Cooper Road, Lahore

Syed Mohsin Al 35201-1444261-7 Syed Sarwat Ali 344 - 525 525 - - - 870 344 - 525 525 - - - 870





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



350 Syed Kamran Ali Beadon Aluminum Pvt Ltd 8-Live Stock Building 16-Copper Road Lahore

Syed Kamran Ali 35201-3202378-1 Syed Azhar Ali 258 - 399 399 - - - 658 258 - 399 399 - - - 658

351 Waseem Iqbal Waseem Brothers 37 Meco Steel Sheet Loha Market Landa Bazar ,Lahore

Waseem Iqbal 35102-5339575-9 242 - 401 401 - - - 643 242 - 401 401 - - - 643

352 Muhammad Shah Nawaz Ameer Cloth House Syed Bukhtiyae Shah Gillani Market Shop No 4 Pakistani Chowk Near Habib Bank Icchra Lahore

Muhammad Shah Nawaz 35202-3008007-9 Muhammad Akram 273 - 426 426 - - - 699 273 - 426 426 - - - 699

353 Muhammad Arshad Eastern Trading Corporation 11 Amin Market Nishter Road Nr Abl ,Lahore

Muhammad Arshad 35202-8788211-3 Mian Muhammad 303 - 493 493 - - - 796 303 - 493 493 - - - 796

354 Muhammad Raiz Rana Nest Builders 7 Associates 42 Commercial Zoon Defence Lane Ghazi Road ,Lahore

Muhammad Raiz Rana 35201-1485963-1 Muhammad Shafi Rana 253 - 404 404 - - - 657 253 - 404 404 - - - 657

355 Muhammad Azam Diamond Traders Suit No 7 1St Flr Farooq Centr Lahore Hotel Mcleod Road Lahore

Muhammad Azam 35202-4055981-5 Muhammad Hussain 202 - 335 335 - - - 537 202 - 335 335 - - - 537

356 Khalid Mahmood Auto Roots Workshop E-18 Ground Floor Abid Road Mian Walton Road Cantt Lahore

Khalid Mahmood 35201-2147379-1 Nazaam Din 202 - 321 321 - - - 523 202 - 321 321 - - - 523

357 Nadeem Ahmed Nashat Nishat House St No 61 S Behind Old Police Station Ghaziabad Lahore

Nadeem Ahmed Nashat 35201-1016595-3 Abdul Ghafur 203 - 334 334 - - - 537 203 - 334 334 - - - 537

358 Adeel Nazir H No 99 Feroz Din Street Tariq Colony Multan Road Sodiwal Lahore

Adeel Nazir 35202-7157147-1 Malik Muhammad Nazir 294 - 482 482 - - - 776 294 - 482 482 - - - 776

359 Muhammad Tayyab Siddiqi Al Rahim Goods 20 Baber Market 79 Ferozpur Road Lahore

Muhammad Tayyab Siddiqi 35202-2325508-7 Ashfaq Ahmed Sadiqui 201 - 331 331 - - - 532 201 - 331 331 - - - 532

360 Nadeem Sadiq Mian H No 59 A Neelam Block Allama Iqbal Town ,Lahore

Nadeem Sadiq Mian 35202-2808942-7 Choudhry Muhammad Sadiq

180 - 401 401 - - - 581 180 - 401 401 - - - 581

361 Zahid Mahmood H No 13 St No 23 Sultan Pura Lahore

Zahid Mahmood 35202-2844017-5 Tahir Mahmood 400 - 606 606 - - - 1,006 400 - 606 606 - - - 1,006





Interest / Markup

(Undebited)


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Interest / Markup

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Others (Undebited)



362 Muhammad Ali Hussain Butt 431 Nargis Block Allama Iqbal Town Lahore

Muhammad Ali Hussain Butt

35202-3228286-1 Zaheer Ud Din Butt 202 - 304 304 - - - 506 202 - 304 304 - - - 506

363 Syed Saba Sohail H No R 226 Sector 14 B Shadman Town Main Road North Karachi Karachi

Syed Saba Sohail 42101-1767918-0 Syed Sohail Ahmed 300 - 459 459 - - - 759 300 - 459 459 - - - 759

364 Sohail Sunlight Pakistan 1C Office No# 4 Second Floor 3Rd Zamzama Lane Ph 5 Dha Karachi

Sohail 42301-8867671-7 Abdul Sattar 422 - 594 594 - - - 1,017 422 - 594 594 - - - 1,017

365 Javed Ahmed Anjum Asim Shahid Rahman Moderan Motor House 3Rd Floor Beaumont Road Pidc ,Karachi

Javed Ahmed 42101-6094074-3 Muhammad Abdul Qudoos 324 - 473 473 - - - 797 324 - 473 473 - - - 797

366 Tabish Taufiq Blue Chip International Plot Number 9, Muslim Colony Smchs, Block- B Beside Ftc Building Karachi

Tabish Taufiq 42201-3836065-3 Muhammad Taufiq 207 - 308 308 - - - 514 207 - 308 308 - - - 514

367 Sabiha Junaid Farooqi The Country School C-5 Block 13-D Gulshan-E-Iqbal Karachi

Sabiha Junaid Farooqi 42201-9184430-2 Muhammad Junaid 370 - 555 555 - - - 925 370 - 555 555 - - - 925

368 Aslam Aziz Akhai 103/K Block 2 P E C H S Shahrah E Quadeen Karachi

Aslam Aziz Akhai 42201-4051658-9 Akhai Galenika 219 - 334 334 - - - 553 219 - 334 334 - - - 553

369 Mansoor Javed H No 59/1 24Th Lane Khayaban-E-Badban Dha Phase 7 Karachi

Mansoor Javed 42301-8313662-3 Iqrar Hussain 487 - 727 727 - - - 1,214 487 - 727 727 - - - 1,214

370 Syed Hussain Afaq A C B Pvt Ltd 7 Amber Castle Block 6 Shahrah-E-Faisal Karachi

Syed Hussain Afaq 42101-8143345-5 Syed Afaq Hussain 300 - 459 459 - - - 759 300 - 459 459 - - - 759

371 Shamshad Ali Memon Fl No 265/3 Zeenat Terrace Apt No 301 Byjchs 14Th Street Bahadurabad Karachi

Shamshad Ali Memon 42201-4490411-9 M W Memon 391 - 586 586 - - - 977 391 - 586 586 - - - 977

372 Syed Ibne Hasan House No R-570 Ancholi Block 20 F B Area Karachi

Syed Ibne Hasan 42101-8525951-3 Syed Hussain Mohd 370 - 565 565 - - - 935 370 - 565 565 - - - 935

373 Kaneez Sayida Acb Pvt Ltd. 7-Amber Castle Block-6 Shahrah-E-Faisal Pechs Karachi

Kaneez Sayida 42101-7673976-8 Sed Abu Jaffer 200 - 308 308 - - - 509 200 - 308 308 - - - 509

374 Abdul Rehman Khan H/No B-172 Block L Central North Nazimabad Karachi

Abdul Rehman Khan 42101-7048239-3 Abdul Rauf Khan 222 - 371 371 - - - 594 222 - 371 371 - - - 594





Interest / Markup

(Undebited)


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Interest / Markup

(Undebited)


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Others (Undebited)



375 Alamzeb Khan H No : 39 , Street No : 2 Ahbab Colony , Thokar Niaz Baig Lahore- 53700 Lahore

Alamzeb Khan 42000-0494452-9 M Anwer Khan 215 - 321 321 - - - 536 215 - 321 321 - - - 536

376 Muhammad Irshad Ullah Qureshi House No.32 Survey No.464 Near Jannat Ul Barkat Model Colony Karachi

Muhammad Irshad Ullah Qureshi

42201-1296831-3 Muhammad Anayat Ullah Qureshi

308 - 454 454 - - - 762 308 - 454 454 - - - 762

377 Syed Taufiq Ali Mosvi Flat No A-78 Faraz Avenue Rashid Minhas Roa Gulistan-E-Johar Karachi

Syed Taufiq Ali Mosvi 42501-1509460-5 Syed Moharam Husain 301 - 461 461 - - - 761 301 - 461 461 - - - 761

378 Sheikh Abdul Hafeez Punjab Engineering Services 6-R B-12 M A Jinnah Road South Karachi

Sheikh Abdul Hafeez 42301-7311703-1 Sh Abdul Majeed 442 - 662 662 - - - 1,104 442 - 662 662 - - - 1,104

379 Syed Musharaf Ali Naqvi H No R-922 Block 20 F B Area Karachi

Syed Musharaf Ali Naqvi 42101-9654868-7 Syed Moazam Ali 491 - 735 735 - - - 1,225 491 - 735 735 - - - 1,225

380 Muhammad Sarwar A 322/2 Sector 11 G Godara Colony New Karachi ,Karachi

Muhammad Sarwar 36501-1794937-3 Nazir Ahmed 341 - 534 534 - - - 875 341 - 534 534 - - - 875

381 Wali Bhai Valika Wali Bhai Valika 61-A New Quues Road Lalazar Steet No 4 Near Boat Club Karachi

Wali Bhai Valika 42401-1987592-7 Najmuddin Wali Bhai Valika 219 - 331 331 - - - 550 219 - 331 331 - - - 550

382 Syed Shahnawaz Ahmed B-256 Block N North Nazimabad Karachi

Syed Shahnawaz Ahmed 42101-8810566-7 S Maqbool Ahmed 210 - 344 344 - - - 554 210 - 344 344 - - - 554

383 Ahmed Hussain New Indus Autos Part And Car A Shop No 21 Rashid Minhas Road Kda Flats Blk 10-A Gul-E-Iqbal Karachi

Ahmed Hussain 42000-0518887-3 Mumtaz Hussain 374 - 544 544 - - - 918 374 - 544 544 - - - 918

384 Mohammad Younus Karar Usmania Book Centre Shop No 43-A New Urdu Bazar Robson Road Urdu Bazar Karachi

Mohammad Younus Karar 42201-2749316-3 Tayyab Karar 361 - 547 547 - - - 908 361 - 547 547 - - - 908

385 Basharat Ali Khan Fahad Cargo Services, Gate 4 Quaid Azam Truck Stand, St No A-654 Gole Mkt Maripur, Hawksbay Karachi

Basharat Ali Khan 37203-5332378-7 Malik Naseer 457 - 679 679 - - - 1,136 457 - 679 679 - - - 1,136

386 Ibrahim Abdullah Abdullah Enterprises 1-J 51/3 Nazimabad No 1 Karachi

Ibrahim Abdullah 42101-8040148-9 Abdullah Sheikh 500 - 752 752 - - - 1,253 500 - 752 752 - - - 1,253





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



387 Abdul Jabbar Friends Traders A-29/P Site Near B P Bread Khi ,Karachi

Abdul Jabbar 42101-1433194-3 Abdul Sattar 457 - 674 674 - - - 1,131 457 - 674 674 - - - 1,131

388 Munir Ahmed Hashmi Dehli Pakwan Centre Hashmi Centre Sector 11-J Up More North Nr Caltex Pump Karachi

Munir Ahmed Hashmi 42101-2981746-7 Zahoor Ahmed Hashmi 493 - 710 710 - - - 1,203 493 - 710 710 - - - 1,203

389 Malik Abdul Khaliq A-19, Block I, North Nazimabad Karachi

Malik Abdul Khaliq 42000-0381103-1 Malik Abdul Jalil 341 - 540 540 - - - 881 341 - 540 540 - - - 881

390 Sheikh Muhammad Aqeel Bangla D-7Rufi Green Land Socity 13-A Shcme33 Abdul Hasanasfani Road Karachi

Sheikh Muhammad Aqeel 42000-6156658-7 Sheikh M Samir 351 - 546 546 - - - 897 351 - 546 546 - - - 897

391 Saqib Iqbal H No 133-A Sharfabad Block 3 Karachi

Saqib Iqbal 42201-7054208-7 M Iqbal Nagda 191 - 317 317 - - - 508 191 - 317 317 - - - 508

392 Imran Rafi Rafi Marble Plot # 90 Alfateh Colony Chaman Cinema Bara Board Karachi

Imran Rafi 42101-5172675-3 Rafi Uddin 480 - 724 724 - - - 1,204 480 - 724 724 - - - 1,204

393 Khursheed Ali Ansari H No A/22 Sector 11B C/O Azeem General Store North Karachi Karachi

Khursheed Ali Ansari 42101-1764316-5 M Baksh Ansari 345 - 512 512 - - - 857 345 - 512 512 - - - 857

394 Muhammad Azeem Khan Gulberg Decoration Service C/17 Block 12 Gulberg F B Area Karachi

Muhammad Azeem Khan 42201-1491397-5 M Shafi Ul Qadr 500 - 737 737 - - - 1,237 500 - 737 737 - - - 1,237

395 Muhammad Akram H No B-209 Sector 11/B North Karachi Karachi

Muhammad Akram 42101-9886460-1 Abdul Haleem 257 - 404 404 - - - 661 257 - 404 404 - - - 661

396 Abdul Samad Elegant Textile Industries Ci-59-60 Sector 16-B North Karachi Industrial Area Karachi

Abdul Samad 42201-0371566-3 Mohammad Siddique 215 - 339 339 - - - 554 215 - 339 339 - - - 554

397 Muhammad Akram H No 488/2 Ansar Colony Main Bazar Multan

Muhammad Akram 36302-3280323-7 Barkat Ali 338 - 675 675 - - - 1,013 338 - 675 675 - - - 1,013

398 Khuram Saeed Mercolink Electronics 17777/52 Lmq Road Chungi No 8 Multan

Khuram Saeed 36303-2588403-5 Muhammad Saeed 273 - 472 472 - - - 745 273 - 472 472 - - - 745

399 Muhammad Gohar Zaman H No10 Street N Block Z New Multan Multan.03007192069 Multan4550190

Muhammad Gohar Zaman 36302-3985019-3 Munawar Ahmad Khan 195 - 307 307 - - - 502 195 - 307 307 - - - 502





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



400 Sagheer Ahmed H No 236 St No 6 Muhalla Din Pura Samijabad No 1 Multan

Sagheer Ahmed 36302-0334248-3 Muhammad Ramzan 285 - 470 470 - - - 756 285 - 470 470 - - - 756

401 Mirza Sultan Mehmood Baig H No 2161-W8M Muhalla Cheeta Wan Shah Rassal Road Multan

Mirza Sultan Mehmood Baig

36302-2554218-9 Mirza Mukhtar Ahmed Baig 302 - 436 436 - - - 738 302 - 436 436 - - - 738

402 Fayyaz Ul Hassan W S Farms New Mubarik Pura Rodas Road Road Sialkot Sialkot

Fayyaz Ul Hassan 34603-7209250-9 Ch Muhammad Ishaq 451 - 699 699 - - - 1,150 451 - 699 699 - - - 1,150

403 Ali Faroqq Cheema Sardar Pak Daska Road, Nr,Tata Factory, ,Sialkot

Ali Faroqq Cheema 34603-4833812-7 Farooq Ahmed Cheema 339 - 524 524 - - - 862 339 - 524 524 - - - 862

404 Bilal Bashir King Z Sports Kashmir Road, Sublime Chowk, ,Sialkot

Bilal Bashir 34603-9479420-9 Muhammad Bashir 389 - 617 617 - - - 1,006 389 - 617 617 - - - 1,006

405 Umer Farooq Cheema Sardar Pak Po Box No 20, Daska Road,Nr Recto Sports, ,Sialkot

Umer Farooq Cheema 34603-3583001-7 Choudhary Farooq Ahmed Cheema

197 - 313 313 - - - 510 197 - 313 313 - - - 510

406 Ejaz Ahmad Ejaz Brothers Muhalla Haji Pura Fateh Garh Road Sialkot

Ejaz Ahmad 34603-5446143-3 Muhammad Nawaz 291 - 420 420 - - - 711 291 - 420 420 - - - 711

407 Rehan Iqbal New Decent Medicose 33 Ali Park New Civil Line Pak Pura Sialkot

Rehan Iqbal 34603-6803925-1 Sheikh M Iqbal 300 - 465 465 - - - 765 300 - 465 465 - - - 765

408 Rizwan Iqbal New Decent Medicose 33-Ali Park New Civil Line Pak Pura Sialkot

Rizwan Iqbal 34603-6802975-1 Muhammad Iqbal 308 - 478 478 - - - 785 308 - 478 478 - - - 785

409 Muhammad Ali Raza Mekasomed Enterprises St No 2 Muhalla Islamabad Ugoki O-O Khas Sialkot

Muhammad Ali Raza 34603-0434281-1 Muhammad Irshad 202 - 323 323 - - - 524 202 - 323 323 - - - 524

410 Jamshed Ali Nazeer Xray And Ultrasound Masjid Road Jamia Masjid ,Nawabshah

Jamshed Ali 45402-2000384-5 Ghulam Rasool 402 - 622 622 - - - 1,024 402 - 622 622 - - - 1,024

411 Intzar Hussain Talah And Shaikh Brothers Station Road Sakrand ,Nawabshah

Intzar Hussain 42101-3758542-1 Nizam Ul Din 196 - 326 326 - - - 522 196 - 326 326 - - - 522

412 Sharif Ud Din Village Tali P/O Taluka Sakran D Taluka Sakrand Nawabshah

Sharif Ud Din 45403-0793753-9 Moin Uddin 464 - 742 742 - - - 1,206 464 - 742 742 - - - 1,206

413 Shakeel Ahmed Grace Silk Centre Tayaba Shop No 10 Katchery Road ,Nawabshah

Shakeel Ahmed 45402-7513523-3 Basher Ahmed 249 - 415 415 - - - 664 249 - 415 415 - - - 664





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



414 Nadeem Muzaffar H No F-52 Mohalla Neha Bazar, Jehlum ,Jhelum

Nadeem Muzaffar 37301-2343251-1 Muzaffar Hussain Qureshi 176 - 425 425 - - - 601 176 - 425 425 - - - 601

415 Syed Raza Hussain Shah Syed Traders Railway Line Saray Alamgir ,Jhelum

Syed Raza Hussain Shah 34203-7819228-5 Syed Shahzada Hussain Shah

202 - 324 324 - - - 527 202 - 324 324 - - - 527

416 Imran Safdar S R Traders Lahore More Jhelum ,Jhelum

Imran Safdar 37301-2277326-3 Safdar Ali Khan 232 - 349 349 - - - 581 232 - 349 349 - - - 581

417 Hafiz Waqas Mazhar Shaikh Communication Ufone Dea Gt Road Dina ,Jhelum

Hafiz Waqas Mazhar 34202-5075757-3 Muhammad Mazhar Hussain

202 - 323 323 - - - 525 202 - 323 323 - - - 525

418 Khawar Mushtaq Chisti H No B-Iii-1761, Chishti Lodge, Mohalla Chishtian, ,Bahawalpur

Khawar Mushtaq Chisti 31202-8141901-9 Muhammad Mushtaq Hussain Chist

205 - 305 305 - - - 510 205 - 305 305 - - - 510

419 Shahzad Ahmed Aero Pak 6-A Trust Plaza Gt Road Gujranwala

Shahzad Ahmed 34101-3494036-1 Sarfaraz Ahmed 338 - 518 518 - - - 856 338 - 518 518 - - - 856

420 Muhammad Kashif Kashif And Brothers Mineral Tr Deuora Phatak Gt Road Gujranwala

Muhammad Kashif 34101-2729673-3 Muhammad Aslam 243 - 380 380 - - - 623 243 - 380 380 - - - 623

421 Naveed Asghar H.49 Cb Bazar Area Gujranwala Cantt Gujranwala Gujranwala

Naveed Asghar 34101-6455041-5 Asghar Ali Cheema 206 - 307 307 - - - 513 206 - 307 307 - - - 513

422 Muhammad Munir H No 8 Gali Iqra School Wali Shaheen Abad P O Climax Abad Gujranwala

Muhammad Munir 34101-9106430-1 Muhammad Nazeer 294 - 449 449 - - - 744 294 - 449 449 - - - 744

423 Chaudhay Khuram Shah Nawaz Al Hamd Traders Al Hamd Group Gill Road Hameed Colony ,Gujranwala

Chaudhay Khuram Shah Nawaz

34101-2458031-5 Shahnawaz Chaudhary 265 - 389 389 - - - 654 265 - 389 389 - - - 654

424 Mujahid Iqbal Alvi Steel Decorater Alvi Gril Maker Main Gt Road Mor Eminabad Nr Railway Cros,Gujranwala

Mujahid Iqbal 34101-2632687-9 Muhammad Ashraf 245 - 371 371 - - - 616 245 - 371 371 - - - 616

425 Muhammad Rafaq Younas & Sons Usman Colony,St.4,Galla Patwar I Wala,Noshera Road, Gujranwala

Muhammad Rafaq 34101-4349000-3 Muhammad Younis 248 - 366 366 - - - 614 248 - 366 366 - - - 614

426 Muhammad Fakhr Ul Zaman Dogar Zaman Grain Market Pakpattan ,Sahiwal

Muhammad Fakhr Ul Zaman Dogar

36402-5151984-7 Sardar Nawazish Ali 219 - 322 322 - - - 541 219 - 322 322 - - - 541

427 Ghulam Safdar Gulsan Farid Colony Raliway Road H No 2 Gali No 2 Pakpattan

Ghulam Safdar 36402-8480735-3 Nawab 198 - 318 318 - - - 516 198 - 318 318 - - - 516





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



428 Jamshaid Bashir H No 350 St B-Vii Fateh Shair Colony Sahiwal

Jamshaid Bashir 36502-3493021-9 Bashir Ahmed 424 - 614 614 - - - 1,038 424 - 614 614 - - - 1,038

429 Saleem Hashmat Indus Tv Network 3Rd Floor Shafi Courts Meriwethar Road Saddar Karachi

Saleem Hashmat 42201-7613715-3 Kanwer Hashmat 483 - 712 712 - - - 1,195 483 - 712 712 - - - 1,195

430 Syed Zeeshan Abbas H No R-604 Sector 15-A-4 Buffer Zone North Karachi, Karachi

Syed Zeeshan Abbas 42101-1421211-5 Syed Nisar Abbas 326 - 501 501 - - - 827 326 - 501 501 - - - 827

431 Shaikh Abdul Rahim Plastic Technology Centre College Of Polymer Engineering St-2/1 Sec 30 Korangi I Area Karachi

Shaikh Abdul Rahim 42201-2315997-3 Abdul Rasheed 231 - 367 367 - - - 598 231 - 367 367 - - - 598

432 Mirza Raza Amir H No R-144 Block 6 Gulshan-E-Iqbal Karachi

Mirza Raza Amir 42201-1088114-7 Mirza M Hassan 206 - 331 331 - - - 537 206 - 331 331 - - - 537

433 Missbha Ud Din 1St Floor, 287,P.I.B Colony ,Karachi

Missbha Ud Din 42201-0739347-5 Ashfaq Ahmad Kharimi 260 - 396 396 - - - 655 260 - 396 396 - - - 655

434 Syed Yawar Abbas H No R-604 Sector 15-A-4 Buffer Zone North Karachi ,Karachi

Syed Yawar Abbas 42101-0479818-5 Syed Nissaer Abbas 422 - 633 633 - - - 1,056 422 - 633 633 - - - 1,056

435 Muhammad Rashid Khan Banglow No 57 Sheet No 22 Model Colony Malir Karachi

Muhammad Rashid Khan 42000-4592277-3 Vilayat Khan 213 - 333 333 - - - 546 213 - 333 333 - - - 546

436 Irfan Sattar H No B-52 City Homes Block 13-D-2 Gulshan-E-Iqbal ,Karachi

Irfan Sattar 42201-0593918-5 Abdul Sattar 404 - 598 598 - - - 1,002 404 - 598 598 - - - 1,002

437 Moona Farhan 332-334 2Nd Floor Fl No 3 Qasi Center Block 2 Pechs ,Karachi

Moona Farhan 42201-1643152-4 Muhammad Farhan Qureshi

502 - 775 775 - - - 1,277 502 - 775 775 - - - 1,277

438 Mushtaq Ali Jivani Flat No C-106 Ml Paradise Nishter Park Solder Bazar No 2 ,Karachi

Mushtaq Ali Jivani 42301-0847957-1 Hussain Ali 502 - 753 753 - - - 1,255 502 - 753 753 - - - 1,255

439 Mohammed Junaid Decent Cars 148-A Alama Iqbal Road Block 2 Pechs Karachi

Mohammed Junaid 42201-9461111-9 Muhammad Saleem 252 - 399 399 - - - 651 252 - 399 399 - - - 651

440 Muhammad Imran H No B-1/2 Block A Kazimabad Model Colony ,Karachi

Muhammad Imran 42201-9329481-7 Muhammad Suleman 286 - 464 464 - - - 750 286 - 464 464 - - - 750

441 Syed Tahir Hasan Tahir Furniture Plot No C-7 Ishaqabad Sir Shah Suleman Road F B Area Karachi

Syed Tahir Hasan 42101-0331090-9 S Azhar Hasan 260 - 432 432 - - - 691 260 - 432 432 - - - 691





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



442 Muhammad Imran Kayani Pak Autos 78 - C 22 Commercial Street Dha Phase 2 Extension Karachi

Muhammad Imran Kayani 42201-0609905-7 M Sabir Kayani 503 - 806 806 - - - 1,309 503 - 806 806 - - - 1,309

443 Mohammad Amin Mughal Plot No 385 No 5 Allama Iqbal Colony Mehmoodabad Karachi

Mohammad Amin Mughal 42301-0800937-9 Allah Dita 222 - 359 359 - - - 581 222 - 359 359 - - - 581

444 Farhan Ibrahim Flat No A 38 Block 20 Mazia Square Al Noor More F B Area Karachi

Farhan Ibrahim 42101-1554481-3 Ibrahim 347 - 555 555 - - - 902 347 - 555 555 - - - 902

445 Syed Imtiaz Ul Haq Bukhari C-26 Block No 6 Gulshan E Iqbal Karachi

Syed Imtiaz Ul Haq Bukhari 42201-2983522-1 Anzar Ul Haq 395 - 638 638 - - - 1,033 395 - 638 638 - - - 1,033

446 Muhammad Zia Khalil Khalil Packages L-29/B Block 21 F B Industrial Area Karachi

Muhammad Zia Khalil 42201-6524810-7 Muhammad Khalil 442 - 678 678 - - - 1,120 442 - 678 678 - - - 1,120

447 Asif Moin H No R-555 Sector 15-B Buffer Zone North Karachi Karachi

Asif Moin 42101-8147430-9 Moin Ud Din 494 - 758 758 - - - 1,252 494 - 758 758 - - - 1,252

448 Abdul Raheem Johar North Communication Near Data Flying Coach Bahawalnagar

Abdul Raheem Johar 31101-1663240-3 Muhammad Shoaib Paracha

220 - 468 468 - - - 688 220 - 468 468 - - - 688

449 Abdul Qadir A-9 Rehmanabad Near Al Noor Biryani Centre Drigh Road Karachi

Abdul Qadir 42201-0469800-7 Qazi Abdul Malik 503 - 806 806 - - - 1,308 503 - 806 806 - - - 1,308

450 Kamran Hussain Quality Car Decoration Point Shop No 3 Al Siraj Square Block 14 F B Area Karachi

Kamran Hussain 42101-8037228-3 Zahoor Hussain 502 - 780 780 - - - 1,282 502 - 780 780 - - - 1,282

451 Riaz Ahmed Millat Book Point Shop No 493-1 Bangla Bazar Sec 15-A Orangi Town Karachi

Riaz Ahmed 42401-1945091-1 Abdul Ghafoor 502 - 739 739 - - - 1,241 502 - 739 739 - - - 1,241

452 Syed Aamir Iqbal Quality Textile Plot No 240 11-E Orangi Town ,Karachi

Syed Aamir Iqbal 42101-0276643-1 Syed Iqbal Hussain 502 - 778 778 - - - 1,280 502 - 778 778 - - - 1,280

453 Muhammad Tasneem Ul Haq Flat No B-18 Nadeem Arcade 4 Th Floor Shadman Town Sec 14-B North Nazimabad Town Karachi

Muhammad Tasneem Ul Haq

42101-1108324-5 Muhammad Zaheer Ul Haq 336 - 543 543 - - - 879 336 - 543 543 - - - 879

454 Raja Jawed Sultan H No 739/19 Al Noor Socieity F B Area ,Karachi

Raja Jawed Sultan 42101-3099261-1 Raja Muhammad Inyat Khan

502 - 790 790 - - - 1,292 502 - 790 790 - - - 1,292





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



455 Altaf Hussain Arsal Metal Scarp Plot No 125 Gali No 11 Block A Sher Shah Karachi

Altaf Hussain 35201-1690262-7 Gulam Hussain 490 - 734 734 - - - 1,223 490 - 734 734 - - - 1,223

456 Khawaja Zaheer Ahmed Fl No A-31 4Th Floor Noman Avenue Rashind Minhas Gulistan-E-Johar Karachi

Khawaja Zaheer Ahmed 42101-1416840-3 Khawaja Nazeer 307 - 484 484 - - - 791 307 - 484 484 - - - 791

457 Adnan H No R-101 Block 5 Azizabad F B Area Karachi

Adnan 42101-1847436-5 Fazal Mehmood 470 - 743 743 - - - 1,212 470 - 743 743 - - - 1,212

458 Muhammad Anis H No 4/377 Street 4 Liaquatabad Karachi

Muhammad Anis 42101-1938382-9 Mohammad Hanif 329 - 618 618 - - - 947 329 - 618 618 - - - 947

459 Shaikh Mohammad Yousuf Abbasi Shaheed Chemist, Shop No.3-8-8/39, Near Abbasi Shaheed Hospital, Karachi

Shaikh Mohammad Yousuf 42101-7289624-9 Shaikh Mohammad Younus 502 - 767 767 - - - 1,269 502 - 767 767 - - - 1,269

460 Ahmed Mehmood Bangee Ahmed Mamoojee Bangee 9/5 Qazi Court Bldg Boulton Market Road Karachi

Ahmed Mehmood Bangee 42101-1750319-5 Mahmood Dawood 434 - 690 690 - - - 1,124 434 - 690 690 - - - 1,124

461 Muhammad Aamir Khurshid Malik Rehman Interpreises Shop No 1410 Chalias Ka Road Sector 8-L Orangi Town Karachi

Muhammad Aamir Khurshid Malik

42401-3263428-5 Muhammad Abdul Rehman 190 - 312 312 - - - 503 190 - 312 312 - - - 503

462 Abdul Sattar Sattar Brothers Plot No C-6 Ishaqabad Shah Suleman Road Liaquatabad Karachi

Abdul Sattar 42101-1809933-9 Iqrar Hussain 490 - 761 761 - - - 1,251 490 - 761 761 - - - 1,251

463 Hassan Sardar 43-C Scheme 33 Block 1A Gulistan-E-Johar ,Karachi

Hassan Sardar 42201-6786905-9 Sardar Ali 495 - 729 729 - - - 1,225 495 - 729 729 - - - 1,225

464 Momen Khan Momen Khan Block And Tile Beam Plot No 7 St /7 Universal Town Korangi No 1-1/2 Pappan Chowk,Karachi

Momen Khan 42201-3515741-5 Mohammad Ghani 223 - 346 346 - - - 569 223 - 346 346 - - - 569

465 Mohammad Saleem H No R-122 Sector 15 A-3 Buffer Zone North Karachi ,Karachi

Mohammad Saleem 42101-1189824-7 Mohammad Ismail 323 - 518 518 - - - 842 323 - 518 518 - - - 842

466 Nain Ul Raza Shabbir Mobiles Point,Shop No A-1 Saima Drivein Mob Elec Mall Adj Honda Sh.Room Rashid Minhas Rd Karachi

Nain Ul Raza Shabbir 42201-2933242-5 Shabbir Ahmed Qazi 433 - 685 685 - - - 1,118 433 - 685 685 - - - 1,118





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



467 Afzal Mehmood Khan H No R-421 Sector 14-A Shadman Town North Nazimabad ,Karachi

Afzal Mehmood Khan 42101-2958411-3 Muhammad Mahmood Khan

504 - 782 782 - - - 1,287 504 - 782 782 - - - 1,287

468 Muhammad Nasir H No 63 Sector 6-C Orangi Town Karachi

Muhammad Nasir 42401-2630782-5 Abdul Habib 483 - 769 769 - - - 1,252 483 - 769 769 - - - 1,252

469 Muhammad Adeel Irshad Ishaq Brothers Jewellers 5-A-12/17-1 Sarafa Bazar Paposh Nagar, Nazimabad Karachi

Muhammad Adeel Irshad 42101-1797703-7 Irshad Ahmed Qureshi 494 - 742 742 - - - 1,236 494 - 742 742 - - - 1,236

470 Malik Muhammad Shakil Plot No-D/17, Shop No-I & 3 Shah Faisal Colony No-1 Eat Karachi

Malik Muhammad Shakil 35202-5832996-1 448 - 669 669 - - - 1,116 448 - 669 669 - - - 1,116

471 Muhammad Ejaz Taimori Fl No A-102 Block A Prime Arcade Metrovil 3Rd Blk Gulzar-E-Hijri Karachi

Muhammad Ejaz Taimori 42201-0450171-9 Bidar Bukht 502 - 779 779 - - - 1,282 502 - 779 779 - - - 1,282

472 Muhammad Saleem Fl No 9/10 1St Floor Romaan Building Robson Road Burns Road Karachi

Muhammad Saleem 42301-9242268-3 Ghulam Mohammad 329 - 556 556 - - - 885 329 - 556 556 - - - 885

473 Mohammad Saleem 5,C/2 L 399. Bilal Town North Karachi ,Karachi

Mohammad Saleem 42101-3640528-3 Abdul Qadir 355 - 558 558 - - - 913 355 - 558 558 - - - 913

474 Sikander Ali Khan B 52/1 Malir Khokharapar No 5 ,Karachi

Sikander Ali Khan 42501-6897696-5 Abdul Ghaffar 418 - 640 640 - - - 1,058 418 - 640 640 - - - 1,058

475 Iftikhar Ahmed Baqai House No.106-H,First Floor, Block:2,P.E.C.H.S, Distt.East, Karachi

Iftikhar Ahmed Baqai 42301-0754508-9 Anzar Ahmed 256 - 398 398 - - - 653 256 - 398 398 - - - 653

476 Sohail Muhammad Qureshi H No 24 Coustodin Area Old Sabzi Mandi No 2 ,Karachi

Sohail Muhammad Qureshi 42201-2957437-9 Aamer Mohammad Qureshi 473 - 732 732 - - - 1,204 473 - 732 732 - - - 1,204

477 Mohd Naeem Ud Din Sidque Naimuddin And Company Suit No 10 Ebrahim Building West Wharf Road Karachi

Mohd Naeem Ud Din Sidque

42101-1704220-7 Ghulam Moinuddin 244 - 390 390 - - - 633 244 - 390 390 - - - 633

478 Sheikh Abdul Rehman Rehman Traders Off 45 Hemani Center,Bottle Street Shahrah-E-Liaquat,Light House Karachi

Sheikh Abdul Rehman 42301-4507311-5 Sheikh Ihsan Ellahi 490 - 741 741 - - - 1,231 490 - 741 741 - - - 1,231





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



479 Pervaiz Iqbal Zahid 14-Shaheed -E-Millat Market Near Millat Chowk Sheikupura Road Faisalabad Faisalabad

Pervaiz Iqbal Zahid 33100-0945243-9 Abdul Ghani 301 - 464 464 - - - 765 301 - 464 464 - - - 765

480 Waseem Ahmad H No 181 Block-C Gulberg Colony Faisalabad

Waseem Ahmad 33100-3470946-3 Ch Abdul Rasheed 492 - 734 734 - - - 1,225 492 - 734 734 - - - 1,225

481 Muhammad Naeem Al Madina Oxygen Gas Works Opp Crecent Textile Mills Sargodha Road Faisalabad

Muhammad Naeem 33100-8060994-1 Wazir Ali 278 - 568 568 - - - 846 278 - 568 568 - - - 846

482 Muhammad Iftikhar Sun Gas Distributor P-72-A St No 3 Officer Colony No 2 Faisalabad

Muhammad Iftikhar 33100-3182124-1 Nayaz Muhammad 447 - 638 638 - - - 1,085 447 - 638 638 - - - 1,085

483 Imtiaz Ahmad Abdul Rasheed & Abdul Majeed & Shop No 37 Rehmania Road Old Fruit Vegitable Market Faisalabad

Imtiaz Ahmad 33100-3299091-3 Abdul Majeed 210 - 330 330 - - - 540 210 - 330 330 - - - 540

484 Muzifuddin Muhammad Faisal Warid Telecom Ahmed Arcade Canal Road Abdullah Pur Faisalabad

Muzifuddin Muhammad Faisal

35200-8575195-1 Syed Safir Udine 251 - 392 392 - - - 643 251 - 392 392 - - - 643

485 Muhammad Ilyas H No P-104 St No 1 Kehkashan Colony No 2 Hassan Park Juranawala Road Faisalabad

Muhammad Ilyas 33100-1108397-5 Bashir Ahmad 420 - 619 619 - - - 1,039 420 - 619 619 - - - 1,039

486 Abdul Sattar Shahid H No P-188 St No 3 Ali Block Haseeb Shaheed Colony Faisalabad

Abdul Sattar Shahid 35303-6748636-9 Bashir Ahmad Bhatti 297 - 463 463 - - - 760 297 - 463 463 - - - 760

487 Nisar Ahmad Malik Kamil Ahsan Foundaion Secondar H No 309-A Gulberg National Hospital Faisalabad

Nisar Ahmad Malik 33100-0989432-3 Malik Abdul Haq Kamil 403 - 626 626 - - - 1,029 403 - 626 626 - - - 1,029

488 Muhammad Nawaz H No P-193 St No 11 Ayoub Colony Jhang Road Faisalabad

Muhammad Nawaz 33100-0710411-3 Rashid Ahmad 297 - 449 449 - - - 746 297 - 449 449 - - - 746

489 Muhammad Ashiq H No P-18/4 Kothian Wali Gali Partab Nagar Jhang Road Faisalabad

Muhammad Ashiq 33100-3893874-1 Noor Muhammad 303 - 449 449 - - - 752 303 - 449 449 - - - 752

490 Shamim Akhtar H No 302/8 St No 8 Nemat Colony No 2 Faisalabad

Shamim Akhtar 33100-2673525-4 Rana Ali Ahmed 377 - 546 546 - - - 924 377 - 546 546 - - - 924

491 Feryad Ali H No P-423 St No 5/3 Feroz Shah Feroz Shah 224 Munshi Fateh Di Faisalabad

Feryad Ali 33100-0637264-5 Abdul Rehman 202 - 312 312 - - - 514 202 - 312 312 - - - 514





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



492 Muhammad Naveed Razaq Nabil Jewellers Sh No 1 St No 5 Begum Market Anarkali Bazar Makka Jewellers,Faisalabad

Muhammad Naveed Razaq 33100-6357979-9 Muhammad Razaq 202 - 307 307 - - - 509 202 - 307 307 - - - 509

493 Malik Talib Hussain Shama Trading/Ms 7 Group P-1320/21 Block D-A Ghulam Muhammad Abad Faisalabad

Malik Talib Hussain 33102-4553005-7 Malik Abdul Ghani 303 - 485 485 - - - 788 303 - 485 485 - - - 788

494 Sohail Akhter Tipoo Carbon Cube Technologies Suite No.20,Ist Floor,Capital Plaza,Behind Pso Gas Station Markaz G-11, Islamabad

Sohail Akhter Tipoo 61101-0295144-9 Akhter Baig 215 - 335 335 - - - 549 215 - 335 335 - - - 549

495 Nasir Hussain E-Mart Shop G-05,Panorama Cent Double Rd,Cricket Stadium Rawalpindi

Nasir Hussain 61101-4083051-1 Sheikh Tassaduq Hussain 192 - 406 406 - - - 598 192 - 406 406 - - - 598

496 Muhammad Ilyas Sheikh Latif Medical Centre Trade Centre F-11 Markaz Islamabad

Muhammad Ilyas Sheikh 61101-5058257-7 Sheikh Abdul Latif 482 - 677 677 - - - 1,159 482 - 677 677 - - - 1,159

497 Ausaf Manzoor Member Co Ordination Overseas Wing National Bureau Ata Turk Avenue G-5/2 Islamabad

Ausaf Manzoor 61101-2780889-7 Khawaja Ahmed Manzoor 203 - 316 316 - - - 519 203 - 316 316 - - - 519

498 Malik Zulfiqar Ahmed Rawalpindi College Of Commerce Off No F-746 Satellite Town Rawalpindi

Malik Zulfiqar Ahmed 61101-5487395-5 Malik Mir Mohammad 270 - 403 403 - - - 673 270 - 403 403 - - - 673

499 Shafqat Ullah Malik Flat No 2-B Bazar No 11 I-10/4 Near Javed Market Islamabad

Shafqat Ullah Malik 61101-0645804-3 Faqir M Malik 416 - 626 626 - - - 1,042 416 - 626 626 - - - 1,042

500 Raja Fazal Hussain Cave Off No 1-B Awan Arcade Jinnah Avenue Blue Area ,Islamabad

Raja Fazal Hussain 61101-8323776-3 Raja Muhammad Ameer 414 - 644 644 - - - 1,058 414 - 644 644 - - - 1,058

501 Sajad Ali Pirzado Ali Movies Video Market Resham Gali ,Larkana

Sajad Ali Pirzado 43203-4117885-9 Ali Muhammad Pirzado 256 - 411 411 - - - 668 256 - 411 411 - - - 668

502 Imranullah Imran Paint House Bank Al Falah Bander Road ,Larkana

Imranullah 43203-9417865-7 Abdullah Abro 493 - 742 742 - - - 1,236 493 - 742 742 - - - 1,236

503 Abdul Khalique Qureshi Banglow No 1 Street No 1 Srtc Colony Thandi Sarak Hyderabad

Abdul Khalique Qureshi 41306-1111377-7 Qamar Uddin Qureshi 502 - 753 753 - - - 1,255 502 - 753 753 - - - 1,255

504 Muhammad Shakir Variety Shoes Store Shop 2581 Seright Road Hyderabad

Muhammad Shakir 41303-4277041-9 Islam Uddin 486 - 744 744 - - - 1,230 486 - 744 744 - - - 1,230





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



505 Husnain Raza Sayni New Hussaini Furnitures Shop 15/A Ground Floor Al Amna Complex Alamgir Road Hyderabad

Husnain Raza Sayni 41303-2173976-9 Ameer Ali 204 - 313 313 - - - 517 204 - 313 313 - - - 517

506 Rafaquat Ali Asghar Ali M/S Faizan-E-Fareed Cloth Stor Shop 181-182 Azeem Us Shan New Cloth Market ,Hyderabad

Rafaquat Ali Asghar Ali

41303-2342569-9 Shafquat Ali 394 - 621 621 - - - 1,015 394 - 621 621 - - - 1,015

507 Imtiaz Hussain Tunio Imtiaz Hussain And Brothers Ge Shop No 1 Ali Palace Road Qasimabad ,Hyderabad

Imtiaz Hussain Tunio Imtiaz Hussain Tunio

41306-0862873-3 Sahib Dino 292 - 449 449 - - - 741 292 - 449 449 - - - 741

508 Ilamud Din Keerio Faisal Builders Shop No B-28 Ground Floor Gmb Colony Qasimabad Mary Land Hosp,Hyderabad

Ilamud Din Keerio 45205-4950879-1 Muhammad Wazir Keerio 474 - 715 715 - - - 1,188 474 - 715 715 - - - 1,188

509 Imran Ali Contact Plus Dept Marketing Banglow No A/45 Unit No 3 Latifabad Hyderabad

Imran Ali 44203-9391107-1 Ghulam Qadir 219 - 335 335 - - - 554 219 - 335 335 - - - 554

510 Muhammad Pervaiz H No 271 St No 3 Masjid Sadiq Akbar Muqaam E Hayat Sargodha

Muhammad Pervaiz 38403-8568180-9 Allah Ditta 196 - 304 304 - - - 500 196 - 304 304 - - - 500

511 Muhammad Imran Khan H No 15/7, Block Z Iqbal Colony Sargodha

Muhammad Imran Khan 38403-2064240-5 Abdul Rauf Khan 292 - 453 453 - - - 745 292 - 453 453 - - - 745

512 Sabir Ali Info Tech Systems Services 91-Ground Flr Trust Plaza Sharja Mobile ,Sargodha

Sabir Ali 38403-9928925-7 Rao Nasir Ali 203 - 301 301 - - - 505 203 - 301 301 - - - 505

513 Muhammad Nadeem Shahzad Bhatti Iqra Traders Chowk Block No 20 Nr Younis Tika Shop ,Sargodha

Muhammad Nadeem Shahzad Bhatti

35201-1443768-7 Munawar Hussain Shahzad 287 - 432 432 - - - 719 287 - 432 432 - - - 719

514 Babar Zulfiqar H No 229 Gali No 4 Gulshan Hayat Colony Near Civil Hospital Sargodha

Babar Zulfiqar 38403-2221053-3 Zulfiqar Ali 223 - 330 330 - - - 553 223 - 330 330 - - - 553

515 Yasir Adeel 91 Near Road Grain Market Sargodha

Yasir Adeel 38403-2237390-3 Shaikh Majeed Ahmed 233 - 368 368 - - - 601 233 - 368 368 - - - 601

516 Muhammad Hafeez Ur Rehman New Malik Medical Store Block 1 Post Office Road Tma Chowk,Sargodha

Muhammad Hafeez Ur Rehman

38401-0305966-9 Mehboob Ahmad 297 - 440 440 - - - 736 297 - 440 440 - - - 736





Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



Interest / Markup

(Undebited)


Others (Debited)

Others (Undebited)



517 Muhammad Waqas Shafi H No 100,St No 3 Canal Park Sarogodha

Muhammad Waqas Shafi 38403-4143244-7 Muhammad Shafi 199 - 303 303 - - - 502 199 - 303 303 - - - 502

518 Asim Shehzad Chak Umra Post Office Khas Chakwal

Asim Shehzad 37201-1787246-3 Manzoor Hussain 502 46 - 46 34 - 34 583 502 46 - 46 34 - 34 583

519 Siddique Aslam Building # 13-C, Street # 3 2Nd Floor Small Bhukhari Commercial Dha Phase Vi

Siddique Aslam 35202-6097017-5 Mohammad Aslam Gondal 439 61 - 61 16 - 16 516 439 61 - 61 16 - 16 516

520 Sh M Shafi 5 Canal Park Gulberg Ii

Sh M Shafi 35202-1783443-5 Abdul Ghani 484 57 - 57 13 - 13 554 484 57 - 57 13 - 13 554

521 Ali Raza Cheema H No P 275 Main Road Sarfraz Colony

Ali Raza Cheema 33100-3794977-7 Shukat Ali Chima 509 68 - 68 24 - 24 601 509 68 - 68 24 - 24 601

522 Nasim Ahmed H No 41-A/2 11Th Street Phase 2 Dha South

Nasim Ahmed 42301-2904036-5 Manzoor Ul Haq 486 59 - 59 18 - 18 562 486 59 - 59 18 - 18 562

523 Tauqir Hussain H No 334 Block X Dha

Tauqir Hussain 35201-1494766-5 M Hussain Shah 455 46 - 46 12 - 12 513 455 46 - 46 12 - 12 513

- Total 3,443,256 1,083,905 910,572 1,994,477 116 - 116 5,437,849 1,901,454 1,207,806 906,044 2,113,850 116 1,419 1,535 4,016,838

Disposals of operating fixed assets during the year 2016

Items having book value of more than Rs. 250,000or cost of more than Rs. 1,000,000

Land & BuildingFreehold Land

Saleh Muhammad Street Branch, Karachi 27,357 - 27,357 29,000 Auction Afzal Habib Rampart Raow, Karachi 9,568 - 9,568 10,500 Auction Muhammad Asif Zai

36,925 - 36,925 39,500Vehicles

Mercedes Benz CGI 8,713 7,841 872 1,743 Buy Back Aameer Karachiwalla - EmployeeMercedes Benz CGI 8,766 7,889 877 1,753 Buy Back Muhammad Ejazuddin - EmployeeMercedes Benz CGI 8,731 7,857 874 1,746 Buy Back Aqeel Ahmed Nasir - EmployeeHonda Accord 2,800 2,520 280 1,038 Auction Nusrat Iqbal

#### Toyota Corolla 1,014 913 101 903 Auction Saeed Ur Rehman#### Toyota Corolla 1,014 913 101 927 Auction Nusrat Iqbal#### Toyota Corolla 1,014 913 101 910 Auction Nusrat Iqbal#### Toyota Corolla 1,014 913 101 922 Auction Nusrat Iqbal#### Toyota Corolla 1,014 913 101 922 Auction Nusrat Iqbal#### Toyota Corolla 1,309 1,178 131 706 Auction Sultan Hassan Khan#### Toyota Corolla 1,014 913 101 918 Auction Nusrat Iqbal#### Toyota Corolla 1,014 913 101 880 Auction Said Faqir#### Toyota Corolla 1,014 913 101 933 Auction Nusrat Iqbal#### Toyota Corolla 1,014 913 101 943 Auction Nusrat Iqbal#### Honda Civic 1,043 939 104 770 Auction Zahid Qadri#### Toyota Corolla 1,014 913 101 925 Auction Nusrat Iqbal#### Toyota Corolla 1,389 1,250 139 978 Auction Nusrat Iqbal#### Toyota Corolla 1,389 1,250 139 1,015 Auction Khalid Anwar#### Toyota Corolla 1,389 1,250 139 964 Auction Nusrat Iqbal#### Toyota Corolla 1,411 1,270 141 939 Auction Muhammad Nasir Khan#### Toyota Corolla 1,389 1,250 139 887 Auction Nusrat Iqbal#### Toyota Corolla 1,389 1,250 139 964 Auction Nusrat Iqbal#### Toyota Corolla 1,389 1,250 139 1,021 Auction Khalid Anwar#### Toyota Corolla 1,324 1,192 132 1,013 Auction Sultan Zaib#### Toyota Corolla 1,389 1,250 139 974 Auction Nusrat Iqbal#### Suzuki Jimmy 1,857 1,857 - 978 Auction Muhammad Siddiuqe#### Toyota Corolla 1,389 1,250 139 938 Auction Nusrat Iqbal

57,206 51,673 5,533 27,610

Electrical, office andcomputer equipment

Atm Machine 1,014 1,014 - 104 Auction Innovative Pvt LtdAtm Machine 1,014 1,014 - 104 Auction Innovative Pvt LtdAtm Machine 1,014 1,014 - 106 Auction Innovative Pvt LtdAtm Machine 1,014 1,014 - 106 Auction Innovative Pvt LtdAtm Machine 1,014 1,014 - 106 Auction Innovative Pvt LtdAtm Machine 1,014 1,014 - 104 Auction Innovative Pvt LtdAtm Machine 1,014 1,014 - 104 Auction Innovative Pvt LtdAtm Machine 1,014 1,014 - 104 Auction Innovative Pvt LtdAtm Machine 1,014 1,014 - 104 Auction Innovative Pvt LtdAtm Machine 892 260 632 104 Auction Innovative Pvt LtdGenerator 2,151 2,151 - 523 Auction Alhaj Global

12,169 11,537 632 1,569

Items having book value of less than Rs. 250,000and cost of less than Rs. 1,000,000

Others 90,185 86,345 3,840 22,524 Total 196,485 149,555 46,930 91,203

Annexure 'C' As Referred to in Note 11.7 ofUnconsolidated Financial Statements

--------------(Rupees in '000)--------------

Cost Accumulated depreciation

Book value

Sale proceeds

Mode of disposal

Particulars of Buyers

Documents

United Bank Limited · 2.9% in 2016. The anks net loans and advances grew by 12% over Dec15 to close at Rs. 510.1 billion (Dec15: Rs. 455.4 billion). The lending strategy is focused