U BL Financial Statements Dec 16 Stand Alone

United Bank Limited
UNCONSOLIDATED FINANCIAL STATEMENTS

AS AT DECEMBER 31, 2016
UNITED BANK LIMITED
DIRECTORS’ REPORT TO THE MEMBERS 2016
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.
Standalone Results - Rs. in billion 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
42.17 46.02 recorded at Rs. 28.00 billion, an increase of
25.73 27.73 4% over the prior year (2015: Rs. 27.01
billion). The Earnings per share stood at Rs.
PBT PAT 22.65 per share for the year ended 2016 in
2015 2016 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%.
1
UNITED BANK LIMITED
Net Markup Income
Rs. in billions
55.84 57.04 The prevailing low interest rate
60.00 8.0%
environment along with the
50.00 7.0%
savings floor continued to
6.0%
40.00
5.0% constrict banking margins. These
30.00 5.6%
4.7% 4.0% challenges notwithstanding, UBL
20.00 has expanded its Net Markup
3.0%
10.00 2.0% Income by 2%, closing 2016 at Rs.
- 1.0% 57.04 billion. Net interest margin
2015 2016 was recorded at 4.7% in 2016
Net Interest Income Net Interest Margin (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 Rs. in billions
to strengthen the overall revenue profile of the 7%

bank. Earnings are built on a diverse range of
services, from fee based facilities across Retail
Bank and UBL’s flagship branchless banking 23.61
service, Omni. Trade and investment banking 21.99
services across Corporate as well as leading
positions within Treasury and Capital markets
continue to grow and diversify revenue
2015 2016
potential. The overall contribution of Non Mark
Non Interest Income
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
2
UNITED BANK LIMITED
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.
Rs. in billions
Provisions and loan losses
3.71
The net provisioning expense
decreased by 53% from Rs. 3.71
1.74 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
2015 2016
improvement can be attributed to
credit quality considerations driving
Total Provisions
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
UNITED BANK LIMITED
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.
Rs. in billions Balance Sheet Management

121
120 UBL’s balance sheet size reached Rs. 1.58
trillion as at Dec’16, an increase of 13%
12.2%
over Dec’15. The Bank’s overall deposits
1,059 grew by 12% over Dec’15 to reach Rs. 1.18
931
trillion (2015: Rs. 1.05 trillion). Average
domestic deposits grew by 14% over
Dec’15 with market share recorded at
2015 2016 8.66% in 2016 (2015: 8.55%). Our deposit
Core Deposits Non-Core Deposits 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%
4
UNITED BANK LIMITED
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
5
UNITED BANK LIMITED
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
6
UNITED BANK LIMITED
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.
7
UNITED BANK LIMITED
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.
8
UNITED BANK LIMITED
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’.
9
UNITED BANK LIMITED
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
10
UNITED BANK LIMITED
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.
11
UNITED BANK LIMITED
 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
12
UNITED BANK LIMITED
* 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
13
UNITED BANK LIMITED
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:
% of Ordinary
Shareholders No. of Shares
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
21,324,307
c) Modarabas & Mutual Funds **
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
14
UNITED BANK LIMITED
* 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.
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
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”.
15
UNITED BANK LIMITED
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.
16
UNITED BANK LIMITED
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
17
UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2016
Note 2016 2015

--------------------- (Rupees in '000) ---------------------
ASSETS
Cash 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
Advances
Performing 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
LIABILITIES
Bills 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 Chairman
Chief Executive Officer
UNCONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2016
Note 2016 2015

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

Fee, 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 expenses

Administrative 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
----------- (Rupees) -----------
Earnings per share - basic and diluted 32 22.65 21.02
UNCONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2016
2016 2015
------- (Rupees in '000) -------
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
UNCONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2016
Note 2016 2015

------- (Rupees in '000) -------
CASH FLOW FROM OPERATING ACTIVITIES
Profit 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 ACTIVITIES

Net 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 ACTIVITIES

Dividends 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
UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2016
Capital reserve
Statutory Unappropriated
Share capital - Exchange Total
reserve profit
translation
---------------------------------------------------- (Rupees in '000) ----------------------------------------------------
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 declared

subsequent to the year end at Rs.4.0 per share - - - (4,896,719) (4,896,719)
Interim cash dividend - March 31, 2015 declared

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

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

at 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 declared

subsequent to the year end at Rs.4.0 per share - - - (4,896,719) (4,896,719)
Interim cash dividend - March 31, 2016 declared

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

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

at 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 46
to these unconsolidated financial statements.
NOTES TO AND FORMING PART OF THE UNCONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2016
1. STATUS AND NATURE OF BUSINESS
United Bank Limited (the Bank) is a banking company incorporated in Pakistan and is engaged in commercial banking and
related 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 Processing
Zones. The Bank also operates 18 (2015: 18) branches outside Pakistan as at December 31, 2016. The Bank is a
subsidiary of Bestway (Holdings) Limited which is incorporated in the United Kingdom.
The Bank's ordinary shares are listed on Pakistan Stock Exchange. Its Global Depository Receipts (GDRs) are on the list of
the UK Listing Authority and the London Stock Exchange Professional Securities Market. These GDRs are also eligible for
trading on the International Order Book System of the London Stock Exchange. Further, the GDRs constitute an offering in
the United States only to qualified institutional buyers in reliance on Rule 144A under the US Securities Act of 1933 and an
offering outside the United States in reliance on Regulation S.
2. BASIS OF PRESENTATION
2.1 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 modes
of financing include purchase of goods by banks from their customers and immediate resale to them at appropriate mark-up
in price on deferred payment basis. The purchases and sales arising under these arrangements are not reflected in these
unconsolidated financial statements as such, but are restricted to the amount of facility actually utilized and the appropriate
portion of mark-up thereon. The Islamic Banking branches of the Bank have complied with the requirements set out under
the Islamic Financial Accounting Standards issued by the Institute of Chartered Accountants of Pakistan (ICAP) and notified
under the provisions of the Companies Ordinance, 1984.
2.2 Key financial figures of the Islamic Banking branches are disclosed in note 44 to these unconsolidated financial statements.
3. STATEMENT OF COMPLIANCE
3.1 These unconsolidated financial statements have been prepared in accordance with approved accounting standards as
applicable in Pakistan, the requirements of the Companies Ordinance, 1984, the Banking Companies Ordinance, 1962 and
the directives issued by the Securities and Exchange Commission of Pakistan (SECP) and the SBP. Approved accounting
standards comprise of International Financial Reporting Standards (IFRS) and interpretations issued by the International
Accounting Standards Board and Islamic Financial Accounting Standards (IFAS) issued by the ICAP. Wherever the
requirements of the Companies Ordinance, 1984, the Banking Companies Ordinance, 1962 or the directives issued by the
SECP and the SBP differ with the requirements of IFRS or IFAS, the requirements of the Companies Ordinance, 1984, the
Banking Companies Ordinance, 1962 or the said directives prevail.
3.2 The SBP, vide BSD Circular letter No. 10, dated August 26, 2002 has deferred the applicability of International Accounting
Standard 39, Financial Instruments: Recognition and Measurement and International Accounting Standard 40, Investment
Property for banking companies till further instructions. Further, according to the notification of the SECP issued vide SRO
411(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 unconsolidated
financial statements. However, investments have been classified and valued in accordance with the requirements of various
circulars issued by the SBP. Further, segment information is being disclosed in accordance with SBP’s prescribed format as
per BSD circular 4 dated Feb 17, 2006 which prevails over the requirements specified in IFRS 8.
3.3 These unconsolidated financial statements represent the separate financial statements of the Bank. The consolidated
financial statements of the Bank and its subsidiaries are presented separately.
3.4 Standards, interpretations and amendments to approved accounting standards that are not yet effective
The following revised standards, amendments and interpretations with respect to the approved accounting standards would
be effective from the dates mentioned below against the respective standard or interpretation:
Effective date (annual periods

Standard, Interpretation or Amendment beginning on or after)
IFRS 2 - Share-based Payment - (Amendments) January 01, 2018

IFRS 12 - Disclosure of Interest in Other Entities - (Improvement) January 01, 2017
6
Effective date (annual periods

Standard, Interpretation or Amendment beginning on or after)
IAS 12 - Income Taxes - (Amendments) January 01, 2017

IAS 7 - Statement of cash flow - (Amendments) January 01, 2017
IAS 28 - Investments in associates and joint ventures - (Improvement) January 01, 2018
IFRIC 22- Foreign Currency Transactions and Advance Consideration January 01, 2018
The Bank expects that the adoption of above amendments and interpretations will not affect its financial statements in the
period of initial application.
The following new standards have been issued by the IASB, but have not yet been notified by the SECP for application in
Pakistan.
IASB Effective date (annual

Standard or Interpretation periods beginning on or after)
IFRS 9 - Financial Instruments: Classification and Measurement January 01, 2018

IFRS 15 - Revenue from contracts with customers January 01, 2018
4. BASIS OF MEASUREMENT
4.1 Accounting convention
These unconsolidated financial statements have been prepared under the historical cost convention except that certain
operating fixed assets and non-banking assets acquired in satisfaction of claims have been stated at revalued amounts and
certain investments and derivative financial instruments have been stated at fair value.
4.2 Critical accounting estimates and judgments
The preparation of these unconsolidated financial statements in conformity with approved accounting standards requires
management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and
income and expenses. It also requires management to exercise judgment in the application of its accounting policies. The
estimates and assumptions are based on historical experience and various other factors that are believed to be reasonable
under the circumstances. These estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period
of revision and future periods if the revision affects both current and future periods.
Significant accounting estimates and areas where judgments were made by management in the application of accounting
policies are as follows:
i) classification of investments (notes 5.3 and 9)
ii) provision against investments (notes 5.3 and 9.3), lendings to financial institutions (note 8.7) and advances (notes 5.4
and 10.3)
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)
7
5. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting policies adopted in the preparation of these unconsolidated financial statements are consistent with those of
the previous financial year, except for the following:
Non banking assets acquired in satisfaction of claims
Effective January 1, 2016, the Bank has changed its accounting policy for recording of non-banking assets acquired in
satisfaction 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 the
Regulations, the non-banking assets acquired in satisfaction of claims are carried at revalued amounts less
accumulated depreciation. These assets are revalued by professionally qualified valuers with sufficient regularity to
ensure that their net carrying value does not differ materially from their fair value. A surplus arising on revaluation of
property is credited to the 'surplus on revaluation of non-banking assets' account and any deficit arising on revaluation
is taken to profit and loss account directly. Legal fees, transfer costs and direct costs of acquiring title to property are
charged to profit and loss account and not capitalised. Previously, non-banking assets acquired in satisfaction of
claims 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 while
surplus on revaluation of assets and related deferred tax would have been lower by Rs 110.410 million and Rs 59.451
million respectively.
5.1 Cash and cash equivalents
Cash and cash equivalents for the purpose of the cash flow statement consist of cash and balances with treasury banks
and balances with other banks.
5.2 Lendings to / borrowings from financial institutions
The Bank enters into transactions of reverse repos and repos at contracted rates for a specified period of time. These are
recorded as under:
5.2.1 Purchase under resale agreements
Securities purchased under agreement to resell (reverse repo) are included in lendings to financial institutions. The
differential between the purchase price and the resale price is amortized over the period of the agreement and recorded as
income.
Securities held as collateral are not recognized in the unconsolidated financial statements, unless these are sold to third
parties, in which case the obligation to return them is recorded at fair value as a trading liability under borrowings from
financial institutions.
5.2.2 Sale under repurchase agreements
Securities sold subject to a repurchase agreement (repo) are retained in the unconsolidated financial statements as
investments and the counterparty liability is included in borrowings from financial institutions. The differential between the
sale price and the repurchase price is amortized over the period of the agreement and recorded as an expense.
5.2.3 Bai Muajjal
The securities sold under Bai Muajjal agreement are derecognised on the date of disposal. Receivable against such sale is
recognised at the agreed sale price. The difference between the sale price and the carrying value on the date of disposal is
taken to income on straightline basis.
5.3 Investments
Investments of the Bank, other than investments in subsidiaries and associates, are classified as held for trading, held to
maturity and available for sale.
Held for trading
These are securities which are either acquired for generating a profit from short-term fluctuations in market prices, interest
rate movements and dealer's margin, or are securities included in a portfolio in which a pattern of short term profit taking
exists.
Held to maturity
These are securities with fixed or determinable payments and fixed maturities, in respect of which the Bank has the positive
intent and ability to hold to maturity.
8
Available for sale
These are investments, other than those in subsidiaries and associates, that do not fall under the held for trading or held to
maturity categories.
Initial measurement
All “regular way” purchases and sales of investments are recognized on the trade date, i.e., the date that the Bank commits
to purchase or sell the investment. Regular way purchases or sales are purchases or sales of investments that require
delivery of investments within the time frame generally established by regulation or convention in the market place.
Investments are initially recognized at fair value which, in the case of investments other than held for trading, includes
transaction costs associated with the investments. Transaction costs on investments held for trading are expensed as
incurred.
Subsequent measurement
Held for trading
These are measured at subsequent reporting dates at fair value. Gains and losses on re-measurement are included in the
profit and loss account.
Held to maturity
These are measured at amortized cost using the effective interest rate method, less any impairment loss recognized to
reflect irrecoverable amounts.
Available for sale
Quoted securities classified as available for sale investments are measured at subsequent reporting dates at fair value. Any
surplus or deficit arising thereon is kept in a separate account shown in the statement of financial position below equity and
is taken to the profit and loss account when realized upon disposal or when the investment is considered to be impaired.
Unquoted equity securities are valued at the lower of cost and break-up value. The break-up value of these securities is
calculated 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, upto
the cost of the investment, is credited to the profit and loss account. Investments in other unquoted securities are valued at
cost less impairment, if any.
Provisions for diminution in the value of term finance certificates and Sukuks are made as per the ageing criteria prescribed
by the Prudential Regulations issued by the SBP. Provisions for diminution in the value of other securities are made for
impairment, if any.
Investments in Subsidiaries and Associates
Investments in subsidiaries and associates are valued at cost less impairment, if any. A reversal of an impairment loss on
subsidiaries and associates is recognized in the profit and loss account as it arises provided the increased carrying value
does not exceed cost.
Gains and losses on disposal of investments in subsidiaries and associates are included in the profit and loss account.
5.4 Advances
Advances are stated net of specific and general provisions which are charged to the profit and loss account. Specific
provisions against domestic advances and general provision against domestic loans to small enterprises and consumer
loans are determined on the basis of the Prudential Regulations and other directives issued by the SBP. General and
specific provisions pertaining to overseas advances are made in accordance with the requirements of the regulatory
authorities of the respective countries. If circumstances warrant, the Bank, from time to time, makes general provisions
against weaknesses in its portfolio on the basis of management's estimation.
9
Advances are written off when there is no realistic prospect of recovery. The amount so written off is a book entry and does
not necessarily prejudice the Bank's right of recovery against the customer.
The Bank determines write-offs in accordance with the criteria prescribed by the SBP vide BPRD Circular No. 06 dated
June 05, 2007.
5.4.1 Islamic financings and related assets
Receivables under Murabaha financing represent cost price plus an agreed mark-up on deferred sale arrangement. Markup
income is recognised on a straight line basis over the period of the instalments.
Ijarah financing represents arrangements whereby the Bank (being the owner of assets) transfers its usufruct to its
customers for an agreed period at an agreed consideration. Assets leased out under Ijarah are stated at cost less
accumulated depreciation and accumulated impairment losses, if any. These are depreciated over the term of the lease.
Ijarah income is recognized on an accrual basis.
Diminishing Musharaka is partnership agreement between the Bank and its customer for financing vehicle or plant and
machinery. The receivable is recorded to the extent of Bank's share in the purchase of asset. Income is recognised on
accrual basis
5.5 Operating fixed assets and depreciation
5.5.1 Tangible
Property and equipment, other than land (which is not depreciated) and capital work-in-progress, are stated at cost or
revalued amount less accumulated depreciation and accumulated impairment losses (if any). Land is carried at revalued
amount less impairment losses while capital work-in-progress is stated at cost less impairment losses. The cost and the
accumulated depreciation of property and equipment of foreign branches include exchange differences arising on currency
translation at the year-end rates of exchange.
Depreciation is calculated so as to write off the depreciable amount of the assets over their expected useful lives at the
rates specified in note 11.2 to these unconsolidated financial statements. The depreciation charge for the year is calculated
on a straight line basis after taking into account the residual value, if any. The residual values and useful lives are reviewed
and adjusted, if appropriate, at each statement of financial position date.
Depreciation on additions is charged from the month the asset is available for use. No depreciation is charged in the month
of disposal.
Land and buildings are revalued by professionally qualified valuers with sufficient regularity to ensure that their net carrying
value does not differ materially from their fair value. A surplus arising on revaluation is credited to the surplus on revaluation
of fixed assets account. Any deficit arising on subsequent revaluation of fixed assets is adjusted against the balance in the
above mentioned surplus account as allowed under the provisions of the Companies Ordinance, 1984. The surplus on
revaluation 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 on
revaluation 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 and
maintenance are charged to the profit and loss account as and when incurred.
5.5.2 Intangible assets
Intangible assets are stated at cost less accumulated amortization and accumulated impairment losses, if any. The cost and
the accumulated amortization of intangible assets of foreign branches include exchange differences arising on currency
translation at the year-end rates of exchange. Amortization is calculated so as to write off the amortizable amount of the
assets over their expected useful lives at the rates specified in note 11.3 to these unconsolidated financial statements. The
amortization charge for the year is calculated on a straight line basis after taking into account the residual value, if any. The
residual 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 month
of disposal.
Gains and losses on sale of intangible assets are included in the profit and loss account.
10
5.6 Impairment
Impairment of available for sale equity investments
Available for sale equity investments are impaired when there has been a significant or prolonged decline in their fair value
below their cost. The determination of what is significant or prolonged requires judgment. In making this judgment, the Bank
evaluates, among other factors, the normal volatility in share price.
Impairment of investments in subsidiaries and associates
The Bank considers that a decline in the recoverable value of the investment in a subsidiary or an associate below its cost
may be evidence of impairment. Recoverable value is calculated as the higher of fair value less costs to sell and value in
use. An impairment loss is recognized when the recoverable value falls below the carrying value and is charged to the profit
and loss account. A subsequent reversal of an impairment loss, upto the cost of the investment in the subsidiary or the
associate, is credited to the profit and loss account.
Impairment in non-financial assets (excluding deferred tax)
The carrying amounts of non-financial assets are reviewed at each reporting date for impairment whenever events or
changes in circumstances indicate that the carrying amounts of these assets may not be recoverable. If such indication
exists, and where the carrying value exceeds the estimated recoverable amount, assets are written down to their
recoverable amount. The resulting impairment loss is charged to the profit and loss account except for an impairment loss
on revalued assets, which is adjusted against the related revaluation surplus to the extent that the impairment loss does not
exceed the revaluation surplus.
5.7 Taxation
5.7.1 Current
Provision for current taxation is based on taxable income for the year determined in accordance with the prevailing laws and
at the prevailing rates for taxation on income earned by the Bank.
5.7.2 Prior years
The taxation charge for prior years represents adjustments to the tax charge relating to prior years, arising from
assessments / changes in laws and changes in estimates made during the current year.
5.7.3 Deferred
Deferred tax is recognized using the balance sheet method on all major temporary differences between the amounts
attributed to assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax
is calculated at the rates that are expected to apply to the period when the differences are expected to reverse, based on
tax rates that have been enacted or substantively enacted at the statement of financial position date.
Deferred tax assets are recognized only to the extent that it is probable that future taxable profits will be available against
which the assets can be utilized.
The carrying amount of deferred tax assets is reviewed at each statement of financial position date and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the deferred tax asset
to be utilized.
The Bank also recognizes deferred tax asset / liability on the deficit / surplus on revaluation of fixed assets / non-banking
assets acquired in satisfaction of claims and securities which is adjusted against the related deficit / surplus in accordance
with the requirements of IAS 12, Income Taxes.
5.8 Provisions
Provisions are recognized when the Bank has a legal or constructive obligation as a result of past events which makes it
probable that an outflow of resources will be required to settle the obligation and a reliable estimate of the amount can be
made.
11
Provision against identified non-funded losses is recognized when intimated and reasonable certainty exists that the Bank
will be required to settle the obligation. The provision is charged to the profit and loss account net of expected recovery and
the obligation is classified under other liabilities.
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) For new employees and for those who opted for the below mentioned conversion option introduced in 2001, the Bank
operates:
- 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).
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 also operates benevolent fund for all its eligible employees (defined benefit scheme).
Annual contributions towards defined benefit schemes are made on the basis of actuarial advice using the Projected Unit
Credit Method.
For the defined contribution scheme, the Bank pays contributions to the fund on a periodic basis. The Bank has no further
payment obligation once the contributions have been paid. The contributions are recognized as an expense when the
obligation to make payments to the fund has been established. Prepaid contributions are recognized as an asset to the
extent that a cash refund or a reduction in future payments is available.
5.9.2 Other benefits
a) Employees' compensated absences
The Bank makes provisions for compensated vested and non-vested absences accumulated by its eligible employees
on the basis of actuarial advice under the Projected Unit Credit Method.
b) Post retirement medical benefits (defined benefit scheme)
The Bank provides post retirement medical benefits to eligible retired employees. Provision is made on the basis of
actuarial advice under the Projected Unit Credit Method.
c) Employee motivation and retention scheme
The Bank has a long term motivation and retention scheme for its employees. The liability of the Bank in respect of the
scheme for each year, if any, is fixed, and is accounted for in the year to which the scheme relates.
5.9.3 Remeasurement of defined benefit obligations
Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are
recognized in other comprehensive income when they occur with no subsequent recycling through the profit and loss
account.
12
Remeasurement gains and losses pertaining to long term compensated absences are recognized in the profit and loss
account immediately.
5.10 Subordinated loans
Subordinated loans are initially recorded at the amount of proceeds received. Mark-up accrued on subordinated loans is
recognised separately as part of other liabilities and is charged to the profit and loss account over the period on an accrual
basis.
5.11 Borrowings / deposits
a) Borrowings / deposits are recorded at the amount of proceeds received.
b) The cost of borrowings / deposits is recognized on an accrual basis as an expense in the period in which it is incurred.
5.12 Revenue recognition
Revenue is recognized to the extent that the economic benefits associated with a transaction will flow to the Bank and the
revenue can be reliably measured. The following recognition criteria must be met before revenue is recognized.
5.12.1 Advances and investments
Mark-up / return / interest on performing advances and investments is recognized on a time proportionate basis over the
term of the advances and investments that takes into account the effective yield of the asset. Where debt securities are
purchased at a premium or discount, such premium / discount is amortized through the profit and loss account over the
remaining period of maturity of the debt securities.
Interest or mark-up recoverable on non-performing or classified advances and investments is recognized on a receipt basis.
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
Fee, brokerage and commission income is recognized on an accrual basis.
5.12.4 Grants
Grants received are recorded as income when the right to receive the grant, based on the related expenditure having been
incurred, has been established.
5.13 Foreign currencies
5.13.1 Functional and presentation currency
Items included in these unconsolidated financial statements are measured using the currency of the primary economic
environment in which the Bank operates. These unconsolidated financial statements are presented in Pakistani Rupees,
which is the Bank's functional and presentation currency.
5.13.2 Foreign currency transactions
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 the
statement of financial position date. Forward foreign exchange contracts and foreign bills purchased are valued in rupees at
the forward foreign exchange rates applicable to their respective maturities.
13
Non-monetary assets and liabilities in foreign currencies are expressed in rupee terms at the rates of exchange prevailing at
the date of initial recognition of the non-monetary assets / liabilities.
5.13.3 Foreign operations
The assets and liabilities of foreign operations are translated to rupees at exchange rates prevailing at the statement of
financial position date. The results of foreign operations are translated at the average rates of exchange for the year.
5.13.4 Translation gains and losses
Translation gains and losses are taken to the profit and loss account, except those arising on translation of the net
investment in foreign branches which are taken to capital reserves (Exchange Translation Reserve) until the disposal of the
net investment, at which time these are recognised in the profit and loss account.
5.13.5 Contingencies and commitments
Commitments for outstanding forward foreign exchange contracts are disclosed in these unconsolidated financial
statements at contracted rates. Contingent liabilities / commitments denominated in foreign currencies are expressed in
rupee terms at the rates of exchange prevailing at the statement of financial position date.
5.14 Financial instruments
5.14.1 Financial assets and liabilities
Financial assets and liabilities carried on the statement of financial position include cash and bank balances, lendings to
financial institutions, investments, advances, certain receivables, bills payable, borrowings from financial institutions,
deposits, subordinated loans and certain payables. The particular recognition methods adopted for significant financial
assets and financial liabilities are disclosed in the individual policy notes associated with them.
5.14.2 Derivative financial instruments
Derivative financial instruments are initially recognized at fair value on the date on which the derivative contract is entered
into and are subsequently re-measured at fair value using appropriate valuation techniques. All derivative financial
instruments are carried as assets when their fair value is positive and liabilities when their fair value is negative. Any change
in the fair value of derivative financial instruments during the period is taken to the profit and loss account.
5.14.3 Hedge accounting
The Bank makes use of derivative instruments to manage exposures to interest rate, foreign currency and credit risks. In
order to manage particular risks, the Bank may undertake a hedge. The Bank applies hedge accounting for transactions
which meet the specified criteria.
At the inception of the hedging relationship, the Bank formally documents the relationship between the hedged item and the
hedging instrument, including the nature of the risk, the objective and strategy for undertaking the hedge and the method
that will be used to assess the effectiveness of the hedging relationship. A formal assessment is also undertaken to
ascertain whether the hedging instrument is expected to be highly effective in offsetting the designated risk in the hedged
item. A hedge is regarded as highly effective if, during the period for which the hedge is designated, changes in the fair
value or cash flows attributable to the hedged item are expected to be offset by between 80% to 125% by corresponding
changes in the fair value or cash flows attributable to the hedging instrument.
Cash flow hedges
For qualifying cash flow hedges, the fair value gain or loss associated with the effective portion of the cash flow hedge is
recognised initially in the statement of changes in equity, and recycled through the profit and loss account in the periods
when the hedged item will affect profit or loss. Any gain or loss on the ineffective portion of the hedging instrument is
recognised in the profit and loss account immediately.
When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any
cumulative gain or loss existing in equity at that time remains in equity and is recognised when the hedged item is ultimately
recognised in the profit and loss account.
14
5.14.4 Off setting
Financial assets and financial liabilities are set off and the net amount is reported in the unconsolidated financial statements
when there is a legally enforceable right to set off and the Bank intends to either settle on a net basis, or to realize the
assets and to settle the liabilities simultaneously.
5.15 Segment reporting
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.
5.15.1 Business segments
(a) Corporate finance
Corporate finance includes services provided in connection with mergers and acquisitions, project finance and the
underwriting / arrangement of debt and equity instruments through syndications, Initial Public Offerings and private
placements.
(b) Trading and sales
Trading and sales includes fixed income, equity, foreign exchange, credit, funding, own position securities, lendings
and borrowings and derivatives for hedging and market making.
(c) Retail banking
Retail banking includes retail and consumer lending and deposits, banking services, cards and branchless banking.
(d) Commercial banking
Commercial banking includes project finance, working capital finance, trade finance, import and export, factoring,
leasing, lending, deposits and guarantees.
(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
Dividends and appropriations to reserves are recorded in the year in which these are approved, except appropriations
required by law which are recorded in the period to which they pertain.
5.17 Earnings per share
The Bank presents basic and diluted earnings per share (EPS). Basic EPS is calculated by dividing the profit or loss
attributable to ordinary shareholders of the Bank by the weighted average number of ordinary shares outstanding during the
year.
15
Note 2016 2015

6. CASH AND BALANCES WITH TREASURY BANKS ------- (Rupees in '000) -------
In hand
Local currency 13,072,593 8,776,285
Foreign currency 4,896,410 4,113,207
17,969,003 12,889,492
With State Bank of Pakistan in
Local currency current accounts 6.1 33,315,897 24,910,033
Foreign currency current accounts 6.2 2,307,913 2,380,015
Foreign currency deposit account 6.3 6,841,899 6,945,540
42,465,709 34,235,588
With 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 34,061,633
With National Bank of Pakistan in local currency current accounts 37,422,940 30,641,342
National Prize Bonds 100,388 183,221
131,506,861 112,011,276
6.1 This represents current accounts maintained with the SBP under the Cash Reserve Requirement of section 22 of the
Banking Companies Ordinance, 1962.
6.2 This represents a US Dollar settlement account maintained with the SBP and current accounts maintained with the SBP to
comply with statutory requirements.
6.3 This represents account maintained with the SBP to comply with the Special Cash Reserve requirement. The return on this
account 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.
6.4 Deposits with other central banks are maintained to meet the minimum cash reserves and capital requirements pertaining
to the foreign branches of the Bank.
6.5 This represents placement with overseas central banks and carries mark-up at the rate of 0.75% (2015: 0.50%) per
annum.
Note 2016 2015

------- (Rupees in '000) -------
7. BALANCES WITH OTHER BANKS
Inside Pakistan
In current accounts - 14,889
In deposit accounts 7.1 2,825,007 2,930,007
2,825,007 2,944,896
Outside Pakistan
In 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 These carry mark-up at rates ranging from 5.80% to 5.95% (2015: 6.00% to 6.30%) per annum.
7.2 These carry mark-up at rates ranging from 0.10% to 1.84% (2015: 0.10% to 1.90%) per annum and include balances
amounting to Rs. 1,004.146 million (2015: Rs. 225.193 million), maintained with an overseas bank against the statutory
reserves requirement of a foreign branch.
16
Note 2016 2015

8. LENDINGS TO FINANCIAL INSTITUTIONS ------- (Rupees in '000) -------
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 This represents unsecured lending carrying mark-up at a rate 5.25% per annum (2015: 4.50% to 5.80%per annum) and is
due to mature by January 2017.
8.3 Securities held as collateral against repurchase agreement lendings
2016 2015
Held by Bank Further given Total Held by Bank Further given as Total
as collateral / collateral / sold
sold
----------------------------------------------- (Rupees in '000) -----------------------------------------------
Market Treasury Bills - - - 976,841 - # 976,841
8.4 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.
8.5 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 carry
mark-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 latest
by July 2021.
8.6 This includes an unsecured subordinated loan amounting to Rs. 257.916 million (2015: Rs. 311.468 million) to United
National Bank Limited (UBL UK), a subsidiary, and is due to mature by October 2018. The loan carries mark-up at a rate of
six months LIBOR + 2% per annum payable semi-annually, with principal to be paid at maturity. The right of the Bank is
subordinated as to the receipt of principal and mark-up to all other indebtedness of United Bank UK (including deposits).
8.7 This represents provision made against lendings to financial institutions with movement as follows:
2016 2015
------- (Rupees in '000) -------
Opening balance 822,485 795,242

Exchange adjustments (922) 27,243
Reversals for the year (15,500) -
Closing balance 806,063 822,485
17
9. INVESTMENTS 2016 2015

Note Held by Given as Total Held by Given as Total
9.1 Investments by type Bank collateral Bank collateral
-------------------------------------------------- (Rupees in '000) --------------------------------------------------
Held for trading securities
Market Treasury Bills 8,120,078 - 8,120,078 9,757,289 - 9,757,289
Pakistan Investment Bonds 154,805 - 154,805 2,095,573 - 2,095,573
Ordinary shares of listed companies - - - 19,234 - 19,234
8,274,883 - 8,274,883 11,872,096 - 11,872,096
Available for sale securities
Market Treasury Bills 25,117,903 47,933,801 73,051,704 54,047,186 894,235 54,941,421
Pakistan Investment Bonds 184,088,469 96,854,633 280,943,102 153,364,754 111,285,139 264,649,893
Government of Pakistan Sukuk 7,233,271 - 7,233,271 9,909,514 - 9,909,514
Government of Pakistan Eurobonds 14,053,787 - 14,053,787 14,114,386 - 14,114,386
Ordinary shares of listed companies 16,007,107 - 16,007,107 19,310,549 - 19,310,549
Preference shares 372,636 - 372,636 434,765 - 434,765
Ordinary shares of unlisted companies 243,084 - 243,084 243,087 - 243,087
Investment in REIT 458,590 - 458,590 458,590 - 458,590
Term Finance Certificates 556,284 - 556,284 1,371,162 - 1,371,162
Foreign bonds - sovereign 19,250,876 - 19,250,876 17,232,964 - 17,232,964
Foreign bonds - others 9,500,569 - 9,500,569 10,782,176 - 10,782,176
276,882,576 144,788,434 421,671,010 281,269,133 112,179,374 393,448,507
Held to maturity securities
Market Treasury Bills 26,968,740 - 26,968,740 33,700,017 - 33,700,017
Pakistan Investment Bonds 289,522,875 - 289,522,875 220,168,425 - 220,168,425
Government of Pakistan Eurobonds 6,897,076 - 6,897,076 7,670,645 - 7,670,645
Government of Pakistan Sukuk 683,000 - 683,000 - - -
Other Federal Government Securities - - - 5,391,120 - 5,391,120
Term Finance Certificates 4,715,333 - 4,715,333 5,402,573 - 5,402,573
Sukuks 9,024,950 - 9,024,950 4,234,531 - 4,234,531
Participation Term Certificates 2,795 - 2,795 2,795 - 2,795
Debentures 2,266 - 2,266 2,266 - 2,266
Foreign bonds - sovereign 6,608,534 - 6,608,534 1,809,871 - 1,809,871
Foreign bonds - others 357,609 - 357,609 227,179 - 227,179
Recovery note 322,399 - 322,399 322,839 - 322,839
CDC SAARC Fund 228 - 228 228 - 228
345,105,805 - 345,105,805 278,932,489 - 278,932,489
Associates
United Growth and Income Fund 419,308 - 419,308 419,308 - 419,308
UBL Liquidity Plus Fund 10,079 - 10,079 10,079 - 10,079
UBL Money Market Fund 9,850 - 9,850 9,850 - 9,850
UBL Retirement Savings Fund 30,000 - 30,000 120,000 - 120,000
UBL Principal Protected Fund - III - - - 200,000 - 200,000
UBL Government Securities Fund 2,699,175 - 2,699,175 2,699,175 - 2,699,175
UBL Gold Fund 100,000 - 100,000 100,000 - 100,000
UBL Asset Allocation Fund 680,000 - 680,000 500,000 - 500,000
Al Ameen Islamic Cash Fund 10,470 - 10,470 1,010,470 - 1,010,470
Al Ameen Islamic Aggressive Income Fund 25,944 - 25,944 25,944 - 25,944
Al Ameen Islamic Sovereign Fund 50,000 - 50,000 50,000 - 50,000
Al Ameen Islamic Retirement Savings Fund - - - 90,000 - 90,000
Al Ameen Islamic Principal Preservation Fund – III - - - 100,000 - 100,000
Al Ameen Islamic Principal Preservation Fund – IV - - - 100,000 - 100,000
Al Ameen Islamic Principal Preservation Fund – V - - - 100,000 - 100,000
Al Ameen Islamic Asset Allocation Fund 100,000 - 100,000 100,000 - 100,000
Al Ameen Islamic Financial Planning Fund 504,690 - 504,690 200,000 - 200,000
UBL Insurers Limited 240,000 - 240,000 240,000 - 240,000
Khushhali Bank Limited 832,485 - 832,485 832,485 - 832,485
Oman United Exchange Company, Muscat 6,981 - 6,981 6,981 - 6,981
DHA Cogen Limited 9.7 - - - - - -
5,718,982 - 5,718,982 6,914,292 - 6,914,292
Subsidiaries
United National Bank Limited (UBL UK) 2,855,223 - 2,855,223 2,855,223 - 2,855,223
UBL (Switzerland) AG 589,837 - 589,837 589,837 - 589,837
UBL Fund Managers Limited 100,000 - 100,000 100,000 - 100,000
UBL Bank (Tanzania) Limited 1,322,014 - 1,322,014 1,322,014 - 1,322,014
United Executors and Trustees Company Ltd. 30,100 - 30,100 30,100 - 30,100
4,897,174 - 4,897,174 4,897,174 - 4,897,174
640,879,420 144,788,434 785,667,854 583,885,184 112,179,374 696,064,558
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 638,451,212 144,788,434 783,239,646 581,752,492 112,179,374 693,931,866

Surplus 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
18
Note 2016 2015

------- (Rupees in '000) -------
9.2 Investments by segment
Federal Government Securities

Market 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 Securities
Market 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 shares
Listed 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

(Deficit) / surplus on revaluation of held for trading securities 9.4 (2,184) 9,202
Total investments 806,531,246 719,518,093
19
2016 2015
------- (Rupees in '000) -------
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

Ordinary 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
1,789,346 1,395,703
Sukuks 42,650 130,563
Foreign bonds 226,867 227,176
638,862 736,989
2,428,208 2,132,692
9.3.3 Provision for diminution in value of investments by segment
Equity securities
Listed companies 1,218,667 817,446
Unlisted companies 137,129 137,129
1,691,730 1,298,087
Debt securities
Sukuks 42,650 130,563
Foreign bonds 226,867 227,176
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
20
9.5 Investments include securities which are held by the Bank to comply with the statutory liquidity requirements as set out
under Section 29 of the Banking Companies Ordinance, 1962.
9.6 Investments include Rs. 282.000 million (2015: Rs. 282.000 million) held by the SBP and National Bank of Pakistan as
pledge against demand loan, TT / DD discounting facilities and foreign exchange exposure limit sanctioned to the Bank and
Rs. 5.000 million (2015: Rs. 5.000 million) held by the Controller of Military Accounts (CMA) under Regimental Fund
Arrangements.
9.7 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 Limited
without any consideration having been paid. Consequently, DHA Cogen Limited is classified as an associated company.
9.8 Information relating to investments required to be disclosed as part of the financial statements under the SBP's BSD
Circular No. 4 dated February 17, 2006, and details in respect of the quality of available for sale securities are disclosed in
Annexure 'A' which forms an integral part of these unconsolidated financial statements.
10. ADVANCES
Note Performing Non-performing Total
2016 2015 2016 2015 2016 2015
---------------------------------------------- (Rupees in '000) --------------------------------------------------------
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
Performing Non-performing Total

2016 2015 2016 2015 2016 2015
---------------------------------------------- (Rupees in '000) --------------------------------------------------------
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
21
10.2 Advances include Rs. 44,566.984 million (2015: Rs. 46,833.232 million) which have been placed under non-performing
status as detailed below:
2016
Category of Classified advances Provision required Provision held
classification Domestic Overseas Total Domestic Overseas Total Domestic Overseas Total
------------------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------------------
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 -
2015
Category of Classified advances Provision required Provision held
classification Domestic Overseas Total Domestic Overseas Total Domestic Overseas Total
------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------
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

2016 2015
Note Specific General Total Specific General Total
------------------------------------------------ (Rupees in '000) ------------------------------------------------
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 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 General provision represents provision amounting to Rs. 218.074 million (2015: Rs. 239.461 million) against consumer
finance portfolio and Rs. 39.088 million (2015: Rs. 37.942 million) against advances to small enterprises as required by the
Prudential Regulations issued by the SBP and Rs. 2,382.615 million (2015: Rs. 2,531.266 million) pertaining to overseas
advances to meet the requirements of the regulatory authorities of the respective countries in which the overseas branches
operate. General provision also includes Rs. 488.997 million (2015: Rs 541.664 million) which is based on management
estimates and regulatory instructions. Further, the Bank carried provision of nil (2015: Rs. 731.663 million) as a matter of
prudence given the prevailing economic environment.
10.3.2 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 by
the 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.
10.3.3 This includes provision reversals amounting to Rs. 444.034 million (2015: Rs. 216.777 million) as a result of settlement
through debt asset swap arrangements with various customers.
10.3.4 Particulars of provision against advances

2016 2015
Specific General Total Specific General Total
------------------------------------------------ (Rupees in '000) ------------------------------------------------
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
22
Note 2016 2015

------- (Rupees in '000) -------
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
In terms of sub-section (3) of Section 33A of the Banking Companies Ordinance, 1962, the statement in respect of written
off loans or any other financial relief of five hundred thousand rupees or above allowed to a person during the year ended
December 31, 2016 is given in Annexure 'B' to the unconsolidated financial statements. This includes amounts charged off
without prejudice to the Bank's right to recovery.
Note 2016 2015

------- (Rupees in '000) -------
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
23
11.2 Property and equipment
2016
Cost / Revaluation Accumulated Depreciation
Annual
Charge for the Net book value
Exchange / Exchange / rate of
Additions / At December At January 1, year / At December at December 31,
At January 1, 2016 Other Other deprec-
(deletions) 31, 2016 2016 (depreciation 31, 2016 2016
adjustments adjustments iation %
on deletions)
---------------------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------------------

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)
2015
Cost / Revaluation Accumulated Depreciation
Annual
Charge for the Net book value
Exchange / Exchange / rate of
Additions / At December At January 1, year / At December at December 31,
At January 1, 2015 Other Other deprec-
(deletions) 31, 2015 2015 (depreciation 31, 2015 2015
adjustments adjustments iation %
on deletions)
---------------------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------------------
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)
24
11.3 Intangible assets
2016
Cost Accumulated Amortization
Charge for Net book value

Exchange / At Exchange / Annual rate of
At January Additions / At January the year / At December at December 31,
other December other amortisation %
1, 2016 (deletions) 1, 2016 (reversal on 31, 2016 2016
adjustments 31, 2016 adjustments
deletion)
---------------------------------------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------------------------------------
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)
2015
Cost Accumulated Amortization
Charge for Net book value

Exchange / Exchange / Annual rate of
At January Additions / At December At January the year / At December at December 31,
other other amortisation %
1, 2015 (deletions) 31, 2015 1, 2015 (reversal on 31, 2015 2015
adjustments adjustments
deletion)
---------------------------------------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------------------------------------
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
The properties of the Bank were last revalued by independent professional valuers as at December 31, 2014. The
revaluation 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 of
professional assessment of present market values and resulted in an increase in surplus by Rs. 5,146.820 million. The
total surplus arising against revaluation of fixed assets as at December 31, 2016 amounts to Rs. 20,116.356 million. Had
there been no revaluation, the carrying amount of the revalued assets at December 31 would have been as follows:
2016 2015
------- (Rupees in '000) -------
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 information relating to operating fixed assets disposed off during the year is given in Annexure 'C' and is an integral
part of these unconsolidated financial statements.
25
Note 2016 2015

------- (Rupees in '000) -------
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 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 by
the Commissioner of Inland Revenue.
The income tax authorities have issued amended assessment orders for the tax years 2003 to 2016, and created additional
tax 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 these
amendments. Where the appellate authorities have allowed relief on certain issues, the assessing authorities have filed
appeals before higher appellate forums. Where the appellate authorities have not allowed relief the Bank has filed appeals
before higher appellate forums. The management of the Bank is confident that the appeals will be decided in favor of the
Bank.
Under the Seventh Schedule to the Ordinance, banks are allowed to claim provisions against advances up to 5% of total
advances 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 the
provisions of section 120(1) read with section 114 of the Ordinance and in compliance with the terms of the agreement
between banks and the Azad Kashmir Council in May 2005. The returns filed are considered as deemed assessment
orders under the law.
The tax authorities have also carried out monitoring for Federal Excise Duty, Sales tax and withholding taxes covering
period from year ended 2007 to 2014. Consequently various addbacks and demands were raised creating a total demand
of Rs. 1,245 million. The Bank has filed appeals against all such demands and is confident that these would be decided in
the favor of the Bank.
The tax returns for overseas branches have been filed upto the year ended December 31, 2015 under the provisions of the
laws prevailing in the respective countries, and are deemed as assessed unless opened for reassessment.
26
Note 2016 2015

12.2 Provision against other assets ------- (Rupees in '000) -------
Opening balance 4,825,077 4,469,635

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
Secured
Borrowings 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
27
15.3 The Bank has entered into an agreement with the SBP for extending export finance to customers. As per the terms of the
agreement, the Bank has granted the SBP the right to recover the outstanding amounts from the Bank at the date of
maturity of the finances by directly debiting the Bank's current account maintained with the SBP. These borrowings are
repayable within six months, latest by June 2017 . These carry mark-up at a rate of 3.0% per annum (2015: 3.50% per
annum).
15.4 These borrowings have been obtained from the SBP under a scheme to finance modernization of Small and Medium
Enterprises 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 a
maximum capacity of 500 KVA. These borrowings are repayable within a period ranging from 3 years to 10 years, latest by
October 2019 and carry mark-up at a rate of 6.25% per annum (2015: 6.25% per annum).
15.5 These borrowings have been obtained from the SBP for providing financing facilities to exporters for adoption of new
technologies and modernization of their plant and machinery. These borrowings are repayable within a period ranging from
3 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).
15.6 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.
15.7 These repurchase agreement borrowings are secured against Pakistan Investment Bonds and Treasury Bills and carry
mark-up at rates ranging from 5.50% to 5.90% per annum (2015: 6.00% to 6.50% per annum). These borrowings are
repayable latest by January 2017. The carrying value of securities given as collateral against these borrowings is given in
note 9.1.
15.8 These are unsecured borrowings carrying mark-up at rates ranging from 0.25% to 5.85% per annum (2015: 0.47% to
6.25% per annum), and are repayable latest by April 2017.
15.9 These borrowings carry mark-up at rates ranging from 2.00% to 4.74% per annum (2015: 0.47% to 4.55% per annum), and
are repayable latest by September 2017.
2016 2015
16. DEPOSITS AND OTHER ACCOUNTS ------- (Rupees in '000) -------
Customers
Fixed 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 Institutions
Remunerative 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
28
Note 2016 2015

------- (Rupees in '000) -------
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
At January 1, Recognised Others At December
2016 in profit and 31, 2016
loss account
------------------------------ (Rupees in '000) ------------------------------
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
At January 1, Recognised Others At December
2015 in profit and 31, 2015
loss account
------------------------------ (Rupees in '000) ------------------------------
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)
29
Note 2016 2015

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

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
Note Contract / notional amount Unrealized gain / (loss)

2016 2015 2016 2015
-------------------------- (Rupees in '000) --------------------------
- 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
30
Note 2016 2015

------- (Rupees in '000) -------
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
(Number of shares)
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
(Number of shares)
Fully paid-up ordinary shares of Rs.10 each
518,000,000 518,000,000 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 In 2007, the Bank was admitted to the official list of the UK Listing Authority and to the London Stock Exchange
Professional Securities Market for trading of Global Depository Receipts (GDRs), each representing four ordinary shares
issued by the Bank. The GDRs constitute an offering in the United States only to qualified institutional buyers in reliance on
Rule 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 rank
pari passu with other equity shareholders in respect of such entitlement. However, the holders of GDRs have no voting
rights or other direct rights of shareholders with respect to the ordinary shares underlying such GDRs. Subject to the terms
and restrictions set out in the offering circular dated June 25, 2007, the deposited ordinary shares in respect of which the
GDRs were issued may be withdrawn by the GDR holders from the depository facility. Upon withdrawal, the holders will
rank 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.
19.4 Major shareholders (holding more than 5% of total paid-up capital)
2016 2015
Number of Percentage of Number of Percentage of
Name 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%
As at December 31, 2016, Bestway Group (Bestway) held 61.46% (2015: 61.46%) shareholding (including GDRs) of the
Bank.
2016 2015
19.5 Shares of the Bank held by its associates ------- (Number of shares) -------
UBL Asset Allocation Fund 114,200 115,000

UBL Stock Advantage Fund 1,153,000 490,300
1,267,200 605,300
31
Note 2016 2015

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

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
32
2016 2015
21.3 Trade-related contingent liabilities ------- (Rupees in '000) -------
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
These mainly represent counter claims filed by the borrowers for restricting the Bank from disposal of assets (such as
mortgaged / pledged assets kept as security).
Based on legal advice and / or internal assessments, management is confident that the matters will be decided in the
Bank's favour and the possibility of any outcome against the Bank is remote and accordingly no provision has been made
in these financial statements.
21.4.2 During the period penalties amounting to Rs. 4.058 billion have been levied by the FE Adjudication Court of the State Bank
of Pakistan relating to alleged contraventions of the requirements of foreign exchange regulations with respect to issuance
and certification of E-Forms by the Bank to certain customers (Exporters) who failed to submit the export documents
theregainst, consequently Foreign Exchange on account of Export Proceeds have not been repatriated. The Bank
maintains that it fully discharged its liability, in accordance with the law and has filed a civil suit in the High Court of Sindh
challenging the levy of the penalty. The High Court has granted a stay on action being taken against the Bank. The
management, based on the advice from legal counsel, is confident that the view of the Bank will prevail and the Bank will
not be exposed to any loss on this account.
21.4.3 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 counter
SBLCs of a foreign bank. In March 2015, counter party to performance agreement notified MOM of suspension of SBLCs
because of force majeure. In September 2015, MOM filed a law suit against UBL at the Preliminary Commercial Court in
Sana’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 schedule
however 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, management
is of the view that it is unlikely that there will be any financial impact on the Bank.
21.5 Commitments to extend credit
The Bank makes commitments to extend credit in the normal course of its business but these being revocable
commitments do not attract any significant penalty or expense if the facility is unilaterally withdrawn.
2016 2015
21.6 Commitments in respect of forward foreign exchange contracts ------- (Rupees in '000) -------
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
33
22. DERIVATIVE INSTRUMENTS
Derivatives are a type of financial contract, the value of which is determined by reference to one or more underlying assets
or indices. The major categories of such contracts include forwards, futures, swaps and options. Derivatives also include
structured 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 offers
a wide variety of derivatives products covering both hedging and market making to satisfy customers’ needs. Where
required, 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.
With regard to derivatives, the RMC is authorized to:
- Review the derivatives business with reference to market risk exposure and assign various limits in accordance with
the risk appetite of the Bank.
- 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.
Overall responsibility for derivatives trading activity lies with the Treasury and Capital Markets Group. Measurement and
monitoring of market and credit risk exposure and limits and its reporting to senior management and the BoD is done by
Treasury 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 risk management
There are a number of risks undertaken by the Bank, which need to be monitored and assessed.
Credit risk
Credit risk refers to the risk of non-performance or default by a party to a derivatives transaction, resulting in an adverse
impact on the Bank’s profitability. Credit risk associated with derivatives transactions is categorized into settlement risk and
pre-settlement risk. Credit proposals for derivatives transactions are approved by the Credit Committee. The credit
exposure of each counterparty is estimated and monitored against approved counterparty limits by TMO on a daily basis.
Market risk
The Bank, as a policy, hedges back-to-back all Options transactions. In addition, the Bank does not carry any exchange
risk on its Cross Currency Swaps portfolio as it hedges the exposure in the interbank market. To manage the interest rate
risk of Interest Rate Derivatives, the Bank has implemented various limits which are monitored and reported by TMO on a
daily basis.
Liquidity risk
Derivatives transactions, usually being non-funded in nature, do not carry a specific funding liquidity risk.
The liquidity risk arises from the fact that in Pakistan, interest rate derivatives generally have a uni-directional demand, and
no perfect hedge is available. The Bank mitigates its risk by limiting the portfolio in terms of tenor, notional and sensitivity
limits, and can also hedge its risk by taking on and off balance sheet positions in the interbank market, where available.
34
Operational risk
The staff involved in the trading, settlement and risk management of derivatives is carefully trained to deal with the
complexities involved in the process. Adequate systems and controls are in place to carry out derivatives transactions
smoothly. Each transaction is processed in accordance with the product program or a transaction memo, which contains
detailed guidance on the accounting and operational aspects of the transaction to further mitigate operational risk. In
addition, TMO and the Compliance and Control Department are assigned the responsibility of monitoring any deviation
from policies and procedures. The Bank’s Audit and Inspection Group also reviews this function, with a regular review of
systems, 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, supports
the 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 provide
details of the derivatives business profile such as outstanding positions, profitability, risk exposures and the status of
compliance with limits.
22.1 Product analysis

2016
Forward purchase Forward sale contracts
Interest rate swaps Cross currency swaps FX options contracts of of government
Total
government securities securities
Notional
Number of Notional Number of Notional Number of Notional Number of Notional Number of Notional
contracts principal contracts principal contracts principal contracts principal contracts principal
(Rupees in (Rupees in (Rupees in (Rupees in (Rupees in (Rupees in
'000) '000) '000) '000) '000) '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
2015
Forward purchase Forward sale contracts
Interest rate swaps Cross currency swaps FX options contracts of of government
Total
government securities securities
Notional
Number of Notional Number of Notional Number of Notional Number of Notional Number of Notional
contracts principal contracts principal contracts principal contracts principal contracts principal
(Rupees in (Rupees in (Rupees in (Rupees in (Rupees in (Rupees in
'000) '000) '000) '000) '000) '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
35
22.2 Maturity analysis of derivatives
2016
Remaining maturity No. of Notional Unrealized
contracts principal (Loss) Gain Net
------------------------------------- (Rupees in '000) ----------------------------------
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
2015
Remaining maturity No. of Notional Unrealized
contracts principal (Loss) Gain Net
------------------------------------- (Rupees in '000) ----------------------------------
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 2015
23. MARK-UP / RETURN / INTEREST EARNED ------- (Rupees in '000) -------
On loans and advances to customers 30,394,552 33,802,408
On lendings to financial institutions

Call 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 in
Held 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
36
Note 2016 2015

25. GAIN ON SALE OF SECURITIES - NET ------- (Rupees in '000) -------
Federal government securities

Market Treasury Bills 11,461 217,680
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
37
27.1 This includes accrual of employee benefits in the form of awards / bonus to all permanent staff including the Chief
Executive 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).
27.2 Auditors' remuneration 2016

KPMG Taseer A. F. Ferguson Overseas Total
Hadi & Co. & Co. Auditors
--------------------------------- (Rupees in '000) ---------------------------------
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
2015
KPMG Taseer A. F. Ferguson Overseas Total
Hadi & Co. & Co. Auditors
------------------------------------------- (Rupees in '000) -------------------------------------------
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 2015
27.3 Details of donations ------- (Rupees in '000) -------
Donations individually exceeding Rs.0.1 million

Namal 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 Donations were not made to any donee in which a Director or his spouse had any interest.
38
Note 2016 2015

28. OTHER PROVISIONS - NET ------- (Rupees in '000) -------
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
Under the Workers' Welfare Ordinance, 1971, the Bank has accrued Workers' Welfare Fund at 2% of profit before tax as
per 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 the
amendments 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 not
currently be treated as conclusive. Accordingly, the Bank maintains its provision in respect of WWF.
2016 2015
------- (Rupees in '000) -------
30. OTHER CHARGES
Penalties imposed by the SBP 69,082 200,989

Other penalties 731 1,114
69,813 202,103
31. TAXATION 2016

Domestic Azad Kashmir Overseas Total
-------------------------------- (Rupees in '000) ------------------------------
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
2015
Domestic Azad Kashmir Overseas Total
-------------------------------- (Rupees in '000) ------------------------------
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
------- (Rupees in '000) -------
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
39
2016 2015
32. EARNINGS PER SHARE ------- (Rupees in '000) -------
Profit after taxation for the year 27,730,112 25,727,149
------- (Number of shares) -------

Weighted average number of ordinary shares 1,224,179,687 1,224,179,687
---------- (Rupees) ----------

Earnings per share - basic and diluted 22.65 21.02
32.1 Diluted earnings per share has not been presented separately as the Bank does not have any convertible instruments in
issue at December 31, 2016 or 2015.
Note 2016 2015

33. CASH AND CASH EQUIVALENTS ------- (Rupees in '000) -------
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 ------------ (Number) ------------

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

The Bank operates a funded pension scheme established in 1986. The Bank also operates a funded gratuity scheme for
new employees and for those employees who have not opted for the pension scheme. The Bank also operates a
benevolent fund scheme and provides post retirement medical benefits to eligible retired employees. The benevolent fund
scheme 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 carried
out using the Projected Unit Credit Method. Actuarial valuations of the defined benefit schemes are carried out every year
and the latest valuation was carried out as at December 31, 2016.
35.2 Number of Employees under the scheme

The number of employees covered under the following defined benefit schemes are:
2016 2015
------------ (Number) ------------
- 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
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.
35.3 Principal actuarial assumptions

The actuarial valuations were carried out as at December 31, 2016 using the following significant assumptions:
2016 2015
---------- Per annum ----------
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%
40
35.4 Reconciliation of (receivable from) / payable to defined benefit plans
Note 2016 2015

Post Post
Pension Gratuity Benevolent retirement Pension Gratuity Benevolent retirement
fund fund fund medical fund fund fund medical
benefit benefit
------------------------------------------------------------------------ (Rupees in '000) ----------------------------------------------------------------------
Present value of obligations 2,932,255 652,457 453,193 1,328,199 3,034,259 625,414 466,964 1,188,710
Fair 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 1,084,100
Current service cost 8,518 108,203 7,691 4,211 12,437 95,350 7,794 3,954
Interest cost 130,399 56,784 38,786 107,169 124,973 63,517 43,290 114,033
Benefits 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 40,968 118,829
Obligations 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) / payable

under defined benefit schemes
Opening balance 149,951 (26,904) (432,053) 1,188,710 78,172 (25,522) (422,364) 1,084,100
Mark-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) 117,987
Contribution 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 39,486 118,829
Benefits 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 3,954
Net interest on defined benefit asset / liability (136,071) (2,320) (38,546) 107,169 (169,961) (2,550) (43,949) 114,033
Return 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 This represents return allocated to those employees who exercised the conversion option offered in the year 2001, as referred to in note
5.9.1.
35.8.1.2 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.
35.8.2 Re-measurements recognised in OCI during the year

2016 2015
Post Post
Pension Gratuity Benevolent retirement Pension Gratuity Benevolent retirement
fund fund fund medical fund fund fund medical
benefit benefit
------------------------------------------------------------------------ (Rupees in '000) ----------------------------------------------------------------------
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
41
35.9 Components of plan assets

2016 2015
Pension Gratuity Benevolent Pension Gratuity Benevolent
fund fund fund fund fund fund
-------------------------------------------- (Rupees in '000) --------------------------------------------
Cash and cash equivalents - net of
current liabilities 13,559 2,767 1,688 224 190 182
Quoted securities
Ordinary 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 The funds primarily invests in government securities and accordingly do not carry any significant credit risk. These are
subject to interest rate risk based on market movements. Investment in term finance certificates are subject to credit risk
and interest rate risks, while equity securities are subject to price risk. These risks are regularly monitored by Trustees of
the employee funds.
35.10 Sensitivity analysis
Sensitivity analysis has been performed by varying one assumption keeping all other assumptions constant and calculating
the impact on the present value of the defined benefit obligations under the various employee benefit schemes. The
increase / (decrease) in the present value of defined benefit obligations as a result of change in each assumption is
summarized below:
2016
Pension Gratuity Benevolent Post retire-
fund fund fund ment
medical
benefit
------------------------------- (Rupees in '000) ---------------------------
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)
Although the analysis does not take account of the full distribution of expected cash flows, it does provide an approximation
of the sensitivity of the assumptions shown.
35.11 Expected contributions to be paid to the funds in the next financial year
The Bank contributes to the pension and gratuity funds according to the actuary's advice. Contribution to the benevolent
fund is made by the Bank as per the rates set out in the benevolent fund scheme. Based on actuarial advice, management
estimates that the expected contribution and charge / (reversal) for the year ending December 31, 2017, would be as
follows:
2017
fund fund fund ment
medical
benefit
------------------------------ (Rupees in '000) -----------------------
Expected contribution - 102,352 292 -
Expected (reversal) / charge for the year (2,988) 102,352 292 115,743
42
35.12 Maturity profile 2016

fund fund fund ment
medical
benefit
The weighted average duration of the obligation (in years) 6.27 6.93 4.45 9.49
35.13 Funding Policy
The Bank endeavours to ensure that liabilities under the various employee benefit schemes are covered by the Fund on
any valuation date having regards to the various actuarial assumptions such as projected future salary increase, expected
future contributions to the fund, projected increase in liability associated with future service and the projected investment
income of the Fund.
36. OTHER EMPLOYEE BENEFITS
36.1 Defined contribution plan
The Bank operates a contributory provident fund scheme for 7,981 (2015: 8,137) employees who are not in the pension
scheme. The employer and employee each contribute 8.33% of the basic salary to the funded scheme every month.
36.2 Employee Motivation and Retention Scheme
The Bank has a long term motivation and retention scheme for its employees. The liability of the Bank in respect of the
scheme for each year, if any, is fixed, and is accounted for in the year to which the scheme relates. The scheme is
managed 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 from
the scheme. No new Trust was set up during the current year.
37. COMPENSATION OF DIRECTORS AND EXECUTIVES
President / Chief Directors Executives

Executive Officer
2016 2015 2016 2015 2016 2015
---------------------------------------------------------- (Rupees in '000) ------------------------------------------------------
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 and
household equipment.
In addition to the above, all Executives including the Chief Executive Officer of the Bank, are also entitled to certain short
and long term employee benefits which are disclosed in note 36.2 to these unconsolidated financial statements.
43
38. FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair value of quoted securities other than those classified as held to maturity, is based on quoted market price. Quoted
securities classified as held to maturity are carried at cost. The fair value of unquoted equity securities, other than
investments in associates and subsidiaries, is determined on the basis of the break-up value of these investments as per
their latest available audited financial statements.
The fair value of unquoted debt securities, fixed term loans, other assets, other liabilities, fixed term deposits and
borrowings cannot be calculated with sufficient reliability due to the absence of a current and active market for these assets
and 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 different
from their carrying values since these are either short-term in nature or, in the case of customer loans and deposits, are
frequently repriced.
38.1 The Bank measures fair values using the following fair value hierarchy that reflects the significance of the inputs used in
making the measurements:
Level 1: Fair value measurements using quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the
assets or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
Level 3: Fair value measurements using input for the asset or liability that are not based on observable market data (i.e.
unobservable inputs).
The table below analyses financial instruments measured at the end of the reporting period by the level in the fair value
hierarchy into which the fair value measurement is categorised:
2016
Carrying /
Fair value
Notional value
Level 1 Level 2 Level 3 Total
On 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 - 19,399,674
Foreign Bonds - others 9,799,161 - 9,799,161 - 9,799,161
Ordinary shares of listed companies 22,220,669 22,220,669 - - 22,220,669
Debt securities (TFCs) 562,722 - 562,722 - 562,722
Investment 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 instruments
Forward 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
44
2015
Carrying / Fair value
Notional value Level 1 Level 2 Level 3 Total
On 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 instruments
Forward 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 Certain categories of operating fixed assets (land and buildings) and non-banking assets acquired in satisfactions of claims
are carried at revalued amounts (level 3 measurement) determined by professional valuers based on their assessment of
the market values as disclosed in note 11 and note 12 respectively.
38.3 Valuation techniques used in determination of fair values within level 2 and level 3.
Debt Securities
The fair value of Federal Government securities is determined using the prices / rates available on Mutual Funds
Association of Pakistan (MUFAP) and the fair value of other corporate and foreign government securites is determined
using the rates from Reuters / Bloomberg
Derivatives
The fair valuation techniques include forward pricing and swap models using present value calculations.
Operating fixed assets and non-bankingassets acquired insatisfaction of claims

Land, buildings and non-banking assets acquired in satisfaction of claims are revalued on a periodic basis using
professional 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 of
sensitivity has not been presented in these unconsolidated financial statements.
45
39. SEGMENT DETAILS WITH RESPECT TO BUSINESS ACTIVITIES
For the year ended December 31, 2016

Corporate Trading and Commercial Inter segment
Retail banking Others
finance sales banking elimination
-------------------------------------------------------- (Rupees in '000) --------------------------------------------------------
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% - -
For the year ended December 31, 2015

-------------------------------------------------------- (Rupees in '000) --------------------------------------------------------
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% - -
As at December 31, 2016

-------------------------------------------------------- (Rupees in '000) --------------------------------------------------------
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)
As at December 31, 2015

-------------------------------------------------------- (Rupees in '000) --------------------------------------------------------
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
The Bank is not engaged in any significant trust activities. However, it acts as custodian for some of the Term Finance
Certificates it arranges and distributes on behalf of its customers.
41. RELATED PARTY TRANSACTIONS
The Bank has related party transactions with its associates, subsidiary companies, employee benefit plans and its Directors
and executive officers (including their associates).
The Bank enters into transactions with related parties in the normal course of business. Contributions to and accruals in
respect of staff retirement benefits and other benefit plans are made in accordance with the actuarial valuations / terms of
the contribution plan. Remuneration to the executives / officers is determined in accordance with the terms of their
appointment.
Details of transactions with related parties during the year, other than those which have been disclosed elsewhere in these
unconsolidated financial statements, are as follows:
46
41.1 RELATED PARTY TRANSACTIONS

2016 2015
Key Key
Other related Other related
Directors management Subsidiaries Associates Directors management Subsidiaries Associates
parties parties
personnel personnel
------------------------------------------------------------------------------- (Rupees in '000) -------------------------------------------------------------------------------
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 -
2016 2015
Key Key
Other related Other related
Directors management Subsidiaries Associates Directors management Subsidiaries Associates
parties parties
personnel personnel
------------------------------------------------------------------------------- (Rupees in '000) -------------------------------------------------------------------------------
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 -
47
42. CAPITAL ADEQUACY

42.1. The State Bank of Pakistan (SBP) through its BPRD Circular No. 6 dated August 15, 2013 has issued Basel III Capital
instructions for Banks / DFIs. The revision to the previously applicable Capital Adequacy regulations pertain to components
of eligible capital and related deductions. The amendments have been introduced with an aim to further strengthen the
existing capital related rules. Basel III instructions have become effective from December 31, 2013; however, there is a
transitional phase during which the complete requirements would become applicable with full implementation by December
31, 2019.
The Bank’s capital adequacy is reported using the rules and ratios provided by the State Bank of Pakistan. The capital
adequacy 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 according
to specific treatments as per the requirements of SBP that measure the varying levels of risk attached to on balance sheet
and off-balance sheet exposures. Under the current capital adequacy regulations, credit risk and market risk exposures are
measured using the Standardized Approach and operational risk is measured using the Basic Indicator Approach. Credit
risk 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 covers
risks 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 the
Foundation Internal Ratings Based Approach for credit risk, Internal Models Approach for market risk and the Alternate
Standardized Approach for operational risk.
42.2 Capital Management
The objective of managing capital is to safeguard the Bank's ability to continue as a going concern. It is the policy of the
Bank to maintain a strong capital base so as to maintain investor, depositor and market confidence and to sustain future
development 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.
Statutory minimum capital and capital adequacy requirements

The SBP through its BSD Circular No. 07 dated April 15, 2009 has prescribed the minimum paid-up capital (net of
accumulated 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.
Banks are also required to maintain a minimum Capital Adequacy Ratio (CAR) of 10.0% plus capital conservation buffer of
0.65% of the risk weighted exposures of the Bank. Further, under Basel III instructions, Banks are also required to maintain
a Common Equity Tier 1 (CET 1) ratio and Tier 1 ratio of 6.65% and 7.5%, respectively, as at December 31, 2016. As at
December 31, 2016 the Bank is fully compliant with prescribed ratios as the Bank’s CAR is 15.13% whereas CET 1 and
Tier 1 ratios both stood at 10.87%. The Bank and its individually regulated operations have complied with all capital
requirements throughout the year.
Tier 1 capital comprises of Common Equity Tier 1 (CET 1) and Additional Tier 1 (AT 1) capital.
CET 1 capital includes fully paid-up capital, balance in share premium account, reserve for issue of bonus shares, general
reserves as per the financial statements and net unappropriated profits.
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 asset
iv) Investment in own shares
v) 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) 20% of investments in majority capital instruments of financial subsidiaries not consolidated in the statement of
financial position during transition phase.
Tier 2 capital includes general provisions for loan losses, surplus on the revaluation of fixed assets, fixed income financial
instruments (AFS) and equity investments (AFS), foreign exchange translation reserves and subordinated debts (meeting
the revised eligibility criteria). The deductions from Tier 2 include mainly:
i) Reciprocal cross holdings in other capital instruments of other banks, financial institution and insurance companies;
ii) 20% of investments in majority owned securities of financial subsidiaries not consolidated in the statement of financial
position, during transition phase.
48
42.3 Capital Adequacy Ratio (CAR) disclosure template:
2016 2015
------------------------ (Rupees in '000) --------------------
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) Capital

12 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 Capital
24 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 SBP

50 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%
49
2016 2015
Regulatory Adjustments and Additional Information Amount Amounts Amount
subject to Pre-
Basel III
treatment*
------------------------ (Rupees in '000) --------------------
42.3.1 Common Equity Tier 1 capital: Regulatory adjustments

1 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 334,864 1,040,472
insurance entities
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 adjustments

23 Investment in mutual funds exceeding the prescribed limit [SBP specific 56,915 59,595
adjustment]
24 Investment in own AT1 capital instruments - -
25 Reciprocal cross holdings in Additional Tier 1 capital instruments of banking, - -
financial and insurance entities
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 1,195,328 1,195,328 1,792,992
III treatment which, during transitional period, remain subject to deduction from
additional tier-1 capital
30 Total regulatory adjustment applied to AT1 capital (sum of 23 to 29) 1,252,243 1,852,587
50
2016 2015
Regulatory Adjustments and Additional Information Amount Amounts Amount
subject to Pre-
Basel III
treatment*
------------------------ (Rupees in '000) --------------------
42.3.3 Tier 2 Capital: regulatory adjustments

31 Portion of deduction applied 50:50 to Tier-1 and Tier-2 capital based on pre-Basel 1,195,328 1,195,328 1,792,992
III treatment which, during transitional period, remain subject to deduction from
tier-2 capital
32 Reciprocal cross holdings in Tier 2 instruments of banking, financial and insurance - -
entities
33 Investment in own Tier 2 capital instrument - -
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
------------------- Rupees in '000 --------------------
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 2

41 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 - -
51
42.4 Capital Structure Reconciliation
As at Dec 31, 2016

Balance Sheet Under
as per regulatory
Step 1 published scope of
financial consolidation
statements
Assets --------- (Rupees in '000) ---------
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 - -
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
52
42.4 Capital Structure (Contd.)

As at Dec 31, 2016
Balance Sheet Under Reference
as per published regulatory
Step 2 financial scope of
statements consolidation
--------- (Rupees in '000) ---------

Assets
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 - - a
exceeding 10% threshold
of which: significant capital investments in financial sector entities exceeding - - b
regulatory threshold
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 e
Advances 510,110,924 510,110,924
shortfall in provisions/ excess of total EL amount over eligible provisions under - - f

IRB
general provisions reflected in Tier 2 capital 3,128,774 3,128,774 g
Fixed Assets 35,581,758 35,581,758
of which: Goodwill - - j
of which: Intangibles 949,816 949,816 k
Deferred Tax Assets - -
of which: DTAs excluding those arising from temporary differences - - h
of which: DTAs arising from temporary differences exceeding regulatory threshold - - i
Other assets 44,730,953 44,730,953
of which: Defined-benefit pension fund net assets 56,662 56,662 l
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 - -
of which: eligible for inclusion in AT1 - - m
of which: eligible for inclusion in Tier 2 - - n
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 r
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

of which: amount eligible for CET1 12,241,798 12,241,798 s
of which: amount eligible for AT1 - - t
Reserves 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 v
Unappropriated profit/ (losses) 64,246,270 64,246,270 w
Minority 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 - - z
Surplus 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) - - ab
Total liabilities and equity 1,577,551,023 1,577,551,023
53
42.4 Capital Structure (Contd.)
Step 3 Component of Source based on

regulatory capital reference number
reported by bank from step 2
(Rupees in '000)
Common Equity Tier 1 capital (CET1): Instruments and reserves
1 Fully Paid-up Capital/ Capital deposited with SBP 12,241,798 (s)

2 Balance in Share Premium Account -
3 Reserve for issue of Bonus Shares -
4 General/ Statutory Reserves 27,197,615 (u)
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 - (x)
bank subsidiaries (amount allowed in CET1 capital of the consolidation group)
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 - {(h) - (r} * x%
differences (net of related tax liability)
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 - (a) - (ac) - (ae)
outside the scope of regulatory consolidation, where the bank does not own more than 10%
of the issued share capital (amount above 10% threshold)
21 Significant investments in the capital instruments issued by banking, financial and insurance - (b) - (ad) - (af)
entities that are outside the scope of regulatory consolidation (amount above 10% threshold)
22 Deferred Tax Assets arising from temporary differences (amount above 10% threshold, net of - (i)
related tax liability)
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 - (y)
parties (amount allowed in group AT 1)
35 of which: instrument issued by subsidiaries subject to phase out -
36 AT1 before regulatory adjustments
54
Component of Source based on

regulatory capital reference number
reported by bank from step 2
(Rupees in '000)
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)
41 Significant investments in the capital instruments issued by banking, financial and insurance - (ad)
entities that are outside the scope of regulatory consolidation
42 Portion of deduction applied 50:50 to core capital and supplementary capital based on pre- 1,195,328
Basel III treatment which, during transitional period, remain subject to deduction from tier-1
capital
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 Capital
47 Qualifying Tier 2 capital instruments under Basel III - (n)
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 - (z)
in group tier 2)
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 3,128,774 (g)
Risk Weighted Assets
52 Revaluation Reserves eligible for Tier 2
53 of which: portion pertaining to Property 15,282,476
portion of (aa)
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 adjustments
58 Portion of deduction applied 50:50 to core capital and supplementary capital based on pre- 1,195,328
Basel III treatment which, during transitional period, remain subject to deduction from tier-2
capital
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)
62 Significant investments in the capital instruments issued by banking, financial and insurance - (af)
entities that are outside the scope of regulatory consolidation
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
55
42.5 Main Features Template of Regulatory Capital Instruments
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.
Disclosure template for main features of regulatory capital instruments
Main Features Common Shares

1 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 Laws
Regulatory 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 Common equity (ranks after all
instrument creditors including depositors)
36 Non-compliant transitioned features Not applicable
37 If yes, specify non-compliant features Not applicable
56
42.6 Risk Weighted Assets
Capital Requirements Risk Weighted Assets

2016 2015 2016 2015
------------------ (Rupees in '000) ---------------
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 ratio

Total 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
The Bank follows the Standardized Approach for its credit risk exposures, which sets out fixed risk weights corresponding
to 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 by
External Credit Assessment Institutions (ECAIs) duly recognized by the SBP. The Bank selects particular ECAIs for each
type of exposure. The Bank utilizes the credit ratings assigned by Pakistan Credit Rating Agency (PACRA), Japan Credit
Rating Company Limited – Vital Information Systems (JCR-VIS), Fitch, Moody’s and Standard & Poors (S & P). The Bank
also utilizes rating scores of Export Credit Agencies (ECAs) participating in the “Arrangement on Officially Supported
Export 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
For all exposures, the selected ratings are translated to the standard rating grades given by the SBP. The mapping
tables used for converting ECAI ratings to SBP rating grades are given below:
Long Term Rating Grades mapping
SBP Rating grade Fitch Moody’s S&P PACRA JCR-VIS ECA Scores
1 AAA Aaa AAA AAA AAA 0

AA+ Aa1 AA+ AA+ AA+ 1
AA Aa2 AA AA AA
AA- Aa3 AA- AA- AA-
2 A+ A1 A+ A+ A+ 2
A A2 A A A
A- A3 A- A- A-
3 BBB+ Baa1 BBB+ BBB+ BBB+ 3
BBB Baa2 BBB BBB BBB
BBB- Baa3 BBB- BBB- BBB-
4 BB+ Ba1 BB+ BB+ BB+ 4
BB Ba2 BB BB BB
BB- Ba3 BB- BB- BB-
5 B+ B1 B+ B+ B+ 5
B B2 B B B 6
B- B3 B- B- B-
6 CCC+ and Caa1 and CCC+ and CCC+ and CCC+ and 7
below below below below below
Short Term Rating Grades mapping
SBP Rating Grade Fitch Moody’s S&P PACRA JCR-VIS
S1 F1 P-1 A-1+ A-1+ A-1+

S1 F1 P-1 A-1 A-1 A-1
S2 F2 P-2 A-2 A-2 A-2
S3 F3 P-3 A-3 A-3 A-3
S4 Others Others Others Others Others
58
42.8 Credit exposures subject to Standardized Approach
2016 2015
Rating
category / Amount Deduction Amount Deduction
Exposures Net amount Net amount
risk outstanding CRM outstanding CRM
weights
------------------------------- (Rupees in '000) -----------------------------------
Cash and cash equivalents - 18,069,390 - 18,069,390 13,072,712 - 13,072,712

Claims on Federal and Provincial Governments and
SBP, denominated in PKR - 497,451,486 128,836,359 368,615,127 445,363,390 143,583,595 301,779,795
Foreign 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 - 14,664

Government of Pakistan or provincial 2 27,915,202 - 27,915,202 27,730,887 - 27,730,887
governments or SBP denominated in 3 3,753,370 - 3,753,370 2,006,945 - 2,006,945
currencies 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 - 27,342,796
Unrated - - - - - -
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 40,125,741
2 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 - 1,698,024
5,6 - - - - - -
Unrated-1 220,747,322 27,370,889 193,376,433 192,468,105 25,043,077 167,425,028
Unrated-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
Claims on banks with maturity less than 3 months and 1,2,3 362,206 - 362,206 1,359,453 - 1,359,453
denominated in foreign currency 4,5 - - - 38,916 - 38,916
6 84,911 - 84,911 - - -
Unrated 3,261,702 - 3,261,702 3,202,758 - 3,202,758
3,708,819 - 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 36,633,203
4,5 9,389,435 - 9,389,435 7,594,035 208,981 7,385,054
6 4,345,866 - 4,345,866 6,699,805 - 6,699,805
Unrated 30,569,544 - 30,569,544 29,987,458 - 29,987,458
195,678,076 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 17,902,671
124,950,308 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 27,730,134
Claims 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 mortgage
of 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 - 2,390,656

Fixed assets 100% 34,631,942 - 34,631,942 31,401,855 - 31,401,855
Others 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
59
Credit Risk: Disclosures with respect to Credit Risk Mitigation for Standardized Approach
The Bank has adopted the Comprehensive Approach of Credit Risk Mitigation for the Banking Book. Under this
approach, cash, lien on deposits, government securities and eligible guarantees etc. are considered as eligible
collateral. The Bank has in place detailed guidelines with respect to the valuation and management of each of these
types of collateral. Where the Bank’s exposure to an obligor is secured by eligible collateral, the Bank reduces its
exposure for the calculation of capital requirement by the realizable amount of the collateral, adjusted for any applicable
No credit risk mitigation benefit is taken in the Trading Book.
For each asset class, the risk weights as specified by the SBP or corresponding to the SBP rating grades are applied to
the net amount for the calculation of Risk Weighted Assets.
42.9 Leverage Ratio
The State Bank of Pakistan (SBP) through its BPRD Circular No. 06 of 2013 has issued instructions regarding
implementation of parallel run of leverage ratio reporting and its components from December 31, 2013 to December
31, 2017.During this period the final calibration, and any further adjustments to the definition, will be completed, with a
view to set the leverage ratio as a separate capital standard on December 31, 2018. Banks are required to disclose
the leverage ratio from December 31, 2015.
The Basel III leverage ratio is defined as the capital measure (the numerator) divided by the exposure measure (the
denominator), with this ratio expressed as a percentage:
Leverage Ratio = Tier 1 capital (after related deductions)

Total Exposure
As at December 31, 2016 the Bank’s Leverage ratio stood at 4.85% which is well above the minimum requirement of
3.0%
2016 2015
--------- (Rupees in '000) ---------
On-Balance Sheet Assets

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
60
2016 2015
--------- (Rupees in '000) ---------
Off-Balance Sheet Items excluding derivatives

Direct 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
Commitments in respect of Derivatives - Off

Balance Sheet Items (Derivatives having negative
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 87,402,283

Total Exposures (sum of A,B and C) 2,084,092,255 1,819,373,983
Leverage Ratio 4.85% 4.80%
43. RISK MANAGEMENT
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 been
formed which looks at all risks collectively at senior management level. The committee is chaired by the President and
comprises of Heads of all Risk areas, Finance, Business etc. The Risk and Credit Policy Group is responsible for the
development and implementation of all risk policies as approved by the BRCC / BoD. The group is organized into the
functions 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 a
senior manager who reports directly to the Group Executive, Risk and Credit Policy. The role of the Risk and Credit
Policy Group includes:
- Determining guidelines relating to the Bank’s risk appetite.

- Recommending risk management policies in accordance with the Prudential Regulations, Basel II / III framework
and international best practices.
- Reviewing policies / manuals and ensuring that these are in accordance with BRCC / BoD approved risk
management policies.
- 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.
61
43.1 Credit risk
Credit risk is the risk that a customer or counterparty may not settle an obligation for full value, either when due or at any
time thereafter. This risk arises from the potential that a customer's or counterparty’s willingness or ability to meet such an
obligation 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 and
procedures in relation to credit initiation, approval, documentation and disbursement, credit maintenance and remedial
management.
Individual credit authorities are delegated to credit officers by the Group Head - Risk & Credit Policy, according to their
seasoning / maturity. Approvals for Corporate and Consumer loans are centralized, while approval authorities for
Commercial, 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 similarly
affected by changes in economic, political or other conditions. The Bank manages, limits and controls concentrations of
credit risk to individual counterparties and groups, and to industries, where appropriate. Limits are also applied to
portfolios 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.
43.2 Segmental information
43.2.1 Segments by class of business

2016
Gross advances Deposits Contingencies and
commitments
(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%
62
2015
Contingencies and
Gross advances Deposits
commitments
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

2016
commitments
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
2015
commitments
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%
63
43.2.3 Details of non performing advances and specific provisions by class of business segment
2016 2015
Classified Specific Classified Specific
advances provision held advances provision held
---------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------
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
2016 2015
Classified Specific Classified Specific
advances provision held advances provision held
---------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------
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
2016
Profit before Total assets Net assets Contingencies
taxation employed employed and
commitments
---------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------
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
64
2015
Profit before Total assets Net assets Contingencies
taxation employed employed and
commitments
---------------------------------------------------------- (Rupees in '000) ---------------------------------------------------
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
Market risk is the risk that the fair value of a financial instrument will fluctuate due to movements in market prices. It results
from changes in interest rates, exchange rates and equity prices as well as from changes in the correlations between
them. Each of these components of market risk consists of a general market risk and a specific market risk that is driven
by 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 to
prevent any undue risk concentrations in trading books, taking into account variations in price, volatility, market depth and
liquidity. These controls include limits on exposure to individual market risk variables as well as limits on concentrations of
tenors and issuers.
Trading activities are centered in the Treasury and Capital Markets Group which facilitates clients and also runs proprietary
positions. The Bank is active in the cash and derivative markets for equity, interest rate and foreign exchange.
The Market and Treasury Risk division performs market risk management activities. Within this division, the Market Risk
Management unit is responsible for the development and review of market risk policies and processes, and is involved in
research, financial modeling and testing / implementation of risk management systems, while Treasury Middle Office is
responsible for implementation and monitoring of market risk and other policies, escalation of deviations to senior
management, and MIS reporting.
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 policies
approved by the BoD and BRCC.
- To review new product proposals and propose / recommend / approve procedures for the management of their
market risk. Various limits are assigned to different businesses on a product / portfolio basis. The products are
approved 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. Stress
testing activities are performed on a quarterly basis on both the Banking and Trading books.
65
43.3.1 Foreign Exchange Risk

2016
Assets Liabilities Off - balance Net currency
sheet items exposure
----------------------------- (Rupees in '000) -----------------------------
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
2015
Assets Liabilities Off - balance Net currency
sheet items exposure
----------------------------- (Rupees in '000) -----------------------------
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
-
Foreign Exchange Risk is the risk that the fair value of a financial instrument will fluctuate due to changes in foreign
exchange rates. Exposures are monitored by currency to ensure that they remain within the established limits for each
currency. Exposures are also monitored on an overall basis to ensure compliance with the Bank’s SBP approved Foreign
Exchange Exposure Limit.
The Bank is an active participant in the cash and derivatives markets for currencies and carries currency risk from these
trading activities, conducted primarily by the Treasury and Capital Markets Group (TCM). These trading exposures are
monitored through prescribed stress tests and sensitivity analyses.
The Bank's reporting currency is the Pakistan Rupee, but its assets, liabilities, income and expenses are denominated in
multiple currencies. From time to time, TCM proactively hedges foreign currency exposures resulting from its market
making activities, subject to pre-defined limits.
43.3.2 Equity position risk
Equity position risk is the risk that the fair value of a financial instrument will fluctuate due to changes in the prices of
individual stocks or the levels of equity indices. The Bank’s equity book comprises of held for trading (HFT) and available
for sale (AFS) portfolios. The objective of the HFT portfolio is to make short-term capital gains, whilst the AFS portfolio is
maintained with a medium term view of earning both capital gains and dividend income. Product program manuals have
been developed to provide guidelines on the objectives and policies, risks and mitigants, limits and controls for the equity
portfolios of the Bank.
43.3.3 Yield / interest rate risk

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 arises
from 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 of
assets and liabilities.
Interest rate risk is monitored and managed by performing periodic gap analysis, sensitivity analysis and stress testing
and taking appropriate actions where required.
66
43.3.4 Mismatch of interest rate sensitive assets and liabilities

2016
Exposed to yield / interest rate risk
Non-interest
Effective
Over 3 Over 6 bearing
yield / Total Over 1 month Over 1 year Over 2 years Over 3 years Over 5 years
Upto 1 month months to 6 months to 1 Over 10 years financial
interest rate to 3 months to 2 years to 3 years to 5 years to 10 years
months year instruments
On-balance sheet financial instruments % ------------------------------------------------------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------------------------------------------------------
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
67
2015
Effective Total Exposed to yield / interest rate risk Non-interest
yield / Upto 1 month Over 1 month Over 3 Over 6 Over 1 year Over 2 years Over 3 years Over 5 years Over 10 years bearing
interest rate to 3 months months to 6 months to 1 to 2 years to 3 years to 5 years to 10 years financial
months year instruments
On-balance sheet financial instruments % ------------------------------------------------------------------------------------------------------------------ (Rupees in '000) ------------------------------------------------------------------------------------------------------------------

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
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.
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, if
required.
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 stressed
conditions, without incurring unacceptable losses or risking sustained damage to business franchises. A centralized approach is adopted, based on an integrated framework
incorporating 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 framework
entails 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 market
conditions, 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.
43.4.1 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 estimated
using 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 to
specific 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
Total Upto 1 month Over 1 month Over 3 months Over 6 months Over 1 year to Over 2 years Over 3 years Over 5 years Over 10 years
to 3 months to 6 months to 1 year 2 years to 3 years to 5 years to 10 years
--------------------------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------------------------
Assets
Cash 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
Liabilities
Bills 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
69
2015
Total Upto 1 month Over 1 month Over 3 months Over 6 months Over 1 year to Over 2 years Over 3 years Over 5 years Over 10 years
to 3 months to 6 months to 1 year 2 years to 3 years to 5 years to 10 years
--------------------------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------------------------
Assets
Cash 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
Liabilities
Bills 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:

Reserves 38,402,303
142,135,475
70
43.4.2 Maturities of assets and liabilities - based on contractual maturity of the assets and liabilities of the Bank
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 are
shown in the first bucket.
2016
Total Upto 1 month Over 1 Over 3 Over 6 Over 1 year Over 2 years Over 3 years Over 5 years Over 10
month to 3 months to 6 months to 1 to 2 years to 3 years to 5 years to 10 years years
months months year
--------------------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------------------
Assets
Cash and balances with treasury banks 131,506,861 131,506,861 - - - - - - - -

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:

Reserves 40,454,505
151,786,861
71
2015
Total Upto 1 month Over 1 Over 3 Over 6 Over 1 year Over 2 years Over 3 years Over 5 years Over 10
month to 3 months to 6 months to 1 to 2 years to 3 years to 5 years to 10 years years
months months year
--------------------------------------------------------------------------------------------- (Rupees in '000) ---------------------------------------------------------------------------------------------
Assets
Cash and balances with treasury banks 112,011,276 112,011,276 - - - - - - - -

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:

Reserves 38,402,303
142,135,475
72
43.5 Operational risk
Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or from
external events.
The Operational Risk & Basel II Division is primarily responsible for the oversight of operational risk management across
the Bank. The operational risk management framework of the Bank is governed by the Operational Risk Management
Policy and Procedures, while the implementation is supported by an operational risk management system and designated
operational risk coordinators within different units across the bank. The framework is in line with international best
practices, flexible enough to implement in stages and permits the overall approach to evolve in response to organizational
learning and future requirements.
Loss data, collected through a well defined program, is evaluated and processes are reviewed for improvements in
mitigation techniques. Periodic workshops are conducted for Risk & Control Self Assessment and key risk exposures are
identified and assessed against existing controls to evaluate improvement opportunities. Key Risk Indicators are also
defined for monitoring of risk exposures. New products, systems, activities and processes, are subject to comprehensive
operational risk assessments, before implementation.
Business Continuity Plans have been implemented across the bank, clearly defining the roles and responsibilities of
respective stakeholders, and covering recovery strategy, IT and structural backups, scenario and impact analyses and
testing directives. The outsourcing policy has also been augmented to address risks associated with such arrangements.
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

--------- (Rupees in '000) ---------
ASSETS
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
LIABILITIES
Bills 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 BY
Islamic 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
73
The profit and loss account of the Bank's Islamic Banking branches for the year ended December 31 is as follows:
2016 2015
--------- (Rupees in '000) ---------
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 Income
Fee, 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 Expenses
Administrative 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

Addition during the year 1,404 2,240
Payments during the year (3,098) (5,000)
Closing balance 648 2,342
44.2. This includes Bai Muajjal agreements entered into with various financial institutions whereby the Bank 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.
44.3. Islamic financing and related assets 2016 2015

--------- (Rupees in '000) ---------
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
Advances
Advances 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
74
44.4 Ijarah
2016
Cost Accumulated Depreciation
Net book value
At January 1, At December At January 1, At December
Additions / Charge / at December
2016 31, 2016 2016 31, 2016
(Deletions) (Deletions) 31, 2016
----------------------------------------------------------- (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
2015
Cost Accumulated Depreciation
Net book value
At January 1, At December At January 1, At December
Additions / Charge / at December
2015 31, 2015 2015 31, 2015
(Deletions) (Deletions) 31, 2015
----------------------------------------------------------- (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
During 2016, UBL Ameen (the Mudarib) maintained following pools which accept deposits on the basis of Mudaraba from
depositors (Rabbulmaal). Pool funds are invested in Islamic modes of financing and investments. The profit earned on the
pool is therefore susceptible to the same market and credit risks as discussed in note 43 to the unconsolidated financial
statements.
Ameen Daily Munafa Account (ADMA) Pool
The ADMA pool consists of deposits for the ADMA product. 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 balance represents the distributable profit.
Special Pool(s)
Separate pool(s) are created where the customers desire to invest in high yield assets. These pool(s) rates are higher than
the general pool depending on the assets. In case of loss in special pool, the loss will be borne by the Special pool
members. 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 balance
represents the distributable profit.
Treasury Pool(s)
Treasury Pools are managed on the basis of Musharakah / Mudarabah, wherein UBL Ameen and Financial Institutions share
actual return earned by the pool according to pre-defined profit sharing ratio.
General Pool
The General pool consists of all other remunerative deposits. The net return on the pool is arrived at after deduction of direct
costs from the gross return earned on the pool. Currently, the entire net return is considered as distributable profit without
paying any profit to the Mudarib on its equity.
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 the
total pool, as well as by the weightage assigned to the various deposit categories.
75
The Mudarib’s share for the year ended December 31, 2016 is Rs. 505.96 million (28.6% of distributable profit). Of this, an
amount of Rs. 136.58 million (27% of Mudarib share) was distributed back to depositors as Hiba. The rate of profit earned on
average earning assets was 6.29% per annum and the rate of profit paid on average deposits was 3.96% per annum.
2016 2015
44.6 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
Throughout the year, political and economic condition in Yemen continued to remain turbulent. International players have
been making continuous efforts to resolve the long reeling conflict, however, no resolution has been reached so far. In
September 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 local
currencies. 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 the
initial phase of the war, the Central Bank of Yemen kept the exchange parity unchanged, however in April 2016 the Central
Bank 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 further
lower parity.
Out of the 3 branches in Yemen, UBL is currently operating with 2 branches in Sana’a and Hodeida under close supervision
of executives at the Business Continuity Plan (BCP) office, Karachi. The Branch in Aden is closed due to restricted access to
the premises in which it is located. Customers of Aden branch are being served from the other two branches.
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.
Ever since the crises started, the Bank’s risk is being managed very closely with a clear strategy to re-risk the Yemen Book
as far as practicable. As a result, the bank has been able to reduce its clean exposure substantially. Going forward, the
strategy is to continuously reduce bank’s credit exposure without executing any new business and continue maintaining
investments in local currency sovereign bonds.
The management has taken appropriate measures to support the sustainability of the Bank’s business as may be required in
the prevalent circumstances and is of the view that as such there is no issue on going concern on UBL Yemen operations in
the foreseeable future.
76
46. NON-ADJUSTING EVENT AFTER THE BALANCE SHEET DATE
The Board of Directors in its meeting held on February 17, 2017 has proposed a cash dividend in respect of 2016 of Rs.4
per share (2015: Rs. 4 per share). In addition, the Directors have also announced a bonus issue of nil (2015: nil). These
appropriations will be approved in the forthcoming Annual General Meeting. The unconsolidated financial statements for the
year ended December 31, 2016 do not include the effect of these appropriations which will be accounted for in the
unconsolidated financial statements for the year ending December 31, 2017.
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
Comparative information has been reclassified, rearranged or additionally incorporated in these unconsolidated financial
statements 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:
- 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.
- 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.
No other major reclassifications were made during the period.
48.2 Figures have been rounded off to the nearest thousand rupees unless otherwise stated.
77
Annexure 'A' as referred to in note 9.8 of the Bank's unconsolidated financial statements
1) Particulars of investments held in listed companies and Modaraba
Number of
Paid up value
shares / Total paid up
Investee per share / Cost
certificates value
certificate
held
(Rupees) (Rupees in '000)
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 Trust
Dolmen 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
2) Particulars of investments held in unlisted companies
Number of Based on
Percentage Break-up Paid up
shares / audited Name of Chief
Investee of holding value per value per Cost
certificates accounts as Executive
(%) share share
held at
Rupees Rupees (Rupees

'000)
Shareholding more than 10%
Pakistan Agricultural Storage & 18.3% 5,500 216,939 1,000 5,500 31-Mar-16 Capt (R) Tariq Masud
Services Corporation Limited
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 9.1% 2,266,607 33 10 1,526 30-Jun-16 Haider Wahab

Technologies (Pvt.) Limited
National Investment Trust Limited 8.3% 79,200 9,088 100 100 30-Jun-16 Shahid Ghaffar
News-VIS Credit Information 4.7% 32,500 - 10 325 30-Jun-16 Faheem Ahmad

Services (Pvt.) Limited
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
Annexure 'A' as referref to in note 9.8 of the Bank's unconsolifatef financial statements
3) Particulars of bonfs
Terms of Refemption
Outstanding
Investee Interest/ Rate of Interest/Profit
Principal Amount
Profit
(Rupees in
'000)
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 - Eurobonds

Islamic Republic of Pakistan - 2017 - Eurobond At Maturity Bi-annually 6.875% 4,168,154
Islamic Republic of Pakistan - 2025 - Eurobond At Maturity Bi-annually 8.250% 523,013
14,053,787
Foreign bonds - sovereign

Angola 2019 At Maturity Quarterly 7.000% 481,577
Arab Republic of Egypt 2020 At Maturity Bi-annually 5.750% 778,628
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 - others

Bank 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
3) Particulars of bonds (Contd.)
Terms of Redemption
Outstanding
Investee Interest/ Rate of Interest/Profit
Principal Amount
Profit
(Rupees in
'000)
Government of Pakistan - Eurobonds

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
Sukuks
Al 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 13,122
KIBOR
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

Arab Republic of Egypt At Maturity Bi-annually 5.875% 313,928
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 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 - others

Ezdan 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
Terms of Redemption Outstanding

Investee Rate of Interest
Principal Interest Amount
(Rupees in
'000)
Private Sector
Effef 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
5) Particulars of investments in term finance certificates
No. of
Paid up value Total Paid up Outstanding
Investee Certificates Name of Chief Executive
per certificate value Amount
held
Unlisted
Azgard Nine Limited 12,944 5,000 64,720 64,720 Ahmed H. Shaikh

Faysal Bank Limited 46,000 5,000 230,000 114,770 Nauman Ansari
Pakistan International Airlines Corporation TFC* 1,700 5,000 8,500 8,498 Nasser N S Jaffer
187,988
Listed

NIB Bank Limited TFC 30,000 5,000 150,000 149,850 Atif R. Bokhari
Bank 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 Jaffer
Security Leasing Corporation Limited 40,000 5,000 200,000 30,807 Mohammed Khalid Ali
Faysal Bank Limited 24,000 5,000 120,000 59,880 Nauman Ansari
Al-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 Shakeel
Cast-N-Link Products Limited 16 1,064,039 17,025 2,549 Nisar Ahmed
Independent 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 Dada
Askari Commercial Bank Limited 120,000 5,000 600,000 599,520 Syed Majeedullah Husaini
WAPDA 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 Bajwa

NIB Bank Limited 30,000 5,000 150,000 149,850 Atif R. Bokhari
Soneri 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
No. of
Paid up value Total Paid up Outstanding
Investee Certificates Name of Chief Executive
per certificate value Amount
held
Morgah Valley Limited 16 29,250 468,000 436 Air Marshal (Retd.) A. Rahim Khan
Zamrock Fibers Glass Limited 12 32,833 394,000 2,359 Mr. S. Zamir Syed
2,795
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 Unrated

Aisha Steel Mills Limited 13,654 Unrated
Amreli Steels Limited 18,312 Unrated
DP World 12,685 Baa3
Engro Corporation Limited 474,135 AA
Engro Fertilizers Limited 453,359 AA-
Fatima Fertilizer Company Limited 826,336 AA-
Fauji Cement Limited 743,820 Unrated
Fauji Fertilizer Company Limited 1,852,568 Unrated
Fauji Fertilizer Bin Qasim Limited 2,391,456 Unrated
Ghani Gases Limited 399,622 Unrated
Ghani Global Glass Limited 70,226 Unrated
Gharibwal Cement Limited 606,290 Unrated
Hub 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 Unrated
Kohinoor Spinning Mills Limited 43,087 Unrated
Kot Addu Power Company Limited 6,258,454 AA+
Mughal Steel Limited 12,386 Unrated
Nishat Chunian Power Limited 1,015,645 A-
Oil & Gas Development Company Limited 200,074 Unrated
Pakistan Telecommunication Company Limited 471,055 Unrated
Pakistan Petroleum Limited 94,090 Unrated
Pakistan State Oil Company Limited 130,263 AA
Saif Power Limited 367,139 A+
Soneri Bank Limited 393,445 AA-
22,220,669
Investments in Real Estate Investment Trust

Dolmen City REIT 453,170 AM2
Investee Cost Credit Rating

(Rupees in '000)
Investments in preference shares
Masood Textile Mills Limited 36,667 Unrated

JSC Alliance Bank 335,969 Caa2
372,636
Investments in unlisted shares
Shareholding more than 10%

Pakistan Agricultural Storage & Services Corporation Limited 5,500 Unrated
Cinepax Limited 50,372 Unrated
Shareholding upto 10%

World Bridge Connect Inc. 77,606 Unrated
First Women Bank Limited 21,100 A-
National Institutional Facilitation Technologies (Pvt.) Limited 1,526 Unrated
SME Bank Limited 26,950 B
Kay Textile Mills Limited 3,778 unrated
Techlogix International Limited 50,702 unrated
SWIFT 2,905 unrated
National Investment Trust Limited 100 AM2+
News-VIS Credit Information Services (Pvt.) Limited 325 unrated
MasterCard Incorporated - A2
The 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 Securities
Market Treasury Bills 73,041,975 Unrated - Government Securities
Pakistan Investment Bonds 295,568,204 Unrated - Government Securities
368,610,179
Government of Pakistan Ijarah Sukuk
Government of Pakistan Ijarah Sukuk 7,466,264 Score7
Government of Pakistan - Euro bond

Islamic Republic of Pakistan - 2017 - Euro Bond 4,303,624 Score7
Islamic Republic of Pakistan - 2025 - Euro Bond 574,090 Score7
14,619,195
Angola 2019 473,585 Score5,6
Arab Republic of Egypt 2020 774,739 Score6
Arab Republic of Egypt 2025 303,341 Score6
Government of Dubai Bond 2020 1,697,484 Score2
Government of Dubai Bond 2022 1,504,818 Score2
Kingdom of Bahrain Bond 2020 1,113,897 Score4
Kingdom of Bahrain Bond 2026 868,461 Score4
Kingdom of Jordan 2026 706,599 Score5
Republic of Ghana 2017 282,494 Score5,6
Republic of Kenya 1,618,646 Score6
Republic of Nigeria 2023 983,432 Score5,6
Republic of Sri Lanka Bond 2020 1,133,262 Score6
Republic of Sri Lanka Bond 2021 807,452 Score5,6
Republic of Sri Lanka 2022 1,333,871 Score6
Republic of Sri Lanka 2026 479,900 Score6
Republic of Turkey 822,023 Score4
Republic of Vietnam 309,558 Score5,6
State of Qatar Bond 2030 2,726,164 Score3
Turkey Sukuks 21 40,637 Score4
United Republic of Tanzania 1,438,235 Score6
19,418,597
Foreign bonds - others
Bank of Ceylon 2017 495,898 B+
CBQ Finance 2019 494,032 A2
Dubai Electricity and Water Authority 2018 3,383,201 BBB+
Dubai Electricity and Water Authority 2020 1,624,155 BBB+
EMAAR 2019 91,005 Baa3
Emirates Airlines 2023 1,312,874 Unrated
Ezdan Sukuk Co Ltd 129,926 Ba1
IPIC GMTN 2022 202,600 aa2
Jebel Ali Free Zone Authority 2019 1,016,413 BBB-
MAF GLOBAL 2019 524,477 Unrated
PTA Bank 2018 304,028 BB
Qatari Diar QSC - 2020 201,633 Unrated
9,780,241
Term finance certificates
Listed
Azgard Nine Limited 97,615 Defaulted
Bank Alfalah Limited TFC 124,007 AA-
NIB Bank TFC 151,552 A+
373,174
Unlisted
Azgard Nine Limited 64,720 Defaulted
Faysal Bank Limited 115,700 AA
Pakistan 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 Statements
Details of loans write offs of Rs. 500,000 and above Rs. in '000
At the beginning Written off
Name of individuals / Interest / Interest / Interest / Interest / Interest / Interest /

Others Others Others Others Others Others
S.No. Name and Address partners / proprietors / CNIC Number Father / Husband Name Principal Markup Markup Markup Total Principal Markup Markup Markup Total
(Debited) (Undebited) (Total) (Debited) (Undebited) (Total)
directors (Debited) (Undebited) (Total) (Debited) (Undebited) (Total)
1 M/S Mehran Filling Station Aziz Ur Rehman 16102-5371249-3 Habib ur Rehman 1,720 - 1,299 1,299 - - - 3,019 - - 1,299 1,299 - - - 1,299
Malakand Road Sari Bahlol
Takht Bhai Distt Mardan
2 Al Abid Silk Mills Ltd Naseem A. Sattar 42301-0840043-1 Sheikh Abdul Sattar 550,026 - 53,304 53,304 - - - 603,330 550,026 - 53,304 53,304 - - - 603,330
A-39 Manghopir Road Azim Ahmed Sattar 42301-0912143-9 Naseem A. Sattar
S.I.T.E. , Karachi Qamar Mashkoor NA NA
Muhammad Sajid Hafeez NA NA
Mst. Adia Naseem 42301-0783384-4 Naseem A. Sattar
Mrs. Sadaf Nadeem 42301-0878886-8 Nadeem Younus
S. M. Jawad Azam 42201-8147445-3 Syed Muhammad Farooq
Azam
3 Blue Star Spinning Mills (1) Ch. Ijaz Safdar 31202-5578881-5 Ch. Safdar Hussain 276,407 28,267 36,551 64,818 - - - 341,225 276,407 28,267 36,551 64,818 - - - 341,225
Ltd (2) Ch. Qaiser Munir 31202-9087688-1 Ch. Munir Ahmed
1) H/ No. 10-A, Mohallah (3) Mst. Mahreen Safdar 31202-1632473-6 Ch. Qaiser Munir
Rehman Society (4) Ch. Fazal Ahmed NA Ch. Hukam Din
Bahawalpur. (5) Ch. Umair Hameed NA Ch. Abdul Hameed
2) 30 Km, Hasilpur Road, (6) Mrs. Jamila Safdar 31202-8253395-0 Ch. Safdar Hussain
Lal Sohanra Bawalpur (7) Ch. Faisal Munir 33100-3413361-5 Ch. Munir Ahmed
4 Genertech Pakistan Ltd (1) Jahangir Elahi, 35202-2561094-5 Sheikh Ehsan Elahi 154,429 - 184,702 184,702 - - - 339,131 154,429 - 184,702 184,702 - - - 339,131
49Km, Lahore- Multan (2) Tanvir Elahi NA NA
Road, Near Bhai Pheru, (3) Alamgir Elahi NA NA
District, Kasur (4) Aamir Jahangir 35202-0676798-7 Jahangir Elahi
(5) Ahmed Jahangir 35202-5010274-5 Jahangir Elahi
5 Jannat Industries Mushtaq Ahmed 35200-1435244-5 Muhammad Khan 148,751 - 6,276 6,276 - - - 155,027 148,751 - 6,276 6,276 - - - 155,027
Jannat House, Gojra Road, Akhtar Hussain 33202-1432066-3
Civil Line, Jhang Ashfaq M. Khan 33202-5959524-7
6 Saad Oriental Carpets Mian Ijaz-ur-Rehman 35202-3807763-3 Mian Abdul rehman 188,074 - 105,535 105,535 - - - 293,609 8,074 - 105,535 105,535 - - - 113,609
427-428, Block G-4, Johar Mian Anees-ur-Rehman 35202-9214582-7
Town, Lahore Mian Ateeq-ur-Rehman 35202-6803404-1
7 Nawaz Ghee & Oil Mills Ltd Al- Haj Rab Nawaz Khan 17301-6397377-1 s/o Mr. Nawaz Khan(late) 25,595 11,613 64,128 75,742 - - - 101,336 - 11,208 64,128 75,336 - - - 75,336
19- Islamia Club Building, Naveeda Nawaz 17301-0663158-2 w/o Rab Nawaz Khan
Khyber Bazar Peshawar Arbab Muhammad 17301-9669283-5 s/oHaji Rab Nawaz Khan
City Nawaz Khan(Late)
Plot # 115, L-5, Industrial Mrs. Mahmood
Estate, Gadoon Amazai, Begum(Late)
Peshawar
8 Bhatti Spinning Mills Pvt Muhammad Iqbal Bhatti 35202-7936106-1 35202- Muhammad Din Bhatti 61,800 - 49,101 49,101 - - - 110,901 7,300 - 49,101 49,101 - - - 56,401
Ltd Maqbool Ahmed Bhatti 7363588-3 35202- Muhammad Din Bhatti
4 Km, Raiwand Road Maqsood Ahmed Bhatti 3032294-1 35202-5703019- Muhammad Din Bhatti
Kausar Khalid Mehmood 7 Rehmat Ali
9 Fashionwear Pvt Ltd Waqar Haider Butt 42301-0978189-7 Ghulam Haider Butt 84,336 - 47,589 47,589 - - - 131,925 - - 46,925 46,925 - - - 46,925
F-200,S.I.T.E Karachi Saqib Haider Butt 42301-0705547-5 Waqar Haider Butt
Aamir Haider Butt 42301-0978190-7 Waqar Haider Butt
Ms. Munawar Jabeen 42301-0887543-2 Waqar Haider Butt
10 Qureshi Rice Mills 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
Jhat Pat Road, Usta
Muhammad

11 Kashir Textile Mils Tld Mian Zahid Aslam 33100-0613745-7 Mian M. Aslam 91,257 - 23,670 23,670 - - - 114,927 - - 23,670 23,670 - - - 23,670
Office No. 1, P-208, Tikka Mian Abid Aslam 33100-6916435-9 Mian M. Aslam
Gali No. 1, Yarn Market, Mian Hamid Aslam 33100-0641681-7 Mian M. Aslam
Faisalabad Imran Zahid 33100-5146568-5 Mian Zahid Aslam
Farhan Abid 33100-0164574-7 Mian Abid Aslam
Mst. Zaib-un-Nisa Hamid 33100-0615377-4 Mian Hamid Aslam
Usman Zahid 33100-0708998-9 Mian Zahid Aslam
12 Quality Export Mr. Atta-ul-Haq Siddiqui 42201-0374874-9 Muhammad Sadiq 31,756 - 19,647 19,647 - - - 51,403 - - 19,635 19,635 - - - 19,635
Inrternational
4/90 Sector 21, Korangi
Industrial Area Karachi
13 Chistia Sugar Mills Ltd Muhammad Masood Tahir 38403-2266601-9 Rab Nawaz 110,258 - 19,599 19,599 - - - 129,857 - - 19,599 19,599 - - - 19,599
187-A Scotch Corner, Faisal Jawad Bhatti 35202-2619201-3 Shakeel Mahmood Bhatti
Upper Mall, Lahore Rehmat Ali 35202-2916919-1 Muhammad Tufail
Waseem Qaiser Bhatti 35202-5501486-9 Ashiq Muhammad Bhatti
Rahat Shakeel Bhatti 35202-2463651-6 Shakeel Mahmood Bhatti
14 Dost Sons Cotton Mills Pvt Jamal Iftikhar 42301-0932772-3 Iftikhar Ahmed 13,000 - 19,279 19,279 - - - 32,279 - - 19,279 19,279 - - - 19,279
Ltd Zahid Iftikhar 42301-0932771-9 Iftikhar Ahmed
101, Chappal Plaza,
Hasrat Mohani Road
Karachi
15 Plastic Pack Pvt Ltd Dr. Ishtiaq Ahmed 42201-8219476-9 Lal Hussain 3,400 704 12,526 13,230 - - - 16,630 3,400 704 12,526 13,230 - - - 16,630
3 & 4, Society Apartment, Arshad Javaid Khawaja 246-49-330486 Muhammad Sanaullah
1St Floor, P.E.C.H.S. Rehmatullah Ghouri 517-27-266558 Khawaja
Block-2, Karachi Muhammad Shabbir Dr. Asadullah Khan Ghouri
Chaudhry
16 Chevrolet Johar Town Mian Saeed-ur-Rehman 35202-1039847-7 Mian Abdul rehman 28,500 - 16,359 16,359 - - - 44,859 - - 16,359 16,359 - - - 16,359
Motors
410, G-Iv, Ma Johar Town
Lahore
17 Sartaj Polysacks Noman Kabir 35202-3963932-7 Mian Abdul Kabir 102,191 - 8,180 8,180 - - - 110,371 4,999 - 8,180 8,180 - - - 13,179
132/3, Industrial Area, Kot
Lakhpat Lahore
18 New Al-Hilal Corporation 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
5.5 Km, Raiwind Road,
Tokhar Niaz Baig, Lahore
19 Travel Tips International Abdul Rehman 35202-7003352-5 35202- Fazal-ur-Rehman 977 - 5,628 5,628 - - - 6,605 977 - 5,628 5,628 - - - 6,605
714-Kamran Block, Allama Tahir Rehman 5571794-1 35202-5800586- Fazal-ur-Rehman
Iqbal Town Lahore Mrs. Shaheen Rehman 8 276-52-442960 Abdul Rehman
Mrs Musarat Zia-ul-Islam Zia-ul-Islam
20 Texto Products Pvt Ltd Muhammad Irshad M.Tahheed 2,713 1,586 1,921 3,508 - - - 6,221 2,713 1,586 1,921 3,508 - - - 6,221
16-Noor Estate, Shahrah-E- Mrs. Ishrat Jahan
Faisal Karachi Muhammad Shamshad
Mrs. Alamgirah
Mrs. Jehan Tab
21 Arsel Enterprises Rao Naveed Akhter 35202-2915061-5 Habib Khan 42,000 - 5,476 5,476 - - - 47,476 - - 5,476 5,476 - - - 5,476
10 Commercial Zone, Rao Mubarik Ali 35202-2925163-9 Habib Khan
Dubai Chowk Ait Lahore
22 Amira Textile (Pvt) Ltd Muhammad Akram Khan 35201-2815241-9 Abdul Raheem 39,502 - 5,216 5,216 - - - 44,718 - - 5,215 5,215 - - - 5,215
Off Manga Road, Riwind, Shahid Akram Khan 35201-0669574-5 M. Akram Khan
Lahore Faisal Akram Khan 35201-0666582-6 M. Akram Khan
Amira Akram Khan 35201-3256067-4 M. Akram Khan
23 M. Iqbal Construction Rao Muhammad Shakeel 42000-0561720-9 Rao Muhammad Iqbal 7,500 - 4,349 4,349 - - - 11,849 - - 4,149 4,149 - - - 4,149
Company (Pvt) Ltd. Iqbal Rao Muhammad Iqbal
C-28 Sector 11-B, North Rao Muhammad Khaleel
Karachi Iqbal

24 Computer Touch Rana Nadeem Hussain 35201-9555048-9 Rana Ghullam Hussain 9,000 - 3,890 3,890 - - - 12,890 - - 3,890 3,890 - - - 3,890
Suit # 16, Third Floor, Rana Mubeen Hussain 35201-9544693-9 Rana Ghullam Hussain
Hafeez Center Gulberg
Lahore
25 Usman Medicine Co. Ishtiaq Ahmed Bhatti 36302-0477517-5 Allah Datta Bhatti 4,107 - 3,589 3,589 - - - 7,697 - - 3,447 3,447 - - - 3,447
Police Line Road Multan
26 Mughal International Mirza Shafqat Javed 17301-1412381-1 Mirza Abdul Wadadood 3,500 - 3,123 3,123 - - - 6,623 - - 3,123 3,123 - - - 3,123
House No.137, Gali No.13,
Gulbahar No.2, Peshawar
City, Peshawar
27 Faridia Tradres Mr. Shahid Ahmad 36502-7652185-3 Muhammad Boota 6,250 - 3,248 3,248 - - - 9,498 - - 3,098 3,098 - - - 3,098
Ghallan Mandi Main Bazar
Sahiwal
28 Abdul Mannan Abdul Mannan 16202-4547324-5 Shah Randaan 917 - 3,262 3,262 - - - 4,179 - - 3,079 3,079 - - - 3,079
Moh Taous Khel Maneri
Payan P.O Tehsil &
District, Swabi
29 Irfan Steel Muhammad Irfan 35202-73434901-1 Muhammad Mushtaq 30,000 - 3,043 3,043 - - - 33,043 - - 3,043 3,043 - - - 3,043
H # 14, St # 67, Elahi Park,
Misri Shah, Lahore
30 Teejays Exclusive (Pvt) Tanveer Jamshed Jamshed Alam 675 2,246 - 2,246 - - - 2,921 575 2,246 - 2,246 - - - 2,821
Ltd.
37-T Block-6, Pechs,
Karachi
31 Ramzan & Co. 2,596 - - - - - - 2,596 2,596 - - - - - - 2,596
32 Azeem Rice Mills Fazal Ahmed 35404-2028827-5 M. Ibrahim 34,000 - 2,593 2,593 - - - 36,593 - - 2,593 2,593 - - - 2,593
Faisalabad Road, Near Khadim Hussain 35404-1561484-7 M. Ibrahim
Bye Pass Chowk, Qamar Naeem 35404-2416930-5 Fazal Ahmed
Sheikhupura Sakhi Muhammad 35404-8705849-7 Khadim Hussain
Anjum Nadeem 35404-0845118-9 Fazal Ahmed
33 Wahid Engineering Abdul Waheed 33102-1768635-9 Abdul Wahid 8,000 - 2,569 2,569 - - - 10,569 - - 2,569 2,569 - - - 2,569
Oden Street, Samandari
Road, Faisalabad
34 Kraftsman Associates Ali Ameer Shaikh 35201-8879857-9 Mumtaz Manzoor 1,009 1,009 393 1,402 - - - 2,411 1,009 1,009 393 1,402 - - - 2,411
51-D, Commercial Area "A" Ali Tanveer Shaikh
Defence Market, Karachi Ali Jawaid Shaikh
Mrs. Qurrat Rizvi
Mrs. Nazia Shaikh
Mrs. Surraya Mumtaz
35 Al Rasheed Petrolium Sardar Noman Sher 32103-5199299-7 3,000 - 2,664 2,664 - - - 5,664 - - 2,351 2,351 - - - 2,351
Khewat No.99 Mouza Qaisrani 35201-3398036-1
Dhomra Shumali Tehsil Sardar Numair Khan
Tounsa Distt.D.G.Khan Qaisrani
36 Al Rasheed Cotton Sardar Salman Sher 35201-9945895-7 7,187 - 2,242 2,242 - - - 9,429 - - 2,242 2,242 - - - 2,242
Khewat No.99 Mouza Qaisrani 35201-8872539-0
Dhomra Shumali Tehsil Mst.Asia Salman 36302-3635521-9
Tounsa Distt.D.G.Khan Sardar Imran Sher Khan 32103-5199299-7
Sardar Noman Sher
37 Nizam Impex Essa Abdullah 42201-1186759-5 Abdullah 1,970 239 - 239 - - - 2,209 1,970 239 - 239 - - - 2,209
63, Pma Building, Nicol Muhammad Aslam 42301-5995980-5 Essa Abdullah
Road, Karachi Muhammad Amin 501-51-044246 A. Rahman
313, Chapal Plaza, 3Rd Muhammad Saleem 42201-9038990-3 A. Rahman
Floor, Hasrat Mohani Muhammad Iqbal 42201-9529086-7 A. Rahman
Road, Karachi M. Arif A. Rahman
38 Shafi Uddin Shafiq Shafi Uddin Shafique 35202-4633941-5 Salahuddin Ghazi 5,660 - 1,995 1,995 - - - 7,655 - - 1,925 1,925 - - - 1,925
183-C, Gulshan Ravi
Lahore
39 Shakeel Rice Dealer Shabbir Ahmed 34101-2476426-3 Bashir Ahmed 5,000 - 1,998 1,998 - - - 6,998 - - 1,898 1,898 - - - 1,898
Ghalla Mandi, Qila Didar Amjad Shakeel 34101-2424650-1 Habib Ahmed
Singh, Gujranwala.

40 Shan Agro Chemicals Muhammad Ajaz 36603-2213761-1 Muhammad Mukhtar 740 - 2,354 2,354 - - - 3,094 - - 1,894 1,894 - - - 1,894
57-B Grain Market Vehari Mst.Farhat Naseem 36603-5376210-4 Muhammad Ajaz
Abdul Rauf 36603-4543941-1 Abdul Latif
Mirza Ijaz Baig 36603-1372140-1 Mirza Abdul Hayee
41 Nauman Sadiq News Mahmood Sadiq 35201-3651617-9 Ghulam Sadiq 4,500 - 1,896 1,896 - - - 6,396 - - 1,796 1,796 - - - 1,796
Publication Pvt Ltd Uzma Sadiq 35201-5809407-2 Mahmood Sadiq
15-L, Gulberg Iii, Lahore
42 Abdul Salam Cold Storage Mr. Abdul Salam 35202-2881087-1 Haji Muhammad Yaqoob 24,500 - 1,679 1,679 - - - 26,179 - - 1,679 1,679 - - - 1,679
Mouza Mehmood Booti
Bund Road, Lahore
43 Syed Ahsan Ali Syed Ahsan Ali 42101-9531222-9 Syed Ale Ali 3,033 - 1,766 1,766 - - - 4,799 - - 1,599 1,599 - - - 1,599
Flat # C-2, Rabia Gardens
Block-17, Gulsitan-E-
Jauhar Karachi
44 Tariq & Conmpany Abdul Rab Rind 53404-9323490-3 Ghulam Sarwar Khan Rind 5,008 - 1,537 1,537 - - - 6,545 - - 1,537 1,537 - - - 1,537
Aliabad Road, Usta
Muhammad, District
Jafferabad, Balochistan
45 Muhammad Mushtaq Muhammad Mushtaq 35202-9123076-9 Muhammad Ibrahim 15,000 - 1,520 1,520 - - - 16,520 - - 1,520 1,520 - - - 1,520
H # 14, St # 67, Elahi Park,
Misri Shah, Lahore
46 Zia Sports (Pvt) Ltd. Sh. Arif Mahmood 34603-2266624-7 Sh. Muhammad Fazal 23,834 - 1,460 1,460 - - - 25,294 - - 1,460 1,460 - - - 1,460
Karimpura Opposite Dar Ul Sh. Khurram Khalid 34603-3692092-1 Sh. Khalid Mahmood
Shafqat, Maharaja Road, Sh. Usman Arif 34603-2278366-1 Sh. Arif Mahmood
Sialkot
47 Cheema Iron Store Muhammad Naseem 34104-1947672-9 Muhammad Sharif 4,000 - 1,397 1,397 - - - 5,397 - - 1,397 1,397 - - - 1,397
Kalaske, Tehsil
Wazirabad, District
Gujranwala
48 Rizwan Commission Shop Muhammad Ishaq 35202-6068994-7 Muhammad Ismaeel 2,700 - 1,592 1,592 - - - 4,292 - - 1,361 1,361 - - - 1,361
Ghalla Mandi Jattan, Mrs. Tabasum Ishqa 35202-1574924-4 Muhammad Ishaq
Faizabad Mrs. Saleem Akhtar 35202-2746259-6 Muhammad Hussain
Kinan Arshad 35402-0908312-7 Muhammad Arshad
Muhammad Asghar 35501-0114139-9 Muhammad Siddique
49 Mohiuddin Khan Mohiuddin Khan 1,330 5 - 5 - - - 1,335 1,330 5 - 5 - - - 1,335
50 Pakistan Tarding Zawar Hussain 35402-9279453-5 475 - 1,950 1,950 - - - 2,425 - - 1,225 1,225 - - - 1,225
Ali Madad Rice Mill, Mandi Alamdar Hussain 35402-9375308-5
Faizabad, Thesil & District
Nankana
51 Abdul Khalique Abdul Khalique 763 410 - 410 - - - 1,173 763 410 - 410 - - - 1,173
52 Masood Ur Rehman Khan Masood Ur Rehman Khan 820 347 - 347 - - - 1,166 820 347 - 347 - - - 1,166
D-38, Block-8, Gulshan-E-
Iqbal, Karachi
53 Wajid Salahuddin Wajid Salahuddine 42101-9531222-9 Muhammad salahudine 2,031 - 1,230 1,230 - - - 3,260 - - 1,160 1,160 - - - 1,160
Flat # 201, 2Nd Floor, Al-
Rehman Arcade, Sector 11-
C/2, North Karachi
54 Okara Gas Appliances Co. Rao Muhammad Iqbal 35302-2879491-1 Rao Khurshid Ali 3,000 - 1,254 1,254 - - - 4,254 - - 1,024 1,024 - - - 1,024
House No. 4, Mehboob
Town G.T Road Okara
55 Muzafar Hussain Hydri Muzafar Hussain Hydri 992 - - - - - - 992 992 - - - - - - 992

56 Muhammad Yousuf M. Yousuf Umer Bhai 899 88 - 88 - - - 987 899 88 - 88 - - - 987

Memon
1) Plot # F/36/5, Block-8,
Clifton, Karachi
2)63-B, Block-A, Adamjee
Nagar, Khatiawar Co-
Operative Housing
Society, Karachi.
57 Rehman Trading Muhammad Kamran 322-77-963813 Muhammad Ali Siddiqui 11,499 - 985 985 - - - 12,484 - - 984 984 - - - 984
2155 A/A, Ward No. X, Siddiqui 322-80-858291 Muhammad Ali Siddiqui
Humayun Road, Muhammad Rizwan
Near Chungi No.9 Multan. Siddiqui
58 Textech Khalid Zaheer 798 158 - 158 - - - 956 798 158 - 158 - - - 956
17/3, Luxmi Building, M.A.
Jinnah Road, Karachi.
59 Malik M Akram Malik M Akram 925 - - - - - - 925 925 - - - - - - 925

60 Abid Hussain Abid Hussain 887 - - - - - - 887 887 - - - - - - 887
61 Abdul Razzak Abdul Razzak 885 - - - - - - 885 885 - - - - - - 885
62 Waseem Brothers Muhammad Waseem 36402-0774755-1 SHEIKH SHOUKAT ALI 2,701 - 885 885 - - - 3,586 - - 885 885 - - - 885
House No. 889/Biii, Street
No. 1 Mohallah Islam
Colony Pakpattan
63 Kasim Corp . Haji Abdul Aziz 42201-0405761-7 Kasim 515 347 - 347 - - - 862 515 347 - 347 - - - 862
154/A Gali No. 12
Shershah Kyc.
1/6/A Block 6, Pechs, Kyc.
64 Mughal Plywood & Flush Muhammad Aslam 36502-9792069-5 Khair Din 1,067 - 858 858 - - - 1,925 - - 857 857 - - - 857
Door Industries Muhammad Akram 36502-8998039-5 Khair Din
13-Km Arifwala Road Muhammad Ikram 36502-1803094-3 Khair Din
Sahiwal
65 Muhammad Iqbal Chishti Muhammad Iqbal Chishti 846 - - - - - - 846 846 - - - - - - 846
66 Liaquat Ali Khan Liaquat Ali Khan 805 29 - 29 - - - 834 805 29 - 29 - - - 834
67 Amin & Co. Muhammad Amin 34104-8870501-7 Nasar Ullah Cheema 5,000 - 824 824 - - - 5,824 - - 824 824 - - - 824
Ghalla Mandi, Kalaske,
Tehsil Wazirabad, District
Gujranwala
68 Shahab Rice Mills Irfan Ali Noor 35202-7320984-9 Noor Muhammad 13,200 - 801 801 - - - 14,001 - - 801 801 - - - 801
34-Km, Multan Road,
Lahore
69 Uni Co Tading Co Akbar Ali 42201-0782490-1 Ghulam Hussain 665 134 - 134 - - - 800 665 134 - 134 - - - 800
77/C, Dh, 1St Floor, Main Abdul Rashid Memon 501-50-257478
Korangi Road, Karachi
70 Muhammad Ali Siddique Muhammad Ali Siddique 654 138 - 138 - - - 792 654 138 - 138 - - - 792
71 Gss Trading Company Muhammad Gulzar 35202-3234146-3 Sheikh Abdul Ghani 7,000 - 791 791 - - - 7,791 - - 791 791 - - - 791
25-Hide Market, Sheikh Sheraz Ahmad 35202-6051316-3 Muhammad Gulzar
Sultanpura Road, Lahore. Sajjad Ahmad 35202-0608407-3 Muhammad Gulzar
H # 86-87 St # 13 Jinnah
Park Sultan Pura, Lahore
72 Shams Corp. Shahnaz Begum Masood Ahmed 764 - - - - - - 764 764 - - - - - - 764
D-7, 3Rd Floor,Blessing
Apartment, 1-B-2,
Nazimabad, Karachi
73 Farooq Ahmed Farooq Ahmed 35202-0608841-7 Abdul Qayum 1,830 - 1,030 1,030 - - - 2,860 - - 760 760 - - - 760
84-B/1, Ghalib Market,
Gulberg-Iii, Lahore

74 Saleem Akhtar Saleem Akhtar 759 - - - - - - 759 759 - - - - - - 759

75 Assr Traders Azad Pervaiz Butt 35202-2532425-5 Muhammad Abdullah Butt 2,961 - 791 791 - - - 3,752 - - 752 752 - - - 752
House # 421 Block-J Johar
Town, Lahore.
76 Rasheed Ahmed Rasheed Ahmed 723 4 - 4 - - - 727 723 4 - 4 - - - 727
77 M.Sabir Govt Contractor Muhammad Sabir 36502-1351625-9 405 - 713 713 - - - 1,118 - - 713 713 - - - 713
House # 363, B-4 Ansar
Road Sahiwal
78 Tridul Corporation Abdullah A. Badat. 710 - - - - - - 710 710 - - - - - - 710

4Th Floor, Karachi House, M. Aslam Khan
I.I. Chundrigar Road, Baqi Mohammadally.
Karachi Iqbal Akram
79 Salman & Company Yasmeen Sadruddin 684 - - - - - - 684 684 - - - - - - 684
Room No. 30/31, Rafai
Mrkaz Jodia Bazar Karachi
80 Shafqat Ali Fayyaz Shafqat Ali Fayyaz 600 80 - 80 - - - 680 600 80 - 80 - - - 680
81 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 - - - - - - 673
83 Habib Ashraf Habib Ashraf 617 33 - 33 - - - 650 617 33 - 33 - - - 650
84 Saima Corp. Irfan 516-90-374214 Muhammad Arif 647 - - - - - - 647 647 - - - - - - 647
316 Sabir Manzil, 3Rd
Floor, Near Garden
Cinema, Marston Road,
Karachi
85 Niaz Muhammad Shah Niaz Muhammad Shah 622 - - - - - - 622 622 - - - - - - 622
86 Irfan Iftikhar Malik Irfan Iftikhar Malik 35202-7968964-5 Iftikhar Hussain Malik 9,999 - 611 611 - - - 10,610 - - 610 610 - - - 610
Godown # 9-A, Rahim
Road, Misri Shah, Lahore
87 Feroz Ali Khoja Feroz Ali Khoja 603 - - - - - - 603 603 - - - - - - 603
88 Master Quran Company Muhammad Saeed 35202-9477438-5 Maula Baksh 6,000 - 603 603 - - - 6,603 - - 603 603 - - - 603
38 Urdu Bazaar Lahore
89 Baghdad Corporation Zahoor Ahmad 31303-2435849-3 Nazir Ahmad 944 - 897 897 - - - 1,841 - - 601 601 - - - 601
Bahawalpur
90 Sandhal Cotton 600 - - - - - - 600 600 - - - - - - 600
91 Nayyar Perveen Nayyar Perveen 575 - - - - - - 575 575 - - - - - - 575
92 K S G Mohiuddin & Sons Ghulam 570 - - - - - - 570 570 - - - - - - 570
652, Bombay Bazar,
Karachi
93 Habib Ashraf Habib Ashraf 565 - - - - - - 565 565 - - - - - - 565

94 Pak Extbition Corp 563 - - - - - - 563 563 - - - - - - 563
95 Hanif A Sattar Hanif A Sattar 557 - - - - - - 557 557 - - - - - - 557
96 M. Ashraf A Habib M. Ashraf A Habib 556 - - - - - - 556 556 - - - - - - 556
97 Ifra Seema Fatima Ifra Seema Fatima 554 - - - - - - 554 554 - - - - - - 554
98 Khairul Bashar Khairul Bashar 540 - - - - - - 540 540 - - - - - - 540
99 Sandad Shoes 503 35 - 35 - - - 538 503 35 - 35 - - - 538
100 Beco Engineering Muhammad Dawood Asad 34101-2709841-1 Asad Ullah 904 - 641 641 - - - 1,544 - - 537 537 - - - 537
G.T Road, Gujranwala
101 Sheikh Enterprises Asif A. Shaikh 533 - - - - - - 533 533 - - - - - - 533
Mubarak Manzil, Jamshed
Road, Karachi
102 Paramount Toys 532 - - - - - - 532 532 - - - - - - 532
103 Azam Sports Muhammad Azam 35201-2815241-9 Muhammad Hussain 1,500 - 531 531 - - - 2,031 - - 531 531 - - - 531
6-A Venus Housing
Scheme Saroba
Gardens,17-Km Ferozepur
Road Lahore
104 Khurshid Ali Khurshid Ali 523 - - - - - - 523 523 - - - - - - 523

105 Mohammad Haroon Mohammad Haroon 511 - - - - - - 511 511 - - - - - - 511

31, Nawab Manzil,
Adamjee Budda Bhai
Road, Tahtae Compound,
Karachi
106 Cannon Associate Engg Co 504 - - - - - - 504 504 - - - - - - 504
107 Mughal Agro Services 500 - - - - - - 500 500 - - - - - - 500

108 Haji Javed Ahmed Haji Javed Ahmed 36203-6815365-7 Haji Atta Muhammad 364 106 - 106 - - - 470 364 141 - 141 - - - 505
Mouza Mujaldi Wala Tehsil
& District Lodhran
109 Ghulam Murtaza Ghulam Murtaza 36402-6329471-7 Hakim Ghulam Muhammad 399 87 - 87 - - - 486 399 124 - 124 - - - 524
Adda Noor Pur Tehsil
Pakpattan
110 Muhammad Akram Chishti Muhammad Akram Chishti 35301-7299098-9 Aish Muhammad 351 141 - 141 - - - 493 351 175 - 175 - - - 526
Mouza Chishti Qutab Din
Po Basirpur Tehsil
Depalpur
111 Muhammad Munir Khan Muhammad Munir Khan 31102-1917435-3 Muhammad Nawaz Khan 323 185 - 185 - - - 508 323 216 - 216 - - - 539
Basti Nooran Mouza Mahru
Baloch Po Dula Bahadar
Tehsil Chishtian, Distt
Bahawalnagr
112 Kabeer Ahmad Kabeer Ahmad 35302-5109146-1 Abdul Sattar 350 167 - 167 - - - 517 350 200 - 200 - - - 550
Chak 6/1 R Renalakhurd
113 Nazar Ahmad Nazar Ahmad 36301-0970914-7 Haji Khuda Bux 305 220 - 220 - - - 525 305 249 - 249 - - - 554
Ghaloo Nagar Sabra Tehsil
Jalalpur Pirwala District
Multan
114 Bashir Ahmad S/O Bashir Ahmad S/O 35301-1974423-7 Fazal Muhammad 356 184 - 184 - - - 541 356 218 - 218 - - - 575
Mouza Chishti Qutab Din
Basirpur
115 Muhammad Rafique Muhammad Rafique 33201-1654991-3 Ahmad Ali 350 198 - 198 - - - 548 350 231 - 231 - - - 581
Chak No 131 Jb,
Faisalabad
116 Khalid Nawaz Khalid Nawaz 34104-2304927-5 Muhammad Malik 350 199 - 199 - - - 549 350 232 - 232 - - - 582
Vill & P.O Dad Wali Sharif
Teh: Wazirabad Dist:
Gujranwala
117 Muhammad Yousaf So Muhammad Yousaf 35403-1170980-5 Sardar Khan 400 378 - 378 - - - 778 400 189 - 189 - - - 589
Sardar Khan
Chak# 285 Rb, Rangar
Nangal, P.O Same, Tehsil
Safderabad, District
Nankana Sahib
118 Abdul Karim Abdul Karim 44103-0310976-1 Haji Wahid Bux 450 99 - 99 - - - 549 450 142 - 142 - - - 592
Village Haji Wahid Bux
Keeio, P.O & Taluka
Mirpur Khas
119 Mrs. Amlan W/O Akber Mrs. Amlan 44107-5340899-4 Akbar 343 226 - 226 - - - 569 343 259 - 259 - - - 601
Akbar House Samejo
Ward No 310 B Umerkot
120 Muhammad Alam S O Muhammad Alam 35404-9200049-1 Sanaullah 345 517 - 517 - - - 862 345 258 - 258 - - - 603
Sanaullah
Choorrhi Daal, P.O
Manawala, Tehsil &
District Sheikhupura
121 Tahir Muqaddas Tahir Muqaddas 35101-1991620-9 Muhammad Ashiq 445 130 - 130 - - - 575 445 172 - 172 - - - 617
Diyo Sial Tehsil Chunian
Distt Kasure

122 Abdul Rauf Khan Abdul Rauf Khan 36602-4309464-1 Haji Muhammad Anwar 400 190 - 190 - - - 590 400 228 - 228 - - - 628
Chak 110 Wb Tehsil Mailsi Khan
123 Zuharan Bibi W/O Abdul Zuharan Bibi 31303-9366201-4 Abdul Khaliq 400 190 - 190 - - - 590 400 228 - 228 - - - 628
Khaliq
Chak # 6/G Tehsil
Chishtian District
Bahawalnagar
124 Asghar Ali Asghar Ali 31104-1755744-1 Ahmad Din 416 191 - 191 - - - 607 416 229 - 229 - - - 645
Chak # 122/6-R
Haroonabad District
Bahawalnagar
125 Pervaiz Pervaiz 35301-6657214-3 Abdul Khaliq 500 108 - 108 - - - 608 500 155 - 155 - - - 655
Bonga Sahby Ka Mandi
Ahmad Abad Tehsil
Depalpur
126 Abdul Hamid Abdul Hamid 32202-2538689-5 Awan 350 279 - 279 - - - 629 350 310 - 310 - - - 660
Ward No. 3 Fateh Pur,
Tehsil Karor, Distt. Layah
127 Zubaida Khanam Zubaida Khanam 34104-3257386-6 Sanaullah 400 228 - 228 - - - 628 400 266 - 266 - - - 666
Lala Zar Colony Tehsil
Wazirabad Distt.
Gujranwala
128 Muhammad Akram Naro Muhammad Akram Naro 34301-2286220-9 Atta Muhammad 396 264 - 264 - - - 660 396 301 - 301 - - - 698
Chak 549/Eb Po 477/Eb
Tehsil Vehari
129 Muhammad Yar S/O Ellahi Muhammad Yar 36203-1795051-9 Elahi Bux 410 250 - 250 - - - 660 410 291 - 291 - - - 701
Mohallah Kalarwal P/O
Chamb Kulyar Tehsil And
District Lodhran
130 Fazal Ellahi Fazal Ellahi 36402-5154821-3 Muhammad Saddique 399 265 - 265 - - - 664 399 303 - 303 - - - 702
Chak Alwardi Khan Po
Bonga Hayat Tehsil
Pakpattan
131 Shahzad Hanif Shahzad Hanif 33103-3206741-7 Muhammad Hanif 400 227 - 227 - - - 627 400 303 - 303 - - - 703
Chak No:6 J.B. Tehsil&
Distt Faisalabad
132 Muhammad Akram Muhammad Akram 45402-9998557-1 Rasool Bux 450 241 - 241 - - - 691 450 284 - 284 - - - 734
Ward # 4, Jamali Road
Daur, P>O & Taluka Daur
Dist Nawab Shah
133 Khalid Hussain S/O Khalid Hussain 36602-3103465-3 Rehmat Khan 474 225 - 225 - - - 699 474 270 - 270 - - - 744
Rehmat Khan
Chak 126/Wb Tehsil Mailsi
134 Muhammad Arshad S/O Muhammad Arshad 36203-3233074-3 Jamshed Ali 450 256 - 256 - - - 706 450 298 - 298 - - - 748
Jamshed Al
Ward # 11 Tehsil And
District Lodhran
135 Mian Khan Mian Khan 33104-2073513-3 Ismail Khan 450 256 - 256 - - - 706 450 299 - 299 - - - 749
Chak No 435Tehsil
Jarawaladistt. Faisalabad
136 Ahmad Yar Ahmad Yar 36502-1054859-7 Agra 450 256 - 256 - - - 706 450 299 - 299 - - - 749
Mouza Chena Karmali
Sahiwal
137 Mohmmad Anwar S/O Mohmmad Anwar 35302-8043477-3 Barkat Ali 631 62 - 62 - - - 694 631 122 - 122 - - - 753
Barkat Ali
House No 74 Street 2
People Colony Okara

138 Faraz Ahmad Khan Faraz Ahmad Khan 35404-5510593-1 Munir Ahmad Khan 469 600 - 600 - - - 1,069 469 300 - 300 - - - 769
Khan House,Qila Shabdav
Singh P.O Manawala
Tehsil And District
Sheikhupura
139 Murshid Ali S/O Jamshed Murshid Ali 36203-1297182-3 Jamshed Ali 470 264 - 264 - - - 734 470 308 - 308 - - - 778
Ali
Ward # 11 Tehsil And
District Lodhran
140 Muhammad Akbar Muhammad Akbar 35401-2707612-1 Muhammad Saleem 475 617 - 617 - - - 1,092 475 308 - 308 - - - 783
Village Kot Pindidas P.O
Same Tehsil Ferozewala
District Sheikhupura
141 Zulfiqar Ali Allah Din Zulfiqar Ali Allah Din 35101-5055443-9 Muhammad Amin 500 238 - 238 - - - 738 500 285 - 285 - - - 785
Jhoke Balochan Deo Sial
Tehsil Chunain Distt Kasur
142 Zubaidan Perveen W/O Zubaidan Perveen 36602-8960601-0 Ghulam Mustafa 475 271 - 271 - - - 746 475 316 - 316 - - - 791
Ghulam
Mouza Mitroo Tehsil Mailsi
143 Muhammed Madni Muhammed Madni 31201-3020761-5 Nazar Muhammad 495 291 - 291 - - - 786 495 338 - 338 - - - 833
Basti Abdul Aziz Mouza
Chah Narang P/O Chah
Loharan Tehsil Ahmad Pur
East District Bahawalpur
144 Ch.Abdul Majeed Ch.Abdul Majeed 31201-5034735-7 Ch. Barkat Ali 430 380 - 380 - - - 810 430 421 - 421 - - - 851
House # 71 Mohallah
Shadman Colony Ahmad
Pur East District Bahwalpur
145 Muhammad Anwar Chohan Muhammad Anwar Chohan 36502-3895013-1 Bagh Din 608 231 - 231 - - - 839 608 288 - 288 - - - 896
Chak 97/9L Tehsil Sahiwal
146 Tasaddiq Hussain Alias Tasaddiq Hussain Alias 36502-0887551-3 Ch Mukhtar Ahmad 920 - - - - - - 920 907 - - - - - - 907
House No 509/J Fareed
Town Sahiwal
147 Suleman Ahmad P/A Suleman Ahmad 32103-6688243-9 Manzoor Ahmed 450 427 - 427 - - - 877 450 467 - 467 - - - 917
Ashfaq Ahmad
Dha. House No.81-C,
Phase 01,Lahore Cantt
148 Talib Hussain & Nasir Talib Hussain Nasir 36602-9900663-1 Mulazam Hussain 725 145 - 145 - - - 870 725 213 - 213 - - - 938
Hussain Hussain
Mouza Zohr Kot Po
Karmpur Tehsil Mailsi
149 Ghuman Dairy Farm Akbar Ali 34104-2311278-3 599 285 - 285 - - - 884 599 342 - 342 - - - 941
Village Rana Tehsil
Wazirabad Distt.
Gujranwala
150 Atta Hussain Khan S/O Atta Hussain Khan 36602-7129028-5 Kareem Khan 670 307 - 307 - - - 977 670 370 - 370 - - - 1,040
Karim
Mouza Mahni Po Dakota
Tehsil Mailsi
151 Muhammad Zafar Muhammad Zafar 31203-5171999-3 Muhammad Latif 700 376 - 376 - - - 1,076 700 443 - 443 - - - 1,143
Mohallah Abbubakar Hasil
Pur Old Bahwalpur
152 Mushtaq Ahmad Mushtaq Ahmad 36201-7107362-9 Khan Muhammad 700 399 - 399 - - - 1,099 700 465 - 465 - - - 1,165
Chak # 360/Wb P/O Same
Lodhran

153 Ali Imran Ali Imran 36401-4394786-7 Ahmad Yar 700 464 - 464 - - - 1,164 700 530 - 530 - - - 1,230
Chak Hama Rath Tehsil
Arifwala
154 Falak Sher Falak Sher 33104-4483070-1 Rehmatullah 900 513 - 513 - - - 1,413 900 598 - 598 - - - 1,498
Chak No. 238/Gb Tehsil
Jaranwala Distt Faisalabad
155 Muhammad Muhammad Din 31101-7292425-1 Imam Din 1,000 570 - 570 - - - 1,570 1,000 665 - 665 - - - 1,665
Din&Muhammad Ramzan Muhammad Ramzan
Roda Singh P/O Khas
Haroonabad District
Bahwal Nagar
156 Shahid Bashir Shahid Bashir 35202-2702691-7 Bashir Ahmed 2,122 938 - 938 - - - 3,059 2,122 1,091 - 1,091 - - - 3,213
82-B,Tipu Block,New
Garden Town,Lahore
157 Ghulam Fareed Khan Ghulam Fareed Khan 36302-0403377-3 Muhammad Sharif Khan 600 1,331 - 1,331 - - - 1,931 - 1,001 - 1,001 - - - 1,001
Khakwani Khakwani
Shareef Manzil Kutcheri
Road Multan
158 Muhammad Nasir Khan Muhammad Nasir Khan 31102-6085793-5 Abdul Jabbar Khan 3,229 1,653 - 1,653 - - - 4,882 - 1,653 - 1,653 - - - 1,653
Bakshan Khan P/O Same
Tehsil Chishtian
159 Muhammad Ramzan Muhammad Ramzan Sheikh M. Yousef 90,432 56,793 - 56,793 - - - 147,225 - 6,726 - 6,726 - - - 6,726
Sheikh Sheikh
42-S Dha Lahore Cantt.
Pakistan
160 Amir Hossein Tabarra Amir Hossein Tabarra Hamid Tabarra 124,043 5,776 - 5,776 - - - 129,819 3,962 - - - - - - 3,962
H. No 85, Pasdaran Ave.
2Nd Gulistan, Tehran, Iran
161 Masoud Abdar Esfahani Masoud Abdar Esfahani Rasoul Esfahani 46,853 48,361 - 48,361 - - - 95,213 46,883 49,647 - 49,647 - - - 96,530
H.No 74, Exfani Ave.
Morahari Street.Isfahan,
Iran
162 Payam Rahim Doustdar Payam Rahim Doustdar Rahim Doustdar 54,952 28,105 - 28,105 - - - 83,057 14,535 32,177 - 32,177 - - - 46,712
H.No 2287 Vila, Sanbazan
Street, Shahrak
Zhandermer, Tehran Iran.
163 Hassan Majeed Hassan Majeed Abdul Majeed 58,257 32,885 - 32,885 - - - 91,142 11,201 38,247 - 38,247 - - - 49,448
12 B, Korangi Road, Phase
1, Dha , Karachi , Pakistan
164 Saidazahan Sameullakh Saidazahan Sameullakh 57,181 13,964 - 13,964 - - - 71,145 57,171 13,965 - 13,965 - - - 71,136
H. No 115, Building-Ss,
Street Flatwa, Odesa,
Ukarine.
165 Heshmat Malekzadeh Heshmat Malekzadeh Abdol Hussain 281,256 132,803 - 132,803 - - - 414,058 281,267 163,562 - 163,562 - - - 444,828
H. No 12, Izad Alley Safa
Street, Qhiytariye, Tehran,
Iran
166 Ary Traders Haji Abdul Razzak 156,465 657,210 - 657,210 - - - 813,675 116,565 714,353 - 714,353 - - - 830,918
P.O. Box 1123, Dubai, Haji Muhammad Iqbal
United Arab Emirates.
167 M/S Hanover Int’L Trading Abdul Rehman Bin - 13,595 - 13,595 - - - 13,595 - 15,761 - 15,761 - - - 15,761
Llc Mohammad
P.O. Box 24309, Sharjah Ashraf Langalath
United Arab Emirates. Razzak Langalath

168 Muhammad Saleem Butt Muhammad Saleem Butt 964 - - - - - - 964 935 - - - - - - 935
P.O.Box: 19204 Al Ain,
U.A.E
169 Yolanda Comia Ginete Yolanda Comia Ginete 671 - - - - - - 671 671 - - - - - - 671
P.O. Box 15258 Al Ain
U.A.E
170 Javed Iqbal Ghulam Javed Iqbal Ghulam 646 - - - - - - 646 646 - - - - - - 646
P.O. Box:65647 Al
Ain,U.A.E
171 Harish Harish 547 - - - - - - 547 570 - - - - - - 570
P.O. Box:42973 Dubai,
U.A.E
172 Muhammad Naeem Muhammad Naeem 1,036 - - - - - - 1,036 1,193 - - - - - - 1,193
P.O. Box:26013 Sharjah,
U.A.E
173 Syed Mazher Ul Haque Syed Mazher Ul Haque 527 - - - - - - 527 527 - - - - - - 527
Qaiser Qaiser
P.O. Box:35170 Dubai,
U.A.E
174 Johnas Mondroy Baja Johnas Mondroy Baja 692 - - - - - - 692 698 - - - - - - 698
P.O.Box 261619, Dubai,
U.A.E.
175 Nasim Ul Ghani Abdul Nasim Ul Ghani Abdul 1,628 - - - - - - 1,628 1,460 - - - - - - 1,460
Ghani Ghani
U.A.E.
176 Ibrahim A Karim H Ibrahim A Karim 2,556 - - - - - - 2,556 2,374 - - - - - - 2,374
Almaimani
P.O.Box 157, Dubai, U.A.E.
177 Sherief Mohammod Sherief Mohammod 863 - - - - - - 863 800 - - - - - - 800

Basheer Basheer
U.A.E.
178 Muhammad Farooq Muhammad Farooq 650 - - - - - - 650 678 - - - - - - 678
U.A.E.
179 Kulthoum Hussain Kulthoum Hussain 2,268 - - - - - - 2,268 2,319 - - - - - - 2,319
U.A.E.
180 Saeed Rashed R. A. H. Al Saeed Rashed R. A. H. Al 673 - - - - - - 673 673 - - - - - - 673
Zaabi Zaabi
P.O.Box 246, Abu Dhabi,
U.A.E.
181 Abd El Mohsen Mohamed Abd El Mohsen Mohamed 925 - - - - - - 925 1,006 - - - - - - 1,006
El Sayed El Sayed
P.O.Box 253, Abu Dhabi,
U.A.E.
182 Mariam Cenciode Guzman Mariam Cenciode Guzman 2,249 - - - - - - 2,249 2,027 - - - - - - 2,027
U.A.E.
183 Ahmed Salim Saif Al Ahmed Salim Saif Al Fazari 4,370 46 - 46 - - - 4,416 4,268 46 - 46 - - - 4,314
Fazari
P.O.Box No 47 Doha Qatar
184 Sardar Khan Dost Sardar Khan Dost 3,239 1,055 - 1,055 - - - 4,293 3,202 1,199 - 1,199 - - - 4,401
Mohammad Mohammad
P.O.Box No 9758 Doha
Qatar

185 Khalid Soliman M.H.Al Khalid Soliman M.H.Al 6,240 3,537 - 3,537 - - - 9,777 6,239 3,889 - 3,889 - - - 10,128
Taweel Taweel
P.O.Box No 6169 Doha
Qatar
186 Maumood Sultan Maumood Sultan 621 - - - - - - 621 621 - - - - - - 621
Flat 22, Bldg 844, Road
1128, Manama 311
187 Zulqarnain Haider Zulqarnain Haider 36302-1464202-7 1,360 3 - 3 - - - 1,363 95 542 - 542 - 27 27 664
Near Chugi No 14
Mumtazabad Mohallah
Basti Ram Kali Multan
Multan Multan
188 Khyal Muhammad Khyal Muhammad 17102-9042244-7 Muhammad - - - - - - - - - 614 - 614 - 188 188 802
H No 8 Ziam Qila
Kochyeno Kalay Tangi
Charsadda
189 Muhammad Asif Muhammad Asif 35201-6326933-1 Abdul Latif 471 9 - 9 - - - 480 - 2,308 - 2,308 - 5 5 2,313
H No 11-I-B Allowdin Road
Cantt Lahore
190 Waseem Zaheer Waseem Zaheer 42301-9065451-9 Syed Mohammad Zaheer 1,213 9 - 9 - - - 1,222 - 687 - 687 - 1 1 688
E-607, Chapal Resort,
Block-1, Clifton, Near Boat
Basin Police Station
191 Arif Mehmood Gujjar Arif Mehmood Gujjar 38405-5114206-7 Ali Muhammad 1,837 15 - 15 - - - 1,851 - 2,141 - 2,141 - 10 10 2,151
Khaiber Sweets And
Bakers P-575 College
Road Namat Colony 1
Faisalabad
192 Fayyaz Ahmad Qadri Fayyaz Ahmad Qadri 35202-7587301-9 Suraj Din 2,702 22 - 22 - - - 2,723 - 1,535 - 1,535 - 6 6 1,541
H No 12-A Muhallah
Racha Rasheed Rd Lahore
193 Mohammad Kamal Uddin Mohammad Kamal Uddin 42000-3057360-9 Abdul Haleem 2,345 21 - 21 - - - 2,366 - 1,453 - 1,453 - 0 0 1,453
M K Corporation Room No
617 6Th Floor Zohra
Square Bldg Ma Jinnah Rd
Karachi
194 Musa Constant Sher Gill 42201-9859370-5 523 6 - 6 - - - 529 - 512 - 512 - 8 8 520
Flat#3 Floor#2 Plot No 28-
C 14 Commercial Street
Phase 2 Extension Dha
Karachi
195 Tariq Mehmood Tariq Mehmood 35202-8919171-3 Aziz Ud Din 7,667 52 - 52 - - - 7,719 - 9,789 - 9,789 - 1 1 9,790
H No 181 Atta Turk Block
New Garden Town Lahore
196 Shahzad Rasheed Shahzad Rasheed 42201-4346326-9 Abdul Rasheed (Late) 1,101 11 - 11 - - - 1,111 - 774 - 774 - 0 0 774
Flat # A-30, Zubaida
Classics Block 13-D-2
Gulshan-E-Iqbal
197 Nayyar Ahmed Malik Nayyar Ahmed Malik 35202-2026918-7 Naseem Ahmed Malik 24,711 215 - 215 - - - 24,926 - 24,415 - 24,415 - 12 12 24,427
H No 53-U , Phase Ii Dha
Cantt Lahore
198 Mohammad Tariq Mohammad Tariq 35202-2527308-5 Mohammad Ali 500 4 - 4 - - - 504 - 756 - 756 - 0 0 756
H No 11 St No 31 Safi
Road New Islamia Park
Chuberji Lahore

199 Muhammad Ashraf Muhammad Ashraf 35202-0591483-1 Chaudhary Barkat Ali 2,210 18 - 18 - - - 2,227 - 3,401 - 3,401 - 11 11 3,412
Chaudhary Chaudhary
Punjab Institute Of
Paramedica 13 Mamdot
Block Mustafa Town
Lahore
200 Haroon Ahmad Haroon Ahmad 33100-8305200-3 Neyaz Ahmad 3,307 5 - 5 - - - 3,312 - 7,197 - 7,197 - 0 0 7,197
H No 12/25 Main Road
Green View Colony
Faisalabad
201 Tehsin Ali Shareef Tehsin Ali Shareef 42301-6484131-1 Hussain Ali Shareef 5,646 49 - 49 - - - 5,696 - 5,359 - 5,359 - 1 1 5,361
Free Hold Assoct Pvt Ltd
Flat No A-1 Park Way Appt
Tennis Club Road Blk 9
Clifton Karachi
202 Abdul Qadir Mughal 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
Heco Sales 9Km Multan
Road Awan Town Lahore
203 Khalid Ali Mansoori 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
Flat No D-11 Florida
Homes Phase V DHA
204 Raja Muhammad Dulpazir Raja Muhammad 42401-2889397-3 Raja Muhammad Arbab 2,802 3,190 - 3,190 - - - 5,992 - 3,246 - 3,246 - 13 13 3,259
Kyani
House No A-24 Sector Z-V
Gulshan-E-Mehmar
Karachi
205 Amjad Hussain Amjad Hussain 33100-3576503-5 Muhammad Hussain 2,690 - - - - - - 2,690 - 2,530 - 2,530 - 12 12 2,542
Bilal Traders Shop No 92
Gulistan Market No
Railway Road Behind
Nigena Cin Faisalabad
206 Adnan Iqbal Khan Adnan Iqbal Khan 42301-6309719-7 Iqbal Ahmed Khan 4,198 - - - - - - 4,198 - 539 - 539 - 1 1 540
H No B-16/13 Alpine
Homes Rojhan Behind Bar
B-Q Block 5 Clifton
207 Shahid Rais Ahmed Shahid Rais Ahmed 35202-6224490-7 Rais Ahmed 3,786 - - - - - - 3,786 - 4,197 - 4,197 - 1 1 4,198
Kashif Brothers Toys
Centre Sh No 4-5 Pak
Market Shah Alam Market
Lahore
208 Abid Hussain Abid Hussain 42501-1036790-9 Muhammad Shafi (Late) 1,150 12 - 12 - - - 1,163 570 51 - 51 - 1 1 622
H No 99 Row # 4 C Area
Korangi Crossing Near
Crossing
209 Muhammad Tariq Muhammad Tariq 35202-5897014-7 Muhammad Rafiq 3,034 16 - 16 - - - 3,050 - 6,595 - 6,595 - 9 9 6,604
H No 3-A,St No 71-A
Wassan Pura Lahore
210 Nazar Miran Ali Nazar Miran Ali 35202-8217609-1 Muhammad Rafi 563 4 - 4 - - - 567 - 1,415 - 1,415 - 1 1 1,416
H No 92/A Allama Iqbal
Road Ghari Shahu Lahore
211 Jawaid Iqbal 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
A J International Traders,
Office No. 9, Kulsoom Bai
Building, Jamat Khana
Street, Saddar Karachi
212 Muhammad Saeed Muhammad Saeed 33100-7915636-9 Ch. Muhammad Din 1,178 949 - 949 - - - 2,127 - 1,007 - 1,007 - 87 87 1,094
P-352-D Block St 2
G M Abad Faisalabad.

213 Tahir Mushtaq Tahir Mushtaq 33100-4620798-5 Mushtaq 2,380 2,734 - 2,734 - - - 5,114 - 2,669 - 2,669 - 78 78 2,746
H No 148 Hamza Street No
1 Waqas Chowk Khayaban
Colony No 1
214 Kamran Parekh Kamran Parekh 42301-7099809-3 Mehmood Parekh 467 490 - 490 - - - 957 140 495 - 495 - 49 49 684
Credit Risk Management
Dep 2Nd Fl Dubai Islamic
Bank Hassan Chambers D
C 7 Bl 7 Kehkashan Clifton
Karachi
215 Osman Masud Osman Masud 61101-1835957-5 M Masood Pervaz 501 661 - 661 - - - 1,162 101 673 - 673 - 6 6 779
Avenir Technologies Pvt
Ltd Off No 4-B Ground
Floor Evacuee Trust
Complex F-5/1 Islamabad
216 Muhammad Yaqoob Paul Muhammad Yaqoob Paul 37301-2325091-1 Muhammad Ismail Paul 375 373 - 373 - - - 748 100 385 - 385 - 37 37 522
Salah Selencer And Gas
Welding G T S Chowk .
Edhi Centre,Jhelum
217 Muhammad Irfan Muhammad Irfan 35202-0368453-7 Ch M Yousaf 176 450 - 450 - - - 626 116 453 - 453 - 44 44 613
Myb 31-B Gulberg V Zafar
Ali Road Lahore Lahore
218 Saeed Ahmed Naseem Saeed Ahmed Naseem 33100-1933832-5 Ch Sikandar Ali 147 467 - 467 - - - 614 92 470 - 470 - 4 4 567
H No P-36 Sheikhupura
Road Malik Pur Nr Haji
Book Depo Faisalabad
219 Mirza Asif Baig Mirza Asif Baig 42101-9484754-1 Mirza Mahmood Baig 458 661 - 661 - - - 1,120 137 678 - 678 - 58 58 873
A-503 Az Comforts Plot Sc
Ii Block H North
Nazimabad ,Karachi
220 Muhammad Irfan Muhammad Irfan 42401-1458305-7 Khalil Rehman 310 439 - 439 - - - 749 93 453 - 453 - 4 4 550
H No C/79-80 1St Floor
Wilayatabad No 2
Manghopir Road Karachi
221 Manzoor Hussain Manzoor Hussain 36502-1857954-1 Chaudhary Fazal 245 406 - 406 - - - 652 80 414 - 414 - 38 38 533
Descent Furniture Ara Muhammad
Manid Kot Khadam Ali
Shah Al Wali Kanda
,Sahiwal
222 Syed Muhammad Nasir Syed Muhammad Nasir 42101-1739755-1 Syed Farzand Raza - - - - - - - - 143 694 - 694 - 62 62 898
Raza Rizvi Raza Rizvi
H No D-2 Block 13-D-1
Gulshan E Iqbal Karachi
223 Tariq Mehmood Tariq Mehmood 3520-22771479-9 Rahmat Ali 317 521 - 521 - - - 838 117 538 - 538 - 52 52 706
T M Photo Exprees 16
Urdu Nagar Mor
Samanabad Gulshan Ravi
Road Lahore
224 Sibghat Ullah Khan Sibghat Ullah Khan 35202-9999867-5 Sami Ullah Khan 379 664 - 664 - - - 1,043 143 684 - 684 - 62 62 890
H No 66/A Rasool Park
Ichra Lahore
225 Muhammad Irfan Muhammad Irfan 42301-4429671-1 Mohd Akber 281 412 - 412 - - - 692 84 428 - 428 - 38 38 549
Trade Link International
Suit No 27 2Nd Floor Al
Rehman Centre 15
Keamari Karachi

226 Amjad Ali Shaida Amjad Ali Shaida 35202-2733379-5 Abdul Rasheed 499 456 - 456 - - - 956 139 476 - 476 - 5 5 621
305 Pak Block Allama
Iqbal Town Lahore
227 Muhammad Shafiq Mughal Muhammad Shafiq Mughal 34101-2691676-1 Muhammad Siddique 394 508 - 508 - - - 902 109 538 - 538 - 5 5 652
Malik Yaseen Silk Centre,
Near Ramzan Paan Shop,
Main Bazar Shaheen
Abad, Gujranwala
228 Mohiuddin Zaki Mohiuddin Zak 42201-8616265-7 Qazi Zaheer Uddin 425 539 - 539 - - - 964 127 574 - 574 - 53 53 754
A 17 Block 3 Gulshan-E-
Iqbal ,Karachi
229 Muhammad Mumtaz Uddin Muhammad Mumtaz Uddin 42201-6203797-9 Syed Ahmed Noor 501 630 - 630 - - - 1,131 115 678 - 678 - 62 62 856
Ahmed Ahmed
Flat No.A-29, Lucky
Centre, Block-4, Gulshan-
E-Iqbal, Opp. Pizza Hutt,
Karachi...
230 Faisal Mehmood Faisal Mehmood 35201-1284561-9 Muhammad Nisar Ahmed 352 466 - 466 - - - 818 - 518 - 518 - 5 5 522
H No 4 St No 28 Main
Bazar 2 Ghazi Abad Cantt
,Lahore
231 Abdul Hameed Abdul Hameed 41303-7918913-5 Tahir Mohammad 475 556 - 556 - - - 1,030 135 617 - 617 - 6 6 758
M/S Abdul Hameed
Cosmatic Corn Shop 4
Kohe-E-Noor Shoping Mal
Mezz Floor Resham Gali
,Hyderabad
232 Muhammad Naeem Muhammad Naeem 35202-3276165-5 Muhammad Bashir 393 419 - 419 - - - 812 113 463 - 463 - 5 5 581
H No 5-A St No 3 Mazang
Road Mazang Lahore
233 Amir Hanif Amir Hanif 61101-1951198-1 Mohammad Hanif 293 417 - 417 - - - 710 80 462 - 462 - 45 45 586
Telconet Communication H
No. 4 Street 56 F-8/4
Islamabad
234 Muhammad Waseem Muhammad Waseem 42201-4012381-7 M Ounus Qureshi 500 443 - 443 - - - 943 143 509 - 509 - 52 52 705
Am Enterprise Office 14
Poonawala View Building
Borhi Road Opposite
Custom House. Khi
235 Syed Aman Ul Haque Syed Aman Ul Haque 42201-0275905-5 Syed Anis Ul Haq 413 495 - 495 - - - 908 122 549 - 549 - 6 6 677
Micron B/710 Saima Trade
Tower I.I Chundrigar Road
Near Jungp ,Karachi
236 Muhammad Amjad Muhammad Amjad 42301-0493080-9 Abdul Sattar 479 498 - 498 - - - 977 139 578 - 578 - 59 59 776
Young Student Centre
Shop No 9 Gul Centre
Capital Gali Saddar Karachi
237 Saeed Iqbal Saeed Iqbal 42201-0725912-9 Iqbal 469 271 - 271 - - - 739 140 357 - 357 - 39 39 536
H No 19 St No 10 Sector E
Manzoor Colony
238 Abdul Jabbar Abdul Jabbar 33100-1394416-1 Muhammad Ishaq 493 - 104 104 - - - 597 493 - 104 104 - - - 597
Rocket Corporation
Shadman Road Near Allied
Bank Faisalabad

239 Fazal Hussain Malik Fazal Hussain Malik 61101-7419377-1 Malik Allah Bakhsh 740 - 328 328 - - - 1,068 740 - 328 328 - - - 1,068
H # 339 St # 73 G-11/2
Islamabad
240 Khuram Ibrahim Khuram Ibrahim 37405-6665694-9 Umer Bakhash Satti 456 - 109 109 - - - 565 456 - 109 109 - - - 565
H No D-85 Sector No 1
Khayaban E
Sirsyed,Rawalpindi
241 Hassan Ashraf Hameed Hassan Ashraf Hameed 61101-1946765-9 Ashraf Hameed 713 - 203 203 - - - 916 713 - 203 203 - - - 916
Appt # 006 Park Towers
Main Building F-10/3
Islamabad
242 Ashfaq Ul Haq Ashfaq Ul Haq 35202-2367122-7 Abdul Haq 409 - 104 104 - - - 513 409 - 104 104 - - - 513
H No 66-B-1 Johar Town
Lahore Lahore
243 Kashif Shehzad Kashif Shehzad 38403-2265218-3 Muhammad Farooq 466 - 143 143 - - - 609 466 - 143 143 - - - 609
H No 452,St No 9 Cheema
Colony Sargodha
244 Muhammad Khalil Muhammad Khalil 42501-9861623-7 Hakim Din 478 - 132 132 - - - 610 478 - 132 132 - - - 610
H No R-318 Decent House
Block 7 Gulistan-E-Jauhar
Karachi
245 Shaukat Hussain Shaukat Hussain 31202-0252708-5 Manzar Ahmed 448 - 132 132 - - - 580 448 - 132 132 - - - 580
H No 530-Ii-2-A New Model
Colony Bund Road Mirza
Ice Factory Bahawalpur
246 Mian Liaqat Ali Sheikh Mian Liaqat Ali Sheikh 36302-4195237-9 Sheikh Muhammad Younas 394 - 121 121 - - - 515 394 - 121 121 - - - 515
H No. 483, Block E-1
Wapda Town,Upper
Portion Lahore
247 Ghulam Mohammad Ghulam Mohammad 37406-3615610-5 Mohammad Suleman 534 - 159 159 - - - 693 534 - 159 159 - - - 693
Chach House Saabri
Kalimullah Karyana
Munirabad Opp Aysha
Masjid Wah Cantt
248 Khayyam Shahzad Khayyam Shahzad 54400-1903191-1 Muhammad Saleem 506 - 158 158 - - - 664 506 - 158 158 - - - 664
H No P-80,St No 06/10
Abdullah Jalal Centre
Munshi Mohalla Faisalabad
249 Hafeez Ullah Saeed Hafeez Ullah Saeed 33100-0721436-1 Muhammad Saeed 486 - 142 142 - - - 628 486 - 142 142 - - - 628
H No P-93,Main Bazar
Green View Colony,Rajey
Wala Faisalabad
250 Aisha Tahoor Aisha Tahoor 42401-5489084-6 Syed Tahoor Hussain 424 - 102 102 - - - 526 424 - 102 102 - - - 526
Fl No F-42 2Nd Floor
Phase Ii Defence View
Karachi
251 Mohammad Shahrukh Mohammad Shahrukh 42000-8129775-9 Naeem Ul Haq 446 - 121 121 - - - 567 446 - 121 121 - - - 567
Siddiqui Siddiqui
Fl No B-49 Anar Kali
Complex Bab-E-Arif Nagan
Chowrangi
252 Javaid Iqbal Qamar Javaid Iqbal Qamar 36302-8512607-7 Rao Abdul Sattar Khan 456 - 146 146 - - - 602 456 - 146 146 - - - 602
562-A Al-Quresh Housing
Phase 1 Street # 8-A
Shershah Road Multan-
061-6538199

253 Mohammad Imran Mohammad Imran 45301-1367728-9 Mohammad Akram 477 - 150 150 - - - 627 477 - 150 150 - - - 627
H No 21 Block C Unit 6
Latifabad Ak Minar Masjid
Hyderabad
254 Lal Bux Lal Bux 41306-1322732-9 Allah Rakhiyo 424 - 123 123 - - - 546 424 - 123 123 - - - 546
House No 2 Domra Goth
Qasimabad Near Ali Raza
Catress Hyderabad
255 Sabir Ali Khan Norani Sabir Ali Khan Norani 35202-0228331-3 Ghazanfar Ali Khan Norani 488 - 149 149 - - - 637 488 - 149 149 - - - 637
H No 12 Block 3,Sector C-
1,Green Town,Township
Lahore
256 Manzoor Hussain Manzoor Hussain 42501-0176010-9 Hazoor Bux Bhatti 478 - 130 130 - - - 608 478 - 130 130 - - - 608
F-403 Chapal Garden Abul
Hassan Ispahani Road
Gulshan-E-Iqbal
257 Muhammad Riaz Shahza Muhammad Riaz Shahza 37302-1184015-9 Fazal Ellahi 512 - 142 142 - - - 654 512 - 142 142 - - - 654
H No Ts-53 Hit Majid
Shaheed Colony,Taxila
258 Naveed Ahmad Naveed Ahmad 37405-0627379-3 Habeeb Ahmad 523 - 164 164 - - - 687 523 - 164 164 - - - 687
H No Bv-66 Haider Ali
Street #5 Muslim Town
Near Al-Mubarik Cng
Rawalpindi
259 Muhammad Shahzad Muhammad Shahzad 35202-1619390-9 Zain Ul Abideen 505 - 180 180 - - - 685 505 - 180 180 - - - 685
Ahmed Ahmed
H No 53 St No 15
Muhammad Nagar Bilal
Park Lahore
260 Muhammad Abaidullah Muhammad Abaidullah 36401-0687543-9 Muhammad Hasan 390 - 153 153 - - - 543 390 - 153 153 - - - 543
H No 194/4 Block N
Pakpattan Road Arifwala
261 Naheed Tabassum Naheed Tabassum 42201-2684598-6 Bahir Ahmed Siddique 471 - 142 142 - - - 613 471 - 142 142 - - - 613
A-9 Centre Point 1St Floor
Block 21 F B Area
262 Tahir Hussain Rajput Tahir Hussain Rajput 45402-5144878-5 Mubin Ahmed 491 - 159 159 - - - 651 491 - 159 159 - - - 651
K-358 Ward # 03
Manuabad Nawabshah
263 Tariq Mehmood Tariq Mehmood 33100-4696758-1 Abdul Aziz 458 - 91 91 - - - 549 458 - 91 91 - - - 549
Quarter No 1, Bandadi
Tabimarkaz Millat Road
Chak No 116-Jb Faisalabad
264 Aijaz Ahmed Aijaz Ahmed 43105-1513494-5 Rafeeq Ud Din 639 - 255 255 - - - 894 639 - 255 255 - - - 894
H No D-39 Empire Centre
Block 18 Gulistan-E-Johar
Karachi
265 Ashi Khan Ashi Khan 42401-6959298-4 Abdul Rasheed 745 - 290 290 - - - 1,034 745 - 290 290 - - - 1,034
Fl No 12-C 3Rd Floor Appt
No 5 Lane 8 Bukhari
Comm Phase 6 Dha Super
Fine Dry Cleaner Karachi
266 Syed Moazzum Ali Shah Syed Moazzum Ali Shah 31303-8553532-3 Sed Ghazanfar Ali Shah 403 - 173 173 - - - 576 403 - 173 173 - - - 576
Basti Noor E Wali Muhalla
Sheikhan Rahim Yar Khan

267 Mohammad Kashif Mohammad Kashif 42201-0464304-1 Muhammad Umer 534 - 152 152 - - - 685 534 - 152 152 - - - 685
Flat No 2 2Nd Floor 347C
Blk 2 Pechs Karachi
268 Ghulam Mustafa Ghulam Mustafa 41204-8642923-3 Muhammad Bachal 564 - 253 253 - - - 817 564 - 253 253 - - - 817
Mallah House 716-E
Kamesry Bagh Darya Road
Opp Zarie Bank Kotri
269 Muhammad Zahid Muhammad Zahid 42201-8740211-9 Mohammad Akbar 373 - 150 150 - - - 523 373 - 150 150 - - - 523
H No L-100 Rafi Garden
Malir City
270 Shaher Bano Shaher Bano 45402-1020524-6 Imdad Ali 399 - 176 176 - - - 575 399 - 176 176 - - - 575
H No A-35/200 Paro
Abdullah Town Block A
Hyderabad
271 Muhammad Rizwan Muhammad Rizwan 42401-1847512-7 M Tariq 570 - 229 229 - - - 800 570 - 229 229 - - - 800
Flat No D-509 Rufi Lake
Drive Block 18 Gulistan-E-
Johar Perfume Chowk
Karachi
272 Asjad Rasool Asjad Rasool 37301-4480456-9 Gulam Rasool 522 - 111 111 - - - 632 522 - 111 111 - - - 632
Asjad House Mohallah Harl
Po Khas Chakakka Gt
Road Jhelum Dina
273 Bashir Ahmed Bashir Ahmed 31303-7742304-9 Muhammad Suleman 589 - 251 251 - - - 840 589 - 251 251 - - - 840
Basti Noor Pur Chak
Abbas Rahim Yar Khan
274 Iram Shahzad Iram Shahzad 36302-0924118-9 Zahoor Ahmad Tabash 622 - 279 279 - - - 901 622 - 279 279 - - - 901
Khawaja Street New
Shadab Colony Multan
275 Haji Muhammad Yasin Haji Muhammad Yasin 36402-7453294-7 Roshan Din 533 - 222 222 - - - 755 533 - 222 222 - - - 755
Yasin House St No 1
Muhalla Shahid Nagar
Pakpattan
276 Muhammad Ijaz Ahmed Muhammad Ijaz Ahmed 35202-3338653-9 Miray Din 428 - 188 188 - - - 616 428 - 188 188 - - - 616
H No 2 St No 10 Javaid
Colony Changi Amer
Sadhu Lahore
277 Naveed Ahmed Naveed Ahmed 31303-9167445-3 Gulam Rasool 951 - 444 444 - - - 1,395 951 - 444 444 - - - 1,395
H No 141-C Block W
Scheme No 2 Gulshan E
Iqbal Rahim Yar Khan
278 Himat Shah Himat Shah 21203-5720702-3 Janat Shah 594 - 233 233 - - - 827 594 - 233 233 - - - 827
Room No 12 Mall Plaza
Ring Road Peshawar
279 Muhammad Saleem Muhammad Saleem 38403-2249176-3 Muhammad Shabbir 415 - 196 196 - - - 611 415 - 196 196 - - - 611
House No 3-S-70 St
Mohalla 5 Block 10 Po
Sargodha City Sargodha
280 Nasir Ali Nasir Ali 35202-2892854-9 Naseer Ahmed 412 - 169 169 - - - 581 412 - 169 169 - - - 581
H No 5 St No 109 Johar
Street Sandha Road
Islampura Lahore
281 Naveed Akhter Naveed Akhter 34101-4340956-9 Abdul Rasheed 484 - 113 113 - - - 597 484 - 113 113 - - - 597
H No 3 Basharat Town
More Eminabad Gujranwala
282 Naveed Iqbal Naveed Iqbal 17301-2237585-9 Muhammad Akram 921 - 412 412 - - - 1,333 921 - 412 412 - - - 1,333
H No 2 St No 24 Wah
Model Town Wah Cantt

283 Tousef Khan Niazi Tousef Khan Niazi 41303-2897591-9 Mohammad Hanif 589 - 238 238 - - - 827 589 - 238 238 - - - 827
Fl No 1 Bashiruddin Plaza
Dominwah Road
284 Muhammad Yasin Muhammad Yasin 36502-6914007-7 Muhammad Yousaf 464 - 104 104 - - - 569 464 - 104 104 - - - 569
Yasin House Election
Office Chak No 88/9-C
Sahiwal
285 Muhammad Ashraf Muhammad Ashraf 33100-9229871-3 Sh Din Muhammad 559 - 145 145 - - - 705 559 - 145 145 - - - 705
China Silk Centre Shop No
6 St No 5 Anarkali Baz
Bhawana Bazar Faisalabad
286 Sohail Ahmed Siddique Sohail Ahmed Siddique 41303-4667743-1 Imam Uddin 606 - 282 282 - - - 887 606 - 282 282 - - - 887
H No G-32/25 Plot No 35
Habib Centre Liaqat
Colony Hyderabad
287 Muhammad Hamid Muhammad Hamid Rafique 33100-5322631-1 Muhammad Rafique 606 - 175 175 - - - 781 606 - 175 175 - - - 781
Rafique
H No 652,St No 4
Muhammad Abad Satiana
Road Faisalabad
288 Mohammad Ismail Malik Mohammad Ismail Malik 41204-9286312-1 Mir Mohammad Malik 544 - 141 141 - - - 685 544 - 141 141 - - - 685
Quarter No 3 Taluka
Hospital Kotri Hyderabad
289 Muhammad Asim Anwar Muhammad Asim Anwar 37405-1516541-1 M Anwar 435 - 96 96 - - - 531 435 - 96 96 - - - 531
Sincert Industrises Plot No
8-9 Azher Street Behind
Moti Mehal Cinema
Rawalpindi
290 Sheikh Muhammad T Bilal Sheikh Muhammad T Bilal 36302-9412044-5 Sheikh Muhammad Aqoob 396 - 110 110 - - - 506 396 - 110 110 - - - 506
Sheikh And Co 2055
Hussain Agahi Multan
291 Syed Ali Raza Syed Ali Raza 36302-1421802-7 Syed Abdul Razaq Shah 419 - 119 119 - - - 537 419 - 119 119 - - - 537
Bukkhri House Kotla Waris
Shah Near Ghungi No 1
Nishter Road Multan
292 Syed Rashid Sibteen Syed Rashid Sibteen 41205-0576308-3 Sed Kamal Sibteen 587 - 173 173 - - - 760 587 - 173 173 - - - 760
H No 236 Street 17
Sherfabad Housing
Society Karachi No 5
293 Khawar Nazeer Khawar Nazeer 41306-2448468-7 Nazeer Ahmed Qureshi 632 - 194 194 - - - 826 632 - 194 194 - - - 826
H No 15 Happy Homes
Citizen Colony Qasimabad
294 Abdul Qayyum Abdul Qayyum 36402-7893394-1 Hafiz M Mansha 465 - 128 128 - - - 593 465 - 128 128 - - - 593
Qayyum House Kanda
Stop Nr Kalyana Hatta
Road Pakpattan
295 Shahzada Muhammad Arbi Shahzada Muhammad Arbi 36302-7904359-5 Mian Rasool Buksh Qureshi 449 - 145 145 - - - 594 449 - 145 145 - - - 594
H No 1034 Muhalla Peer
Qazi Jalal I/S Pak Gate
Multan

296 Akbar Ashiq Ali Akbar Ashiq Ali 42201-0584692-1 Ashiq Ali 400 - 114 114 - - - 513 400 - 114 114 - - - 513
Bangalow # 2, Gulnoor
Bangalow Garden East
Karachi Opp. Soneri Bank
297 Umer Ijaz Butt Umer Ijaz Butt 34603-7590527-7 Ijaz Ahmed Butt 677 - 246 246 - - - 923 677 - 246 246 - - - 923
Nae Abadi Ameen Abad
Road Habib Pura Sialkot
298 Asim Ameer Asim Ameer 35302-8976606-9 Ameer Ullah 481 - 167 167 - - - 648 481 - 167 167 - - - 648
H No 303 St No 17
Muhalla Sindhi Okara
299 Abid Hussain Abid Hussain 42101-1748717-9 Muhammad Nazar 395 - 132 132 - - - 527 395 - 132 132 - - - 527
H No C-47 Railway Gate
Musa Colony Near Bilal
Masjid Karachi
300 Ali Ahmed Ali Ahmed 34601-7235005-5 Khalil Ahmed 476 - 161 161 - - - 637 476 - 161 161 - - - 637
Daska Road Adda Shawr
Sialkot
301 Izhar Zahir Izhar Zahir 42201-3459537-3 Zahir Parwaiz 385 - 244 244 - - - 628 385 - 244 244 - - - 628
House # K-200, 1St Floor
Muhalla K-Area, Korangi #
5 Near Al-Habib Masjid
302 Aftab Ahmed Aftab Ahmed 34603-2235221-9 Habib Ullah 467 - 141 141 - - - 608 467 - 141 141 - - - 608
Mehar Link St, Main Fateh
Garh Road, Umer E
Farooq Masjid, Sialkot
303 Malik Muhammad Qasim Malik Muhammad Qasim 33100-4293821-7 Nazir Ahmed 493 - 175 175 - - - 668 493 - 175 175 - - - 668
H No P-40-41 Ground
Floor St No 1 Primer
Colony Nazim Abad
Faisalabad
304 Zeeshan Butt Zeeshan Butt 35201-3238747-9 Muhammad Rafiq Butt 816 - 343 343 - - - 1,159 816 - 343 343 - - - 1,159
H No 10 St No 25-A
Mujahid Pura Mughalpura
305 Malik Talib Hussain Malik Talib Hussain 33102-4553005-7 Malik Abdul Ghani 831 - 482 482 - - - 1,313 831 - 482 482 - - - 1,313
Shama Trading/Ms 7
Group P-1320/21 Block D-
A Ghulam Muhammad
Abad Faisalabad
306 Muhammad Nawaz Muhammad Nawaz 17301-4103736-7 Wali Muhammad 320 - 475 475 - - - 795 320 - 475 475 - - - 795
Nz Traders Flat No 25 2Nd
Floor Cantonment Plaza
Saddar Road Cantt
Peshawar
307 Fida Muhammad Durrani Fida Muhammad Durrani 17301-4937109-3 Abdul Samad Durrani 231 - 377 377 - - - 607 231 - 377 377 - - - 607
Fida Poultery Services
Shop No 12 Opp Mirch
Mandi Charsada Road
Peshawar
308 Shaukat Ali Shaukat Ali 37405-3737773-9 Mushtaq Ahmed 253 - 387 387 - - - 640 253 - 387 387 - - - 640
Sheikhs Store Shop No 15-
E Aziz Bhatti Road Tariq
Abad Lal Kurti Rawalpindi

309 Moeez Yousaf Ali Moeez Yousaf Ali 37405-3464290-5 Yousaf Ali Khitiyanawala 163 - 532 532 - - - 695 163 - 532 532 - - - 695
Khitiyanawala Khitiyanawala
Moeez And Sons Off No
26 Saleh Market Adamjee
Road Saddar Rawalpindi
310 Shiekh Shees Ahmed Shiekh Shees Ahmed 37405-2384525-5 Sheikh M Sharif 283 - 438 438 - - - 720 283 - 438 438 - - - 720
Flat No 3 Amir Plaza
Commercial Area Chaklala
Scheme Iii Rawalpindi
311 Amir Salah Ud Din Amir Salah Uddin 37405-5565776-3 Salah Uddin 484 - 782 782 - - - 1,267 484 - 782 782 - - - 1,267
Landco Intl Off No G-270
Flat No 4 College Road
Rawalpindi
312 Asif Iqbal Asif Iqbal 91306-9650601-3 Muzaffar Khan 204 - 345 345 - - - 549 204 - 345 345 - - - 549
Asif Tents Service Sh No
278-2 Kamalabad
Rawalpindi
313 Sheikh Mehboob Alam Sheikh Mehboob Alam 37405-0665263-5 Sheikh Muhammad Yaqoob 301 - 480 480 - - - 781 301 - 480 480 - - - 781
Yaqoob Yaqoob
Alam Mala Mine Plot No
Bb 927 Near Khayaban-E-
Sir Syed Bridge Rawalpindi
314 Salman Saeed Khan Salman Saeed Khan 37405-3103743-5 Abdul Saeed Khan 304 - 473 473 - - - 776 304 - 473 473 - - - 776
Salman Associates Off No
15 1St Floor Majeed Plaza
Bank Road Saddar
Rawalpindi
315 Muhammad Rasheed Muhammad Rasheed 35302-5664631-3 Muhammad Ramzan 270 - 453 453 - - - 723 270 - 453 453 - - - 723
Ahmad Ahmad
H No 92 Main Street
Ghalla Mandi ,Okara
316 Masud Ahmed Khan Masud Ahmed Khan 37405-4314919-9 Abdul Majeed Khan 261 - 409 409 - - - 670 261 - 409 409 - - - 670
House No.45, Block-C-2,
Punjab Govt. Cooperative
Housing Society, Lahore
317 Waseem Gill Waseem Gill 35201-1707104-7 211 - 329 329 - - - 540 211 - 329 329 - - - 540
E-355,11-A,Gulbahar
Colony, Husnainabad,
Lahore Cantt.
318 Muhammad Hamid Muhammad Hamid 35200-1485201-1 Faiz Ullah Sulhri 502 - 740 740 - - - 1,242 502 - 740 740 - - - 1,242
86 Block-J Gulberg Iii
Lahore
319 Muhammad Akram Muhammad Akram 35202-5600335-5 Muhammad Ashraf 204 - 327 327 - - - 531 204 - 327 327 - - - 531
Nib House 3Rd Floor 14 A
Shahra-E-Aiwan-E-Tijarat
Old Racecourse Road
Lahore Lahore
320 Ahsan Khalique Khan Ahsan Khalique Khan 35200-1471196-3 Nisar Ahmed Khan 403 - 617 617 - - - 1,021 403 - 617 617 - - - 1,021
60/9C Kacha Farezepur
Road Icma Mazang Chungi
Lahore
321 Waseem Rafiq Waseem Rafiq 35201-4426855-7 Muhammad Rafiq 503 - 778 778 - - - 1,281 503 - 778 778 - - - 1,281
Wark International 9 Noon
Avenue Muslim Town
Lahore

322 Muhammad Asim Muhammad Asim 35202-2741488-5 Muhammad Qasim 361 - 600 600 - - - 961 361 - 600 600 - - - 961
Flat No 5 B,2Nd Floor Gul
Plaza Main Market Gulberg
Lahore
323 Chaudry Naeem Yousf Chaudry Naeem Yousf 35202-2926553-5 Ch M Yousf 196 - 312 312 - - - 507 196 - 312 312 - - - 507
H No 173 Pak Block
Allama Iqbal Town Lahore
324 Syed Kamran Ahmad Syed Kamran Ahmad 35202-2057547-1 Ahmed Ali 303 - 447 447 - - - 749 303 - 447 447 - - - 749
H No 28 Block B New
Muslim Town Lahore
325 Muhammad Raza Kazmi Muhammad Raza Kazmi 35200-1527100-1 Hasan Zaki Kazmi 204 - 328 328 - - - 532 204 - 328 328 - - - 532
543 -B Pcsir Ii Lahore
Lahore
326 Salman Farrokh Salman Farrokh 35202-5643640-1 M Farrukh Hassan 231 - 340 340 - - - 571 231 - 340 340 - - - 571
Masood Textile Mills Ltd
16/3 A Eden Homes Main
Gulberg Lahore
327 Faiz Ul Haq Faiz Ul Haq 35202-3990479-3 Abdul Haq 453 - 691 691 - - - 1,144 453 - 691 691 - - - 1,144
Gujranwala Shafoon
House Shop No 9 Bano
Market,188-Multan Road
Near Doctor Rasheed
Dispensery Lahore
328 Mohammad Bilal Mohammad Bilal 35202-6484057-3 Sheikh Khalid Amin 223 - 333 333 - - - 556 223 - 333 333 - - - 556
Varity Hardwre Store 18-
Sultan Ahmad Road Ichra
Lahore
329 Muhammad Munir Butt Muhammad Munir Butt 35202-6544897-3 M Bashir Butt 193 - 309 309 - - - 501 193 - 309 309 - - - 501
Kashmir Paint House 7/8
Al Madina Road Township
Lahore
330 Syed Tahir Ali Syed Tahir Ali 35201-1587760-3 Syed Azher Ali 236 - 354 354 - - - 590 236 - 354 354 - - - 590
Beadon Aluminium Pvt Ltd
8-Live Stock Building 16
Cooper Road Lahore
331 Muhammad Aslam Muhammad Aslam 35202-8938862-7 Chouhdry Shair 388 - 596 596 - - - 984 388 - 596 596 - - - 984
Mukarram Mukarram Muhammad
H No 113,Khyber Block,
Allama Iqbal Town, Lahore
332 Syed Ather Ali Shah Syed Ather Ali Shah 35201-1587734-3 Syed Azhar Ali Shah 310 - 467 467 - - - 777 310 - 467 467 - - - 777
Beadon Almunium Pvt B
Live Stock Building 16
Cooper Road Lahore
333 Qaiser Mubarik Qaiser Mubarik 33202-1382469-1 Mubarak Hussain 212 - 329 329 - - - 541 212 - 329 329 - - - 541
H No 298-D Rizwan Block
Awan Town Lahore
334 Syed Azfar Ali Syed Azfar Ali 35201-1587751-1 Syed Azhar Ali 344 - 526 526 - - - 870 344 - 526 526 - - - 870
Beadon Aluminium 16
Cooper Road Lahore
335 Syed Munawar Hussain Syed Munawar Hussain 35200-1405463-5 Syed M Sadiq Rizvi 248 - 402 402 - - - 650 248 - 402 402 - - - 650
Rizvi Rizvi
H No 12 Block Q Model
Town Lahore

336 Shahzada Ahsan Ashraf Shahzada Ahsan Ashraf 35201-8342906-9 Muhammad Ashraf 204 - 440 440 - - - 644 204 - 440 440 - - - 644
Ahsan Shahzaib
Enterprises Suit No 3 5Th
Floor Liberty Height 75/A
Gulberg Ii Lahore
337 Syed Sohail Raza Rizvi Syed Sohail Raza Rizvi 35200-1455456-7 Sed Munawar Hussain 323 - 519 519 - - - 843 323 - 519 519 - - - 843
H No 12-Q, Link Road, Rizvi
Model Town, ,Lahore
338 Muhammad Ashraf Muhammad Ashraf 35202-2803625-9 Ch Namet Ali 501 - 742 742 - - - 1,244 501 - 742 742 - - - 1,244
H No 3 St No 9 Ramnagar
Rajgar Lahore
339 Muhammad Shahid Muhammad Shahid 35202-2301559-1 M Ashfaq 444 - 660 660 - - - 1,103 444 - 660 660 - - - 1,103
Well Dress Garments
Shop No 15 Ground Floor
Chad Centre Rang Mehal
Lahore
340 Muhammad Rafique Muhammad Rafique 35201-1595479-7 Atta Muhammad 226 - 378 378 - - - 604 226 - 378 378 - - - 604
H No 8 A St No 167 A
Chaman Park Baghban
Pura Lahore
341 Hamid Khursheed Hamid Khursheed 33301-7836141-3 Muhammad Sharif 198 - 409 409 - - - 607 198 - 409 409 - - - 607
H No 85-A Ali Block Awan
Town Multan Road Lahore
342 Syed Mashhudul Hassan Syed Mashhudul Hassan 35202-2591521-5 S Mehmood Ul Hassan 228 - 361 361 - - - 590 228 - 361 361 - - - 590
Novel Technics,Off No 49-
50/A Gallemar One Plaza
Peco Road Township Near
Mochipura Stop Lahore
343 Faisal Javed Faisal Javed 35202-2755775-9 Javed Feroz 252 - 389 389 - - - 642 252 - 389 389 - - - 642
Crown Autos Iqbal Park
Near Main Gate Street 12
Defence Housing Authority
Lahore Cantt
344 Amir Ali Amir Ali 35202-5843816-5 Ghulam Hassan Qureshi 483 - 777 777 - - - 1,259 483 - 777 777 - - - 1,259
Qureshi Photo Shop 90
Chamber Lain Road Masjid
Mai Ladp,Lahore
345 Najam Ul Hassan Najam Ul Hassan 35202-2569243-3 Hassan Akhtar 184 - 317 317 - - - 501 184 - 317 317 - - - 501
Feild Care Pvt. Ltd Office
No 46 1St Floor Israr
Center Block B1 Jouhar
Town Lahore
346 Awais Khalid Awais Khalid 35201-5717535-1 M Khalid 200 - 344 344 - - - 544 200 - 344 344 - - - 544
Awais Autos 93 Lytton
Road Lahore
347 Awais Mehdi Awais Mehdi 35202-1643714-9 Sh Tahir 200 - 307 307 - - - 507 200 - 307 307 - - - 507
Tahir Brothers 53 New
Alamgeer Market Shah
Alam Lahore
348 Jamshaid Ur Rehman Butt Jamshaid Ur Rehman Butt 35202-6161581-1 Muhammad Jmeel Butt 353 - 545 545 - - - 898 353 - 545 545 - - - 898
H No 43 Charagh Park
Shadbagh Lahore
349 Syed Mohsin Ali Syed Mohsin Al 35201-1444261-7 Syed Sarwat Ali 344 - 525 525 - - - 870 344 - 525 525 - - - 870
42- Cooper Road, Lahore

350 Syed Kamran Ali Syed Kamran Ali 35201-3202378-1 Syed Azhar Ali 258 - 399 399 - - - 658 258 - 399 399 - - - 658
Beadon Aluminum Pvt Ltd
8-Live Stock Building 16-
Copper Road Lahore
351 Waseem Iqbal Waseem Iqbal 35102-5339575-9 242 - 401 401 - - - 643 242 - 401 401 - - - 643
Waseem Brothers 37 Meco
Steel Sheet Loha Market
Landa Bazar ,Lahore
352 Muhammad Shah Nawaz Muhammad Shah Nawaz 35202-3008007-9 Muhammad Akram 273 - 426 426 - - - 699 273 - 426 426 - - - 699
Ameer Cloth House Syed
Bukhtiyae Shah Gillani
Market Shop No 4
Pakistani Chowk Near
Habib Bank Icchra Lahore
353 Muhammad Arshad Muhammad Arshad 35202-8788211-3 Mian Muhammad 303 - 493 493 - - - 796 303 - 493 493 - - - 796
Eastern Trading
Corporation 11 Amin
Market Nishter Road Nr
Abl ,Lahore
354 Muhammad Raiz Rana Muhammad Raiz Rana 35201-1485963-1 Muhammad Shafi Rana 253 - 404 404 - - - 657 253 - 404 404 - - - 657
Nest Builders 7 Associates
42 Commercial Zoon
Defence Lane Ghazi Road
,Lahore
355 Muhammad Azam Muhammad Azam 35202-4055981-5 Muhammad Hussain 202 - 335 335 - - - 537 202 - 335 335 - - - 537
Diamond Traders Suit No 7
1St Flr Farooq Centr
Lahore Hotel Mcleod Road
Lahore
356 Khalid Mahmood Khalid Mahmood 35201-2147379-1 Nazaam Din 202 - 321 321 - - - 523 202 - 321 321 - - - 523
Auto Roots Workshop E-
18 Ground Floor Abid
Road Mian Walton Road
Cantt Lahore
357 Nadeem Ahmed Nashat Nadeem Ahmed Nashat 35201-1016595-3 Abdul Ghafur 203 - 334 334 - - - 537 203 - 334 334 - - - 537
Nishat House St No 61 S
Behind Old Police Station
Ghaziabad Lahore
358 Adeel Nazir Adeel Nazir 35202-7157147-1 Malik Muhammad Nazir 294 - 482 482 - - - 776 294 - 482 482 - - - 776
H No 99 Feroz Din Street
Tariq Colony Multan Road
Sodiwal Lahore
359 Muhammad Tayyab Siddiqi Muhammad Tayyab Siddiqi 35202-2325508-7 Ashfaq Ahmed Sadiqui 201 - 331 331 - - - 532 201 - 331 331 - - - 532
Al Rahim Goods 20 Baber
Market 79 Ferozpur Road
Lahore
360 Nadeem Sadiq Mian Nadeem Sadiq Mian 35202-2808942-7 Choudhry Muhammad 180 - 401 401 - - - 581 180 - 401 401 - - - 581
H No 59 A Neelam Block Sadiq
Allama Iqbal Town ,Lahore
361 Zahid Mahmood Zahid Mahmood 35202-2844017-5 Tahir Mahmood 400 - 606 606 - - - 1,006 400 - 606 606 - - - 1,006
H No 13 St No 23 Sultan
Pura Lahore

362 Muhammad Ali Hussain Muhammad Ali Hussain 35202-3228286-1 Zaheer Ud Din Butt 202 - 304 304 - - - 506 202 - 304 304 - - - 506
Butt Butt
431 Nargis Block Allama
Iqbal Town Lahore
363 Syed Saba Sohail Syed Saba Sohail 42101-1767918-0 Syed Sohail Ahmed 300 - 459 459 - - - 759 300 - 459 459 - - - 759
H No R 226 Sector 14 B
Shadman Town Main Road
North Karachi Karachi
364 Sohail Sohail 42301-8867671-7 Abdul Sattar 422 - 594 594 - - - 1,017 422 - 594 594 - - - 1,017
Sunlight Pakistan 1C
Office No# 4 Second Floor
3Rd Zamzama Lane Ph 5
Dha Karachi
365 Javed Ahmed Javed Ahmed 42101-6094074-3 Muhammad Abdul Qudoos 324 - 473 473 - - - 797 324 - 473 473 - - - 797
Anjum Asim Shahid
Rahman Moderan Motor
House 3Rd Floor
Beaumont Road Pidc
,Karachi
366 Tabish Taufiq Tabish Taufiq 42201-3836065-3 Muhammad Taufiq 207 - 308 308 - - - 514 207 - 308 308 - - - 514
Blue Chip International
Plot Number 9, Muslim
Colony Smchs, Block- B
Beside Ftc Building Karachi
367 Sabiha Junaid Farooqi Sabiha Junaid Farooqi 42201-9184430-2 Muhammad Junaid 370 - 555 555 - - - 925 370 - 555 555 - - - 925
The Country School C-5
Block 13-D Gulshan-E-
Iqbal Karachi
368 Aslam Aziz Akhai Aslam Aziz Akhai 42201-4051658-9 Akhai Galenika 219 - 334 334 - - - 553 219 - 334 334 - - - 553
103/K Block 2 P E C H S
Shahrah E Quadeen
Karachi
369 Mansoor Javed Mansoor Javed 42301-8313662-3 Iqrar Hussain 487 - 727 727 - - - 1,214 487 - 727 727 - - - 1,214
H No 59/1 24Th Lane
Khayaban-E-Badban Dha
Phase 7 Karachi
370 Syed Hussain Afaq Syed Hussain Afaq 42101-8143345-5 Syed Afaq Hussain 300 - 459 459 - - - 759 300 - 459 459 - - - 759
A C B Pvt Ltd 7 Amber
Castle Block 6 Shahrah-E-
Faisal Karachi
371 Shamshad Ali Memon Shamshad Ali Memon 42201-4490411-9 M W Memon 391 - 586 586 - - - 977 391 - 586 586 - - - 977
Fl No 265/3 Zeenat
Terrace Apt No 301 Byjchs
14Th Street Bahadurabad
Karachi
372 Syed Ibne Hasan Syed Ibne Hasan 42101-8525951-3 Syed Hussain Mohd 370 - 565 565 - - - 935 370 - 565 565 - - - 935
House No R-570 Ancholi
Block 20 F B Area Karachi
373 Kaneez Sayida Kaneez Sayida 42101-7673976-8 Sed Abu Jaffer 200 - 308 308 - - - 509 200 - 308 308 - - - 509
Acb Pvt Ltd. 7-Amber
Castle Block-6 Shahrah-E-
Faisal Pechs Karachi
374 Abdul Rehman Khan Abdul Rehman Khan 42101-7048239-3 Abdul Rauf Khan 222 - 371 371 - - - 594 222 - 371 371 - - - 594
H/No B-172 Block L
Central North Nazimabad
Karachi

375 Alamzeb Khan Alamzeb Khan 42000-0494452-9 M Anwer Khan 215 - 321 321 - - - 536 215 - 321 321 - - - 536
H No : 39 , Street No : 2
Ahbab Colony , Thokar
Niaz Baig Lahore- 53700
Lahore
376 Muhammad Irshad Ullah Muhammad Irshad Ullah 42201-1296831-3 Muhammad Anayat Ullah 308 - 454 454 - - - 762 308 - 454 454 - - - 762
Qureshi Qureshi Qureshi
House No.32 Survey
No.464 Near Jannat Ul
Barkat Model Colony
Karachi
377 Syed Taufiq Ali Mosvi Syed Taufiq Ali Mosvi 42501-1509460-5 Syed Moharam Husain 301 - 461 461 - - - 761 301 - 461 461 - - - 761
Flat No A-78 Faraz Avenue
Rashid Minhas Roa
Gulistan-E-Johar Karachi
378 Sheikh Abdul Hafeez Sheikh Abdul Hafeez 42301-7311703-1 Sh Abdul Majeed 442 - 662 662 - - - 1,104 442 - 662 662 - - - 1,104
Punjab Engineering
Services 6-R B-12 M A
Jinnah Road South Karachi
379 Syed Musharaf Ali Naqvi Syed Musharaf Ali Naqvi 42101-9654868-7 Syed Moazam Ali 491 - 735 735 - - - 1,225 491 - 735 735 - - - 1,225
H No R-922 Block 20 F B
Area Karachi
380 Muhammad Sarwar Muhammad Sarwar 36501-1794937-3 Nazir Ahmed 341 - 534 534 - - - 875 341 - 534 534 - - - 875
A 322/2 Sector 11 G
Godara Colony New
Karachi ,Karachi
381 Wali Bhai Valika Wali Bhai Valika 42401-1987592-7 Najmuddin Wali Bhai Valika 219 - 331 331 - - - 550 219 - 331 331 - - - 550
Wali Bhai Valika 61-A New
Quues Road Lalazar Steet
No 4 Near Boat Club
Karachi
382 Syed Shahnawaz Ahmed Syed Shahnawaz Ahmed 42101-8810566-7 S Maqbool Ahmed 210 - 344 344 - - - 554 210 - 344 344 - - - 554
B-256 Block N North
Nazimabad Karachi
383 Ahmed Hussain Ahmed Hussain 42000-0518887-3 Mumtaz Hussain 374 - 544 544 - - - 918 374 - 544 544 - - - 918
New Indus Autos Part And
Car A Shop No 21 Rashid
Minhas Road Kda Flats Blk
10-A Gul-E-Iqbal Karachi
384 Mohammad Younus Karar Mohammad Younus Karar 42201-2749316-3 Tayyab Karar 361 - 547 547 - - - 908 361 - 547 547 - - - 908
Usmania Book Centre
Shop No 43-A New Urdu
Bazar Robson Road Urdu
Bazar Karachi
385 Basharat Ali Khan Basharat Ali Khan 37203-5332378-7 Malik Naseer 457 - 679 679 - - - 1,136 457 - 679 679 - - - 1,136
Fahad Cargo Services,
Gate 4 Quaid Azam Truck
Stand, St No A-654 Gole
Mkt Maripur, Hawksbay
Karachi
386 Ibrahim Abdullah Ibrahim Abdullah 42101-8040148-9 Abdullah Sheikh 500 - 752 752 - - - 1,253 500 - 752 752 - - - 1,253
Abdullah Enterprises 1-J
51/3 Nazimabad No 1
Karachi

387 Abdul Jabbar Abdul Jabbar 42101-1433194-3 Abdul Sattar 457 - 674 674 - - - 1,131 457 - 674 674 - - - 1,131
Friends Traders A-29/P
Site Near B P Bread Khi
,Karachi
388 Munir Ahmed Hashmi Munir Ahmed Hashmi 42101-2981746-7 Zahoor Ahmed Hashmi 493 - 710 710 - - - 1,203 493 - 710 710 - - - 1,203
Dehli Pakwan Centre
Hashmi Centre Sector 11-J
Up More North Nr Caltex
Pump Karachi
389 Malik Abdul Khaliq Malik Abdul Khaliq 42000-0381103-1 Malik Abdul Jalil 341 - 540 540 - - - 881 341 - 540 540 - - - 881
A-19, Block I, North
Nazimabad Karachi
390 Sheikh Muhammad Aqeel Sheikh Muhammad Aqeel 42000-6156658-7 Sheikh M Samir 351 - 546 546 - - - 897 351 - 546 546 - - - 897
Bangla D-7Rufi Green
Land Socity 13-A Shcme33
Abdul Hasanasfani Road
Karachi
391 Saqib Iqbal Saqib Iqbal 42201-7054208-7 M Iqbal Nagda 191 - 317 317 - - - 508 191 - 317 317 - - - 508
H No 133-A Sharfabad
Block 3 Karachi
392 Imran Rafi Imran Rafi 42101-5172675-3 Rafi Uddin 480 - 724 724 - - - 1,204 480 - 724 724 - - - 1,204
Rafi Marble Plot # 90
Alfateh Colony Chaman
Cinema Bara Board
Karachi
393 Khursheed Ali Ansari Khursheed Ali Ansari 42101-1764316-5 M Baksh Ansari 345 - 512 512 - - - 857 345 - 512 512 - - - 857
H No A/22 Sector 11B C/O
Azeem General Store
394 Muhammad Azeem Khan Muhammad Azeem Khan 42201-1491397-5 M Shafi Ul Qadr 500 - 737 737 - - - 1,237 500 - 737 737 - - - 1,237
Gulberg Decoration
Service C/17 Block 12
Gulberg F B Area Karachi
395 Muhammad Akram Muhammad Akram 42101-9886460-1 Abdul Haleem 257 - 404 404 - - - 661 257 - 404 404 - - - 661
H No B-209 Sector 11/B
396 Abdul Samad Abdul Samad 42201-0371566-3 Mohammad Siddique 215 - 339 339 - - - 554 215 - 339 339 - - - 554
Elegant Textile Industries
Ci-59-60 Sector 16-B North
Karachi Industrial Area
Karachi
397 Muhammad Akram Muhammad Akram 36302-3280323-7 Barkat Ali 338 - 675 675 - - - 1,013 338 - 675 675 - - - 1,013
H No 488/2 Ansar Colony
Main Bazar Multan
398 Khuram Saeed Khuram Saeed 36303-2588403-5 Muhammad Saeed 273 - 472 472 - - - 745 273 - 472 472 - - - 745
Mercolink Electronics
17777/52 Lmq Road
Chungi No 8 Multan
399 Muhammad Gohar Zaman Muhammad Gohar Zaman 36302-3985019-3 Munawar Ahmad Khan 195 - 307 307 - - - 502 195 - 307 307 - - - 502
H No10 Street N Block Z
New Multan
Multan.03007192069
Multan4550190

400 Sagheer Ahmed Sagheer Ahmed 36302-0334248-3 Muhammad Ramzan 285 - 470 470 - - - 756 285 - 470 470 - - - 756
H No 236 St No 6 Muhalla
Din Pura Samijabad No 1
Multan
401 Mirza Sultan Mehmood Mirza Sultan Mehmood 36302-2554218-9 Mirza Mukhtar Ahmed Baig 302 - 436 436 - - - 738 302 - 436 436 - - - 738
Baig Baig
H No 2161-W8M Muhalla
Cheeta Wan Shah Rassal
Road Multan
402 Fayyaz Ul Hassan Fayyaz Ul Hassan 34603-7209250-9 Ch Muhammad Ishaq 451 - 699 699 - - - 1,150 451 - 699 699 - - - 1,150
W S Farms New Mubarik
Pura Rodas Road Road
Sialkot Sialkot
403 Ali Faroqq Cheema Ali Faroqq Cheema 34603-4833812-7 Farooq Ahmed Cheema 339 - 524 524 - - - 862 339 - 524 524 - - - 862
Sardar Pak Daska Road,
Nr,Tata Factory, ,Sialkot
404 Bilal Bashir Bilal Bashir 34603-9479420-9 Muhammad Bashir 389 - 617 617 - - - 1,006 389 - 617 617 - - - 1,006
King Z Sports Kashmir
Road, Sublime Chowk,
,Sialkot
405 Umer Farooq Cheema Umer Farooq Cheema 34603-3583001-7 Choudhary Farooq Ahmed 197 - 313 313 - - - 510 197 - 313 313 - - - 510
Sardar Pak Po Box No 20, Cheema
Daska Road,Nr Recto
Sports, ,Sialkot
406 Ejaz Ahmad Ejaz Ahmad 34603-5446143-3 Muhammad Nawaz 291 - 420 420 - - - 711 291 - 420 420 - - - 711
Ejaz Brothers Muhalla Haji
Pura Fateh Garh Road
Sialkot
407 Rehan Iqbal Rehan Iqbal 34603-6803925-1 Sheikh M Iqbal 300 - 465 465 - - - 765 300 - 465 465 - - - 765
New Decent Medicose 33
Ali Park New Civil Line Pak
Pura Sialkot
408 Rizwan Iqbal Rizwan Iqbal 34603-6802975-1 Muhammad Iqbal 308 - 478 478 - - - 785 308 - 478 478 - - - 785
New Decent Medicose 33-
Ali Park New Civil Line Pak
Pura Sialkot
409 Muhammad Ali Raza Muhammad Ali Raza 34603-0434281-1 Muhammad Irshad 202 - 323 323 - - - 524 202 - 323 323 - - - 524
Mekasomed Enterprises St
No 2 Muhalla Islamabad
Ugoki O-O Khas Sialkot
410 Jamshed Ali Jamshed Ali 45402-2000384-5 Ghulam Rasool 402 - 622 622 - - - 1,024 402 - 622 622 - - - 1,024
Nazeer Xray And
Ultrasound Masjid Road
Jamia Masjid ,Nawabshah
411 Intzar Hussain Intzar Hussain 42101-3758542-1 Nizam Ul Din 196 - 326 326 - - - 522 196 - 326 326 - - - 522
Talah And Shaikh Brothers
Station Road Sakrand
,Nawabshah
412 Sharif Ud Din Sharif Ud Din 45403-0793753-9 Moin Uddin 464 - 742 742 - - - 1,206 464 - 742 742 - - - 1,206
Village Tali P/O Taluka
Sakran D Taluka Sakrand
Nawabshah
413 Shakeel Ahmed Shakeel Ahmed 45402-7513523-3 Basher Ahmed 249 - 415 415 - - - 664 249 - 415 415 - - - 664
Grace Silk Centre Tayaba
Shop No 10 Katchery
Road ,Nawabshah

414 Nadeem Muzaffar Nadeem Muzaffar 37301-2343251-1 Muzaffar Hussain Qureshi 176 - 425 425 - - - 601 176 - 425 425 - - - 601
H No F-52 Mohalla Neha
Bazar, Jehlum ,Jhelum
415 Syed Raza Hussain Shah Syed Raza Hussain Shah 34203-7819228-5 Syed Shahzada Hussain 202 - 324 324 - - - 527 202 - 324 324 - - - 527
Syed Traders Railway Line Shah
Saray Alamgir ,Jhelum
416 Imran Safdar Imran Safdar 37301-2277326-3 Safdar Ali Khan 232 - 349 349 - - - 581 232 - 349 349 - - - 581
S R Traders Lahore More
Jhelum ,Jhelum
417 Hafiz Waqas Mazhar Hafiz Waqas Mazhar 34202-5075757-3 Muhammad Mazhar 202 - 323 323 - - - 525 202 - 323 323 - - - 525
Shaikh Communication Hussain
Ufone Dea Gt Road Dina
,Jhelum
418 Khawar Mushtaq Chisti Khawar Mushtaq Chisti 31202-8141901-9 Muhammad Mushtaq 205 - 305 305 - - - 510 205 - 305 305 - - - 510
H No B-Iii-1761, Chishti Hussain Chist
Lodge, Mohalla Chishtian,
,Bahawalpur
419 Shahzad Ahmed Shahzad Ahmed 34101-3494036-1 Sarfaraz Ahmed 338 - 518 518 - - - 856 338 - 518 518 - - - 856
Aero Pak 6-A Trust Plaza
Gt Road Gujranwala
420 Muhammad Kashif Muhammad Kashif 34101-2729673-3 Muhammad Aslam 243 - 380 380 - - - 623 243 - 380 380 - - - 623
Kashif And Brothers
Mineral Tr Deuora Phatak
Gt Road Gujranwala
421 Naveed Asghar Naveed Asghar 34101-6455041-5 Asghar Ali Cheema 206 - 307 307 - - - 513 206 - 307 307 - - - 513
H.49 Cb Bazar Area
Gujranwala Cantt
Gujranwala Gujranwala
422 Muhammad Munir Muhammad Munir 34101-9106430-1 Muhammad Nazeer 294 - 449 449 - - - 744 294 - 449 449 - - - 744
H No 8 Gali Iqra School
Wali Shaheen Abad P O
Climax Abad Gujranwala
423 Chaudhay Khuram Shah Chaudhay Khuram Shah 34101-2458031-5 Shahnawaz Chaudhary 265 - 389 389 - - - 654 265 - 389 389 - - - 654
Nawaz Nawaz
Al Hamd Traders Al Hamd
Group Gill Road Hameed
Colony ,Gujranwala
424 Mujahid Iqbal Mujahid Iqbal 34101-2632687-9 Muhammad Ashraf 245 - 371 371 - - - 616 245 - 371 371 - - - 616
Alvi Steel Decorater Alvi
Gril Maker Main Gt Road
Mor Eminabad Nr Railway
Cros,Gujranwala
425 Muhammad Rafaq Muhammad Rafaq 34101-4349000-3 Muhammad Younis 248 - 366 366 - - - 614 248 - 366 366 - - - 614
Younas & Sons Usman
Colony,St.4,Galla Patwar I
Wala,Noshera Road,
Gujranwala
426 Muhammad Fakhr Ul Muhammad Fakhr Ul 36402-5151984-7 Sardar Nawazish Ali 219 - 322 322 - - - 541 219 - 322 322 - - - 541
Zaman Dogar Zaman Dogar
Zaman Grain Market
Pakpattan ,Sahiwal
427 Ghulam Safdar Ghulam Safdar 36402-8480735-3 Nawab 198 - 318 318 - - - 516 198 - 318 318 - - - 516
Gulsan Farid Colony
Raliway Road H No 2 Gali
No 2 Pakpattan

428 Jamshaid Bashir Jamshaid Bashir 36502-3493021-9 Bashir Ahmed 424 - 614 614 - - - 1,038 424 - 614 614 - - - 1,038
H No 350 St B-Vii Fateh
Shair Colony Sahiwal
429 Saleem Hashmat Saleem Hashmat 42201-7613715-3 Kanwer Hashmat 483 - 712 712 - - - 1,195 483 - 712 712 - - - 1,195
Indus Tv Network 3Rd
Floor Shafi Courts
Meriwethar Road Saddar
Karachi
430 Syed Zeeshan Abbas Syed Zeeshan Abbas 42101-1421211-5 Syed Nisar Abbas 326 - 501 501 - - - 827 326 - 501 501 - - - 827
H No R-604 Sector 15-A-4
Buffer Zone North Karachi,
Karachi
431 Shaikh Abdul Rahim Shaikh Abdul Rahim 42201-2315997-3 Abdul Rasheed 231 - 367 367 - - - 598 231 - 367 367 - - - 598
Plastic Technology Centre
College Of Polymer
Engineering St-2/1 Sec 30
Korangi I Area Karachi
432 Mirza Raza Amir Mirza Raza Amir 42201-1088114-7 Mirza M Hassan 206 - 331 331 - - - 537 206 - 331 331 - - - 537
H No R-144 Block 6
Gulshan-E-Iqbal Karachi
433 Missbha Ud Din Missbha Ud Din 42201-0739347-5 Ashfaq Ahmad Kharimi 260 - 396 396 - - - 655 260 - 396 396 - - - 655
1St Floor, 287,P.I.B Colony
,Karachi
434 Syed Yawar Abbas Syed Yawar Abbas 42101-0479818-5 Syed Nissaer Abbas 422 - 633 633 - - - 1,056 422 - 633 633 - - - 1,056
H No R-604 Sector 15-A-4
Buffer Zone North Karachi
,Karachi
435 Muhammad Rashid Khan Muhammad Rashid Khan 42000-4592277-3 Vilayat Khan 213 - 333 333 - - - 546 213 - 333 333 - - - 546
Banglow No 57 Sheet No
22 Model Colony Malir
Karachi
436 Irfan Sattar Irfan Sattar 42201-0593918-5 Abdul Sattar 404 - 598 598 - - - 1,002 404 - 598 598 - - - 1,002
H No B-52 City Homes
Block 13-D-2 Gulshan-E-
Iqbal ,Karachi
437 Moona Farhan Moona Farhan 42201-1643152-4 Muhammad Farhan 502 - 775 775 - - - 1,277 502 - 775 775 - - - 1,277
332-334 2Nd Floor Fl No 3 Qureshi
Qasi Center Block 2 Pechs
,Karachi
438 Mushtaq Ali Jivani Mushtaq Ali Jivani 42301-0847957-1 Hussain Ali 502 - 753 753 - - - 1,255 502 - 753 753 - - - 1,255
Flat No C-106 Ml Paradise
Nishter Park Solder Bazar
No 2 ,Karachi
439 Mohammed Junaid Mohammed Junaid 42201-9461111-9 Muhammad Saleem 252 - 399 399 - - - 651 252 - 399 399 - - - 651
Decent Cars 148-A Alama
Iqbal Road Block 2 Pechs
Karachi
440 Muhammad Imran Muhammad Imran 42201-9329481-7 Muhammad Suleman 286 - 464 464 - - - 750 286 - 464 464 - - - 750
H No B-1/2 Block A
Kazimabad Model Colony
,Karachi
441 Syed Tahir Hasan Syed Tahir Hasan 42101-0331090-9 S Azhar Hasan 260 - 432 432 - - - 691 260 - 432 432 - - - 691
Tahir Furniture Plot No C-7
Ishaqabad Sir Shah
Suleman Road F B Area
Karachi

442 Muhammad Imran Kayani Muhammad Imran Kayani 42201-0609905-7 M Sabir Kayani 503 - 806 806 - - - 1,309 503 - 806 806 - - - 1,309
Pak Autos 78 - C 22
Commercial Street Dha
Phase 2 Extension Karachi
443 Mohammad Amin Mughal Mohammad Amin Mughal 42301-0800937-9 Allah Dita 222 - 359 359 - - - 581 222 - 359 359 - - - 581
Plot No 385 No 5 Allama
Iqbal Colony
Mehmoodabad Karachi
444 Farhan Ibrahim Farhan Ibrahim 42101-1554481-3 Ibrahim 347 - 555 555 - - - 902 347 - 555 555 - - - 902
Flat No A 38 Block 20
Mazia Square Al Noor
More F B Area Karachi
445 Syed Imtiaz Ul Haq Syed Imtiaz Ul Haq Bukhari 42201-2983522-1 Anzar Ul Haq 395 - 638 638 - - - 1,033 395 - 638 638 - - - 1,033
Bukhari
C-26 Block No 6 Gulshan
E Iqbal Karachi
446 Muhammad Zia Khalil Muhammad Zia Khalil 42201-6524810-7 Muhammad Khalil 442 - 678 678 - - - 1,120 442 - 678 678 - - - 1,120
Khalil Packages L-29/B
Block 21 F B Industrial
Area Karachi
447 Asif Moin Asif Moin 42101-8147430-9 Moin Ud Din 494 - 758 758 - - - 1,252 494 - 758 758 - - - 1,252
H No R-555 Sector 15-B
Karachi
448 Abdul Raheem Johar Abdul Raheem Johar 31101-1663240-3 Muhammad Shoaib 220 - 468 468 - - - 688 220 - 468 468 - - - 688
North Communication Near Paracha
Data Flying Coach
Bahawalnagar
449 Abdul Qadir Abdul Qadir 42201-0469800-7 Qazi Abdul Malik 503 - 806 806 - - - 1,308 503 - 806 806 - - - 1,308
A-9 Rehmanabad Near Al
Noor Biryani Centre Drigh
Road Karachi
450 Kamran Hussain Kamran Hussain 42101-8037228-3 Zahoor Hussain 502 - 780 780 - - - 1,282 502 - 780 780 - - - 1,282
Quality Car Decoration
Point Shop No 3 Al Siraj
Square Block 14 F B Area
Karachi
451 Riaz Ahmed Riaz Ahmed 42401-1945091-1 Abdul Ghafoor 502 - 739 739 - - - 1,241 502 - 739 739 - - - 1,241
Millat Book Point Shop No
493-1 Bangla Bazar Sec
15-A Orangi Town Karachi
452 Syed Aamir Iqbal Syed Aamir Iqbal 42101-0276643-1 Syed Iqbal Hussain 502 - 778 778 - - - 1,280 502 - 778 778 - - - 1,280
Quality Textile Plot No 240
11-E Orangi Town ,Karachi
453 Muhammad Tasneem Ul Muhammad Tasneem Ul 42101-1108324-5 Muhammad Zaheer Ul Haq 336 - 543 543 - - - 879 336 - 543 543 - - - 879
Haq Haq
Flat No B-18 Nadeem
Arcade 4 Th Floor
Shadman Town Sec 14-B
North Nazimabad Town
Karachi
454 Raja Jawed Sultan Raja Jawed Sultan 42101-3099261-1 Raja Muhammad Inyat 502 - 790 790 - - - 1,292 502 - 790 790 - - - 1,292
H No 739/19 Al Noor Khan
Socieity F B Area ,Karachi

455 Altaf Hussain Altaf Hussain 35201-1690262-7 Gulam Hussain 490 - 734 734 - - - 1,223 490 - 734 734 - - - 1,223
Arsal Metal Scarp Plot No
125 Gali No 11 Block A
Sher Shah Karachi
456 Khawaja Zaheer Ahmed Khawaja Zaheer Ahmed 42101-1416840-3 Khawaja Nazeer 307 - 484 484 - - - 791 307 - 484 484 - - - 791
Fl No A-31 4Th Floor
Noman Avenue Rashind
Minhas Gulistan-E-Johar
Karachi
457 Adnan Adnan 42101-1847436-5 Fazal Mehmood 470 - 743 743 - - - 1,212 470 - 743 743 - - - 1,212
H No R-101 Block 5
Azizabad F B Area Karachi
458 Muhammad Anis Muhammad Anis 42101-1938382-9 Mohammad Hanif 329 - 618 618 - - - 947 329 - 618 618 - - - 947
H No 4/377 Street 4
Liaquatabad Karachi
459 Shaikh Mohammad Yousuf Shaikh Mohammad Yousuf 42101-7289624-9 Shaikh Mohammad Younus 502 - 767 767 - - - 1,269 502 - 767 767 - - - 1,269
Abbasi Shaheed Chemist,
Shop No.3-8-8/39, Near
Abbasi Shaheed Hospital,
Karachi
460 Ahmed Mehmood Bangee Ahmed Mehmood Bangee 42101-1750319-5 Mahmood Dawood 434 - 690 690 - - - 1,124 434 - 690 690 - - - 1,124
Ahmed Mamoojee Bangee
9/5 Qazi Court Bldg
Boulton Market Road
Karachi
461 Muhammad Aamir Muhammad Aamir 42401-3263428-5 Muhammad Abdul Rehman 190 - 312 312 - - - 503 190 - 312 312 - - - 503
Khurshid Malik Khurshid Malik
Rehman Interpreises Shop
No 1410 Chalias Ka Road
Sector 8-L Orangi Town
Karachi
462 Abdul Sattar Abdul Sattar 42101-1809933-9 Iqrar Hussain 490 - 761 761 - - - 1,251 490 - 761 761 - - - 1,251
Sattar Brothers Plot No C-
6 Ishaqabad Shah
Suleman Road
Liaquatabad Karachi
463 Hassan Sardar Hassan Sardar 42201-6786905-9 Sardar Ali 495 - 729 729 - - - 1,225 495 - 729 729 - - - 1,225
43-C Scheme 33 Block 1A
Gulistan-E-Johar ,Karachi
464 Momen Khan Momen Khan 42201-3515741-5 Mohammad Ghani 223 - 346 346 - - - 569 223 - 346 346 - - - 569
Momen Khan Block And
Tile Beam Plot No 7 St /7
Universal Town Korangi
No 1-1/2 Pappan
Chowk,Karachi
465 Mohammad Saleem Mohammad Saleem 42101-1189824-7 Mohammad Ismail 323 - 518 518 - - - 842 323 - 518 518 - - - 842
H No R-122 Sector 15 A-3
,Karachi
466 Nain Ul Raza Shabbir Nain Ul Raza Shabbir 42201-2933242-5 Shabbir Ahmed Qazi 433 - 685 685 - - - 1,118 433 - 685 685 - - - 1,118
Mobiles Point,Shop No A-1
Saima Drivein Mob Elec
Mall Adj Honda Sh.Room
Rashid Minhas Rd Karachi

467 Afzal Mehmood Khan Afzal Mehmood Khan 42101-2958411-3 Muhammad Mahmood 504 - 782 782 - - - 1,287 504 - 782 782 - - - 1,287
H No R-421 Sector 14-A Khan
Shadman Town North
Nazimabad ,Karachi
468 Muhammad Nasir Muhammad Nasir 42401-2630782-5 Abdul Habib 483 - 769 769 - - - 1,252 483 - 769 769 - - - 1,252
H No 63 Sector 6-C Orangi
Town Karachi
469 Muhammad Adeel Irshad Muhammad Adeel Irshad 42101-1797703-7 Irshad Ahmed Qureshi 494 - 742 742 - - - 1,236 494 - 742 742 - - - 1,236
Ishaq Brothers Jewellers 5-
A-12/17-1 Sarafa Bazar
Paposh Nagar, Nazimabad
Karachi
470 Malik Muhammad Shakil Malik Muhammad Shakil 35202-5832996-1 448 - 669 669 - - - 1,116 448 - 669 669 - - - 1,116
Plot No-D/17, Shop No-I &
3 Shah Faisal Colony No-1
Eat Karachi
471 Muhammad Ejaz Taimori Muhammad Ejaz Taimori 42201-0450171-9 Bidar Bukht 502 - 779 779 - - - 1,282 502 - 779 779 - - - 1,282
Fl No A-102 Block A Prime
Arcade Metrovil 3Rd Blk
Gulzar-E-Hijri Karachi
472 Muhammad Saleem Muhammad Saleem 42301-9242268-3 Ghulam Mohammad 329 - 556 556 - - - 885 329 - 556 556 - - - 885
Fl No 9/10 1St Floor
Romaan Building Robson
Road Burns Road Karachi
473 Mohammad Saleem Mohammad Saleem 42101-3640528-3 Abdul Qadir 355 - 558 558 - - - 913 355 - 558 558 - - - 913
5,C/2 L 399. Bilal Town
North Karachi ,Karachi
474 Sikander Ali Khan Sikander Ali Khan 42501-6897696-5 Abdul Ghaffar 418 - 640 640 - - - 1,058 418 - 640 640 - - - 1,058
B 52/1 Malir Khokharapar
No 5 ,Karachi
475 Iftikhar Ahmed Baqai Iftikhar Ahmed Baqai 42301-0754508-9 Anzar Ahmed 256 - 398 398 - - - 653 256 - 398 398 - - - 653
House No.106-H,First
Floor, Block:2,P.E.C.H.S,
Distt.East, Karachi
476 Sohail Muhammad Qureshi Sohail Muhammad Qureshi 42201-2957437-9 Aamer Mohammad Qureshi 473 - 732 732 - - - 1,204 473 - 732 732 - - - 1,204
H No 24 Coustodin Area
Old Sabzi Mandi No 2
,Karachi
477 Mohd Naeem Ud Din Mohd Naeem Ud Din 42101-1704220-7 Ghulam Moinuddin 244 - 390 390 - - - 633 244 - 390 390 - - - 633
Sidque Sidque
Naimuddin And Company
Suit No 10 Ebrahim
Building West Wharf Road
Karachi
478 Sheikh Abdul Rehman Sheikh Abdul Rehman 42301-4507311-5 Sheikh Ihsan Ellahi 490 - 741 741 - - - 1,231 490 - 741 741 - - - 1,231
Rehman Traders Off 45
Hemani Center,Bottle
Street Shahrah-E-
Liaquat,Light House
Karachi

479 Pervaiz Iqbal Zahid Pervaiz Iqbal Zahid 33100-0945243-9 Abdul Ghani 301 - 464 464 - - - 765 301 - 464 464 - - - 765
14-Shaheed -E-Millat
Market Near Millat Chowk
Sheikupura Road
Faisalabad Faisalabad
480 Waseem Ahmad Waseem Ahmad 33100-3470946-3 Ch Abdul Rasheed 492 - 734 734 - - - 1,225 492 - 734 734 - - - 1,225
H No 181 Block-C Gulberg
Colony Faisalabad
481 Muhammad Naeem Muhammad Naeem 33100-8060994-1 Wazir Ali 278 - 568 568 - - - 846 278 - 568 568 - - - 846
Al Madina Oxygen Gas
Works Opp Crecent Textile
Mills Sargodha Road
Faisalabad
482 Muhammad Iftikhar Muhammad Iftikhar 33100-3182124-1 Nayaz Muhammad 447 - 638 638 - - - 1,085 447 - 638 638 - - - 1,085
Sun Gas Distributor P-72-A
St No 3 Officer Colony No
2 Faisalabad
483 Imtiaz Ahmad Imtiaz Ahmad 33100-3299091-3 Abdul Majeed 210 - 330 330 - - - 540 210 - 330 330 - - - 540
Abdul Rasheed & Abdul
Majeed & Shop No 37
Rehmania Road Old Fruit
Vegitable Market
Faisalabad
484 Muzifuddin Muhammad Muzifuddin Muhammad 35200-8575195-1 Syed Safir Udine 251 - 392 392 - - - 643 251 - 392 392 - - - 643
Faisal Faisal
Warid Telecom Ahmed
Arcade Canal Road
Abdullah Pur Faisalabad
485 Muhammad Ilyas Muhammad Ilyas 33100-1108397-5 Bashir Ahmad 420 - 619 619 - - - 1,039 420 - 619 619 - - - 1,039
H No P-104 St No 1
Kehkashan Colony No 2
Hassan Park Juranawala
Road Faisalabad
486 Abdul Sattar Shahid Abdul Sattar Shahid 35303-6748636-9 Bashir Ahmad Bhatti 297 - 463 463 - - - 760 297 - 463 463 - - - 760
H No P-188 St No 3 Ali
Block Haseeb Shaheed
Colony Faisalabad
487 Nisar Ahmad Malik Nisar Ahmad Malik 33100-0989432-3 Malik Abdul Haq Kamil 403 - 626 626 - - - 1,029 403 - 626 626 - - - 1,029
Kamil Ahsan Foundaion
Secondar H No 309-A
Gulberg National Hospital
Faisalabad
488 Muhammad Nawaz Muhammad Nawaz 33100-0710411-3 Rashid Ahmad 297 - 449 449 - - - 746 297 - 449 449 - - - 746
H No P-193 St No 11
Ayoub Colony Jhang Road
Faisalabad
489 Muhammad Ashiq Muhammad Ashiq 33100-3893874-1 Noor Muhammad 303 - 449 449 - - - 752 303 - 449 449 - - - 752
H No P-18/4 Kothian Wali
Gali Partab Nagar Jhang
Road Faisalabad
490 Shamim Akhtar Shamim Akhtar 33100-2673525-4 Rana Ali Ahmed 377 - 546 546 - - - 924 377 - 546 546 - - - 924
H No 302/8 St No 8 Nemat
Colony No 2 Faisalabad
491 Feryad Ali Feryad Ali 33100-0637264-5 Abdul Rehman 202 - 312 312 - - - 514 202 - 312 312 - - - 514
H No P-423 St No 5/3
Feroz Shah Feroz Shah
224 Munshi Fateh Di
Faisalabad

492 Muhammad Naveed Muhammad Naveed Razaq 33100-6357979-9 Muhammad Razaq 202 - 307 307 - - - 509 202 - 307 307 - - - 509
Razaq
Nabil Jewellers Sh No 1 St
No 5 Begum Market
Anarkali Bazar Makka
Jewellers,Faisalabad
493 Malik Talib Hussain Malik Talib Hussain 33102-4553005-7 Malik Abdul Ghani 303 - 485 485 - - - 788 303 - 485 485 - - - 788
Shama Trading/Ms 7
Group P-1320/21 Block D-
A Ghulam Muhammad
Abad Faisalabad
494 Sohail Akhter Tipoo Sohail Akhter Tipoo 61101-0295144-9 Akhter Baig 215 - 335 335 - - - 549 215 - 335 335 - - - 549
Carbon Cube
Technologies Suite
No.20,Ist Floor,Capital
Plaza,Behind Pso Gas
Station Markaz G-11,
Islamabad
495 Nasir Hussain Nasir Hussain 61101-4083051-1 Sheikh Tassaduq Hussain 192 - 406 406 - - - 598 192 - 406 406 - - - 598
E-Mart Shop G-
05,Panorama Cent Double
Rd,Cricket Stadium
Rawalpindi
496 Muhammad Ilyas Sheikh Muhammad Ilyas Sheikh 61101-5058257-7 Sheikh Abdul Latif 482 - 677 677 - - - 1,159 482 - 677 677 - - - 1,159
Latif Medical Centre Trade
Centre F-11 Markaz
Islamabad
497 Ausaf Manzoor Ausaf Manzoor 61101-2780889-7 Khawaja Ahmed Manzoor 203 - 316 316 - - - 519 203 - 316 316 - - - 519
Member Co Ordination
Overseas Wing National
Bureau Ata Turk Avenue G-
5/2 Islamabad
498 Malik Zulfiqar Ahmed Malik Zulfiqar Ahmed 61101-5487395-5 Malik Mir Mohammad 270 - 403 403 - - - 673 270 - 403 403 - - - 673
Rawalpindi College Of
Commerce Off No F-746
Satellite Town Rawalpindi
499 Shafqat Ullah Malik Shafqat Ullah Malik 61101-0645804-3 Faqir M Malik 416 - 626 626 - - - 1,042 416 - 626 626 - - - 1,042
Flat No 2-B Bazar No 11 I-
10/4 Near Javed Market
Islamabad
500 Raja Fazal Hussain Raja Fazal Hussain 61101-8323776-3 Raja Muhammad Ameer 414 - 644 644 - - - 1,058 414 - 644 644 - - - 1,058
Cave Off No 1-B Awan
Arcade Jinnah Avenue
Blue Area ,Islamabad
501 Sajad Ali Pirzado Sajad Ali Pirzado 43203-4117885-9 Ali Muhammad Pirzado 256 - 411 411 - - - 668 256 - 411 411 - - - 668
Ali Movies Video Market
Resham Gali ,Larkana
502 Imranullah Imranullah 43203-9417865-7 Abdullah Abro 493 - 742 742 - - - 1,236 493 - 742 742 - - - 1,236
Imran Paint House Bank Al
Falah Bander Road
,Larkana
503 Abdul Khalique Qureshi Abdul Khalique Qureshi 41306-1111377-7 Qamar Uddin Qureshi 502 - 753 753 - - - 1,255 502 - 753 753 - - - 1,255
Banglow No 1 Street No 1
Srtc Colony Thandi Sarak
Hyderabad
504 Muhammad Shakir Muhammad Shakir 41303-4277041-9 Islam Uddin 486 - 744 744 - - - 1,230 486 - 744 744 - - - 1,230
Variety Shoes Store Shop
2581 Seright Road
Hyderabad

505 Husnain Raza Sayni Husnain Raza Sayni 41303-2173976-9 Ameer Ali 204 - 313 313 - - - 517 204 - 313 313 - - - 517
New Hussaini Furnitures
Shop 15/A Ground Floor Al
Amna Complex Alamgir
Road Hyderabad
506 Rafaquat Ali Asghar Ali Rafaquat Ali 41303-2342569-9 Shafquat Ali 394 - 621 621 - - - 1,015 394 - 621 621 - - - 1,015
M/S Faizan-E-Fareed Cloth Asghar Ali
Stor Shop 181-182 Azeem
Us Shan New Cloth Market
,Hyderabad
507 Imtiaz Hussain Tunio Imtiaz Hussain Tunio 41306-0862873-3 Sahib Dino 292 - 449 449 - - - 741 292 - 449 449 - - - 741
Imtiaz Hussain And Imtiaz Hussain Tunio
Brothers Ge Shop No 1 Ali
Palace Road Qasimabad
,Hyderabad
508 Ilamud Din Keerio Ilamud Din Keerio 45205-4950879-1 Muhammad Wazir Keerio 474 - 715 715 - - - 1,188 474 - 715 715 - - - 1,188
Faisal Builders Shop No B-
28 Ground Floor Gmb
Colony Qasimabad Mary
Land Hosp,Hyderabad
509 Imran Ali Imran Ali 44203-9391107-1 Ghulam Qadir 219 - 335 335 - - - 554 219 - 335 335 - - - 554
Contact Plus Dept
Marketing Banglow No
A/45 Unit No 3 Latifabad
Hyderabad
510 Muhammad Pervaiz Muhammad Pervaiz 38403-8568180-9 Allah Ditta 196 - 304 304 - - - 500 196 - 304 304 - - - 500
H No 271 St No 3 Masjid
Sadiq Akbar Muqaam E
Hayat Sargodha
511 Muhammad Imran Khan Muhammad Imran Khan 38403-2064240-5 Abdul Rauf Khan 292 - 453 453 - - - 745 292 - 453 453 - - - 745
H No 15/7, Block Z Iqbal
Colony Sargodha
512 Sabir Ali Sabir Ali 38403-9928925-7 Rao Nasir Ali 203 - 301 301 - - - 505 203 - 301 301 - - - 505
Info Tech Systems
Services 91-Ground Flr
Trust Plaza Sharja Mobile
,Sargodha
513 Muhammad Nadeem Muhammad Nadeem 35201-1443768-7 Munawar Hussain Shahzad 287 - 432 432 - - - 719 287 - 432 432 - - - 719
Shahzad Bhatti Shahzad Bhatti
Iqra Traders Chowk Block
No 20 Nr Younis Tika Shop
,Sargodha
514 Babar Zulfiqar Babar Zulfiqar 38403-2221053-3 Zulfiqar Ali 223 - 330 330 - - - 553 223 - 330 330 - - - 553
H No 229 Gali No 4
Gulshan Hayat Colony
Near Civil Hospital
Sargodha
515 Yasir Adeel Yasir Adeel 38403-2237390-3 Shaikh Majeed Ahmed 233 - 368 368 - - - 601 233 - 368 368 - - - 601
91 Near Road Grain
Market Sargodha
516 Muhammad Hafeez Ur Muhammad Hafeez Ur 38401-0305966-9 Mehboob Ahmad 297 - 440 440 - - - 736 297 - 440 440 - - - 736
Rehman Rehman
New Malik Medical Store
Block 1 Post Office Road
Tma Chowk,Sargodha

517 Muhammad Waqas Shafi Muhammad Waqas Shafi 38403-4143244-7 Muhammad Shafi 199 - 303 303 - - - 502 199 - 303 303 - - - 502
H No 100,St No 3 Canal
Park Sarogodha
518 Asim Shehzad Asim Shehzad 37201-1787246-3 Manzoor Hussain 502 46 - 46 34 - 34 583 502 46 - 46 34 - 34 583
Chak Umra Post Office
Khas Chakwal
519 Siddique Aslam Siddique Aslam 35202-6097017-5 Mohammad Aslam Gondal 439 61 - 61 16 - 16 516 439 61 - 61 16 - 16 516
Building # 13-C, Street # 3
2Nd Floor Small Bhukhari
Commercial Dha Phase Vi
520 Sh M Shafi Sh M Shafi 35202-1783443-5 Abdul Ghani 484 57 - 57 13 - 13 554 484 57 - 57 13 - 13 554
5 Canal Park Gulberg Ii
521 Ali Raza Cheema Ali Raza Cheema 33100-3794977-7 Shukat Ali Chima 509 68 - 68 24 - 24 601 509 68 - 68 24 - 24 601
H No P 275 Main Road
Sarfraz Colony
522 Nasim Ahmed Nasim Ahmed 42301-2904036-5 Manzoor Ul Haq 486 59 - 59 18 - 18 562 486 59 - 59 18 - 18 562
H No 41-A/2 11Th Street
Phase 2 Dha South
523 Tauqir Hussain Tauqir Hussain 35201-1494766-5 M Hussain Shah 455 46 - 46 12 - 12 513 455 46 - 46 12 - 12 513
H No 334 Block X Dha
-
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
Annexure 'C' As Referred to in Note 11.7 of
Unconsolidated Financial Statements
Disposals of operating fixed assets during the year 2016
Cost Accumulated Book Sale Mode of Particulars of Buyers

depreciation value proceeds disposal
--------------(Rupees in '000)--------------
Items having book value of more than Rs. 250,000
or cost of more than Rs. 1,000,000
Land & Building

Freehold 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 39,500
Vehicles
Mercedes Benz CGI 8,713 7,841 872 1,743 Buy Back Aameer Karachiwalla - Employee
Mercedes Benz CGI 8,766 7,889 877 1,753 Buy Back Muhammad Ejazuddin - Employee
Mercedes Benz CGI 8,731 7,857 874 1,746 Buy Back Aqeel Ahmed Nasir - Employee
Honda 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 1,309 1,178 131 706 Auction Sultan Hassan Khan
#### Toyota Corolla 1,014 913 101 880 Auction Said Faqir
#### Honda Civic 1,043 939 104 770 Auction Zahid Qadri
#### 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 1,411 1,270 141 939 Auction Muhammad Nasir Khan
#### Toyota Corolla 1,389 1,250 139 1,021 Auction Khalid Anwar
#### Toyota Corolla 1,324 1,192 132 1,013 Auction Sultan Zaib
#### Suzuki Jimmy 1,857 1,857 - 978 Auction Muhammad Siddiuqe
57,206 51,673 5,533 27,610
Electrical, office and

computer equipment
Atm Machine 1,014 1,014 - 104 Auction Innovative Pvt Ltd
Atm Machine 892 260 632 104 Auction Innovative Pvt Ltd
Generator 2,151 2,151 - 523 Auction Alhaj Global
12,169 11,537 632 1,569
Items having book value of less than Rs. 250,000

and 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

U BL Financial Statements Dec 16 Stand Alone

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

U BL Financial Statements Dec 16 Stand Alone

Uploaded by

Copyright:

Available Formats

United Bank Limited

UNCONSOLIDATED FINANCIAL STATEMENTS

Standalone Results - Rs. in billion Financial Highlights

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

to strengthen the overall revenue profile of the 7%

Rs. in billions Balance Sheet Management

Strong Capital Ratios

Best Bank 2016

Subsidiaries & Associates

Statement under Clause XVI of the Code of Corporate Governance

 Proper books of account of the Bank have been maintained.

 International Financial Reporting Standards, as applicable to banks in Pakistan, have

Board Audit Committee (BAC):

1. Mr. Arshad Ahmad Mir Chairman

Board Risk and Compliance Committee (BRCC):

1. Mr. Zameer Mohammed Choudrey, CBE Chairman

Human Resource & Compensation Committee (HRCC):

1. Mr. Khalid A. Sherwani Chairman

BAC BRCC HRCC

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

Name of the Director Designation Meetings attended

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

The aggregate shares held by the following are:

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

Risk Management Framework

Statement of Internal Controls

For and on behalf of the Board,

Sir Mohammed Anwar Pervez, OBE, HPk

February 17, 2017

Note 2016 2015

Operating fixed assets 11 35,581,758 31,630,374

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

Surplus on revaluation of assets - net of deferred tax 20 34,844,288 36,268,414

CONTINGENCIES AND COMMITMENTS 21

Note 2016 2015

Mark-up / return / interest earned 23 98,219,214 94,352,931

Provision against loans and advances - net 10.3 504,901 3,058,621

Non mark-up / return / interest income

Non mark-up / return / interest expenses

Taxation - Current 31 14,898,709 15,042,952

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

Earnings per share - basic and diluted 32 22.65 21.02

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)

Exchange differences on translation of net investment

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

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

Note 2016 2015

CASH FLOW FROM INVESTING ACTIVITIES

NET CASH OUTFLOW FROM FINANCING ACTIVITIES