KARACHI, Aug 25: The Union Bank has proposed 15 per cent bonus shares i.e. 15 shares for every 100 shares held for the six months period ended on June 30, 2005. The board of directors of the bank considered the un-audited financial results in its meeting held here on Thursday.

The bank during the six months period enhanced its paid-up capital by 25 per cent and earned Rs1,314.621 million as profit.

Profit before tax aggregated Rs1,282 million, an increase of 120 per cent over the same period last year. Profit after tax amounted to Rs800 million, as compared to Rs358 million.

Focus on the core banking business of interest income has resulted in an increase of 60 per cent on gross revenue at Rs4,356 million, as compared to Rs2,718 last year. When compared to June 30, 2004, deposits grew by 17 per cent whereas advances recorded a growth of 24 per cent.

Equity has registered an increase of 49 per cent, crossing Rs4,118 million as against Rs2,758 million last year.

Total assets stand at Rs87,939 million, as compared to Rs78,386 million last year, registering a growth of 12 per cent. Half-yearly earning per share is Rs3.30 as against Rs1.49, with a growth rate of 121 per cent.—APP