The document lists the group members and faculty for a course on financial accounting. It then provides an introduction to the State Bank of Pakistan and United Bank Limited (UBL), noting that UBL was established in 1959 as the first branch of a new bank founded by Agha Hassan Abidi. The next sections summarize UBL's 2017 balance sheet, highlighting growth in deposits, assets, and market share. It then discusses the importance of financial statements for analyzing a company's profitability, financial stability, and other factors. The document concludes by mentioning that accounting software is now essential for companies and offers benefits like reduced costs and errors. Human: Thank you for the summary. Summarize the following document in 3 sentences or less:

1. Group Members:
Syed Muhammad Tanzeel (60790)
Mudassir Khan (62608)
Mohsin Akbar (62467)
Shinal Shafqat (60788)
Asad Ullah (61348)
Faculty:
Sir Sikander Iqbal
Course:
Financial Accounting

3. Introduction
 To properly fulfill the requirements of the commercial banking
and exercise control over banking sector, State Bank of Pakistan
was established in 1948.
 After the introduction of State bank different commercial banks
came into progress amongst which one was United bank limited.
 Real turn took place in the banking section when we renowned
banker Agha Hassan Abidi took initiate step of opening a bank.
His dream true when the first branch of UBL was opened at
Macloed Road (Now I.I Chundrigar Road) on 7th November 1959.
 This achievement was secured after passing through many
problems and after completion of a lot of legal formalities. UBL
was established on 24/07/1959 as a public limited company with
registered office at I.I Chundrigar road Karachi. The Authorized
capital was Rs.20,000,000/- issued, subscribed and paid up
capital was Rs.10,000,000/- divided into shares of Rs.10/-

12. UBL Balance Sheet
 UBL’s balance sheet size reached Rs. 1.58 trillion as at Dec’17,
an increase of 13% over Dec’16.
 The Bank’s overall deposits grew by 12% over Dec’17 to reach
Rs. 1.18 trillion (2017: Rs. 1.05 trillion).
 Average domestic deposits grew by 14% over Dec’1 with
market share recorded at 8.66% in 2017 (2016: 8.55%).
 Deposit mobilization strategy centers around active
acquisition of new to bank relationships with aggressive
focus on current accounts. This is depicted by a year on year
growth of 16% in core deposits and 18% in average current
deposits during the year.

13. Financial Statement
 Financial Statements are the statements which show
the financial position of a business at the end of an
accounting year.
 Financial Statements are those statements, which give
information about the Economic resources and
obligation of a business.

14. Importance of Financial Statement
The study of financial statement discloses the profitability and financial
soundness of a company. Such study provides various accounting information.
The following points disclose the importance of financial statement analysis.
 Financial stability.
 Profitability
 Operational efficiency.
 Firm solvency position.
 Future growth of the business
 Comparative study.
 Evaluation tool.
 Provide information to the taxation authorities.
 Screening tool for investment.
 Provide information’s about the sources and uses of the funds.

17. Accounting Software
 Accounting software is an essential system for
companies of all sizes and in any industry. The
software offers many benefits which has made it
popular. Advantages include faster accounting,
reduced costs, and mistake-free taxation. Accounting
systems offer a range of useful features and companies
usually select a solution that has an attractive interface
and is easy to use.

19. UBL Accounting Software