United Bank joins top-5 club at PSX with over PKR 500 billion market cap

For the first time, United Bank Limited (UBL) has cemented its position as one of the top five companies listed on the Pakistan Stock Exchange (PSX) by market capitalization.

According to the latest data from PSX and AHL Research as of April 15, UBL's market capitalization has surged to PKR 594.8 billion (approximately $2.1 billion), securing the third spot in the ranking of the country's most valuable publicly traded companies.

This achievement highlights UBL's robust financial performance and investor confidence in its growth trajectory, an analyst said.

The bank's inclusion in the top-5 club underscores its pivotal role in Pakistan's banking industry, alongside giants like Oil & Gas Development Company Ltd. (OGDC) and Mari Energies Ltd. (MARI), which hold the first and second positions, respectively.

The top-10 list also features other prominent names such as Lucky Cement Ltd. (LUCK), Fauji Fertilizer Company Ltd. (FFC), and Meezan Bank Ltd. (MEBL), reflecting the diverse sectors driving Pakistan's economy. .

Looking ahead, UBL will continue to invest in its branch network, according to the bank’s annual report issued in February.

“The bank will continue to target low-cost deposits to maximize the earnings potential of its balance sheet. Transformation strategy has been pivotal to our success in 2024 with technology, processes and data analytics driving business decisions and which will remain a key priority going forward. With increased focus on speed, stability, security and sustainability, our technology platforms will enable us to position UBL for continued growth and resilience in an ever-evolving financial landscape,” it said.

Analysts attribute UBL's success to its focus on digital transformation, expanding customer base, and prudent risk management, which have collectively enhanced shareholder value.