UBL becomes first Pakistani bank to surpass Rs1 trillion market cap

United Bank Limited (UBL) has become first Pakistani bank to exceed Rs1 trillion in market capitalisation on the Pakistan Stock Exchange (PSX), hitting a historical milestone in Pakistan's banking history.

This achievement highlights investor's growing confidence in UBL’s turnaround strategy, consistent performance, and positive future outlook, ProPakistani reported, citing Topline Securities.

Financial experts attributed UBL's incredible earnings growth to its focus on digital transformation and an expanding retail banking network.

The surprising turn of the develpment is that the bank’s market cap has surged sixfold over the past two years, indicating strong market optimism.

Currently at Rs1.012 trillion, UBL’s market capitalisation signifies its solid valuation, which can be partially attributed to UBL's successful merger with Silkbank earlier this year.

The measures underaken by the bank in the recent past further consolidates the bank's market presence while strengthening its balance sheet.