United Bank Limited (PSX: UBL) has surpassed Meezan Bank Limited (PSX: MEBL) to become the most valuable bank in Pakistan.
In a post on LinkedIn, Topline Securities CEO Mohammed Sohail highlighted that UBL’s market capitalization now stand at Rs. 426 billion ($1.5 billion), making it the most valuable bank in Pakistan.
He mentioned that eighteen months ago, UBL was ranked as Number 11 listed firms on the Pakistan Stock Exchange (PSX) and has now reached the number three spot.
In just 18 months, UBL has provided a return of close to 400 percent, driven by consistent high dividends and aggressive management strategies, he added.