From a market value of just Rs. 100 billion, United Bank Limited (PSX: UBL) has soared to a record Rs. 600 billion (US$ 2.1 billion) in only two years.
“What’s even more impressive is that UBL has surpassed the combined market value of Habib Bank Limited (PSX: HBL) and MCB Bank Limited (PSX: MCB), marking a major shift in Pakistan’s banking landscape,” CEO Topline Securities CEO Mohammed Sohail said in a social media post on Saturday.
UBL’s scrip at the bourse closed at Rs. 482.18, up 8.46 percent or Rs. 37.59, with over 5.855 million shares on Friday.
The Bank is a subsidiary of Bestway International Holdings Limited, which is a wholly owned subsidiary of Bestway Group Limited.