KARACHI: United Bank Ltd (UBL) is the first listed bank to cross the market capitalisation of $4.6 billion (Rs1.28 trillion), leaving the energy sector behind.
The booming financial sector is not surprised by this information, as market watchers believe that banks earn the most by lending to the government.
However, the UBL succeeded in achieving first place, multiplying its profits and market capitalisation over the last three years.
The UBL is a subsidiary of Bestway (Holdings) Ltd, which is a wholly owned subsidiary of Bestway Group Ltd.
Despite poor economic growth over the last three years, the equity market kept multiplying, increasing share prices and helping the financial and energy sectors maximise profits. However, Pakistani banks have the advantage of investing in government securities, which account for most of their profits.
The State Bank’s data shows that the banks’ total investment in the government papers reached a record high of Rs36.77tr by the end of June 30, 2025.
Published in Dawn, January 7th, 2026
