2nd most valuable listed co: UBL’s market cap jumps 6-fold in 2 years

KARACHI: United Bank Limited has officially cemented its position as the second most valuable listed company on the Pakistan Stock Exchange (PSX), marking a significant milestone in its history. This achievement places UBL among an elite group of companies on the exchange.

United Bank Limited, a banking company incorporated in Pakistan, is engaged in commercial banking and related services. The bank operates as a subsidiary of Bestway International Holdings Limited, a wholly-owned subsidiary of Bestway Group Limited.

According to Muhammad Sohail, CEO of Topline Securities, UBL’s market capitalization has experienced an astounding six-fold surge in just two years, leaping from under $0.5 billion to nearly $3 billion. “What an incredible journey for United Bank Limited (UBL), now the second most valuable listed company on the Pakistan Stock Exchange!” Sohail remarked.

This exponential growth, Sohail added, is a clear reflection of robust investor confidence, strong earnings growth, and a successful strategic transformation within Pakistan’s banking sector.

While UBL celebrates this significant ascent, Oil & Gas Development Company Limited (OGDCL) continues to hold the top spot as the most valuable company on the PSX, boasting a market capitalization of $3.4 billion. Beyond OGDC and UBL, three other companies have also crossed the impressive $2 billion market capitalization mark on the PSX that include Mari Petroleum Company Limited (MARI) with a market cap of $2.7 billion and Meezan Bank Limited (MEBL) holding a market cap of $2.2 billion. Additionally, Fauji Fertilizer Company (FFC) is close behind with a market capitalization of $2.0 billion.

Among other listed companies at the Pakistan Stock Exchange (PSX), several stocks boast market capitalizations exceeding $1 billion. Leading the pack is Lucky Cement (LUCK), Pakistan Petroleum Limited (PPL), and MCB Bank Limited (MCB). In the consumer goods sector, Colgate-Palmolive Pakistan (COLG) and Nestle Pakistan (NESTLE) maintain market capitalizations of more than $1 billion. Meanwhile, Pakistan Telecommunication Company Limited (PTC) also crosses the billion-dollar mark with a market capitalization of $1.08 billion.

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