United Bank Limited (PSX: UBL) has achieved a remarkable market value growth, soaring from Rs. 100 billion to a record Rs. 600 billion (approximately $2.1 billion) within just two years.
"What's truly noteworthy is that UBL's market value has exceeded the combined worth of Habib Bank Limited (PSX: HBL) and MCB Bank Limited (PSX: MCB), signaling a significant shift in Pakistan's banking sector," remarked Mohammed Sohail, CEO of Topline Securities, in a recent social media update.
On Friday, UBL's stock closed at Rs. 482.18, reflecting an 8.46% surge (Rs. 37.59), with over 5.855 million shares traded on the Pakistan Stock Exchange.
The bank operates as a subsidiary of Bestway International Holdings Limited, which is fully owned by Bestway Group Limited.