Advertisement
News

Pakistani banks show strongest stock growth in APAC: S&P Global

Advertisement

Pakistani banks dominated the list of Asia-Pacific’s best-performing bank stocks in 2024, with four lenders securing spots in the top 10, according to S&P Global Market Intelligence.

United Bank Ltd. (UBL) emerged as a standout, ranking second with a total stock return of 159.7%. UBL, boasting a market capitalization of $1.68 billion, was surpassed only by Indonesia’s PT Bank Artha Graha Internasional Tbk, which posted a return of 193.2%.

The rankings highlighted a strong showing from banks in developing economies, while smaller-cap banks led the charge overall. Only six of the top 15 performers had market capitalizations exceeding $1 billion.

Pakistani banks’ resurgence followed a mid-year economic recovery, aided by an IMF funding program and strict fiscal and monetary policies. Awais Ashraf of AKD Securities credited the rebound to external payments and smooth political transitions, which bolstered investor confidence.

Despite the promising gains, institutions like the World Bank have stressed the importance of sustained reforms for long-term growth and poverty reduction.

Advertisement
News Desk

Recent Posts

Starlink Registered in Pakistan

Minister of State for IT and Telecom, Shaza Fatima Khawaja, has announced the registration of…

2 hours ago

Karachi Tops Pakistan’s Tax Revenue Contributors for FY24

Karachi has been recognized as Pakistan’s leading tax revenue contributor for the fiscal year 2024,…

3 hours ago

Asad replaces Salahuddin as CEO KW&SC

Karachi Water and Sewerage Corporation (KW&SC) has appointed Asad Ullah Khan as its new Chief…

2 days ago

Justin Trudeau Resigns as Canada’s Prime Minister and Liberal Party Leader

Canadian Prime Minister Justin Trudeau announced his resignation on Monday, January 6, 2025, ending his…

2 days ago

Saudi Airline Flyadeal to Launch Operations in Pakistan from February

Saudi Arabia's new airline, Flyadeal, is set to commence its flight operations to Pakistan on…

2 days ago

Karachi Marathon 2025 Hosts More Than 4000 Runners from Different Countries

The Karachi Marathon 2025, a certified annual marathon event in Pakistan, successfully concluded with an…

2 days ago