Four Pakistani banks in S&P’s Asia-Pacific top 10 list

Four Pakistani banks ranked as the best among the top 10 Asia Pacific lenders in 2024, reported S&P Global Intelligence on Wednesday. “Pakistani banks dominated a ranking of Asia-Pacific lenders with the best-performing stocks in 2024, as several banks based in the region’s developing economies performed better on the metric of total returns than those in traditional powerhouse nations,” said the S&P report. Four Pakistan-based lenders, led by United Bank Ltd (UBL), made the top 10, according to S&P Global Market Intelligence data. UBL, which has a market capitalisation of $1.68 billion, recorded a total stock return of 159.7 per cent to place second in a ranking of the region’s best-performing bank stocks. The data shows it trailed behind Indonesia’s PT Bank Artha Graha Internasional Tbk, which has a market cap of $270 million and made total returns of 193.2pc in the year.