Four Pakistani banks have secured spots among the top ten best-performing financial institutions in the Asia-Pacific region for 2024, according to a recent report by S&P Global Intelligence.
United Bank Limited (UBL) emerged as a standout performer, ranking second overall. With a market capitalization of $1.68 billion, UBL delivered an impressive total stock return of 159.7%. It trailed only Indonesia’s PT Bank Artha Graha Internasional Tbk, which posted a return of 193.2% and has a market capitalization of $270 million.
Following UBL, National Bank of Pakistan (NBP) achieved a return of 108.4%, earning it a spot in the top rankings. Bank Alfalah Limited and Bank of Punjab also made the prestigious list, with returns of 107.1% and 98.4%, respectively.
In addition, Allied Bank Limited (ABL) and Habib Metropolitan Bank Limited secured the 14th and 15th positions, reporting returns of 94.5% and 93.2%, respectively.
Japan was the only country to have multiple banks in the top 10, while individual entries came from Indonesia, Vietnam, Bangladesh, and the Philippines.
The analysis included Asia-Pacific banks with a market capitalization exceeding $100 million as of December 31, 2023. It revealed that small-cap banks dominated the list, with only six of the top 15 institutions boasting market values above $1 billion.
