Four Pakistani Banks Ranked Among Asia-Pacific’s Top 10 for 2024 by S&P

ISLAMABAD: Four Pakistani banks—UBL – United Bank Limited (UBL), National Bank of Pakistan (NBP), Bank Alfalah Limited, and The Bank of Punjab—have been ranked among the top 10 best-performing banks in the Asia-Pacific region for 2024, according to S&P Global Intelligence.

UBL recorded an impressive 159.7% return, securing second place in the rankings. NBP, Bank Alfalah, and Bank of Punjab followed with returns of 108.4%, 107.1%, and 98.4%, respectively.

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Additionally, Allied Bank and Habib Metropolitan Bank also performed well, ranking 14th and 15th with returns of 94.5% and 93.2%.

This strong performance is attributed to Pakistan’s economic recovery in the second half of 2024, driven by an IMF funding program, which helped stabilize inflation and supported the banking sector.

In contrast, slower economic growth in China and India negatively affected their banks. Pakistani banks have become blue-chip stocks, with the Pakistan Stock Exchange (PSX) reaching record highs.