United Bank Limited (UBL) became Pakistan’s largest listed company on Tuesday after its market capitalisation reached Rs1.28 trillion, or about $4.6 billion, overtaking Oil & Gas Development Company (OGDC), which stood at Rs1.26 trillion, or about $4.53 billion.
The bank’s share price surged to Rs514.49, reflecting a 37% increase from Rs375.57 recorded in early December 2025. Analysts attribute UBL’s remarkable growth to the favorable interest rate environment, which has benefitted banks in recent months.
The interest rate has significantly reduced from 22% in April 2024 to 10.5% in December 2025, providing relief to financial institutions.
UBL’s latest financial results show a 36% year-on-year increase in profit, with a post-tax profit of Rs34.7 billion for the first nine months of the current calendar year. The bank also announced an interim cash dividend of Rs8 per share, bringing its total payout for the year to Rs27.5 per share.
UBL, a subsidiary of Bestway (Holdings) Limited, continues to lead the market, with OGDC trailing closely in terms of market capitalisation.
