Islamabad, Jan 10: Other Pakistani banks in the top ten list were the National Bank of Pakistan (NBP), offering a return of 108.4pc, Bank Alfalah Ltd (BAFL) 107.1pc and Bank of Punjab (BoP) 98.4pc.
According to S&P Global Intelligence, four Pakistani banks have emerged as top performers among Asia-Pacific lenders in 2024. United Bank Limited (UBL) led the group with a remarkable stock return of 159.7%, placing it second in the rankings. Other Pakistani banks in the top 10 included the National Bank of Pakistan (108.4%), Bank Alfalah Limited (107.1%), and the Bank of Punjab (98.4%).
The report highlighted that Pakistan’s banking sector showed resilience, recovering from earlier setbacks due to inflation and economic challenges. This turnaround was supported by an IMF funding program that boosted the country’s economy in the second half of 2024.
The rankings, which assessed banks with market capitalizations exceeding $100 million, were dominated by small-cap institutions. Indonesian lender PT Bank Artha Graha Internasional topped the list with a total return of 193.2%, while Japanese banks SBI Sumishin Net Bank and Rakuten Bank also secured top spots.
Indian banks, however, struggled, with seven lenders ranking among the 15 worst performers. Factors such as slow credit growth and weaker GDP projections (6.6% for 2024–25, down from 8.2% the previous year) contributed to their underperformance.
