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UBL breaks records with Rs102bn quarterly profit, powered by bond market timing, deposit growth, and strategic risk management amid high taxation pressures.
Read more: UBL Becomes Pakistan’s Most Valuable Listed Company
United Bank Limited (UBL) has reported a record pre-tax profit of Rs102.07 billion for the quarter ending March 31, 2026, becoming the first Pakistani bank to cross the Rs100 billion quarterly threshold. The figure marks a 35.5% year-on-year increase, driven by strategic gains in the government bond market and strong core earnings.
A key contributor was a Rs30.54 billion gain on securities, largely realized through timely bond sales following interest rate cuts by State Bank of Pakistan. UBL also shifted Rs303.37 billion into amortized cost securities to shield against market volatility as yields later spiked.
Deposits surged to Rs5.39 trillion, strengthening its position as Pakistan’s second-largest bank, while net interest income rose 18% to Rs99.42 billion.
Speaking at an investor briefing, President and CEO Muhammad Jawaid Iqbal said, “We have no ambition to be No. 1,” emphasizing a focus on profitability over size.
Despite strong performance, high taxation reduced net profit to Rs48.98 billion. The bank also announced leadership changes, with Zameer M. Choudrey appointed Chairman.
