Latest news with #UnitedBankLimited
Business Recorder
6 days ago
- Business
- Business Recorder
UBL expands strategic partnership with Teradata
KARACHI: United Bank Limited (UBL), one of Pakistan's leading financial institutions, has announced the expansion of its strategic partnership with Teradata. The collaboration includes an upgrade of UBL's data environment, leveraging Teradata's enterprise analytics and data platform for Trusted AI at scale, with the flexibility to deploy cloud infrastructure where applicable. This collaboration marks a pivotal step in UBL's digital transformation journey, as the bank transitions to a cutting-edge, open, and connected Data Lakehouse platform. Speaking at the signing ceremony, UBL's Chief Information Officer, Sohail Aziz, emphasized that this partnership is a major milestone in the bank's digital evolution, unlocking powerful analytics and AI capabilities to drive innovation and enhance customer experiences. He highlighted that the upgraded platform will enable faster, data-driven decision-making and more personalized banking services. Teradata's Area Vice President for Pakistan, Mr. Waqas Hashmi, reinforced the long-standing collaboration, stating that Teradata's AI-powered data platform will allow UBL to harness the full potential of its data, accelerate strategic initiatives, and strengthen its leadership in Pakistan's competitive banking sector. Copyright Business Recorder, 2025
Business Recorder
15-07-2025
- Business
- Business Recorder
PSX hits new historic high
KARACHI: The Pakistan Stock Exchange witnessed a resounding rally on the first day of the week, hitting new historic high, propelled by strong institutional participation and growing investor confidence. The benchmark KSE100 index finished by a remarkable 2,203 points, or 1.64 percent, to finish at a record 136,502.54 points as compared to the Friday's closing 134,299.77 points. Earlier in the session, the index had touched an intraday peak of 136,842 points, and a low of 134,937 points reflecting an exceptionally bullish mood in the market. BRIndex100 gained 224.38 points or 1.65 percent to close at 13,855.21 with a total volume of 603.15 million shares, while BRIndex30 increased by 337.2 points or 0.85 percent to settle at 40,188.19 with a total volume of 270.13 million shares. According to Topline Securities' sales desk, the rally was led by aggressive buying from local mutual funds and institutions. Much of the upward thrust came from the banking sector, where heavyweights United Bank Limited, Habib Bank Limited, Fauji Fertilizer Company, Bank AL Habib, and MCB Bank collectively added 1,443 points to the index. This sector-wide surge was fueled by positive earnings expectations and investor optimism over stable policy direction. Trading activity remained vibrant throughout the session. The ready market recorded a turnover of 841 million shares, compared to 765 million shares in the prior session. The total traded value stood at Rs 37 billion, slightly lower than the Rs 40 billion recorded on Friday. Crescent Star Insurance led the volumes chart with 47.2 million shares and closed at Rs 4.34 followed by K-Electric with 43 million shares and First Dawood Properties with a volume of 35 million shares. Both finished at Rs 5.33 and Rs 5.55 respectively. Market capitalization expanded sharply during the session, increasing from Rs 16.29 Trillion rupees in the previous session to Rs 16.49 Trillion rupees by the close, an impressive addition of over Rs 205 Billion in a single trading day. Among individual gainers, PIA Holding Company LimitedB shares spiked by Rs 2,615 to close at Rs 28,768, while S.S. Oil Mills gained Rs 92 to end at Rs 1,010. On the losing side, Ismail Industries fell by Rs 110 to Rs 2,020, and Unilever Pakistan Foods dropped Rs 80 to settle at Rs 23,336. Overall, the session witnessed strong breadth with 264 stocks closing in the green, 195 declining, and 16 remaining unchanged out of a total of 475 companies traded in the ready market. The BR Automobile Assembler Index closed at 22,743.17 points, rising by 315.34 points or 1.41 percent, with a total turnover of 12.27 million shares. The BR Cement Index settled at 10,777.76 points, down by 62.97 points or 0.58 percent, with a total turnover of 37.90 million shares. The BR Commercial Banks Index ended at 40,475.13 points, advancing by 1,549.34 points or 3.98 percent, with a total turnover of 104.91 million shares. The BR Power Generation and Distribution Index surged by 404.13 points or 1.9 percent to close at 21,634.93 points, with a total turnover of 57.92 million shares. The BR Oil and Gas Index declined by 45.18 points or 0.37 percent, ending the session at 12,183.85 points, with a total turnover of 39.74 million shares. Meanwhile, the BR Technology & Communication Index recorded a gain of 10.06 points or 0.33 percent, settling at 3,056.62 points, with a total turnover of 62.93 million shares. Muhammad Hasan Ather of JS Global noted that the KSE-100 Index rally was supported by strong investor confidence driven by favorable macro indicators, record remittances, and widespread gains in key sectors such as banking and cement. Ather further added that continued government support and solid earnings expectations played a key role in strengthening market sentiment. While the upward trajectory is likely to persist in the near term, he cautioned that selective profit-taking may occur as the market approaches overbought territory. Copyright Business Recorder, 2025
Business Recorder
05-07-2025
- Business
- Business Recorder
2nd most valuable listed co: UBL's market cap jumps 6-fold in 2 years
KARACHI: United Bank Limited has officially cemented its position as the second most valuable listed company on the Pakistan Stock Exchange (PSX), marking a significant milestone in its history. This achievement places UBL among an elite group of companies on the exchange. United Bank Limited, a banking company incorporated in Pakistan, is engaged in commercial banking and related services. The bank operates as a subsidiary of Bestway International Holdings Limited, a wholly-owned subsidiary of Bestway Group Limited. According to Muhammad Sohail, CEO of Topline Securities, UBL's market capitalization has experienced an astounding six-fold surge in just two years, leaping from under $0.5 billion to nearly $3 billion. 'What an incredible journey for United Bank Limited (UBL), now the second most valuable listed company on the Pakistan Stock Exchange!' Sohail remarked. This exponential growth, Sohail added, is a clear reflection of robust investor confidence, strong earnings growth, and a successful strategic transformation within Pakistan's banking sector. While UBL celebrates this significant ascent, Oil & Gas Development Company Limited (OGDCL) continues to hold the top spot as the most valuable company on the PSX, boasting a market capitalization of $3.4 billion. Beyond OGDC and UBL, three other companies have also crossed the impressive $2 billion market capitalization mark on the PSX that include Mari Petroleum Company Limited (MARI) with a market cap of $2.7 billion and Meezan Bank Limited (MEBL) holding a market cap of $2.2 billion. Additionally, Fauji Fertilizer Company (FFC) is close behind with a market capitalization of $2.0 billion. Among other listed companies at the Pakistan Stock Exchange (PSX), several stocks boast market capitalizations exceeding $1 billion. Leading the pack is Lucky Cement (LUCK), Pakistan Petroleum Limited (PPL), and MCB Bank Limited (MCB). In the consumer goods sector, Colgate-Palmolive Pakistan (COLG) and Nestle Pakistan (NESTLE) maintain market capitalizations of more than $1 billion. Meanwhile, Pakistan Telecommunication Company Limited (PTC) also crosses the billion-dollar mark with a market capitalization of $1.08 billion. Copyright Business Recorder, 2025
