Pakistani banks have emerged as frontrunners in the Asia-Pacific region, securing top spots in a recent ranking by S&P Global for the second quarter.
According to S&P Global Market Intelligence, Pakistani banks occupied seven of the 15 positions in the ranking, boasting the highest total returns between March 27 and June 28.
Leading the charge were Standard Chartered Bank (Pakistan) Ltd., Faysal Bank Ltd., and United Bank Ltd., securing second, third, and fourth places respectively with impressive total returns. Vietnam’s Lien Viet Post Joint Stock Commercial Bank clinched the top spot with the highest returns, while Hong Kong-based Dah Sing Financial Holdings Ltd. rounded out the top five.
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The vigorous performance of Pakistani banks was attributed to the country’s strong stock market, particularly the KSE-100 index, which surged over 17% during the period.
This uptick was bolstered by Pakistan’s adherence to stringent fiscal and monetary policies under the IMF program, coupled with steady external payments and a smooth government transition.
