United Bank Limited (UBL) has become Pakistan’s largest bank by deposits, overtaking Habib Bank Limited (HBL) after a strong 15-month growth period. As of March 2026, UBL’s deposits reached Rs 5.39 trillion, while HBL’s deposits stood at Rs 5.07 trillion.
UBL started 2025 as the third-largest bank in Pakistan. In just 15 months, it more than doubled its deposit base from around Rs 2.6 trillion. This rapid rise gave UBL a market share of about 13.8 percent of total industry deposits. The bank also reported a record pre-tax profit of Rs 102 billion for the first quarter of 2026. This is the highest quarterly profit ever recorded by any bank in Pakistan’s history.
The growth came from strong performance in both retail and corporate banking. UBL focused on increasing current accounts, offering better incentives to staff, and reaching customers across different sectors. Analysts say the bank followed a smart, centralised strategy that helped it grow deposits without losing focus on profits.
HBL still leads in shareholders’ equity, but UBL now tops the list in deposits and market capitalisation. UBL even crossed Rs 1 trillion in market value on the Pakistan Stock Exchange, becoming the first Pakistani bank to achieve this milestone.
This shift marks a big change in Pakistan’s banking sector, where HBL had held the top spot since 2012. Customers now have more confidence in UBL’s services and digital banking.
Experts believe UBL’s success shows the importance of modern strategies and customer focus in a competitive market.
