Equity Analysis /
Pakistan

United Bank: 2QCY21 analyst briefing takeaways

  • UBL continues to de-risk its international corporate book particularly in the Middle East

  • Costs remain in check, focus remains on fee and digital

  • UBL offers undemanding valuations (CY22f P/B of 0.73x and P/E of 5.13x) while offering a DY of 10.2%

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
10 August 2021