KARACHI: Pakistan’s listed banks reported a combined profit of nearly Rs600 billion in 2024, despite facing a tax expense of Rs650 billion, according to data from brokerage firm Topline Securities.

In his post on LinkedIn, CEO of Topline Securities Mohammed Sohail shared that Meezan Bank Ltd (MEBL) has emerged as the most profitable bank, recording earnings of Rs101.5 billion. It was followed by United Bank Ltd (UBL) with Rs 75.8 billion, and MCB Bank Ltd (MCB) with Rs63.5 billion. Habib Bank Ltd (HBL) and Standard Chartered Pakistan Ltd (SCBPL) rounded out the top five with profits of Rs 57.8 billion and Rs 46.1 billion, respectively.

The sector’s strong earnings performance highlights resilience despite economic challenges, regulatory pressures and high taxation. However, Bank Makramah Limited (BML) was the only lender to post a loss, reporting a negative Rs5.2 billion. The data underscores continued profitability in Pakistan’s banking sector, driven by high interest rates and improved deposit growth.