Several leading Pakistani banks are expected to benefit from the State Bank of Pakistan’s (SBP) latest revision to deposit regulations, with analysts forecasting a notable improvement in profitability.
According to Topline Securities, Habib Bank Limited (HBL), United Bank Limited (UBL), Meezan Bank Limited, Bank AL Habib, and MCB Bank Limited are likely to record the largest gains after the SBP removed the Minimum Deposit Rate (MDR) requirement for trusts, private limited businesses, and individual deposits exceeding Rs. 10 million (Rs. 1 crore).
The brokerage estimates that the banking sector could reduce deposit costs by around 50 basis points, translating into an additional Rs. 20–45 billion in annual gross income.
Banks with a larger base of affluent customers and high savings deposits are expected to benefit the most from the policy change.
HBL is considered one of the biggest beneficiaries, with approximately 133,000 Prestige Banking customers holding deposits worth around Rs. 386 billion.
Meezan Bank, UBL, Bank Alfalah, and Askari Bank are also expected to gain due to their sizeable premium banking customer base. Meanwhile, Meezan Bank, Bank AL Habib, Allied Bank, and MCB Bank have relatively strong retail and savings deposit portfolios, further supporting their earnings outlook.
Analysts noted that the overall impact may remain moderate, as high-net-worth customers are generally well-informed and may shift their deposits to banks offering more competitive returns and better services.
