Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price429.50 PKR
Ethical score30.0/100
RatingAVOID
Our investment reviews on this name
2026-09-24Read Markdown429.50+0.0% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
United Bank Limited holds its Markdown at $429.50. The statistical read favours the sellers, held for 216 days.
As held on the ledger · 2026-09-18
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 216 days
Price at the screen
$429.50
Valuation
4.57 trailing · 5.29 forward price to earnings
Values screen
FAIL· score 30.0
The Workings
Five Screens, Shown in Full
Does not pass. Business activity screen
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Bank — FAIL on business activity
Fail
Debt load
1.07%
Below 33%
Interest-bearing debt is just 1.1% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
4.80%
Below 33%
Cash held in interest-bearing accounts and securities is 4.8% of assets, under the one-third limit.
Pass
Receivables
3.52%
Below 49%
Money owed to the company is 3.5% of assets, under the 49% limit.
Pass
Revenue purity
87.64%
Below 5%
87.6% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
United Bank does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-18 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
UBL.KA trades on KSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown$429.50+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 36%.
2026-09-24Markdown$429.50Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 36%.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$415.22
-3.6%
·
$964
-3.6%
2 months
$353.56
+13.2%
$8.00
$1,155
+15.5%
3 months
$359.64
+11.3%
$16.00
$1,157
+15.7%
6 months
$362.64
+10.4%
$16.00
$1,148
+14.8%
1 year
$472.59
-15.3%
$32.00
$915
-8.5%
2 years
$187.23
+113.7%
$54.00
$2,426
+142.6%
3 years
$88.27
+353.3%
$76.00
$5,394
+439.4%
5 years
$83.25
+380.7%
$99.50
$6,002
+500.2%
Historical returns from market close data. Past performance does not guarantee future results.
The Ledger's Promise
This entry now belongs to the ledger. Whatever UBL.KA does next, these words stay.
United Bank Limited · UBL.KA · Markdown · $429.50
Recorded 2026-09-18 · before the outcome · scored mechanically