Branch Banking builds earnings base across the Bank.

In 2022, the bank focused on building on its low-cost deposit base and onboarded 613,000 new current account relationships, leading to a robust growth of 13% in average current deposits, with volumes reaching Rs. 715 billion. The average current to total deposits ratio improved to 43.6% in 2022 from 42.1% in 2021, while savings accounts averaged Rs. 674 billion in 2022 (2021: Rs. 661 billion). The domestic cost of deposits came in at 6.4% as against 3.6% in the corresponding period of last year and remained well contained despite the sharp increase in interest rates during the year. In the Home Remittances space, UBL continues to be in the...