Based on the significant contribution of the listed commercial banks to the economic progress of Pakistan, this study investigates the impact of macroeconomic factors on the profitability of the listed commercial banks in Pakistan for years 2006 to 2018. Panel data estimation techniques have been used to examine the effect of five major external factors i.e. GDP, Interest rate, Inflation rate, Exchange rate and Money supply on profitability of commercial banks of Pakistan. The indicators used to measure the profitability of banks are return on assets (ROA) and return on equity (ROE). The finding shows that the selected macroeconomics factors have negligible impact on commercial bank’s profitability. Supervisor:- Dr. Farhat Mahmood