Banking sector deposits surge by 12% in January

MG News | March 02, 2020 at 12:44 PM GMT+05:00

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March 2, 2020 (MLN): Banking sector deposits grew 12% YoY from Rs 13.057 trillion in January 2019 to Rs 14.67 trillion in January 2020, revealed latest data issued by State Bank of Pakistan (SBP) on Friday.

On sequential basis, Commercial banks’ deposits did not show any noticeable growth, as they stood at Rs 13.35 trillion in December 2019.

Meanwhile, total advances of commercial banks during the month showed a meagre growth of 4% YoY to Rs 8.16 trillion compared to Rs 7.84 trillion recorded in the same month of 2019. While on monthly basis, it remained stagnant.

Accordingly, the banks’ advances to deposits ratio reached 56% during the month under review against 60% recorded in January 2019.

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