Banks' deposits increase 16.1% YoY to Rs31.11tr in November 2024

By MG News | December 11, 2024 at 02:01 PM GMT+05:00

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December 11, 2024 (MLN): Banks' deposits saw a notable Year-on-Year (YoY) increase of 16.1% in November 2024, reaching Rs31.11tr compared to Rs26.8tr in November 2023, according to data released by the central bank.

However, on a monthly basis, deposits slightly declined, from Rs31.12 trillion at the end of October 2024.

Total advances increased by 7.9% to Rs14.87tr compared to Rs13.78tr a month ago. Meanwhile, advances increased by 24.3% from their value of Rs11.96tr from a year ago.

As a result of weak momentum of deposits and strong inflow of advances, the Advances to Deposits Ratio (ADR) rose to 47.8%, an increase of 352 basis points on a monthly basis.

Meanwhile, when compared to a year ago, ADR showed an increase of 316bps.

Total investments increased by 0.3% to Rs29.03tr from last month. While compared to last year, investments rose 18.1%.

Investment to Deposit Ratio (IDR) moved up by 29bps to 93.3% compared to last month and increased by 154 bps when compared to a year ago.

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