Banks’ deposits increase by 15% YoY to Rs22.92tr: SBP
MG News | March 13, 2023 at 04:45 PM GMT+05:00
March 13, 2023 (MLN): The total deposits held by scheduled banks have moved up by 15% YoY to Rs22.92 trillion in February 2023 compared to February 2022, data issued by State Bank showed today.
Similarly, on monthly basis, local banks’ deposits have edged higher by 0.73% MoM, compared to Rs22.75bn in January 2023.
The data further revealed that the investments of scheduled banks jumped to Rs18.9tr in February 2023, showing a growth of 30.61% YoY. However, on monthly basis, the investment has dropped by 1.55% MoM from Rs19.3tr.
Consequently, banks' investment-to-deposit ratio (IDR) on monthly basis increased to 82.85% by end of February 2023, up by 984bps YoY.
Similarly, demand for advances posted positive growth of 18% YoY during the month under review to Rs11.7tr.
Meanwhile, the advances to deposits ratio (ADR) inclined by 112bps YoY to 51% in February 2023.
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