Banks’ deposits increase by 15% YoY to Rs22.92tr: SBP

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.

Copyright Mettis Link News