Banks’ deposits increase by 15% YoY to Rs23.56tr: SBP

MG News | April 10, 2023 at 04:20 PM GMT+05:00

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April 10, 2023 (MLN): The total deposits held by scheduled banks have moved up by 15% YoY to Rs23.56 trillion in March 2023 compared to Rs20.46tr in March 2022, data issued by State Bank showed today.

Similarly, on monthly basis, local banks’ deposits have edged higher by 2.8% MoM, compared to Rs22.92bn in February 2023.

The data further revealed that the investments of scheduled banks jumped to Rs19.23tr in March 2023, showing a growth of 28% YoY. While, on monthly basis, the investment has inched up by 1.3% MoM from Rs18.93tr.

Similarly, demand for advances posted positive growth of 14.6% YoY and 1% MoM to 11.83tr in March 2023 compared to Rs10.38tr in March 2022 and Rs11.72tr in February 2023, respectively.

Consequently, banks' investment-to-deposit ratio (IDR) has soared to 81.6%, registering a surge of 832 basis points (bps) YoY whereas, on monthly basis, it dropped by 91bps.

Meanwhile, the advances to deposits ratio (ADR) moved down by 21bps YoY and 91 bps MoM to 50.2% in March 2023 compared to 50.4% in March 2022, and 51.1% in February 2023, respectively.

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