Banks’ deposits increase by 21.66% YoY to Rs27.89tr in February

MG News | March 06, 2024 at 02:59 PM GMT+05:00

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March 06, 2024 (MLN): The total deposits held by scheduled banks have moved up by 21.66% YoY to Rs27.89 trillion in February 2024 compared to Rs22.92tr in February 2023.

According to data released by the SBP, Banks' deposits have edged higher by 1.26% MoM, compared to Rs27.54tr in January 2024.

Total advances increased by 2.9% to Rs12.06tr compared to Rs11.72tr from a year ago. On a monthly basis, advances decreased by 0.27% from their value of Rs12.09tr in January 2024.

Advances to Deposit Ratio (ADR) stood at 43.26% showing a decrease of 789 bps on a yearly basis, while showing a decrease of 66 bps on a monthly basis.

Total Investments of Scheduled Banks stood at Rs25.45tr compared to Rs18.99tr from a year ago and Rs25.6tr from a month ago, showing a YoY increase of 33.99% and a MoM decrease of 0.6%.

Investment to Deposit Ratio (IDR) moved up by 840 bps to 91.26% compared to February 2023 and decreased by 171 bps when compared to a month ago.

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