Banks’ deposits increase by 21% YoY to Rs27.54tr in January

MG News | February 26, 2024 at 04:59 PM GMT+05:00

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February 26, 2024 (MLN): The total deposits held by scheduled banks have moved up by 21.03% YoY to Rs27.54 trillion in January 2024 compared to Rs22.75tr in January 2023.

According to data released by the SBP, Banks' deposits have edged lower by 1.08% MoM, compared to Rs27.84tr in December 2024.

Total advances increased by 3.74% to Rs12.09tr compared to Rs11.66tr from a year ago. On a monthly basis, advances decreased by 2.08% from their value of Rs12.35tr in December 2024.

Advances to Deposit Ratio (ADR) stood at 43.92% showing a decrease of 732 bps on a yearly basis, and 45 bps on a monthly basis.

Total Investments of Scheduled Banks stood at Rs25.6tr compared to Rs19.29tr from a year ago and Rs25.28tr from a month ago, showing a YoY increase of 32.71% and a MoM increase of 1.28%.

Investment to Deposit Ratio (IDR) moved up by 818 bps to 92.97% compared to January 2023 and increased by 216 bps when compared to a month ago.

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