Banks’ deposits reach Rs21.15tr in May, up by 18% YoY

MG News | June 21, 2022 at 11:15 AM GMT+05:00

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June 21, 2022 (MLN): The total deposits held by scheduled banks have shown a growth of around 18% YoY to around Rs21.15 trillion in May 2022, against Rs17.95tr in the same month of last year on account of strong overseas inflows, data issued by State Bank showed today.

Likewise, on a monthly basis, local banks’ deposits showed an increase of 5.75% from Rs20tr in April 2022.

According to the data provided by SBP, investments jumped to Rs15.55tr in May 2022, showing a growth of 19% on a yearly basis. The higher growth in investments can be attributed to higher borrowings by the sector. On a sequential basis, the total investments by commercial banks inched up 2.3% from Rs15.21tr in the previous month.

Consequently, banks' investment to deposit ratio (IDR) has now surged to 73.54% by end of May 2022 compared to 73% in the same month last year, whereas on a monthly basis, it has moved up to 75.8%.

Similarly, demand for advances posted positive growth of 15.34% YoY during the month under review to Rs10.15tr. Similarly, on a monthly basis, it moved up by around 2% MoM.

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