Banks’ deposits surge 22% to Rs31.1tr in June

MG News | July 19, 2024 at 01:24 PM GMT+05:00

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July 19, 2024 (MLN): The total deposits held by scheduled banks have surged by 22.0% YoY to Rs31.12 trillion in June 2024 compared to Rs25.51tr in June 2023.

According to data released by the SBP, Banks' deposits have moved higher by 6.0% MoM, compared to Rs29.35tr in May 2024.

Total advances increased by 1.9% to Rs12.43tr compared to Rs12.2tr from a year ago. On a monthly basis, advances increased by 2.2% from their value of Rs12.17tr in May 2024.

Advances to Deposit Ratio (ADR) stood at 39.96% showing a decrease of 788 bps on a yearly basis and a decrease of 151 bps on a monthly basis.

Total Investments of Scheduled Banks stood at Rs30.17tr compared to Rs20.9tr from a year ago and Rs28.92tr from a month ago, showing a YoY increase of 44.4% and a MoM increase of 4.3%.

Investment to Deposit Ratio (IDR) moved up by 1,503 bps to 96.95% compared to June 2023 and decreased by 160 bps when compared to a month ago.

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