Banks’ deposits surge to Rs24.38tr in May 2023

MG News | June 12, 2023 at 12:36 PM GMT+05:00

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June 12, 2023 (MLN): The total deposits held by scheduled banks have moved up by 15.3% YoY to Rs24.38 trillion in May 2023 compared to Rs21.15tr in May 2022.

Meanwhile on a monthly basis, Banks deposits have edged higher by 4.09% MoM, compared to Rs.23.42tr in April 2023.

According to data released by the SBP, total advances increased by 11.55% to Rs12.07tr compared Rs10.82tr from a year ago. On a monthly basis, advances decreased by 0.32% from its values of Rs12.11tr in April 2023.

Total Investments of Scheduled Banks stood at Rs20.14tr compared to Rs19.69tr from a month ago and Rs15.55tr from a year ago, showing an increase of 2.28% MoM and an increase of 29.49% YoY.

Advances to Deposit Ratio (ADR) stood at 49.5% showing a decrease of 219 bps on a monthly basis and a decrease of 166 bps on a yearly basis.

Investment to Deposit Ratio (IDR) moved down by 146 bps to 82.6% compared to April 2023, and increased by 905 bps when compared to a year ago.

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