Banks’ deposits up by 3.2% MoM to Rs19.83tr in Sept'21

MG News | October 11, 2021 at 04:37 PM GMT+05:00

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October 11, 2021 (MLN): The total deposits held by Commercial Banks have inched up by 3.23% MoM to reach Rs19.83 trillion in the month of September 2021, compared to Rs19.21tr recorded in August 2021.

This slender growth in deposits may be attributed to a marginal increase of 0.5% in remittances by overseas Pakistanis.

Details made available by the State Bank of Pakistan (SBP) showed that investments were recorded at Rs14.10tr in Sept’21, registering a marginal increase of 1.40% MoM from Rs13.90tr in the previous month.

Consequently, banks' investment to deposit ratio (IDR) has now edged lower to 71% by end of Sept’21 compared to 72% in the same month i.e., Aug’21.

Meanwhile, Advances grew by Rs343 billion or around 4% MoM in Sept'21 to stand at Rs8.26tr.

Despite SBP’s efforts to incentivize the advances to deposits ratio (ADR) above 50%, it remained static at 43.52% in Sept’21 compared to the previous month.

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