Commercial Banks' deposits grow by 12% YoY in March

April 5, 2020 (MLN):  In the month of March 2020, the total deposits held by commercial banks has increased to Rs 15.13 trillion against Rs 13.45 trillion in the same month of last year, depicting a growth of 12% YoY.

On a sequential basis, deposits showed a mere growth of 2% as in February 2020 it stood at Rs 14.8 trillion, revealed the latest data issued by State Bank of Pakistan (SBP).

Meanwhile, total advances of commercial banks during the month also showed a meagre growth of 5% YoY to Rs 8.26 trillion compared to Rs 7.9 trillion recorded in the same month of 2019. While on a monthly basis, advances jumped marginally from Rs 8.2 trillion which decreased advances to deposit ratio by 1 ppts from 55.4% in February 2020 to 54.6% in March 2020. Whereas, on a yearly basis, this ratio decreased by 4ppt, as in March 2019 it was 58.6%.

On the other hand, total investment by commercial banks during the month displayed a jump of 62%YoY and 7%MoM to Rs 9.29 trillion.

Copyright Mettis Link News