December 17, 2019 (MLN): Non- Resident Pakistanis have placed accumulated 254.26 billion Rupees of funds on deposits with the Pakistani banking system at the end of November 2019, depicting a growth of 24% YoY.
According to the latest data published by State Bank of Pakistan on Scheduled banks’ deposits distributed by categories of deposit holders, on monthly basis, it piled up by 4% as it recorded Rs 243.36 billion in the month of October 2019.
Whereas, Pakistani Residents deposited funds worth Rs 14.44 trillion during the said period, which was 15% higher than the deposits in the same month of last year.
The deposits by domestic constituents is cascaded down to Government, Non-Financial Public Sector Enterprises (NFPSE), Non- Bank Financial Institutions (NBFIs), Private Sector (Business), Trust Funds & Non-Profit Organizations (NPOs) and Personal.
Of these, deposits by Government stood at Rs 2 trillion, NFPSE at Rs 968.8 billion and NBFIs amounted to Rs 458.4 billion, showing an expansion of 12%, 25% and 33% YoY respectively.
Private Business Sector kept Rs 3.6 trillion of funds in the banks during the month, up by 25% YoY, of which largest holdings worth Rs 775.6 billion were observed by Wholesale and retail trade; repair of motor vehicles and motorcycles sector.
Outstanding deposits by Trust Funds and NPOs mounted to Rs 385.78 billion, whereas by individuals recorded at Rs 6.88 trillion, marking a growth of 10% YoY.
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