Deposits held by commercial banks upsurge 10% YoY in April’20

MG News | May 17, 2020 at 03:04 PM GMT+05:00

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May 17, 2020 (MLN): In the month of April 2020, the total deposits held by commercial banks has increased to Rs 14.47 trillion against Rs 13.14 trillion in the same month of last year, depicting a growth of 10% YoY.

On a sequential basis, deposits showed a negative growth of 4% as in March 2020 it stood at Rs 15.12 trillion, revealed the latest data issued by State Bank of Pakistan (SBP).

Meanwhile, total advances of commercial banks during the month showed a meagre growth of 5% YoY to Rs 8.21 trillion compared to Rs 7.86 trillion recorded in the same month of 2019. While on a monthly basis, advances declined marginally from Rs 8.26 trillion which increased advances to deposit ratio by more than 2 ppts from 54.6% in March 2020 to 57% in April 2020. Whereas, on a yearly basis, this ratio decreased by 3ppt, as in April 2019 it was 60%.

On the other hand, total investment by commercial banks during the month displayed a jump of 57%YoY and 5%MoM to Rs 9.79 trillion.

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