Loans to Private Sector during April jump by 17.65 percent

According to latest data released by the State Bank of Pakistan (SBP), loans to private sector during the month of April went up by more than 17.6 percent clocking in at Rs. 5.052 trillion. Of the total loans to Private Sector, more than 88 percent share of the loans came under the loans to private sector businesses. Also, six percent of private sector credit off take came under Investment in Securities & Shares of Private Sector clocking in at Rs. 260.726 million.

Loans for Personal Finance which includes Consumer Financing in house building, transport, credit cards and personal loans increased by 20.4 percent during the year reaching Rs. 587.125 billion from Rs. 487.485 billion last year. Almost all of the consumer financing heads saw major growth in borrowing compared to the same period last year.

Loans to private sector businesses reached Rs. 4.443 trillion of which the largest piece was borrowed by manufacturing sector, textiles, food products and beverages sectors.

Loans to manufacturing sector reached Rs. 2.593 trillion increasing by 16.38 percent during the year. Textiles subset of the manufacturing sector borrowed more than Rs. 818 billion a decline of Rs. 666 million sums against the sums borrowed last year.

Furthermore, borrowings by Food products and beverages reached Rs. 718 billion from Rs. 617.426 billion last year. The sector posted a month on month increase in credit off-take of 3.83 percent against March, 2018.

Loans to Trust Funds and NPOs also went up during the month reaching Rs. 17.925 billion up 20 percent from same month last year.