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KARACHI: The total deposits held by scheduled banks in Pakistan have witnessed a substantial year-on-year surge of 21.03 percent, reaching Rs27.54 trillion in January 2024, compared to Rs22.75 trillion in the corresponding month of the previous year.
In a notable economic development, the information, which has been derived from data released by the State Bank of Pakistan (SBP), underscores the sector’s resilience and ability to attract substantial deposits.
However, a closer look at the month-on-month figures reveals a marginal decline of 1.08 percent, with deposits standing at Rs27.54 trillion in January 2024, down from Rs27.84 trillion in December 2023.
While this dip may raise eyebrows, it’s essential to recognize the broader positive trend in overall deposits. Turning our attention to the lending side, total advances showed a year-on-year increase of 3.74 percent, reaching Rs12.09 trillion in January 2024 compared to Rs11.66 trillion a year ago.
On a monthly basis, advances experienced a slight contraction of 2.08 per cent, declining from Rs12.35 trillion in December 2023.
The Advances to Deposit Ratio (ADR) stood at 43.92 percent, signaling a decrease of 732 basis points compared to the previous year and a 45 basis point decrease on a monthly basis.
Meanwhile, the total investments of scheduled banks surged to Rs25.6 trillion, marking a remarkable year-on-year increase of 32.71 percent from Rs19.29 trillion in January 2023.
