Bank deposits observe an increase of 18pc in 1Q 2021

KARACHI: As per the data released by the State Bank of Pakistan (SBP), the bank deposits have observed an increase of 18pc, Year-on-Year (YoY) basis in the 1st quarter of 2021 (1Q2021) as compared to the deposits recorded in the same period of 2020.

According to the released figures, the value of bank deposits in 1Q2021 is recorded at Rs17.9tr as compared to the value of Rs15.12tr in the same period of last year.

The increase in deposits is attributed to the increasing remittances and slow cash-based business activity due to pandemics in the country.

Simultaneously as per the figures, the investments have grown by 35pc YoY basis in the 1Q2021 as compared to the investments in the same period of last year.

The recorded value of investments in 1Q2021 was recorded at Rs12.5tr as compared to the recorded value of Rs11.6tr in the same period of the year 2020.

Furthermore, the advances from the banks on a YoY basis increased by 4pc as compared to the value of Rs8, 250bn in 1Q2020.

Leave a Comment

Your email address will not be published. Required fields are marked *