Karachi July 22 2024: According to data from the State Bank of Pakistan, the banking sector’s deposits surged by 6 percentage MoM and 22 percentage YoY, reaching PKR 31,122 billion in June 2024.
This represents the highest monthly growth in 24 months. The increase is attributed to attractive returns and a rise in remittance flows.
Investments in the banking sector climbed to PKR 30,171 billion as of June 2024, marking a 4 percent MoM increase and a 44 percent YoY rise. Advances in the sector grew to PKR 12,435 billion, showing a 2 percent increase both MoM and YoY.
The advances-to-deposits ratio stood at 40 percent in June 2024, compared to 41 percent in May 2024 and 48 percent in June 2023. Meanwhile, the investment-to-deposits ratio was 97 percent in June 2024, down from 99 percent in May 2024 but up from 82 percent in June 2023.
