KARACHI: A Topline Security report has revealed Pakistan’s banking sector advances during 2017 rose 17 percent to reach Rs6.53 trillion.
According to the brokerage report, lower interest rates helped the hunger of funds for industrial sector expansion and rose 17 percent compared to Rs5.57 trillion in 2016.
The report stated Advances to deposit ratio grew to 53 percent during 2017 compared against 50 percent in 2016. During 2017, bank’s deposits rose 10 percent to touch Rs12.36 trillion against growth of 20 percent in 2016.
Credit to private sector recorded an increase of 11 percent during first eleven months of 2017 compared to corresponding period of 2016 when it grew 6 percent.
Investment to deposit ratio (IDR) of banks grew to 69 percent in 2017 compared against 65 percent a year ago. Investment from banking sector kept on growing during 2017, recording a rise of 18 percent to touch Rs8.54 trillion.
