Home INDUSTRY BANKING Banks’ deposits grow 8.79pc in January

Banks’ deposits grow 8.79pc in January

Banks’ deposits grow 8.79pc in January

ISLAMABAD: The bank deposits of scheduled banks have surged by 8.79pc, as it increased from Rs12,002,239 million in January 2018 to Rs13,057,570 million in the same month of 2019.

According to the data issued by the State Bank of Pakistan on Monday, the deposits of scheduled banks on a month-on-month basis decreased by 2.21pc, as the deposits in December 2018 were recorded at Rs13,353,916 million.

Total investment by the scheduled banks, however, decreased by 31.60pc to Rs5,223,417 million in January 2019 as compared to the investment of Rs7,637,035 million recorded in January 2018.

Meanwhile, total advances of scheduled banks increased by 19.59pc to Rs7,840,684 million in January 2019, against the total advances of Rs6,556,145 million recorded during the same month of last year.