Bank deposits surge 17pc in Feb

The Pakistani banking sector deposits continued to show healthy growth during the pandemic, as the total deposits held by commercial banks clocked in at Rs17.25 trillion in February 2021, depicting a growth of 17 per cent MoM.

The government remained the single largest borrower from commercial banks and depositor as well during the pandemic.

At the same time, banks’ lending to the private sector slightly improved with a partial revival in economic activities. However, growth in lending to the private sector remained slow compared to the ones in deposits and investment in government papers.

Banks’ investment in government debt securities soared 33pc in one year to Rs11.61 trillion in the month under review compared to Rs8.72 trillion in the corresponding month of the previous year.

Further, lending to the private sector enhanced just around 4pc to Rs8.53 trillion in the month compared to Rs8.21 trillion in February 2020.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

Must Read

Facebook, Nvidia ask US Supreme Court to spare them from securities...

The U.S. Supreme Court is set to consider bids by two tech giants Meta's  Facebook and Nvidia to fend off federal securities fraud lawsuits in separate cases...