Banking Deposits Surge 21% to Rs. 28.4 Trillion in April 2024

As of April 2024, banking deposits surged by more than 21 percent, reaching Rs. 28.4 trillion, up from Rs. 23.4 trillion in April 2023.

Data from the State Bank of Pakistan (SBP) indicated that advances fell by 0.7 percent over the same period, amounting to Rs. 12 trillion in April 2024, compared to Rs. 12.1 trillion a year earlier.

Investments experienced a notable year-over-year increase of 38.5 percent, rising to Rs. 27.3 trillion in April 2024 from Rs. 19.7 trillion in April 2023.

The advance-to-deposit ratio was 42.3 percent in April 2023, which represents a year-over-year decline of 936 basis points but a month-over-month increase of 9 basis points.

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In April 2024, the investment-to-deposit ratio reached 96 percent, marking a year-over-year rise of 1,194 basis points and a month-over-month increase of 325 basis points.