Banking Sector Deposits Cross Rs. 29 Trillion in May 2024

The banking deposits increased by 20.3 percent to Rs. 29.349 trillion as of May 2024 compared to Rs. 24.388 trillion as of May 2023. According to data released by the State Bank of Pakistan (SBP), advances increased by 0.8 percent year-over-year to Rs. 12.169 trillion during April 2024 as compared to Rs. 12.072 trillion as of April 2023. Investments also witnessed a significant increase of 43.6 percent year-over-year to Rs. 28.923 trillion compared to Rs. 20.144 trillion as of May 2023. The advance-to-deposit ratio stood at 41.5 percent in May 2024, down 804bps year-over-year while down 87bps on a month-over-month basis. The investment-to-deposit ratio clocked in at 98.6 percent in April 2024, up 1,595bps year-over-year and 254bps month-over-month.