Banking Sector Deposits Near Rs. 31 Trillion in July 2024

Banking sector deposits have maintained their steady growth since the turn of the new year, posting a 19.1 percent year-on-year growth in July 2024. According to the State Bank of Pakistan (SBP), the banking industry’s deposits increased to Rs. 30.6 trillion in July 2024, compared to Rs. 25.7 trillion in the same period last year. On a month-0n-month basis, deposits show a 1.7 percent decrease from Rs. 31.1 trillion reported in June 2024. Bank investments surged to Rs. 30.4 trillion in July 2024 compared to Rs. 21.4 trillion in the same period last year, showing an improvement of 41.8 percent YoY. The advances of the banks recorded a small dip of 0.2 percent YoY from Rs. 11.89 trillion in July 2023 to Rs. 11.87 trillion in July 2024. The advance-to-deposit ratio decreased by 750 basis points to 38.8 percent from 46.3 percent in SPLY. The investment-to-deposit ratio surged to 99.4 percent in July 2024 from 83.5 percent reported last year.