Karachi, August 13, 2021 (PPI-OT): Banks: Jul-2021 Deposits grow by 17% YoY

As per the latest data released by the State Bank of Pakistan (SBP), total Deposits in Jul-2021 clocked in 17% YoY higher at Rs18.84tn; not materially deviating from their recent average growth rate. Deposits however dipped by 5% MoM, owing to a higher base in Jun-2021 quarter close.

Meanwhile, Advances witnessed 9% YoY growth in the month to clock in at Rs8,878bn with ADR sticky at 47%. The growth pace continued as of last month, higher than recent average trend of 3%-4% YoY that has been witnessed since more than a year.

During the same period, Investments continued to grow at a higher pace of 30% YoY given continued higher participation in auctions of government securities as compared to scheduled maturities during the same period. Resultantly, IDR increased by 781bps YoY, reaching to a high of 75%.

Sizable Investment growth was also supported by increasing Borrowing levels by 42% YoY, taking the head to a high of Rs4,578bn.