KARACHI: Pakistani banks will get more advantages in three years on account of reviving business dealings and economic recovery signs.
Analyst Zeeshan Afzal has revealed that as credit craving has grown, banks have started financing to many sectors including power, textile, telecom, consumer, construction and communication.
Investors’ confidence is at peak under the new business-friendly government and the banks have begun to collect high yielding government papers. Moreover, evolution of branchless and Islamic banking will multiply banks’ business and in this way total banking sector will grow automatically. Another major factor is that in a country with population of 188m, only 35m bank accounts are there in Pakistan.
So it is a must to get Islamic Banking and branchless business evaluated. Within coming years, it is estimated that deposits are to grow at CAGR at 12.9pc as compared to 15.6pc in last 3 years. Similarly, its estimate advances growth of 13.5pc CAGR in next 3 years vs 7.9pc in last 3 years.
