KARACHI: The total deposits held by scheduled banks have shown a growth of around 15% YoY to around Rs22.8 trillion in June 2022, against Rs19.79tr in the same month of last year on account of strong overseas inflows, according to a report by Mettis Global.
Quoting data released by the SBP, the report states that on a monthly basis, local banks’ deposits showed an increase of 8% from Rs21tr in May 2022.
Investments jumped to Rs17.4tr in June 2022, showing a growth of 27% on a yearly basis. On a sequential basis, the total investments by commercial banks grew by 12% from Rs15.5tr in the previous month.
Consequently, banks’ investment to deposit ratio (IDR) surged by 695bps to 76.5% by end of June 2022 compared to 69.4% in the same month last year, whereas on a monthly basis, it has moved up by 282bps from 73.5%.
Similarly, demand for advances posted positive growth of 21% YoY during the month under review to Rs10.9tr. While, on a monthly basis, it remained flat.
