Surge in Bank Deposits: YoY Increase of 23% to Reach Rs27.7 Trillion in December

In December 2023, the collective deposits held by scheduled banks experienced a substantial YoY growth of 23.2%, reaching Rs27.68 trillion, compared to Rs22.47 trillion in December 2022.

According to the latest data provided by the State Bank of Pakistan (SBP), there was a notable monthly increase of 3.29%, with total bank deposits standing at Rs26.8 trillion in November 2023.

Simultaneously, total advances witnessed a 3.65% YoY uptick, reaching Rs12.35 trillion in contrast to Rs11.91 trillion from the previous year. On a monthly basis, advances also increased by 3.2%, climbing from Rs11.96 trillion in November 2023.

The Advances to Deposit Ratio (ADR) exhibited a YoY decrease of 8.42%, settling at 44.61%. Furthermore, there was a marginal 4 bps decrease on a monthly basis.

Scheduled Banks' total investments amounted to Rs25.54 trillion, marking a significant YoY surge of 42.67% from Rs17.9 trillion a year ago. In comparison to the previous month's Rs24.59 trillion, there was a 3.88% monthly increase.

The Investment to Deposit Ratio (IDR) showed a robust 12.59% YoY increase, reaching 92.27% in December 2023 compared to the same month in 2022. Additionally, it registered a monthly rise of 52 bps.