Pakistan bank deposits fell as amounts were raised by different PIBs


 pakistan bank deposits

Rs 44.75 billion were raised by the Pakistan Investment Bonds auction last Thursday against Rs 227.92 billion’s offered amount which generated Rs 31.02 billion from three year bonds at a cut off yield of 6.41 pc, ten year bonds at 8.02 pc (Rs 4.83 billion) and 6.91 pc from five year bonds (Rs 8.90 billion).

The highest amount was attracted by three year PIBs followed by five year and ten year PIBs through Rs 115.75 billion, Rs 70.33 billion and Rs 4.83 billion respectively. Rs 44.30 billion from the banking system were given through the open market operation while the offered amount was Rs 66.8 billion that was accepted at 5.50 pc on a one day tenor.

Compared with last year’s figure of Rs 8,880.39 billion, the current week’s figure was higher by 9.05 pc. Deposits and other accounts of specialized banks were however lesser by Rs 39.14 billion against Rs 39.19 billion. The gross advances of all scheduled banks also rose by 10.78 pc in comparison to Rs 4,560.19 billion last year.

Advances for all commercial banks also increased to Rs 4,890.58 billion against the previous week’s Rs 4,882.31 billion (0.17 pc increase) while advances for specialized banks stood at 161.22 billion in comparison to Rs 161.17 billion from the last week. The current week’s scheduled banks investments were also higher by 27.53 pc in comparison to last year during the same duration while investments for commercial banks were also higher by 27.55 pc. Henceforth investments by all specialized banks were also at a figure of rs 28.73 billion last year in comparison to this year’s Rs 30.68 billion.


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