Bank deposits surge to all-time high
Register 14-year high growth rate of 22%, stand at Rs19.8tr at end of FY21
Going forward, average deposits are expected to grow 15% from 2021-23 compared to last 10-year average growth of 13%. PHOTO: FILE
KARACHI:
Government, private sector and household deposits with banks in Pakistan grew 22% - the fastest pace in 14 years - to touch an all-time high of Rs19.8 trillion in fiscal year ended June 30, 2021 in the wake of a turnaround in the national economy.
Bank deposits had stood at Rs16.2 trillion a year ago on June 30, 2020, according to Topline Research.
“Acceleration in economic activities directly supports deposit growth as businesses and people earn more,” Arif Habib Limited Head of Research Tahir Abbas said.