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Bank deposits jump 22pc in 2020 - Newspaper


Banking sector deposits during 2020 increased by 22 per cent or Rs3.204 trillion to hit an 18-year high at Rs17.876tr. Reuters/File
KARACHI: Banking sector deposits during 2020 increased by 22 per cent or Rs3.204 trillion to hit an 18-year high at Rs17.876tr, latest data released by the State Bank of Pakistan (SBP) showed.
On the other hand, despite a significant increase in deposits, the banks failed to energise the economy as advances remained at just 10pc of the deposits added during 2020.
As per the SBP data, the banking sector advances during 2020 were Rs332bn.
Meanwhile, the banks used higher advances to invest in government papers. During 2020, the banks invested Rs3.186tr in T-bills and Pakistan Investment Bonds, taking the total investment in the government papers to Rs11.552tr. ....

Smaiullah Tariq , Kuwait Investment Company Head Of Research , State Bank , Pakistan Investment Bonds , Pak Kuwait Investment Company Head , குவைத் முதலீடு நிறுவனம் தலை ஆஃப் ஆராய்ச்சி , நிலை வங்கி , பாக்கிஸ்தான் முதலீடு பத்திரங்கள் , பக் குவைத் முதலீடு நிறுவனம் தலை ,

Market watch: PSX shoots to over 2.5-year high


Market watch: PSX shoots to over 2.5-year high
Benchmark KSE-100 index soars 502.99 points to settle at 45,153.42
PHOTO: ONLINE
KARACHI:
The stock market achieved a major milestone as the benchmark KSE-100 index surged over 500 points and powered past the 45,000-point barrier for the first time since May 2018.
The market was buoyed by strong investors’ interest, which lifted trading volumes to 664.5 million shares. Bulls reigned supreme and stock investors welcomed the government’s decision on partial settlement of circular debt with the independent power producers (IPPs).
The rise was also attributed to upbeat data of petroleum product sales which rose in double digits. Oil sales were up 16% to 1.59 million tons in December 2020 compared to 1.37 million tons in the same month of 2019. ....

Kot Addu , Saad Hashemy , Morgan Stanley Capital International , Byco Petroleum , Development Samiullah Tariq , Kuwait Investment Company Head Of Research , National Clearing Company Of Pakistan , Arif Habib , Kot Addu Power Company , State Bank , Kuwait Investment Company Head , Express Tribune , Executive Director Saad Hashemy , Emerging Markets , Habib Limited , Pak Refinery , National Clearing Company , மோர்கன் ஸ்டான்லி மூலதனம் சர்வதேச , பயகா பெட்ரோலியம் , வளர்ச்சி சாமிிுள்லாஹ் தாரிக் , குவைத் முதலீடு நிறுவனம் தலை ஆஃப் ஆராய்ச்சி , தேசிய அழித்தல் நிறுவனம் ஆஃப் பாக்கிஸ்தான் , ஆரிப் ஹபீப் , நிலை வங்கி , குவைத் முதலீடு நிறுவனம் தலை , எக்ஸ்பிரஸ் ட்ரிப்யூன் ,