The total deposits held by scheduled banks have shown a growth of 17% YoY to around Rs20 trillion in the first month of the calendar year i.e., January 2022, against Rs17.09tn in the same month of last year on account of strong overseas inflows, data issued by State Bank showed on Thursday.
However, on a monthly basis, local banks’ deposits showed a slight decrease of 5% from Rs20.97tn in December 2021. According to the data provided by SBP, investments jumped to Rs14.42tn in Jan’22, showing a growth of 26% on a yearly basis. The higher growth in investments can be attributed to higher borrowings by the sector.—TLTP
