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Friday, November 15, 2024

Home Business Bank deposits snowballed to Rs27,540b: SBP

Bank deposits snowballed to Rs27,540b: SBP

by News desk
February 28, 2024
in Business

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The State Bank of Pakistan (SBP) on Tuesday reveled that bank deposits have registered 21 percent growth during 2023-2024.

According to the SBP report, during one year from January 2023 to January 2024 bank deposits have jumped 4,786 billion rupees and reached Rs27,540 billion. In January 2023 the bank deposits were 22,754 billion rupees.

Experts said amid high markup rates, investors showed keen interests in bank deposits.

It is pertinent to mention that during September 2012 till to date, central bank raised interest rate to 15 percent. During this period interest rate seen spike from 7 percent to record current 22 percent. —Agencies