The State Bank of Pakistan (SBP) has urged banks to boost retail deposits and private-sector financing to support Pakistan’s next phase of sustainable economic growth.
Addressing the 11th Pakistan Banking Awards 2026 in Karachi, SBP Governor Jameel Ahmed said the economy had shown resilience despite floods, geopolitical tensions and global trade uncertainties during FY26.
He noted that inflation remained near the medium-term target, while foreign exchange reserves surpassed the $18 billion end-June target, supported mainly by SBP’s foreign exchange purchases.
The Governor said banks’ total assets had reached Rs69 trillion and deposits Rs43 trillion by end-June 2026, while capital adequacy and profitability remained strong. However, he highlighted the need to reduce reliance on cash and expand the banking deposit base, urging banks to offer competitive returns and better services to attract retail customers.
He also called for greater private-sector lending, noting that Pakistan’s credit-to-GDP ratio remains well below that of many emerging economies. He urged banks to realign their business models toward higher deposit mobilization and increased financing for businesses.
At the awards ceremony, Meezan Bank Limited was named Best Bank. Other major winners included Bank of Punjab for Women Inclusion, SME and Agriculture Inclusion; Bank Alfalah for Digital Excellence; Meezan Bank for Customer Engagement; and HBL for ESG.
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