Bank deposits witness hike by 13.2pc: SBP

Written by The Frontier Post

KARACHI (INP): The State Bank of Pakistan (SBP) on Thursday announced a record 13.2 percent hike in the bank deposits during the first 10 months of the ongoing year 2021. According to the Central bank, the bank deposits in January 2021 stood at Rs17,085 billion and raised to Rs19,343 billion at the end of 10 months of the ongoing year, witnessing a 13.2 percent hike.
It further shared that bank deposits in September were all-time high at Rs19,829 billion, however, Rs586 billion was withdrawn during the month of October. It is pertinent to mention here that the State Bank of Pakistan (SBP) recently decided to increase the average Cash Reserve Requirement (CRR), to be maintained during a period of two weeks by scheduled banks

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The Frontier Post