The State Bank of Pakistan said on Wednesday it had recorded the highest growth of ’30 pc’ since 2015 in assets and deposits for the period until year 2020.
“The overall assets and deposits of the industry (IBI) have shown tremendous growth of 30 per cent and 27.8 pc, respectively, during CY2020,” said the press statement by the central bank.
The Bulletin for Oct-Dec 2020 quarter, by the country’s financial hub, noted this was the highest increase in assets in a year since 2012, while on the deposits, since 2015.
“Over the last five years, both assets and deposits of the Industry have more than doubled.”
It said the growth is encouraging “particularly due to the fact that the industry was also faced with the Covid19 pandemic challenges during 2020”.
According to its bulletin, the assets of the IBI increased to Rs4,269 billion, whereas deposits reached Rs3,389 billion by the end of December 2020 which mark a 17.0 pc composition in total assets while respectively, an 18.3 pc in total deposits recorded by the overall banking industry in this period.