Bank advances, deposits jump
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KARACHI: Banks’ advances jumped 16 per cent year-on-year in October while it increased by 12pc month-on-month, reflecting the banks’ efforts to increase the advance-to-deposit ratio (ADR) to avoid tax.
The latest data provided by the State Bank on Monday showed that the total bank advances increased 15.8pc to Rs13.8 trillion in October compared to Rs11.9tr in the same month last year.
The data further reveals that the bank advances increased by 12pc from Rs12.3tr in September.
Banking deposits increased by 17.9pc YoY to Rs31.1tr against Rs26.4tr in Oct 2023. Deposits in Oct fell by 0.7pc month-on-month.
Published in Dawn, December 3rd, 2024