Deposits at commercial banks reach all-time high, cross Rs17.955 trillion: SBP

KARACHI: The deposits at the commercial banks in the country have reached an all-time high in the history of the country, crossing over the Rs17.955 trillion mark, ARY NEWS reported quoting the State Bank of Pakistan (SBP).

According to the figures provided by the SBP, the deposits with the commercial banks have crossed the mark of Rs17,955 billion in May 2021.

The deposits at the commercial banks saw an increase of Rs 394 billion in May 2021 as compared to the previous month of April. It further emerged that the bank deposits saw an increase of Rs870 billion during the five months of the fiscal year.

It is pertinent to mention here that the State Bank of Pakistan’s (SBP) foreign exchange reserves were recorded at 16,417.3 million during the week ending on June 11, showing an increase of $4 million or 0.01%.

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According to the central bank, Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,586.5 million.

Net reserves held by banks amounted to $7,169.2 mn. The central bank gave no reason for the increase in reserves.