KARACHI, May 15, 2025 — For the first time ever, bank deposits in Pakistan have crossed the Rs32 trillion milestone, marking a historic achievement in the country’s financial landscape.
According to the latest data released by the State Bank of Pakistan (SBP), bank deposits reached Rs32.32 trillion by the end of April 2025, reflecting a strong year-on-year growth of 13.72% compared to Rs28.42 trillion in April 2024.
On a month-on-month basis, bank deposits also rose by 2.18%, up from Rs31.63 trillion in March 2025, highlighting continued confidence among depositors despite economic uncertainty.
This surge in deposits comes at a time when the SBP has significantly eased its monetary policy stance. Since the beginning of the current fiscal year, the central bank has gradually lowered interest rates to stimulate economic activity. In its most recent monetary policy statement, the SBP slashed the benchmark interest rate by 100 basis points, bringing it down to 11%. Over the past year, the policy rate has been reduced from an all-time high of 22% to the current level.
Banking sector analysts attribute the sharp increase in bank deposits to the growing adoption of digital banking platforms and mobile payment solutions, which have expanded the formal financial system’s outreach. “The digital payment revolution has played a critical role in improving financial inclusion and encouraging more individuals and businesses to park their funds in the banking system,” an analyst noted.
While bank deposits have hit a record high, credit activity has also picked up momentum. The SBP data shows that total bank advances climbed to Rs13.14 trillion by the end of April 2025, up from Rs12.03 trillion a year earlier. Notably, advances had peaked at Rs16 trillion by December 2024, as banks aggressively lent to the private sector to comply with regulatory requirements on the advances-to-deposits ratio.
Experts believe that this dual trend of rising deposits and expanding credit reflects growing confidence in the banking sector and suggests a gradual economic revival supported by proactive monetary and fiscal policies.