KARACHI, April 15, 2026 – Bank deposits in Pakistan surged to an all-time high of Rs37.51 trillion by the end of March 2026, according to data released by the State Bank of Pakistan (SBP) on Wednesday, reflecting continued growth in the country’s banking sector despite monetary easing.
The latest figure marks a rise from Rs36.59 trillion recorded in February 2026 and a significant increase from Rs31.62 trillion in March 2025. The previous record level stood at Rs37.48 trillion, reached in December 2025, indicating a steady upward trend in deposit mobilisation across the banking system.
The data shows that deposit growth has continued even as the central bank has sharply reduced interest rates in recent policy cycles. The SBP has lowered its benchmark policy rate by a cumulative 10.50 percentage points from 22%, in a bid to support economic activity and ease inflationary pressures.
Analysts say the sustained increase in deposits reflects a combination of factors, including cautious investor sentiment amid geopolitical uncertainty and the continued attractiveness of the formal banking system as a safe haven for liquidity. They also point to increased government borrowing from banks to finance the fiscal deficit, which has helped support overall deposit growth.
Meanwhile, advances of commercial banks also edged higher to Rs14.55 trillion in March 2026, compared with Rs14.53 trillion in February 2026 and Rs13.47 trillion in March 2025, indicating gradual credit expansion in the economy.
On the investment side, commercial banks’ total investments stood at Rs39.13 trillion at the end of March 2026, slightly lower than Rs39.16 trillion in February 2026 but sharply higher than Rs32.38 trillion in March 2025, highlighting strong portfolio growth over the year.
The SBP data suggests that Pakistan’s banking sector continues to expand its balance sheet, driven by strong deposit inflows and sustained government financing needs, even as monetary policy remains in an easing cycle.