Banking deposits increase by 18pc in November

Banking deposits increase by 18pc in November

KARACHI: Deposits of the banking system have increased by 18 percent to Rs16.84 trillion by end of November 2020 as compared with same month of the last year, according to details released by the State Bank of Pakistan (SBP).

The banking deposits were at Rs14.31 trillion by November 2019.

The deposits of the banking system have increased by 1.1 percent in November 2020 as compared with Rs16.66 billion in October 2020.

The banking deposits hit all time high of Rs16.88 trillion in September 2020.

Banking experts said that the deposits were increasing due to second phase of coronavirus. In the first phase the deposits witnessed significant increase due to shrinking investment avenues.

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