KARACHI: Banks have made cash recovery of an amount of Rs21.17 billion against non-performing loans (NPLs) during the quarter ended March 31, 2021, according to data released by State Bank of Pakistan (SBP) on Friday.
The cash recovery against NPLs was Rs49.23 billion for the quarter ended December 31, 2020. Therefore, the recovery fell by 57 percent when compared the two quarters.
The breakup revealed that all commercial banks made cash recovery of Rs15.98 billion during quarter ended March 31, 2021 as compared with Rs27.4 billion in the quarter ended December 31, 2020.
The data showed that the public sector banks could only made recovery of Rs2.55 billion during the quarter under review as compared with Rs11.06 billion in the preceding quarter.
It also revealed that the local private banks made cash recovery of Rs13.4 billion against NPLs during the quarter ended March 31, 2021 as compared with Rs16.33 billion during the quarter ended December 31, 2020.
Total NPLs of all banks and Development Financial Institutions (DFIs) for the quarter ended March 31, 2021 increased to Rs866.74 billion while net NPLs for the quarter were Rs110 billion.
Whereas, the total NPLs for all banks and DFIs for the quarter ended December 31, 2020 were Rs844.66 billion while net NPLs for the quarter were Rs100 billion.
