Karachi: According to figures released by the State Bank of Pakistan, bank deposits in Pakistan have reached a historic high.
According to the State Bank, there has been a significant increase of 17.90% in bank deposits in one year, from August 2022 to August 2023, resulting in an increase of PKR 3,958 billion in bank deposits.
By the end of August 2023, bank deposits reached the highest level of PKR 26.11 trillion. According to the Central Bank, there was a 1.60% increase in bank deposits in August 2023 compared to July 2023, with a monthly increase of PKR 408 billion in bank deposits.
In the previous year, there was an increase of PKR 2,699 billion in banking deposits in one year in July, and as of June 2023, bank deposits had reached the highest level of PKR 25.508 trillion.
The State Bank had previously stated that there was a record increase of 11.80% in banking deposits in one year. From May 2023 to June 2023, there was a record increase of PKR 1,120 billion in banking deposits, whereas in June 2022, banking deposits were PKR 22.809 trillion.