Total bank loans to the private sector clocked in at Rs. 9.27 trillion in 11 months of the current financial year 2023-24 from Rs. 9.16 trillion by the end of FY23.
According to the State Bank of Pakistan (SBP), net borrowing by the private sector clocked in at Rs. 106.3 billion between July 2023 and May 24, 2024, compared to Rs. 72.2 billion reported in the same period last year, showing an increase of 47.3 percent year-on-year or Rs. 34.1 billion from last year.
Conventional banking branches loaned Rs. 26 billion to the private sector from July 2023 till May 24, 2024, as compared to lending an aggregate amount of Rs. 91.9 billion in SPLY.
Financing from Islamic banks declined by 88 percent YoY from Rs. 448 billion in FY23 to Rs. 53.3 billion this year. Islamic banking branches of conventional banks provided credit to the tune of Rs. 26.8 billion during the period in review compared to a negative impact of Rs. 431.6 billion in SPLY.
The government paid back Rs. 598 billion to the central bank from July 2023 till May 24, 2024, whereas it borrowed an amount of Rs. 5.68 trillion from scheduled banks on account of budgetary support in 11MFY23.
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