Bank credit falls on deposit rate rise
August 13, 2008 KARACHI (APP) - Banks credit has recorded a decline of 3.8 percent to Rs 2.85 trillion since May 2008 to July 2008 when State Bank of Pakistan asked banks to ensure a minimum 5 percent return on PLS saving deposits, analysts said here Wednesday.
Quoting SBP’s data for seven months till July 2008, an analyst at First National Equity said that credit off take was going up and reached Rs 2.96 trillion when Central Bank issued instruction on banking spread.
Post New Comment