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Banks get Rs221bn cash

Banks get Rs221bn cash

THE government raised Rs152.301bn from the auction of Pakistan Investment Bonds held last Thursday despite having received bids of Rs266.549bn.

It generated Rs81.032bn from five-year bonds at a cut-off yield of 7.0492pc, Rs63.112bn from three- year bonds at 6.3469pc and Rs8.156bn from 10-year bonds at 8.2505pc.

Five-year PIBs attracted the highest amount of Rs121.653bn followed by three-year Rs110.869bn and 10-year Rs34.027bn. No bids were received for 20-year bonds.

The State Bank of Pakistan pumped in Rs221.6bn into the banking system on Feb 25. This injection was made in an eight-day contract at 6.07pc. The central bank had received bids worth Rs234.6n.

According to the weekly statement of position of all scheduled banks for the week ended Feb 12, 2016, deposits and other accounts of all scheduled banks stood at Rs9,363.033bn over the preceding week’s Rs9,347.521bn, a rise of 0.16pc. Compared with last year’s corresponding figure of Rs8398.978bn, it was higher by 11.48pc.

Deposits and other accounts of all commercial banks rose 0.17pc to Rs9,324.016bn against preceding week’s Rs9,308.263bn. Specialised banks’ deposits and other accounts stood at Rs39.017bn against previous week’s Rs39.259bn.

Total assets of all scheduled banks stood at Rs13,361.393bn smaller by 0.61pc over preceding week’s Rs13,442.804bn.

All commercial banks’ total assets dipped 0.62pc to Rs13,147.708bn from Rs13,229.307bn during the preceding week. Gross advances of all scheduled banks decreased 0.17pc to Rs4,828.434bn from Rs4,836.479bn during the preceding week. Advances by all commercial banks fell to Rs4,668.483bn from Rs4,676.925bn in the previous week.

Borrowings by all scheduled banks dropped 5.6pc to Rs1,913.770bn from Rs2,027.356bn during the preceding week. Commercial banks’ combined borrowings also declined 5.70pc to Rs1,881.085bn from Rs1,994.683bn in the previous week.

Investments of all scheduled banks remained steady at Rs6,798.631bn against preceding week’s Rs6796.038bn. Compared to last year’s corresponding figure of Rs5,425.490bn, it was higher by 25.30pc.

According to the weekly Statement of Affairs of the State Bank of Pakistan for the week ended February 12, notes in circulation increased to Rs3182.262bn over preceding week’s Rs3154.010bn.

Courtesy : Dawn News



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