A record-breaking increase of Rs4987 billion in banking deposits has been registered during the last year as investors, buoyed by high interest rates and increased profits, are increasingly turning to banks, reported on Wednesday. According to the State Bank of Pakistan (SBP), the deposits reached Rs28, 415 billion in April, 2024 after 21 per cent jump from the last year, thus even surpassing Rs28, 321 billion registered in March, 2024.  The bank has said that the deposits soared by Rs94 billion in just one month. The SBP has further said that in the same month last year, the deposits stood at Rs23,428 billion.

Credit: Independent News Pakistan