Loans extended by banks to the private sector witnessed a month-on-month growth of 1.1 percent in November, according to data released by the State Bank. The total volume of loans provided to the private sector during the month reached 8191 billion rupees, marking a 1.1% increase from the October figure of 8100 billion rupees. However, when compared to the same period last year, there was a marginal decline of 0.2 percent in the provision of loans to the private sector on an annual basis. In November of the previous year, banks had disbursed loans amounting to 8203 billion rupees, which slightly decreased to 8191 billion rupees in the corresponding month this year. Breaking down the data, the State Bank reported that loans extended to private sector businesses in November totaled 7053 billion rupees, reflecting a slight 0.1% dip from the same period last year when the figure stood at 7044 billion rupees.

Credit: Independent News Pakistan (INP)