Private sector loans show modest rise in November

ISLAMABAD: 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 of Pakistan (SBP).

The total volume of loans provided to the private sector during the month reached Rs 8,191 billion, marking a 1.1 percent increase from the October figure of Rs 8,100 billion.

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 Rs 8,203 billion, which slightly decreased to Rs 8,191 billion in the corresponding month this year.

Breaking down the data, the SBP reported that loans extended to private sector businesses in November totaled Rs 7,053 billion, reflecting a slight 0.1 percent dip from the same period last year when the figure stood at Rs 7,044 billion. – INP