Islamic banking assets soared by ‘historic’ Rs1,300 billion: SBP
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The State Bank of Pakistan (SBP) on Friday said that in the last year, 2021, a ‘historic’ increase by Rs1,300 billion (30.6 percent) was recorded in the assets of Islamic banking, reported 24NewsHD TV channel.
In its report, the bank said with that substantial increase, the assets reached Rs5, 577 billion.
1/2 Islamic banking industry has reached new peaks during CY21 as its assets surpassed 5 trillion mark to reach Rs5.6 trillion with highest ever increase of Rs1.3 trillion, whereas deposits reached at Rs4.2trillion with an increase of Rs822 billion. See https://t.co/pLfiDV3nl6
— SBP (@StateBank_Pak) April 1, 2022
The report read that after an increase by Rs822 billion (24.2 per cent), the Islamic banking deposits reached Rs4211 billion in the preceding year.
2/2 As a result of this strong growth, market share of Islamic banking assets and deposits in the overall banking industry has increased to 18.6% and 19.4% by end Dec21. See Report at: https://t.co/7dgvr9rndO
— SBP (@StateBank_Pak) April 1, 2022
Reporter: Ashraf Khan