Banking Sector: Net investments rise 1.8% in Q3CY17
Investment in government securities have remained the prime driver behind investments growth
ISLAMABAD:
Overall net investments of the banking sector surged by 1.8% during the third quarter (Q3) of calendar year 2017 against a decline of 2.5% in the same period last year. Investment in government securities have remained the prime driver behind investments growth, officials data revealed. Following the recent trend, banks have continued to invest in short-term Market Treasury Bills (MTBs) and have divested from Pakistan Investment Bonds (PIBs) and Sukuks (Rs11.7 billion) during Q3CY17, according to Quarterly Performance Review of the Banking Sector issued by the State Bank of Pakistan.
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Consequently, the share of MTBs (in total net investments) has increased to 52.6% in Q3CY17 compared to 42% in Q3CY16 while the share of PIBs in total investments has declined to 35.3%, the data revealed.
Published in The Express Tribune, December 19th, 2017.
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