E-banking transactions cross Rs7 trillion: State Bank

The value and volume of the e-banking transactions reached Rs7.6 trillion and Rs79.45 million respectively.


Web Desk February 13, 2013
The number of ATMs across Pakistan has reached a total of 6,232. PHOTO: FILE

The overall value and volume of e-banking transactions throughout the country increased during the second quarter (October to December 2012) to Rs 7.6 trillion (18.02 per cent)and Rs 79.45 (11.31 per cent) million respectively, the State Bank of Pakistan reported on Wednesday.

State Bank of Pakistan’s Payment Systems report for the second quarter of FY13 released today revealed that the branches of 484 banks in Pakistan were added to the Real-Time Online Branches (RTOB) network during the second quarter of the current fiscal year (FY13) and now 94 percent branches are offering online banking services.

Calculating the overall internet banking services across the country, overall 9,896 branches of banks out of 10,523 are offering the service.  During the second quarter, the overall value and volume of internet banking transactions had seen an increase in of 18.82 percent and 14.29 percent in the overall value and volume of internet banking from the first quarter of 2012, respectively.

The Payment Systems infrastructure in the country had also seen an increase because of the installation of 245 new Automated Teller Machines at banks around the country. Today, the number of ATMs across Pakistan has reached a total of 6,232. The report further said that ATM transactions had a major share of 61.12 percent in terms of transaction volume with an average value of Rs9,779 per transaction.

The overall e-banking transactions in value terms was 6.27 percent during the second quarter, increasing the value and volume of ATM transactions by 10.33 percent and 10.68 percent respectively in the second quarter as compared to the first quarter of the current fiscal year.

The report also said that over 20.72 million banking cards were issued in the country by the end of December, 2012, witnessing an increase of 5.33 percent in the second quarter compared to the preceding quarter.

Point of Sale (POS) terminals showed a growth of 6.25 per cent and 5.06 per cent in value and volume respectively  as compared to the first quarter of the current fiscal year, with value and volume of transactions standing at Rs22.1 billion and Rs4.5 million, respectively, in the second quarter.

The report also pointed out an increase of large-value payments through Real Time Gross Settlement (RTGS) with 9.46 percent in value and 10.35 percent in volume as compared to the first quarter. The recorded value and volume was Rs42.13 trillion and Rs12.16 billion respectively in the second quarter.

The report also revealed that major portion for the increased number of overall Pakistan Real Time Interbank Settlement Mechanism (PRISM) transactions increased 14.06 percent during the same period, which was contributed by Interbank Funds Transfers (IBFT).  Similarly, the value of overall PRISM transactions increased by 14.96 percent due to securities settlement.

COMMENTS (4)

Muhammad Hamza | 8 years ago | Reply

I think its may appear next time or not asif,but it may perhaps not come in this as it is related to whole banking system ,while the news is about e-banking.

Asif | 8 years ago | Reply

@Junaid Dar: You missed my sarcasm.

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