Karachi December 28 2022: Islamic banking deposits grow by 31.4 percent year on year to PKR 5,021 billion with market share of deposits in the overall banking rose to 21 percent by end September, 2022, according to report published by State Bank of Pakistan.
Assets of Islamic Banking Industry (IBI) grew by PKR 121 billion during the quarter July to September, 2022 and were recorded at PKR 6,902 billion by end September, 2022. Deposits of IBI also increased by PKR 165 billion during the period under review and crossed the five trillion mark to reach PKR 5,021 billion by end September, 2022. The year on year (YoY) growth of assets and deposits of IBI was recorded at 41.3 percent and 31.4 percent, respectively by end September, 2022.
The market share of assets and deposits of IBI in the overall banking industry rose to 20 percent and 21 percent, respectively by end September, 2022.
During the period under review, net investments and financing of IBI observed a growth of PKR 149 billion and PKR 24 billion, respectively. As a result, the market shares of financing of IBI in advances of overall banking industry reached at 27 percent while share of investment reached at 15.7 percent by end September, 2022.
The network of IBI comprised of 22 Islamic Banking Institutions (IBIs), including 5 full-fledged Islamic Banks (IBs) and 17 Conventional Banks having Islamic Banking Branches (IBBs). During the period under review, 105 branches were added to the branch network of IBI. With this addition, the branch network of IBI reached to 4,191 (spread across 129 districts of the country) by end September, 2022.
The Islamic banking windows (dedicated counters at conventional branches) operated by IBBs stood at 1,467 by end September, 2022.
