SBP injects Rs 90 billion into market
Last week, the State Bank of Pakistan conducted two open market operations and pumped a cumulative Rs90 billion into the banking system. On Tuesday, the central bank injected Rs40 billion at 6.07pc for a three-day contract and on Thursday Rs50 billion for one-day contract at 6.08pc. It received bids of Rs72 billion and Rs70 billion, respectively. According to the weekly statement of position of all scheduled banks for the week ended Jan 29, 2016, deposits and other accounts of all scheduled banks increased 0.41pc to Rs9,408.102 billion from Rs9,370bn in the preceding week. Compared with last year's Rs8,463.711 billion, it was higher by 11.16pc. Deposits and other accounts of all commercial banks also rose 0.42pc to Rs9,368.465 billion from Rs9,329.486 billion during the preceding week. Total assets of all scheduled banks registered a rise of 1.13pc to Rs13,339.535 billion from Rs13,190.620 billion in the preceding week. Compared with last year's corresponding figure of Rs11,540.703 billion, it was higher by 15.58pc. All commercial banks' combined assets showed 1.17pc increase to Rs13,125.237 billion from Rs12,972.835 billion in the preceding week.