State Bank sucks in Rs 33.5b

The Pak Banker - - FRONT PAGE - Staff Re­porter

The gov­ern­ment raised just Rs126.4bn from the auc­tion of Pak­istan In­vest­ment Bonds of var­i­ous tenors on March 22 de­spite re­ceiv­ing bids of Rs241.401bn.

It gen­er­ated Rs70.354bn from five-year bonds at a cut-off yield of 7pc, Rs37.229bn from three-year bonds at 6.3204pc and Rs18.777bn from 10-year PIBs at 8.2296pc. The cen­tral bank mopped up Rs33.5bn from the bank­ing sys­tem on Thurs­day, in an open mar­ket op­er­a­tion. The OMO was for a one-day tenor at 5.95pc .Two days ear­lier the cen­tral bank had in­jected Rs114.200bn into the bank­ing sys­tem. The in­jec­tion was made in a three-day con­tract where the rate of re­turn was 6.03pc.

Ac­cord­ing to the weekly state­ment of po­si­tion of all sched­uled banks for the week ended March 11, 2016, de­posits and other ac­counts of all sched­uled banks in­creased 0.36pc to Rs9,446.922bn from Rs9,412.624bn a week ago. It was higher by 11.48pc when com­pared with Rs8473.452bn in the same week last year.

De­posits and other ac­counts of all com­mer­cial banks rose to Rs9,408.870bn against pre­ced­ing week's Rs9374.860bn.

To­tal as­sets of all sched­uled banks fell to Rs13,491.827bn from Rs13,495.424bn in a week ago. It was higher by 15.44pc com­pared with same week last year's Rs11,687.326bn. All com­mer­cial banks' to­tal as­sets eased to Rs13,281.557bn from pre­vi­ous week's Rs13,284.270bn.

Sched­uled banks' gross ad­vances dipped to Rs4,826.901bn from Rs4,835.198bn in the pre­ced­ing week. Ad­vances by all com­mer­cial banks rose 0.19pc to Rs4,665.460bn against pre­vi­ous week's Rs4,674.356bn.

Bor­row­ings by all sched­uled banks de­creased 1.64pc to Rs1,957.814bn over pre­vi­ous week's Rs1,990.447bn. Com­pared to last year's cor­re­spond­ing fig­ure of Rs1321.904bn, it was higher by 48.10pc. Com­mer­cial banks' bor- row­ings also de­clined 1.63pc to Rs1,926.898bn from pre­vi­ous week's Rs1,958.843bn.

In­vest­ments of all sched­uled banks down 0.07pc at Rs7,034.074bn against pre­ced­ing week's Rs7,039.337bn. Com­pared to last year's cor­re­spond­ing fig­ure of Rs5,639.485bn, it was higher by 24.73pc. Com­mer­cial banks' com­bined in­vest­ments fell to Rs7,004.535bn from pre­ced­ing week's Rs7008.715bn. Ac­cord­ing to the weekly State­ment of Af­fairs of the State Bank of Pak­istan for the week ended March11, notes in cir­cu­la­tion in­creased to Rs3,225.841bn over pre­ced­ing week's Rs3192.467bn, a rise of 1.04pc.

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