The State Bank of Pakistan has reported that along with the rise in bank deposits, there has been an increase in purchases using credit cards across the country.
The State Bank mentioned that from January 2023 to 2024, there was a record increase of 21% in bank deposits. By the end of January 2024, bank deposits reached 27.54 trillion rupees.
They revealed that in January 2023, bank deposits were 22.754 trillion rupees, and by December 2023, a record high of 27.84 trillion rupees was recorded.
During December, there was a 24.5% annual increase in purchases made with credit cards. The trend of increased purchases through credit cards is noticeable nationwide.
The State Bank has provided financial statistics for 2022 and 2023. In December 2023 alone, purchases exceeding 108 billion rupees were made using credit cards. This represented a 24.5% increase compared to December 2022.
