July 16, 2007	Monday	Jamadi-us-Sani 30, 1428

On July 10, the State Bank of Pakistan mopped up Rs36.5 billion in an open market operation. The market was fairly liquid as it had received an inflow of Rs24 billion through maturity of a previous OMO. Following the OMO the overnight rate rose to 9.25 per cent from 8.25 per cent.

According to the weekly statement of position of all scheduled banks for the week ended June 30, 2007, deposits and other accounts of the scheduled banks stood at Rs3,460.811 billion, higher by Rs130.52 billion over preceding week’s figure of Rs3,330.291 billion. Commercial banks deposits showed a rise of Rs129.295 billion over the week to Rs3,447.591 billion, against preceding week’s Rs3,318.296 billion. Specialized banks deposits stood at Rs13.220 billion, against preceding week’s Rs11,996 billion, a rise of Rs1.224 billion.

Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs497.065 billion over preceding week’s figure of Rs417.562 billion, a rise of Rs79.503 billion. This was primarily due to an increase in the borrowings by commercial banks, which rose to Rs411.499 billion against previous week’s Rs330.040 billion, or by Rs78.459 billion. Borrowings by specialized banks stood at Rs85.567 billion, against preceding week’s figure of Rs84.522 billion, a rise of Rs1.045 billion.

Gross advances stood at Rs2,484.495 billion in the week under review, a rise of Rs43.201 billion over preceding week’s figure of Rs2,441.294 billion. Advances by commercial banks rose to Rs2,389.956 billion against earlier week’s figure of Rs2,347.039 billion, or by Rs42.917 billion. Advances of specialized banks stood at Rs94.539 billion, smaller by Rs0.284 million over earlier week’s figure of Rs94.255.

Investments of all scheduled banks increased in the week by Rs35.07 billion to Rs1,115.913 billion against preceding week’s figure of Rs1,080.843 billion. Commercial banks investment rose to Rs1,104.831 billion, from earlier week’s Rs1,069.593 billion, larger by Rs35.238 billion. Specialized banks investment stood at Rs11.082 billion, against preceding week’s Rs11.250 billion.

Cash and balances with treasury banks of all scheduled banks increased by Rs42.254 billion during the week to stand at Rs397.352 billion against earlier week’s Rs355.098 billion. The figure for commercial banks stood at Rs394.479 billion against preceding week’s figure of Rs352.658 billion, a rise of Rs41.821 billion.

Total assets of scheduled banks stood at Rs4,701.641 billion, higher by Rs236.052 billion, over preceding week’s figure of Rs4,465.589 billion. Meanwhile, commercial banks assets stood at Rs4,581.531 billion, higher by Rs232.316 billion over previous week’s figure of Rs4,349.215 billion. Specialized banks assets rose to Rs120.110 billion, higher by Rs3.736 billion over previous week’s Rs116.374 billion.