THE government raised Rs225.233bn from the Treasury bill auction held last Wednesday, missing its target of Rs300bn.

Of the total, 12-month T-bills fetched Rs189.682bn at a cut-off yield of 6.9710pc, followed by six-month T-bills with Rs29.557bn at 6.9513pc and three-month T-bills with Rs5.994bn at 6.9308pc.

The central bank had received total bids to the tune of Rs234.043bn. Investors showed most interest in 12-month T-bills, which received bids worth Rs191.085bn, followed by six-month T-bills with Rs33.519bn and three-month T-bills with Rs9.439bn.

Two days before the T-bill auction, the State Bank of Pakistan injected a huge Rs1.141tr into the banking system through an open market operation. This followed an earlier injection of Rs1.091tr on August7. The latest injection was made at 6.5pc in a four-day contract.

According to the weekly statement of position of all scheduled banks for the week ending August 7, total assets of all scheduled banks stood at Rs12562.1bn, higher by 0.41pc over the preceding week’s figure of Rs12510.28bn.

Total assets of all commercial banks stood at Rs12367.28bn in the week, up 0.42pc over the previous week’s figure of Rs12315.585bn. Total assets of all specialised banks stood at Rs194.504bn in the week, over the previous week’s Rs194.695bn.

Deposits and other accounts of all scheduled banks decreased 1.37pc to Rs8982.07bn in the week under review, against the preceding week’s figure of Rs9106.911bn.

Chart by Rehan Ahmed

Deposits and other accounts of all commercial banks stood at Rs8952.111bn in the week, against the preceding week’s level of Rs9077.074bn, down 1.38pc. Deposits and other accounts of all specialised banks stood at Rs29.958bn in the week, against the previous week’s figure of Rs29.837bn.

Borrowings by all scheduled banks increased 15pc to Rs1665.874bn in the week ending August 7, over the previous week’s figure of Rs1449.2bn. Borrowings by commercial banks rose 15.3pc to Rs1638.17bn in the week, against the previous week’s figure of Rs1420.81bn. Borrowings by specialised banks stood at Rs27.703bn in the week.

Investments of all scheduled banks stood at Rs6242.3bn in the week under review, against the preceding week’s figure of Rs6076.622bn, depicting an increase of 2.73pc. When compared with last year’s corresponding figure of Rs4384.54bn, the current week’s figure is higher by a huge 42.37pc.

Investment by all commercial banks stood at Rs6215.467bn in the week.

Published in Dawn, Economic & Business, August 24th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play