THE government sold Rs267.371bn worth of market treasury bills last Thursday, exceeding the auction target of Rs100bn. However, the amount raised was lower than the bids received of a sum of Rs554.722bn.

On May 26, the State Bank of Pakistan injected Rs209.0bn into the banking system, at a rate of return of 5.79 pc. The amount offered was Rs231bn. The OMO was for eight-day tenor.

According to the weekly statement of position of all scheduled banks for the week ended May 13, 2016, deposits and other accounts of all scheduled banks increased 0.25pc to Rs9,691.947bn, from Rs9,667.623bn a week ago. Compared with last year’s corresponding figure of Rs8781.146bn, it was higher by 10.37pc.

Deposits and other accounts of all commercial banks inched up to Rs9,653.191bn from Rs9,628.808bn the preceding week.

Total assets of all scheduled banks jumped 1.10pc to Rs13,579.689bn from Rs13,431.807bn the previous week. It was higher by 14.12pc compared to last year’s corresponding figure of Rs11,899.844bn.

All commercial banks combined assets up 1.12pc to Rs13,372.218bn from Rs13,224.329bn in the preceding week.

Gross advances of all scheduled banks stood at Rs4,997.168bn, a rise of 0.80pc over preceding week’s figure of Rs4,957.680bn. Compared with last year’s corresponding figure of Rs4,528.321bn, it was higher by 10.35pc.

Advances by all commercial banks increased to Rs4,835.471bn against previous week’s Rs4,795.884bn, up by 0.82pc.

Borrowings by all scheduled banks increased 7.46pc to Rs1,845.455bn over previous week’s Rs1717.249bn. Compared to last year’s corresponding figure of Rs1096.151bn, it was higher by 68.36pc.

Commercial banks’ total borrowings also rose 7.83pc to Rs1,767.694bn against previous week’s Rs1,639.324bn. Investments of all scheduled banks stood at Rs6,889.155bn, against preceding week’s Rs6,822.661bn, a rise of 0.98pc.

All commercial banks’ combined investments stood at Rs6,862.241bn against preceding week’s Rs6798.338bn, an increase of 0.94pc.

Cash and balances with treasury banks of all scheduled banks increased to Rs776.194bn against previous week’s Rs742.304bn, a rise of 4.56pc.

Commercial banks’ cash and balances stood at Rs774.237bn, up by 4.58pc over previous week’s Rs740.312bn.

According to the weekly Statement of Affairs of the State Bank of Pakistan for the week ended May13, notes in circulation increased to Rs3,305.250bn over preceding week’s figure of Rs3,254.299bn, a rise of 1.56pc.

Published in Dawn, Business & Finance weekly, May 30th, 2016