The government raised just Rs39.39bn from the auction of Pakistan Investment Bonds of various tenors held last Thursday, smaller against the received amount of Rs137.89bn.

It generated Rs28.98bn from three year PIBs at a cut off yield of 6.40pc, followed by five year PIBs with Rs10.40bn at 6.89pc, and 10 year PIBs Rs1.06m at 7.94pc.

Three year PIBs attracted the highest amount of Rs82.44bn: 5 year PIBs Rs34.57bn, and 10 year PIBs Rs20.87bn. No bids were received for 20 year PIBs.

Last Thursday, the State Bank of Pakistan, injected Rs183bn into the banking system through an Open Market Operation, against an offered amount of Rs214.50bn. The amount was accepted at 5.85pc and was for a one day contract.

Deposits and other accounts of all scheduled banks stood at Rs10,703.99bn, a 0.05pc decrease over the preceding week’s Rs10,709.34bn

According to the weekly statement of position of all scheduled banks for the week ended January 27, 2017 deposits and other accounts of all scheduled banks stood at Rs10,703.99bn after a 0.05pc decrease over the preceding week’s figure of Rs10,709.34bn.

Compared with last year’s corresponding figure of Rs9,408.10bn, the current week’s figure was higher by 13.77pc.

Deposits and other accounts of all commercial banks stood at Rs10634.11bn against preceding week’s deposits of Rs10639.94bn, showing a decline of 0.05pc. Deposits and other accounts of specialised banks stood at Rs69.87bn, higher by 0.70pc against previous week’s figure of Rs69.39bn.

Total assets of all scheduled banks stood at Rs14,701.60bn, lower by 0.18pc over preceding week’s figure of Rs14,729.22bn. Current week’s figure is higher by10.21pc compared to last year’s corresponding figure of Rs13,339.53bn.

Total assets of all commercial banks stood at Rs14,452.21bn, smaller by 0.20pc over previous week’s figure of Rs14,480.08bn, while total assets of specialised banks at Rs249.38bn, were larger 0.10pc over the previous week’sRs249.13bn.

Gross advances of all scheduled banks stood at Rs5,467.78bn, higher by 0.14pc over the preceding week’s figure of 5,459.87bn. Compared with last year’s corresponding figure of Rs4,840.34bn, current week’s figure is higher by 12.96pc.

Advances by all commercial banks increased to Rs5,302.15bn from previous week’s Rs5,294.23bn indicating a rise of 0.15pc, whereas advances of specialised banks stood at Rs165.62bn against previous week’s Rs165.63bn.

Borrowings by all scheduled banks decreased in the week under review. It fell by 1.64pc to Rs1,898.31bn against previous week’s Rs1,929.95bn. Compared to last year’s corresponding figure of Rs1,899.35bn, current week’s figure is lower by 0.05pc.

Borrowings by commercial banks in the week at Rs1,816.09bn were lower by 1.72pc against previous week’s Rs1,847.94bn. Borrowings by specialised banks stood at Rs82.22bn against the previous week’s Rs82bn.

Investments of all scheduled banks stood at Rs7,373.84bn against preceding week’s figure of Rs7,401.78bn, showing a decrease of 0.38pc. Compared to last year’s corresponding figure of Rs6,819.17bn, current week’s figure is higher by 8.13pc.

Published in Dawn, Business & Finance weekly, February 13th, 2017