{"id":66989,"date":"2020-06-22T17:57:04","date_gmt":"2020-06-22T12:57:04","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66989"},"modified":"2020-06-22T18:05:03","modified_gmt":"2020-06-22T13:05:03","slug":"pakistans-banking-sector-exhibited-stellar-performance-2019-exclusive-statistics-shared","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistans-banking-sector-exhibited-stellar-performance-2019-exclusive-statistics-shared.html","title":{"rendered":"&#8216;Pakistan&#8217;s banking sector exhibited stellar performance in 2019&#8217;; exclusive statistics shared"},"content":{"rendered":"\n<p>Lahore: A report, compiled by the KPMG Taseer Hadi &amp; Co Chartered Accountants, recently revealed that Pakistan\u2019s banking sector had exhibited &#8216;stellar performance\u2019 in 2019, a news source reported. The publication further indicates that an increase in interest rates during 2018 was the reason behind the 27.5% rise in profitability seen during the preceding period.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-warns-public-against-fake-callers-impersonating-as-its-banking-officials.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP warns public against fake callers impersonating as its banking officials<\/a><\/p>\n\n\n\n<p>The report also revealed that the Islamic Banking sector also performed well; registering an increase of 90.6% in profitability. It added that the overall banking industry showed an annual increase of 12.3% in deposits and 4.7% growth in advances. According to this report, the availability of government paper and high returns also contributed to banks earning healthy and secure returns.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/measures-boosting-remittances-official-banking-channels-approved.html\" target=\"_blank\" rel=\"noreferrer noopener\">Measures for boosting remittances via official banking channels approved<\/a><\/p>\n\n\n\n<p>The report was of the view that 2020 would be a difficult year for the banking sector given the ongoing pandemic. It added that post-pandemic situation was unpredictable as the profitability was expected to be under pressure due to reduced offtake of advances because of recessionary market conditions. Similarly, cautious customer outlook, decrease in fee income on distribution of wealth products due to volatility in capital markers, and increased credit losses as a consequence of lockdowns would also contribute to a difficult year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: A report, compiled by the KPMG Taseer Hadi &amp; Co Chartered Accountants, recently revealed that Pakistan\u2019s banking sector had exhibited &#8216;stellar performance\u2019 in 2019, a news source reported. The publication further indicates that an increase in interest rates during 2018 was the reason behind the 27.5% rise in profitability seen during the preceding period. Read: SBP warns public against fake callers impersonating as its banking officials The report also revealed that the Islamic Banking sector also performed well; registering an increase of 90.6% in profitability. It added that the overall banking industry showed an annual increase of 12.3% in deposits and 4.7% growth in advances. According to this report, the availability of government paper and high returns also contributed to banks earning healthy and secure returns. Read: Measures for boosting remittances via official banking channels approved The report was of the view that 2020 would be a difficult year for the banking sector given the ongoing pandemic. It added that post-pandemic situation was unpredictable as the profitability was expected to be under pressure due to reduced offtake of advances because of recessionary market conditions. Similarly, cautious customer outlook, decrease in fee income on distribution of wealth products due to&hellip;<\/p>\n","protected":false},"author":68,"featured_media":66990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[32530],"persona":[],"class_list":{"0":"post-66989","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-details-on-pakistans-banking-sector-exhibited-stellar-performance-in-2019-exclusive-statistics-shared","9":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>&#039;Pakistan&#039;s banking sector exhibited stellar performance in 2019&#039;; exclusive statistics shared - Zameen News<\/title>\n<meta name=\"description\" content=\"A report recently revealed that Pakistan\u2019s banking sector had exhibited &#039;stellar performance\u2019 in 2019, a news source reported.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pakistans-banking-sector-exhibited-stellar-performance-2019-exclusive-statistics-shared.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;Pakistan&#039;s banking sector exhibited stellar performance in 2019&#039;; 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