{"id":3301,"date":"2022-10-04T05:56:19","date_gmt":"2022-10-04T05:56:19","guid":{"rendered":"https:\/\/www.newsmakers.com.pk\/en\/?p=3301"},"modified":"2022-10-04T05:56:21","modified_gmt":"2022-10-04T05:56:21","slug":"islamic-banks-assets-jump-to-all-time-high","status":"publish","type":"post","link":"https:\/\/www.newsmakers.com.pk\/en\/business\/islamic-banks-assets-jump-to-all-time-high\/3301\/","title":{"rendered":"Islamic Banks’ Assets Jump To All Time High"},"content":{"rendered":"\n

Web Desk — In April-June of this calendar year, Islamic Banking Industry assets reached an all-time high of Rs6,781 billion, an increase of Rs836 billion.<\/p>\n\n\n\n

On Monday, the SBP issued the latest Islamic Banking Bulletin, which noted that net investments and financing grew by Rs470bn and Rs269bn, respectively, during the quarter.<\/p>\n\n\n\n

As for funding, IBI’s deposits rose by Rs610bn during the period under review, reaching Rs4,856bn by June.<\/p>\n\n\n\n

As of June 30, IBI’s assets and deposits were up by 41.4% (Rs1,984bn) and 27.1% (Rs1,034bn), respectively. In the overall banking industry, Islamic banking assets and deposits accounted for 19.5% and 20.55%, respectively.<\/p>\n\n\n\n

As of June 30, 2021, IBI’s share of advances in the overall banking industry was 27.2 percent, up from 24 percent.<\/p>\n\n\n\n

IBI’s assets grew by 14.1 percent. In terms of amount, the asset base of IBI enlarged by Rs836bn and was recorded at Rs6781bn.<\/p>\n\n\n\n

According to the bulletin, this is the largest-ever increase in the size of IBI’s assets in one quarter.<\/p>\n\n\n\n

The growth in assets was primarily due to investments (net), which grew by Rs470bn (21.4%). Additionally, IBI’s financing (net) increased by Rs269bn (10%) during the period under review. Investments (net) and financing (net) accounted for 44 and 39 percent of IBI’s total assets, respectively.<\/p>\n\n\n\n

At the end of June, IBI’s assets represented 19.5% of total banking assets.<\/p>\n\n\n\n

Investments (net) of IBI grew by Rs470bn (21.4%) during the review period and reached Rs2672bn. A major reason for this increase was the deployment of funds by IBI in Pakistan’s domestic Ijarah Sukuk (GIS).<\/p>\n","protected":false},"excerpt":{"rendered":"

Web Desk — In April-June of this calendar year, Islamic Banking Industry assets reached an all-time high of Rs6,781 billion, an increase of Rs836 billion. On Monday, the SBP issued the latest Islamic Banking Bulletin, which noted that net investments and financing grew by Rs470bn and Rs269bn, respectively, during the quarter. As for funding, IBI’s …<\/p>\n","protected":false},"author":1,"featured_media":3302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3301","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business"],"yoast_head":"\nIslamic Banks' Assets Jump To All Time High<\/title>\n<meta name=\"description\" content=\"In April-June of this calendar year, Islamic Banking Industry assets reached an all-time high of Rs6,781 billion, an increase of Rs836 billion.\" \/>\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.newsmakers.com.pk\/en\/business\/islamic-banks-assets-jump-to-all-time-high\/3301\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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