Alfalah Bank Acquired Rs. 1 Trillion Mark Deposits

In July 2021, Bank Alfalah made a mark of Rs 1 billion deposits into Pakistan's 8th largest bank with this balance sheet credit.

His official social media platform statement reads: "Bank Alfalah surpassed Rs. 1 trillion in deposits. We are proud to announce the historic milestone of Bank Alfalah.'

The financial report says that the individual customers' bank deposits in their current accounts amounted up to over Rs 412 billion whilst the customers' saving account money amounted to Rs 265 billion and their deposits over Rs 173 on term. The banks retained their savings accounts of more than Rs. 30 billion, current accounts with Rs. 5.5 billion, and term deposits of about Rs. 8 billion. Deposits in foreign currencies amounted to Rs. 158 billion.

It holds a network of more than 700 branches in over two hundred locations in Pakistan and maintains an asset base of about 1,4 trillion RS.

Rs. 1 Billion Club of Deposits

Bank Alfalah's a Rs. 1 Trillion Club member presently. This mark has been reached by a bank league, including:
  1. Over Rs. 2,8 billion Habib Bank Limited
  2.  National Bank of pakistan 2.4 trillion Rs
  3. United Bank Limited, Rs. 1.8 billion
  4. Over Rs. 1,4 billion MCB Bank
  5. Allied Bank Limited for 1.21 billion Rs.
  6. Over Rs. 1.25 billion Meezan Bank
  7. Over 1,1 billion Rs. Bank Al-Habib
The banking sector recently affected the mark of Rs. 18 trillion. Despite the problems of the pandemic, the deposits of the banking industry saw steady increase in 2019 and 2020.

Instead of investing or spending during a crisis, most clients, both individuals and businessmen, choose to hold their incomes and assets in bank accounts. Conversely, remittances also increased the level of the local banking industries in over one year, in particular with the launch of the Roshan Digital Accounts.

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