
Banking Sector Profit Growth Slows to 1.1% in H1 2024 Amid Declining Interest Rates – SBP Report
The profitability of Pakistan’s banking sector decelerated significantly in the first half of 2024, with after-tax profit growing by just 1.1% to Rs. 287 billion, according to the State Bank of Pakistan’s (SBP) Mid-Year Performance Review of the Banking Sector. This slowdown was driven by reduced growth in advances and declining returns on earning assets…