Arab Today, arab today pakistan banks’ nonperforming loans rise
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Arab Today, arab today
Arab Today, arab today

Pakistan banks’ non-performing loans rise

Arab Today, arab today

Arab Today, arab today Pakistan banks’ non-performing loans rise

Karachi - Arabstoday

The size of non-performing loans (NPLs) of Pakistani banks increased by Rs5.54 billion ($65.176 million) in the second quarter of the year to stand at Rs594.47 billion, according to officials figures. NPLs at the end of the first quarter were $6.929 billion, it said. However, the figure dropped in terms of net NPLs, as they stood at $2.136 billion at the end of the first quarter in contrast to $2.512 billion at the second quarter that ended on June 30. Similarly, total NPLs also decreased during the second quarter to 5.58 per cent of total loans. Total NPLs were 5.8 per cent at the end of the first quarter. Public-sector banks recovered $28.076 million during the second quarter as opposed to local private banks which recovered $139.294 million. The recovery figures for foreign banks, specialised banks and DFIs were $1.964 million, $29.853 million and $2.706 million, respectively. According to the figures, 11 per cent of the total loans of the public-sector banks fell under the category of NPLs. Similarly, local private banks, foreign banks, specialised banks and development financial institutions (DFI) had NPLs of 3.7 per cent, 1.1 per cent, 15.54 per cent and 11.37 per cent, respectively.The available figures showed that during the second quarter the banking sector recovered NPLs of $202.706 million. The figure stood at $197.176 million during the first quarter, it added.Pakistan’s external debt and liabilities (EDL) rose by $4.2 billion or 7.5 per cent to $60.116 billion by the end of the 2010-11 against $55.901 billion in its previous fiscal year, the State Bank of Pakistan (SBP) said.The public debt includes government debt, from the International Monetary Fund (IMF) and foreign exchange liabilities.Public debt increased to $56.315 billion by June 2011 against $52.107 billion in the previous month of the last year. The provincial figures showed that country’s external debt increased by $711 million in the last quarter of 2010-11.In the total EDL, the loan from the IMF grew to $8.94 billion from the same period figures of $8.07 billion a year ago. From / Gulf Today

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