Sunday, April 14, 2024

Rs.200 Billion Crossed for Housing and Construction Bank Financing Portfolio

According to the official reports, the housing and construction bank financing portfolio sector has recently recorded an unmatchable surge as it has reached at a value over Rs.200 billion that is Rs.202 billion in the month of March, 2021 from the previous value of Rs.148 billion from the end of June, 2020, the previous year.

However, a growth of 36% that is about Rs.54 billion in just three quarters of the FY20-21 compared to the stagnant position previously has manifested that housing and construction finance by the banking sector is progressing significantly.

Moreover, the increasing power in the sectors was also building up that result in the form of the recent measures that are by GoP as well as the State Bank of Pakistan (SBP) under the scheme of “Mera Pakistan Mera Ghar Housing Finance Scheme”.

According to the reports, a joint statement of State Bank of Pakistan (SBP) and the Pakistan Banks Association (PBA) has been issued that informed further that till 20th, April, 2021 banks had already received the applications for financing of over Rs.52 billion just by the general public that comes under this scheme that is offered.

Mehjabeen Qasim
Mehjabeen Qasim
Business Journalist at Startup Pakistan

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