Moody’s suggests steady growth in bank profits in Pakistan

Moody’s suggests steady growth in bank profits in Pakistan

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Moody’s Investors Service has predicted that banks in Pakistan will attain steady growth in profits in the next 12 to 18 months.

The growth in bank profits will come from their swelling lending to the government at the usual high interest rates as the standard interest rate stands at an eight-year high at 13.25% since July 2019.

“The sovereign credit profile has improved in recent months, benefiting the banks through their high exposure to government securities, which account for around 40% of their assets,” Moody’s Senior Vice President Constantinos Kypreos said in a statement on Thursday.

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