MCB Bank Limited, Askari Bank Limited, the Pakistani unit of Citigroup Incorporated, Standard Chartered Bank Pakistan Limited and Habib Metropolitan Bank Limited are among other lenders that received similar relief in separate orders, the media outlet added. She said it was not feasible for banks to increase their lending to the private sector amid the current economic slowdown. Some of the banks have already recorded NPLs from the private sector in recent quarters, she said. However, banks' lending to the private sector is expected to increase from next year with the anticipated return of stability to the economy. This adjustment is expected to encourage increased credit to the private sector going forward.

Source: The Express Tribune November 15, 2024 21:49 UTC