The State Bank of Pakistan has recently revealed shocking insights in a report concerning the country’s banking sector, highlighting low balances in the majority of commercial bank accounts. Based on the report, more than 51% of bank accounts contain less than Rs. 5,000, indicating a major challenge for the nation’s financial landscape.

The statistics also show that 20% of accounts hold between Rs 5,000 and Rs 50,000, while 26% of accounts have between Rs 50,000 to Rs 1 million. On the other hand, a mere 3% of commercial bank accounts alone have a balance of more than Rs 1 million, highlighting a stark concentration in a small number of accounts.

Economic experts have described the situation as a challenge for both the State Bank and financial institutions, indicating the need to develop strategies that can promote greater financial inclusion and induce more savings from the populace. The report presents a grim scenario of Pakistan’s banking sector with regard to economic inequalities and the requirement of policies to reinforce financial stability.