State Bank of Pakistan Governor Jameel Ahmad has urged banks to rethink their business models and focus more on attracting deposits and financing the private sector.
Speaking at the 11th Pakistan Banking Awards 2026, Ahmad said banks have an important role to play in supporting sustainable economic growth.
Banking sector reaches Rs69 trillion
The SBP governor said banking-sector assets had reached Rs69 trillion by the end of fiscal year 2026.
Bank deposits stood at around Rs43 trillion in June 2026.
Despite this growth, Ahmad said Pakistan’s banking assets and deposits remain relatively low as a share of GDP compared with other emerging economies.
Banks need to compete for customers
Ahmad called on banks to compete more actively and improve the services they offer.
He said customers should receive better-quality services and attractive returns, giving them stronger reasons to keep their money within the banking system.
The governor also stressed the need for greater private-sector financing.
Economy remains resilient
Ahmad said Pakistan’s economy has remained resilient despite facing both domestic and external challenges.
He argued that a stronger banking sector could help build on that resilience by increasing financial intermediation and directing more funds toward businesses and productive economic activity.
The message to banks was clear: attract more deposits, lend more to the private sector and compete harder for customers.
