State Bank Report Reveals 70% of Pakistanis Have Less Than Rs50,000 in Bank Accounts
Digital Banking Surges as Wealth Gap Widens in Pakistan’s Financial Landscape
70% of Bank Accounts in Pakistan Hold Under Rs50,000
According to the latest report by the State Bank of Pakistan, over 70% of bank accounts in the country maintain deposits of less than Rs50,000, highlighting persistent challenges in financial inclusion and a significant concentration of wealth. On the other end of the spectrum, only 3% of bank accounts hold balances exceeding Rs1 million, underlining a sharp disparity in wealth distribution within the formal financial system.
Also read: Alibaba.com Launches $1 Million Global “CoCreate Pitch” Open to Pakistani SMEs and Entrepreneurs
Digital Banking Rapidly Expanding Nationwide
While traditional savings trends remain modest, digital banking adoption continues to surge across Pakistan. The State Bank report notes that mobile applications accounted for 89% of retail transactions by volume, reflecting the growing public preference for convenient, app-based financial services. Pakistan’s instant payment system recorded 371 million transactions worth Rs8.5 trillion during Q3 FY25, signaling increased reliance on cashless transactions.
Large-Value Transfers and Shifting Financial Behavior
Further strengthening the country’s financial infrastructure, Pakistan’s Real-Time Gross Settlement System (RTGS) processed an impressive Rs347 trillion in high-value transactions during the same period. The data paints a clear picture: while overall deposit growth remains limited for most Pakistanis, digital financial behavior is transforming rapidly, reshaping how individuals and businesses manage money in an evolving economic landscape.
