A recent report from the State Bank of Pakistan (SBP) highlights a stark imbalance in the country’s banking sector. Just 3% of bank accounts in Pakistan have a balance exceeding Rs. 1 million, revealing a concentrated distribution of financial wealth.
Majority of Accounts Hold Less Than Rs. 50,000
The SBP’s Quarterly Payment Systems Review for Q3 of FY25 shows that over 70% of all commercial bank accounts hold less than Rs. 50,000. Meanwhile, 26% of accounts have balances ranging between Rs. 50,000 and Rs. 1 million. This leaves only 3% of accounts in the high-balance category, those with deposits above Rs. 1 million.
This data underscores the limited financial capacity of most account holders and reflects a broader trend of economic inequality in the country’s formal banking system.
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Digital Transactions on the Rise
While the distribution of funds remains uneven, digital banking continues to gain ground. The SBP reported that digital channels now process 89% of all retail transactions by volume. Mobile banking apps have played a key role in this shift, making transactions more accessible to the public.
Retail payment transactions grew by 12% during the reviewed quarter, reaching 2.408 billion. These transactions had a combined value of Rs. 164 trillion, signaling strong momentum in Pakistan’s cashless economy.
Raast and RTGS Systems Scale Up
Pakistan’s instant payment system, Raast, processed 371 million transactions worth Rs. 8.5 trillion in just one quarter. Since its launch, Raast has facilitated 1.5 billion transactions totaling more than Rs. 34 trillion.
In the high-value segment, the Real-Time Gross Settlement (RTGS) system processed 1.5 million transactions valued at Rs. 347 trillion, highlighting continued demand for secure large-scale transfers.
The SBP’s review not only provides insight into account ownership trends but also signals the growing footprint of digital financial services in the country’s evolving economy.
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