The State Bank of Pakistan reported a large 25.6% decrease in the issue of bank loans for automobile purchases on an annual basis in December 2023.
According to data issued by the central bank, banks disbursed Rs 251 billion in loans for vehicle purchases in December 2023, a significant fall from Rs 337 billion in December 2022.
However, despite the annual fall, banks issued 2.3% more vehicle purchase loans in December than in November.
In November, banks issued loans around Rs 257 billion for vehicle purchases, which fell slightly to Rs 251 billion in December.
The decline in loan disbursements for automobile purchases represents probable adjustments in consumer behavior, economic conditions, and lending practices within the banking sector.
As the country navigates economic fluctuations and evolving market dynamics, monitoring lending trends provides valuable insights into the overall financial landscape and consumer sentimen
