06.03.2009

Pakistan’s banking sector, the State Bank of Pakistan states, isremarkably resilient despite the current challenging economic environment asover the years it has nurtured itself to the extent that it is able to withstandsome of the shocks it has faced in the last 18 months or so due to thestringent provisioning requirements against classified assets imposed by the SBPas well as the banking sector’s strong capital base accompanied by adequatereserves.

Also the SBP points out that the financial sector has room to growsubstantially in a number of areas and will continue to see the net of financialservices be extended in the years to come.

For the full press release from the Pakistan Central Bank, please go to: http://www.sbp.org.pk/