Pakistan witnessed a 41% increase in car Financing during FY2021, where Rs. 279 billion worth of Car Loans were disbursed as compared to Rs. 211bn in the previous fiscal year.
According to SBP, in the financial year from July’2020 to May 2021, the volume of loan financing increased to Rs. 279.5 billion, while the disbursed loans at end of the 2019-20 financial year amounted to Rs. 211.11 billion.
Thus, compared to fiscal 2020, the supply of bank loans for the purchase of vehicles in the first 11 months of the fiscal year 2021 increased by Rs. 86.5 billion, or 41%.
According to statistics, loans from Islamic banks for the purchase of cars increased significantly, while loans from the Islamic banking sector increased to 60% of total loans.
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