E-banking transactions total Rs7.6trn

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Economic Updates - Pak Major Financial News

The value and volume of overall e-banking transactions increased by 18.02 percent and 11.31 percent to Rs7.6 trillion and 79.45 million respectively during the second quarter of the current fiscal year (FY13), reported the State Bank of Pakistanís Payment Systems Review released on Wednesday.

The review further said that 94 percent of bankís branches (9,896 out of total 10,523) are now offering real-time online branches (RTOB) services; 484 more branches were added to the RTOB network in the three months.

The value and volume of RTOB transactions also scaled up by 18.82 percent and 14.29 percent respectively during the second quarter as compared to the previous quarter of the current fiscal year, the review added.

The payment systems infrastructure in the country maintained an increasing growth trend in the said period during which 245 more automated teller machines (ATMs) were installed by banks bringing the total number of ATMs in the country to 6,232, transactions from which account for 61.12 percent share in total e-banking volume with an average value of Rs9,779 per transaction, stated the report.

The overall value and volume of ATM transactions surged by 10.33 percent and 10.68 percent respectively in the second quarter over the first quarter. By the end of December 2012, over 20.72 million plastic cards were issued.

The State bank recorded growth of 6.25 and 5.06 percent in value and volume of transactions through point of sale terminals to Rs22.1 billion and 4.5 million respectively in Oct-December.

The recorded value and volume of large-value payments through real time gross settlement were Rs42.13 trillion and 1,21,663 respectively, up 9.46 percent and 10.35 percent.

The major portion for the increased number of overall Pakistan real time inter-bank settlement mechanism (PRISM) transactions was contributed by Interbank Funds Transfer, which increased by 14.06 percent as compared to the last quarter. Similarly, the largest contribution in the value of overall PRISM transactions in the second quarter was due to securities settlement, which rose by 14.96 percent, according to the review.

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