Islamabad, Oct 18: Car Financing Sees First Increase in 27 Months Signs of Recovery in Auto Loan Market. According to data released by the State Bank of Pakistan (SBP), car financing rose by Rs. 245 million to Rs. 228 billion by the end of September.
After 27 months, auto finance rose by Rs. 245 million, according to Arif Habib Limited. The primary cause of this was the drop in interest rates. Auto finance has decreased by about 16 percent since September 2023. Despite a cooling influence in the central bank’s key lending rate and some improvement in consumer prices, the sector’s overall development is still stunted.
By September 2024, credit card personal loans had increased by 27.6% year over year to Rs. 132 billion.During the period under review, consumer finance for home construction fell by 3.1% to Rs. 202 billion. In September 2024, the total amount of credit given to end customers (consumer finance) dropped to Rs. 809 billion, a YoY decline of 3.6%.
