Housing finance records modest 1.33% growth in FY23 amid economic challenges

Housing and construction finance experienced marginal growth, increasing by 1.33% in the fiscal year ending June 2023, as high-interest rates and a sluggish economy restrained banks from expanding their lending portfolios.

According to the State Bank of Pakistan’s (SBP) Governor’s Annual Report, the outstanding amount of housing and construction finance rose to Rs456.8 billion by the end…