Pakistan Banking & Financial Services Q1 2020
Pakistan's banking and financial services sectors are poised for significant growth in the medium-to-long term; however,this will be from a low base. Credit growth is expected to slow down, while the level of domestic savings, which is key to thedevelopment and growth of capital markets, remains low, as foreign investors will remain cautious on the market, with furtherescalation of macroeconomic and political headwinds. Even though the domestic insurance market is poised for rapid growth,structural challenges will continue to hamper the market from reaching its full potential. Savings rates are low and this weakens thedemand for non-life and life products. The stock market's contribution to the economy is very low, and this is evident from its lowmarket capitalisation and small number of new listings every year.
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