Pakistan, Aug. 22 -- Governor State Bank of Pakistan (SBP) has urged banks to reorient their business models towards stronger retail deposit mobilization and greater private-sector financing, emphasizing that the banking sector has a critical role to play in supporting Pakistan's next phase of sustainable economic growth.

Addressing the 11th Pakistan Banking Awards 2026 in Karachi, the Governor said Pakistan's economy had demonstrated resilience despite a challenging FY26 marked by domestic and external shocks, including severe floods, geopolitical tensions and an uncertain global trade environment. He noted that inflation averaged close to the medium-term target range, inflation expectations remained broadly anchored, and the current ac...