Managing corporate governance in Pakistan’s IFIs is critical given the surge in their assets from Rs6.9 billion in CY02 to Rs100 billion by end October, 2006, growing at an average annual rate of above 300 percent.
Growth in assets was well supported by a sharp increase in deposit base; which increased from Rs5.0 billion in CY02 to Rs70.0 billion (annualized growth rate of over 85%) by the end October, 2006. This rapid growth allowed IFIs to increase their share in the overall banking industry to around 2.6 percent.