KARACHI (APP) - Banks credit has recorded a decline of 3.8 percent to Rs 2.85 trillion since May 2008 to July 2008 when State Bank of Pakistan asked banks to ensure a minimum 5 percent return on PLS saving deposits, analysts said here Wednesday. Quoting SBP's data for seven months till July 2008, an analyst at First National Equity said that credit off take was going up and reached Rs 2.96 trillion when Central Bank issued instruction on banking spread. He said that off-take during seven month of 2008 (January-July) grew by 7.6 % to Rs 2.85 trillion over same period last year. He was of the view that banks have to increase their credit off take and to keep their non-performing loans in control as well to maintain or increase their core income. Banks have witnessed a 56 basis points (bps) decline in the banking spreads in the month of June 2008. He said that 97 basis points were increased on deposit rates which went up to 5.18 percent while 46 basis points were raised on weighted lending rates which stood at 11.9 percent Bank's financial results of half year are forthcoming, and as expected, the results announced so far have not shown any growth in their profitability. The current growth in the advances and deposits of the banking sector is not enough to maintain the profitability as we have witnessed in the preceding years. Deposit base Deposit base of the banking sector during seven month have shown 6.1 % growth, reaching at Rs 3.78 trillion at the end of July 2008 as compared to Rs 3.56 trillion in December 2007. Investment portfolio Total investments of the banking sector has declined by 11.9 % in seven months to Rs 1.07 trillion in July 2008 over Rs 1.21 trillion in December 2007