Bank deposit rate falls by 22bps in Dec

By MG News | January 22, 2025 at 05:01 PM GMT+05:00

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January 22, 2025 (MLN): The return on bank deposits has decreased by 22 basis points to 7.28% in December 2024 compared to the deposit rate of 7.50% last month, according to the latest official data.

On a yearly basis, the weighted average rate paid for deposits by the banking sector has decreased by 359bps compared to the return of 10.87% last year.

Meanwhile, the lending rate for all scheduled banks stood at 13.83%, down 99bps compared to November. While it fell 716bps compared to the same month of last year.

Accordingly, the banking sector spread decreased by 77bps to 656bps in December 2024 compared to a spread of 732bps last month.

However, the real deposit rate, after adjusting for inflation, stood at -5.36%, an increase of 181bps compared to last month.

The real lending rate stood at 0.19%, an increase of 4bps compared to last month. While it increased 995bps compared to the same month of last year.

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