Banking sector spread decrease by 33 bps in February
MG News | March 26, 2020 at 06:45 PM GMT+05:00
March 26, 2020 (MLN): The Banking sector spread for February 2020 decreased by 33 basis points (bps) over the month which brings its latest value to 5.37% as compared to prior month's spread of 5.7%. Likewise, the spread has mitigated by 14 bps as compared to the same period last year.
In line with the State Bank of Pakistan's monthly data released on Weighted Average Lending & Deposit Rates, the lending rate for all banks (inclusive of zero markup) decreased by 28 bps as it stood at 12.37%. Meanwhile, the deposit rate increased by 5 bps over month, thus bringing the latest rate to 7%.
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