Banking sector spread decreases by 64bps MoM in July

MG News | August 23, 2023 at 07:06 PM GMT+05:00

0:00

August 23, 2023 (MLN): The banking sector spread for the month of July 2023 has decreased by 64 basis points (bps) MoM to 7.09% as compared to a spread of 7.73% in June 2023, the State Bank of Pakistan's monthly data released on weighted average lending & deposit rates showed.

On a yearly basis, the banking sector spread has increased by 1.51% YoY as compared to a spread of 5.58% in July 2022.

The lending rate for all banks jumped by 20bps MoM and 5.82% YoY to stand at 18.41% in July 2023.

Meanwhile, the deposit rate increased to 11.32%, jumping by 84bps over the month and 4.31% over the year.

In addition, fresh lending rates stood at 21.54% during the month under review, up by 1.09% MoM and 6.45% YoY, while fresh deposit rates increased by 2.32% MoM and 3.92% YoY to 12.75%.

Resultantly, the banking sector spread on fresh deposits decreased by 1.22% MoM to 8.79% in July.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	169,842.71 58.01M	-1.35% -2327.58
ALLSHR	101,959.41 125.89M	-1.47% -1517.23
KSE30	51,994.55 20.46M	-1.26% -664.23
KMI30	237,197.45 17.70M	-1.38% -3313.84
KMIALLSHR	65,082.44 62.39M	-1.37% -905.59
BKTi	50,290.72 8.39M	-1.42% -722.19
OGTi	33,357.70 3.30M	-0.62% -207.77

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	67,270.00	67,665.00 66,880.00	65.00 0.10%
BRENT CRUDE	71.91	72.16 71.59	0.25 0.35%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-3.10 -3.13%
ROTTERDAM COAL MONTHLY	105.50	0.00 0.00	-1.75 -1.63%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	66.65	66.86 66.31	0.25 0.38%
SUGAR #11 WORLD	13.72	13.85 13.62	-0.04 -0.29%