Banking sector spread decreases by 64bps MoM in July
MG News | August 23, 2023 at 07:06 PM GMT+05:00
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 | 165,823.88 448.99M | -1.54% -2588.35 |
| ALLSHR | 99,160.90 1,085.27M | -1.67% -1680.26 |
| KSE30 | 50,101.96 142.26M | -1.74% -888.53 |
| KMI30 | 238,681.37 216.35M | -1.30% -3152.79 |
| KMIALLSHR | 64,435.58 615.36M | -1.35% -884.80 |
| BKTi | 46,165.92 56.22M | -2.48% -1174.89 |
| OGTi | 34,125.34 9.28M | -2.33% -814.62 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 75,745.00 | 78,325.00 75,130.00 | -915.00 -1.19% |
| BRENT CRUDE | 119.75 | 120.27 110.26 | 8.49 7.63% |
| RICHARDS BAY COAL MONTHLY | 113.00 | 113.00 109.00 | 4.25 3.91% |
| ROTTERDAM COAL MONTHLY | 110.50 | 110.50 105.00 | 5.85 5.59% |
| USD RBD PALM OLEIN | 1,191.50 | 1,191.50 1,191.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 107.80 | 108.49 98.42 | 7.87 7.88% |
| SUGAR #11 WORLD | 14.75 | 14.80 14.25 | 0.52 3.65% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|
Monetary Aggregates (M3) - Monthly Profile