Banking sector spread decreases by 64bps MoM in July

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

Add Mettisglobal as a Trusted Source on Google

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	162,374.88 110.96M	-0.95% -1549.44
ALLSHR	98,620.11 386.58M	-0.91% -906.77
KSE30	47,823.16 51.47M	-1.02% -490.65
KMI30	232,733.99 57.93M	-1.23% -2903.19
KMIALLSHR	63,955.68 197.75M	-1.12% -727.41
BKTi	44,724.17 14.61M	-1.01% -457.04
OGTi	33,033.72 5.00M	-1.08% -361.88

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	80,785.00	81,450.00 80,440.00	-420.00 -0.52%
BRENT CRUDE	117.38	117.45 112.74	4.21 3.72%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	-1.10 -0.85%
ROTTERDAM COAL MONTHLY	147.10	0.00 0.00	1.10 0.75%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	103.44	103.92 98.84	3.97 3.99%
SUGAR #11 WORLD	20.26	20.51 20.02	0.13 0.65%