Banking sector spread decreases by 7bps MoM in February

MG News | March 25, 2024 at 09:34 AM GMT+05:00
December 26, 2023 (MLN): The banking sector spread for February 2024 has decreased by 7 basis points (bps) MoM to 6.95% as compared to a spread of 7.02% in January 2024, 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 11bps YoY as compared to a spread of 6.84% in February 2023.
The lending rate for all banks went down by 13bps MoM, while up by 3.41% YoY to stand at 18.91% in February 2024.
Moreover, the deposit rate declined to 11.95%, 7bps lower than the previous month and 3.3% higher than the previous year.
In addition, fresh lending rates stood at 20.53% during the month under review, down by 51bps MoM and up by 2.58% YoY,
Meanwhile, fresh deposit rates decreased by 68bps MoM to 9.94%.
While compared to February 2023, fresh deposit rates have increased by 8bps YoY.
As a result, the banking sector spread on fresh deposits rose 17bps MoM to 10.6% in February.
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 154,277.19 471.37M | 1.06% 1611.47 |
ALLSHR | 94,348.18 1,076.75M | 0.89% 835.46 |
KSE30 | 47,063.22 194.28M | 1.21% 563.54 |
KMI30 | 223,849.80 250.88M | 1.57% 3467.85 |
KMIALLSHR | 63,265.69 539.59M | 0.90% 566.38 |
BKTi | 42,116.21 179.13M | 1.12% 468.14 |
OGTi | 31,247.50 31.17M | 1.21% 373.42 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 112,060.00 | 113,810.00 110,480.00 | 1815.00 1.65% |
BRENT CRUDE | 65.67 | 67.05 65.07 | -1.32 -1.97% |
RICHARDS BAY COAL MONTHLY | 87.75 | 0.00 0.00 | -0.75 -0.85% |
ROTTERDAM COAL MONTHLY | 94.80 | 95.40 94.80 | -0.70 -0.73% |
USD RBD PALM OLEIN | 1,106.50 | 1,106.50 1,106.50 | 0.00 0.00% |
CRUDE OIL - WTI | 61.97 | 63.49 61.45 | -1.51 -2.38% |
SUGAR #11 WORLD | 15.58 | 15.74 15.51 | -0.11 -0.70% |
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 |
---|