Banking sector spread decreases by 7bps MoM in February

MG News | March 25, 2024 at 09:34 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

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	177,823.17 211.57M	1.45% 2537.38
ALLSHR	107,877.59 456.01M	1.26% 1340.77
KSE30	53,077.31 73.50M	1.45% 756.33
KMI30	250,185.08 65.03M	1.38% 3409.45
KMIALLSHR	69,229.04 281.08M	1.25% 856.39
BKTi	50,557.40 23.25M	1.69% 839.16
OGTi	35,436.44 4.08M	0.88% 310.17

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,275.00	65,105.00 64,175.00	-810.00 -1.24%
BRENT CRUDE	84.53	85.55 84.30	-0.42 -0.49%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.25 -1.17%
ROTTERDAM COAL MONTHLY	120.00	0.00 0.00	0.45 0.38%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	79.53	80.59 79.14	-0.07 -0.09%
SUGAR #11 WORLD	14.73	14.86 14.72	-0.12 -0.81%