Banking sector spread decreases by 9bps MoM in November

MG News | December 26, 2023 at 10:22 AM GMT+05:00

0:00

December 26, 2023 (MLN): The banking sector spread for the month of November 2023 has decreased by 9 basis points (bps) MoM to 7.63% as compared to a spread of 7.72% in October 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 1.3% YoY as compared to a spread of 6.33% in November 2022.

The lending rate for all banks went down by 7bps MoM, while up by 5.15% YoY to stand at 19.27% in November 2023.

Moreover, the deposit rate jumped to 11.65%, 3bps higher than the previous month and 3.85% higher than the previous year.

In addition, fresh lending rates stood at 21.21% during the month under review, up significantly by 1.28% MoM and up by 5.29% YoY,

Meanwhile, fresh deposit rates decreased by 7bps MoM to 10.77%.

While compared to November 2022, fresh deposit rates have increased by 3.17% YoY.

As a result, the banking sector spread on fresh deposits rose 1.35% MoM to 10.44% in November.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	167,085.58 225.68M	0.48% 802.03
ALLSHR	101,220.72 685.91M	0.47% 477.65
KSE30	50,772.02 134.57M	0.57% 290.16
KMI30	239,923.35 145.03M	0.77% 1831.31
KMIALLSHR	66,042.80 345.76M	0.65% 425.34
BKTi	45,106.39 29.18M	0.06% 24.91
OGTi	33,583.05 26.44M	1.52% 502.39

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,425.00	92,995.00 88,405.00	-3415.00 -3.68%
BRENT CRUDE	63.85	64.09 63.06	0.59 0.93%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	0.10 0.11%
ROTTERDAM COAL MONTHLY	97.25	97.25 97.25	0.05 0.05%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	60.14	60.50 59.42	0.47 0.79%
SUGAR #11 WORLD	14.82	15.02 14.73	-0.06 -0.40%