Banking sector spread decreases by 9bps MoM in November

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

Add Mettisglobal as a Trusted Source on Google

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	170,511.86 278.75M	0.98% 1646.82
ALLSHR	103,203.80 682.99M	0.89% 908.76
KSE30	50,839.23 100.13M	1.18% 592.12
KMI30	243,245.60 147.66M	1.61% 3852.07
KMIALLSHR	66,892.15 407.33M	1.15% 757.54
BKTi	47,509.55 28.38M	0.77% 361.93
OGTi	34,789.19 8.38M	1.60% 547.02

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	77,340.00	77,640.00 77,215.00	-90.00 -0.12%
BRENT CRUDE	104.32	109.97 103.50	-3.31 -3.08%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	1.70 1.33%
ROTTERDAM COAL MONTHLY	140.00	0.00 0.00	-0.75 -0.53%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	99.99	104.46 98.48	-2.49 -2.43%
SUGAR #11 WORLD	18.15	18.84 17.93	-0.58 -3.10%