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	156,180.94 423.57M	0.51% 796.43
ALLSHR	95,690.82 1,354.89M	0.59% 557.25
KSE30	47,714.39 199.12M	0.52% 247.40
KMI30	229,722.09 134.66M	0.91% 2076.87
KMIALLSHR	64,420.07 581.33M	0.83% 532.01
BKTi	41,969.52 122.61M	0.50% 207.74
OGTi	31,991.76 10.82M	1.18% 372.62

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	116,265.00	116,415.00 114,960.00	690.00 0.60%
BRENT CRUDE	68.45	68.50 67.01	1.01 1.50%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.35	93.50 93.15	0.50 0.54%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	64.52	64.56 62.89	1.22 1.93%
SUGAR #11 WORLD	15.84	16.10 15.82	-0.16 -1.00%