Banking sector spread falls 379bps in Oct

News Image

By MG News | November 22, 2024 at 12:48 PM GMT+05:00

0:00

November 22, 2024 (MLN): The banking sector spread decreased by 379 basis points to 5.01 percentage points in October compared to a spread of 8.80 percentage points last month as the lending rate fell while the deposit rate rose.

The return on bank deposits increased by 74bps to 10.27% in October 2024 compared to the deposit rate of 9.54% last month, according to the latest official data.

On a yearly basis, the weighted average rate paid for fresh deposits by the banking sector decreased by 54bps compared to the return of 10.82% last year.

Meanwhile, the lending rate for all scheduled banks stood at 15.28%, down 305bps compared to September. While it fell 459bps compared to the same month of last year.

However, the real deposit rate, after adjusting for inflation, stood at -6.39%, an increase of 238bps compared to last month. While it rose 1,278bps compared to the same month of last year.

Despite the increase, depositors are still losing money after adjusting for one of Asia's highest inflation.

The real lending rate stood at -1.39%, a decline of 141bps compared to last month. While it increased 874bps compared to the same month of last year.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 106,245.00 108,105.00
105,930.00
-1990.00
-1.84%
BRENT CRUDE 67.19 67.50
66.34
0.45
0.67%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.64 65.98
64.67
0.53
0.81%
SUGAR #11 WORLD 15.70 16.21
15.55
-0.50
-3.09%

Chart of the Day


Latest News
July 01, 2025 at 10:04 PM GMT+05:00

Pakistan’s trade deficit improves by over 9% in June


July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola


July 01, 2025 at 04:53 PM GMT+05:00

PSX proposes key regulatory amendments


July 01, 2025 at 04:30 PM GMT+05:00

Cement dispatches likely to drop 28% MoM in June 2025


July 01, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Breaking Records, Breaking Ground



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg