Banking sector spread inches down by 1bps MoM in December

MG News | January 24, 2024 at 04:48 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

January 24, 2024 (MLN): The banking sector spread for the month of December 2023 has decreased by 1 basis points (bps) MoM to 7.62% as compared to a spread of 7.63% in November 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 1.35% YoY as compared to a spread of 6.27% in December 2022.

The lending rate for all banks went up by 7bps MoM, while up by 4.63% YoY to stand at 19.34% in December 2023.

Moreover, the deposit rate jumped to 11.72%, 8bps higher than the previous month and 3.29% higher than the previous year.

In addition, fresh lending rates stood at 21.1% during the month under review, down by 11bps MoM and up by 4.56% YoY,

Meanwhile, fresh deposit rates increased by 11bps MoM to 10.88%.

While compared to December 2022, fresh deposit rates have increased by 2.92% YoY.

As a result, the banking sector spread on fresh deposits fell 22bps MoM to 10.22% in December.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,166.52 410.56M	0.33% 574.76
ALLSHR	107,641.65 676.88M	0.48% 519.21
KSE30	52,670.80 88.28M	0.39% 203.40
KMI30	251,460.53 103.06M	0.76% 1891.30
KMIALLSHR	69,413.38 509.62M	0.79% 544.65
BKTi	49,984.79 26.85M	-0.30% -151.57
OGTi	36,423.05 16.04M	1.47% 527.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	77,540.00	78,915.00 76,745.00	360.00 0.47%
BRENT CRUDE	93.60	94.83 92.74	-0.18 -0.19%
RICHARDS BAY COAL MONTHLY	110.30	110.50 110.30	0.05 0.05%
ROTTERDAM COAL MONTHLY	125.25	125.25 125.25	1.50 1.21%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	86.64	87.51 85.80	-0.19 -0.22%
SUGAR #11 WORLD	17.60	17.89 17.16	0.08 0.46%