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	178,922.76 458.03M	-1.36% -2475.46
ALLSHR	107,850.27 1,038.22M	-1.24% -1356.82
KSE30	53,308.95 263.66M	-1.46% -789.54
KMI30	255,193.17 241.09M	-1.46% -3789.62
KMIALLSHR	69,955.81 579.69M	-1.31% -930.18
BKTi	48,839.93 52.13M	-1.20% -593.67
OGTi	36,450.04 22.36M	-1.87% -693.83

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	63,895.00	64,250.00 62,315.00	950.00 1.51%
BRENT CRUDE	80.38	80.81 78.77	0.53 0.66%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	-0.25 -0.22%
ROTTERDAM COAL MONTHLY	125.50	0.00 0.00	1.20 0.97%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	76.54	76.78 74.98	0.69 0.91%
SUGAR #11 WORLD	14.14	14.50 14.10	-0.23 -1.60%