Banking sector spread inches down by 1bps MoM in December

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

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	166,242.90 704.43M	1.49% 2436.69
ALLSHR	101,132.82 1,476.65M	1.29% 1287.02
KSE30	50,886.61 318.61M	1.52% 762.76
KMI30	241,116.65 128.48M	1.08% 2586.15
KMIALLSHR	66,519.44 717.61M	0.94% 621.34
BKTi	47,711.07 207.32M	2.87% 1330.11
OGTi	32,418.62 12.56M	1.76% 561.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	111,160.00	111,945.00 107,690.00	4485.00 4.20%
BRENT CRUDE	60.99	61.55 60.07	-0.30 -0.49%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.50 -1.83%
ROTTERDAM COAL MONTHLY	92.75	92.75 92.75	-0.25 -0.27%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	57.00	57.43 55.96	-0.15 -0.26%
SUGAR #11 WORLD	15.77	15.78 15.51	0.27 1.74%