Banking sector spread increases by 15bps MoM in March

By MG News | April 22, 2024 at 03:29 PM GMT+05:00

0:00

April 22, 2024 (MLN): The banking sector spread for March 2024 has increased by 15 basis points (bps) MoM to 7.1% as compared to a spread of 6.95% in February 2024, 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 decreased by 44bps YoY as compared to a spread of 7.54% in March 2023.

The lending rate for all banks went up by 3bps MoM and 268bps YoY to stand at 18.94% in March 2024.

Meanwhile, the deposit rate declined to 11.84%, 12bps lower than the previous month while 312bps higher than the previous year.

In addition, fresh lending rates stood at 20.85% during the month under review, up by 32bps MoM and 278bps YoY,

Meanwhile, fresh deposit rates increased by 48bps MoM to 10.41%.

While compared to March 2023, fresh deposit rates have increased by 227bps YoY.

As a result, the banking sector spread on fresh deposits fell 16bps MoM to 10.44% in March.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	133,619.49 122.79M	1.27% 1670.42
ALLSHR	82,995.88 321.32M	1.13% 926.62
KSE30	40,833.14 34.32M	1.10% 445.38
KMI30	192,071.47 35.83M	0.36% 694.65
KMIALLSHR	55,579.52 156.30M	0.70% 385.54
BKTi	36,849.64 20.40M	2.85% 1021.40
OGTi	28,450.83 1.14M	0.02% 4.49

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,640.00	110,525.00 107,865.00	-775.00 -0.70%
BRENT CRUDE	68.03	68.10 67.22	-0.27 -0.40%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.27	67.18 65.40	-0.73 -1.09%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%