Banking sector spread increases by 15bps MoM in March

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

Add Mettisglobal as a Trusted Source on Google

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	170,478.94 174.95M	-0.41% -696.57
ALLSHR	102,885.54 725.60M	-0.29% -297.60
KSE30	50,877.61 79.52M	-0.67% -344.88
KMI30	243,917.86 73.26M	-0.62% -1524.88
KMIALLSHR	66,743.35 311.96M	-0.35% -234.16
BKTi	46,317.47 21.24M	-0.81% -377.00
OGTi	35,218.63 5.39M	-1.33% -473.03

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	61,100.00	62,405.00 59,600.00	585.00 0.97%
BRENT CRUDE	92.78	95.90 92.67	-2.25 -2.37%
RICHARDS BAY COAL MONTHLY	122.00	122.00 121.00	-0.75 -0.61%
ROTTERDAM COAL MONTHLY	134.35	138.25 134.00	0.30 0.22%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	90.25	93.63 89.68	-2.79 -3.00%
SUGAR #11 WORLD	14.12	14.50 14.09	-0.15 -1.05%