Banking sector spread increases by 18 bps MoM in January

MG News | February 21, 2022 at 12:27 PM GMT+05:00

0:00

February 21, 2022 (MLN): The banking sector spread for the month of January 2022 increased by 18 basis points (bps) over the month which brings its latest value to 4.26% as compared to the prior month's spread of 4.08%, State Bank of Pakistan's monthly data released on weighted average lending & deposit rates showed today.

However, compared to the same month last year, the spread has reduced by 11bps as it stood at 4.37% in January 2021.

As per data, the lending rate for all banks jumped by 65bps MoM and 139bps YoY to stand at 9.34%. Meanwhile, the deposit rate clocked in at 5.08%, improved by 47bps over the month and 150bps over the year in January 2022.

In addition, fresh lending rates stood at 10.78% during the month under review, up by 111bps MoM and 294bps YoY, while fresh deposit rates increased by 55bps MoM and 328bps to 6.34%.

Thus, fresh banking spread during January 2022 stood at 4.44%, depicting a growth of 56bps MoM. While compared to the same month last year, it declined by 34bps.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,404.49 326.40M	-0.32% -556.16
ALLSHR	103,442.24 795.99M	-0.21% -217.04
KSE30	52,413.79 113.03M	-0.27% -143.72
KMI30	244,645.84 109.10M	-0.15% -378.05
KMIALLSHR	67,050.27 450.39M	-0.02% -14.08
BKTi	47,413.54 37.21M	-0.37% -176.81
OGTi	33,419.75 8.88M	-0.20% -67.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,895.00	89,510.00 85,135.00	3075.00 3.63%
BRENT CRUDE	60.55	60.65 59.40	0.73 1.22%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	96.90 96.90	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.54	56.72 55.61	0.54 0.96%
SUGAR #11 WORLD	14.85	14.87 14.45	0.37 2.56%