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	184,129.58 798.69M	-1.97% -3702.50
ALLSHR	110,763.73 1,266.28M	-1.85% -2087.96
KSE30	56,278.51 173.32M	-2.19% -1261.46
KMI30	259,907.89 102.57M	-2.03% -5380.16
KMIALLSHR	71,198.64 822.49M	-1.72% -1247.03
BKTi	53,693.69 102.25M	-2.59% -1425.61
OGTi	37,589.24 28.20M	-2.72% -1052.27

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	70,580.00	71,690.00 60,005.00	6785.00 10.64%
BRENT CRUDE	68.10	68.83 66.56	0.55 0.81%
RICHARDS BAY COAL MONTHLY	96.00	96.00 96.00	1.50 1.59%
ROTTERDAM COAL MONTHLY	102.75	103.25 101.30	2.25 2.24%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	63.50	64.58 62.20	0.21 0.33%
SUGAR #11 WORLD	14.14	14.30 14.07	-0.13 -0.91%