Banking sector spread increases by 18 bps MoM in January

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

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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.

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