Banking sector spread increases by 26bps MoM in September

MG News | October 23, 2023 at 03:24 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

October 23, 2023 (MLN): The banking sector spread for the month of September 2023 has increased by 26 basis points (bps) MoM to 7.88% as compared to a spread of 7.63% in August 2023, 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 increased by 1.84% YoY as compared to a spread of 6.05% in September 2022.

The lending rate for all banks jumped by 35bps MoM and 5.62% YoY to stand at 19.29% in September 2023.

Moreover, the deposit rate inched up to 11.41%, 9bps higher than the previous month and 3.78% higher than the previous year.

In addition, fresh lending rates stood at 20.25% during the month under review, down by 91bps MoM and up by 4.92% YoY, while fresh deposit rates increased by 38bps MoM and 1.92% YoY to 11.25%.

As a result, the banking sector spread on fresh deposits decreased by 1.29% MoM to 9% in August.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	60,565.00	60,895.00 59,790.00	570.00 0.95%
BRENT CRUDE	73.08	75.13 71.38	-2.18 -2.90%
RICHARDS BAY COAL MONTHLY	103.50	0.00 0.00	0.25 0.24%
ROTTERDAM COAL MONTHLY	113.35	114.25 113.00	-0.05 -0.04%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	70.24	71.86 68.56	-1.68 -2.34%
SUGAR #11 WORLD	14.55	14.68 14.02	0.45 3.19%