Banking sector spread increases by 3.32% YoY in June
MG News | July 24, 2023 at 08:35 PM GMT+05:00
July 24, 2023 (MLN): The banking sector spread for the month of June 2023 has increased by 3.32% YoY and 16 basis points (bps) MoM to 7.73% as compared to a spread of 4.41% in June 2022 and 7.57% in May 2023, respectively, the State Bank of Pakistan's monthly data released on weighted average lending & deposit rates showed.
The lending rate for all banks jumped by 47bps MoM and 6.84% YoY to stand at 18.21% in June 2023.
Meanwhile, the deposit rate clocked in at 10.48%, improved by 31bps over the month while falling by 3.52% over the year in June 2022.
To note, weighted average banking spreads marked the highest quarter since 2004, jumping from a low of 4.14% in 4QCY21.
In addition, fresh lending rates stood at 20.45% during the month under review, up by 17bps MoM and 6.82% YoY, while fresh deposit rates decreased by 69bps MoM and increased by 1.65% to 10.44%.
Similarly, fresh spreads in 2QCY23 stood at 9.73%, as compared to a low of 2.86% in 3QCY15.
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 175,802.79 267.06M | -1.30% -2320.78 |
| ALLSHR | 106,568.29 617.78M | -1.25% -1352.24 |
| KSE30 | 52,497.68 83.82M | -1.25% -665.92 |
| KMI30 | 247,323.37 106.69M | -1.37% -3422.76 |
| KMIALLSHR | 68,315.26 363.70M | -1.37% -952.13 |
| BKTi | 49,936.11 23.35M | -1.18% -594.28 |
| OGTi | 34,758.02 9.23M | -1.71% -605.59 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 63,230.00 | 64,350.00 62,570.00 | -1155.00 -1.79% |
| BRENT CRUDE | 86.68 | 87.12 83.71 | 2.45 2.91% |
| RICHARDS BAY COAL MONTHLY | 105.75 | 0.00 0.00 | -0.15 -0.14% |
| ROTTERDAM COAL MONTHLY | 119.80 | 120.30 119.80 | 0.00 0.00% |
| USD RBD PALM OLEIN | 1,135.00 | 1,135.00 1,135.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 80.64 | 81.25 77.93 | 2.36 3.01% |
| SUGAR #11 WORLD | 14.85 | 14.90 14.39 | 0.41 2.84% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|
Summary of Foreign Investments in Pakistan