May 20, 2022 (MLN): The banking sector spread for the month of April 2022 increased by 35 basis points (bps) over the month which brings its latest value to 5.02% as compared to the prior month's spread of 4.67%, State Bank of Pakistan's monthly data released on weighted average lending & deposit rates showed today.
Similarly, compared to the same month last year, the spread has increased by 52bps as it stood at 4.5% in April 2021.
As per data, the lending rate for all banks jumped by 65bps MoM and 226bps YoY to stand at 10.26%. Meanwhile, the deposit rate clocked in at 5.24%, increased by 3bps over the month while improved by 171bps over the year in April 2022.
In addition, fresh lending rates stood at 11.87% during the month under review, up by 128bps MoM, while on yearly basis, it rose by 384bps. Fresh deposit rates increased by 68bps MoM and 250bps YoY to 5.78%.
Thus, fresh banking spread during April 2022 stood at 6.09%, depicting a growth of 6bps MoM and 139bps YoY.
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