Banking sector spread increases by 53bps MoM in August

MG News | September 27, 2023 at 10:23 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

September 27, 2023 (MLN): The banking sector spread for the month of August 2023 has increased by 53 basis points (bps) MoM to 7.63% as compared to a spread of 7.09% in July 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 1.91% YoY as compared to a spread of 5.71% in August 2022.

The lending rate for all banks jumped by 53bps MoM and 5.76% YoY to stand at 18.94% in August 2023.

Meanwhile, the deposit rate inched down to 11.31%, 1bps less than the previous month and 3.84% higher than the previous year.

In addition, fresh lending rates stood at 21.16% during the month under review, down by 38bps MoM and up by 5.84% YoY, while fresh deposit rates decreased by 1.88% MoM and increased by 1.27% YoY to 10.87%.

As a result, the banking sector spread on fresh deposits increased by 1.5% MoM to 10.29% in August.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	168,155.49 146.93M	-0.29% -481.36
ALLSHR	101,821.25 491.54M	-0.27% -275.83
KSE30	50,151.61 66.23M	-0.22% -111.06
KMI30	240,694.06 56.00M	-0.34% -821.69
KMIALLSHR	65,906.19 236.46M	-0.35% -230.83
BKTi	46,796.32 10.20M	-0.20% -94.16
OGTi	34,362.14 4.89M	0.39% 134.82

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	85,550.00	85,570.00 84,680.00	960.00 1.13%
BRENT CRUDE	102.61	103.04 98.40	0.30 0.29%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	0.50 0.39%
ROTTERDAM COAL MONTHLY	140.00	143.25 140.00	-3.90 -2.71%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	91.26	0.00 0.00	0.15 0.16%
SUGAR #11 WORLD	19.91	19.96 18.93	0.97 5.12%