Banking sector spread increases by 53bps MoM in August

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

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	161,631.73 408.94M	3.13% 4898.86
ALLSHR	98,254.73 951.34M	2.71% 2590.07
KSE30	49,377.29 213.50M	3.40% 1624.91
KMI30	232,700.28 121.13M	2.88% 6525.03
KMIALLSHR	64,179.60 399.93M	2.39% 1496.52
BKTi	46,334.17 105.09M	5.56% 2441.42
OGTi	31,362.73 10.58M	1.56% 482.31

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,880.00	111,630.00 107,835.00	2925.00 2.73%
BRENT CRUDE	64.58	65.15 63.81	0.21 0.33%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.25 -1.53%
ROTTERDAM COAL MONTHLY	92.90	92.90 92.90	-0.25 -0.27%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.88	61.38 59.99	0.31 0.51%
SUGAR #11 WORLD	14.42	14.49 14.20	0.14 0.98%