Banking sector spread increases by 7bps in April

MG News | May 21, 2024 at 06:07 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

May 21, 2024 (MLN): The banking sector spread for April 2024 has increased by 7 basis points (bps) MoM to 7.09% as compared to a spread of 7.02% in March 2024, 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 decreased by 79bps YoY as compared to a spread of 7.88% in April 2023.

The lending rate for all banks went up by 8bps MoM, and 1.35% YoY to stand at 18.92% in April 2024.

Moreover, the deposit rate inched up to 11.83%, 1bps higher than the previous month and 2.14% higher than the previous year.

In addition, fresh lending rates stood at 21.10% during the month under review, up by 28bps MoM and 89bps YoY.
Meanwhile, fresh deposit rates decreased by 10bps MoM to 10.32%.

While compared to April 2023, fresh deposit rates have dropped by 64bps YoY.

As a result, the banking sector spread on fresh deposits rose 38bps MoM to 10.79% in April.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	165,596.07 264.75M	-0.54% -902.76
ALLSHR	100,017.71 623.24M	-0.46% -463.69
KSE30	49,464.92 86.97M	-0.60% -299.08
KMI30	238,952.40 97.00M	-0.58% -1388.16
KMIALLSHR	65,314.16 323.73M	-0.44% -285.47
BKTi	44,788.98 46.84M	-0.77% -347.65
OGTi	35,107.09 7.04M	-0.41% -145.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,165.00	81,895.00 78,675.00	-2455.00 -3.01%
BRENT CRUDE	109.47	109.75 106.26	3.75 3.55%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-2.95 -2.61%
ROTTERDAM COAL MONTHLY	109.00	109.00 108.75	1.25 1.16%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	101.16	101.57 97.23	4.24 4.37%
SUGAR #11 WORLD	14.78	15.07 14.67	-0.21 -1.40%