Banking sector spread jumps by 9bps MoM to 4.67% in March

MG News | April 20, 2022 at 05:25 PM GMT+05:00

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April 20, 2022 (MLN): The banking sector spread for the month of March 2022 increased by 9 basis points (bps) over the month which brings its latest value to 4.67% as compared to the prior month's spread of 4.58%, 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 36bps as it stood at 4.31% in March 2021.

As per data, the lending rate for all banks jumped by 3bps MoM and 177bps YoY to stand at 9.61%. Meanwhile, the deposit rate clocked in at 4.94%, declining by 6bps over the month while improving by 141bps over the year in March 2022.

In addition, fresh lending rates stood at 10.59% during the month under review, up by 25bps MoM, while on yearly basis, it rose by 289bps. Fresh deposit rates increased by 1bps MoM and 187bps YoY to 5.1%.

Thus, fresh banking spread during February 2022 stood at 5.49%, depicting a growth of 24bps MoM and 102bps YoY.

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