Banking sector spread mitigates by 77 bps to 5% in July
MG News | August 24, 2020 at 02:35 PM GMT+05:00
August 24, 2020 (MLN): The Banking sector spread for July 2020 susbstantially mitigated by 77 basis points (bps) over the month which brings its latest value to 5% as compared to prior month's spread of 5.77%. In a similar fashion, the spread has narrowed down by 103 bps as compared to the same period last year.
Going by the State Bank of Pakistan's monthly data released on Weighted Average Lending & Deposit Rates, the lending rate for all banks (inclusive of zero markup) mitigated by 114 bps as it stood at 8.94%. Meanwhile, the deposit rate mitigated by 37 bps over month, thus bringing the latest rate to 3.94%.
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