Banking sector spread rises by over 6% in Sept
MG News | October 24, 2019 at 02:50 PM GMT+05:00
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October 24, 2019 (MLN): The Banking sector spread for September 2019 increased by 27 basis points (bps) over the month which brings its latest value to 6.17% as compared to prior month's spread of 5.9%. Likewise, the spread has increased by 135 bps as compared to the same period last year.
As per 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) increased by 32 bps as it stood at 12.69%. Meanwhile, the deposit rate grown by 5 bps over month, thus bringing the latest rate to 6.52%.
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