Banking sector spread shrinks by 42 bps to 4.61% in May

MG News | June 21, 2022 at 11:01 AM GMT+05:00

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June 21, 2022 (MLN): The Banking sector spread for May 2022 narrowed down by 41 basis points (bps) over the month which brings its latest value to 4.61% as compared to prior month's spread of 5.02%, State Bank of Pakistan's monthly data released on weighted average lending and deposit rates showed today.

Alternatively, compared to the same month last year, the spread has unfolded by 16bps as it stood at 4.44% in May 2021.

As per data, the lending rate for all banks jumped by 52bps MoM and 286bps YoY to stand at 10.78%. Meanwhile, the deposit rate clocked in at 6.18%, expanded by 94 bps over the month and 270 bps over the year in May 2022.

In addition, fresh lending rates stood at 12.9% during the month under review, up by 104 bps MoM and 480 bps YoY. Fresh deposit rates increased by 220bps MoM and 486bps YoY to 8%.

Thus, fresh banking spread during May 2022 stood at 6.09%, depicting a decline of 116 bps MoM and 7bps YoY.

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