Banking sector spread shrinks by 91 bps to 4.4% in June

MG News | July 22, 2022 at 05:14 PM GMT+05:00

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July 22, 2022 (MLN): The Banking sector spread for June 2022 narrowed down by 91 basis points (bps) over the month which brings its latest value to 4.41% as compared to the prior month's spread of 4.61%, 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 declined by 6 bps as it stood at 4.48% in June 2021.

As per data, the lending rate for all banks jumped by 59 bps MoM and 339 bps YoY to stand at 11.37%. Meanwhile, the deposit rate clocked in at 6.96%, expanded by 78 bps over the month and 346 bps over the year in June 2022.

In addition, fresh lending rates stood at 13.63% during the month under review, up by 72 bps MoM and 544 bps YoY. Fresh deposit rates increased by 80 bps MoM and 536 bps YoY to 8.79%.

Thus, fresh banking spread during June 2022 stood at 4.84%, depicting a decline of 8 bps MoM and an increase of 8 bps YoY.

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