Banking spread expands by 34bps MoM to 4.6% in February

MG News | March 22, 2022 at 12:48 PM GMT+05:00

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March 22, 2022 (MLN): The banking sector spread for the month of February 2022 increased by 34 basis points (bps) over the month which brings its latest value to 4.61% as compared to the prior month's spread of 4.26%, 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 24bps as it stood at 4.38% in February 2021.

As per data, the lending rate for all banks jumped by 27bps MoM and 168bps YoY to stand at 9.62%. Meanwhile, the deposit rate clocked in at 5%, declining by 7bps over the month while improving by 145bps over the year in February 2022.

In addition, fresh lending rates stood at 10.32% during the month under review, down by 46bps MoM, while on yearly basis, it rose 264bps. Fresh deposit rates were reduced by 128bps MoM and increased by 196bps to 5.06%.

Thus, fresh banking spread during February 2022 stood at 5.25%, depicting a growth of 81bps MoM and 68bps YoY.

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