Banking spread rises by 103bps in March, YoY

MG News | April 24, 2019 at 12:36 PM GMT+05:00

0:00

April 24, 2019 (MLN): The banking sector spread for the month of March-2019 has increased to 5.68%, marking a growth of 17 basis points (bps) over the previous month. The banking spread, however, jacked up by 103 bps as against spread of 4.65% in the same period last year.

As per the data released by the State Bank of Pakistan on Weighted Average Lending & Deposit Rates, the lending rate for all banks (inclusive of zero markup) in Mar-19 stood at 10.69% whereas the deposit rate stood at 5.01%.

It is pertinent to mention that the Central Bank made significant changes to the monetary policy during the month, wherein it increased the policy rate by 50bps, which brought up the interest rate to 10.75%.

The interest rate hike was applicable from April 01, 2019, and while expectation of the interest rate being raised would have been factored into the Lending rates to some extent, the effect would be visible in April's Lending & deposit rate.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,034.93 513.44M	1.52% 2679.44
ALLSHR	107,392.74 1,107.91M	1.22% 1297.66
KSE30	55,017.41 279.74M	1.86% 1007.08
KMI30	254,699.07 209.00M	1.60% 4013.10
KMIALLSHR	69,477.96 622.48M	1.19% 818.48
BKTi	50,802.42 123.06M	2.40% 1189.90
OGTi	36,086.91 28.98M	2.36% 830.36

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	93,490.00	93,970.00 91,595.00	3300.00 3.66%
BRENT CRUDE	60.79	61.24 60.00	0.04 0.07%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	0.55 0.64%
ROTTERDAM COAL MONTHLY	98.15	98.15 97.40	1.25 1.29%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	57.28	57.73 56.56	-0.04 -0.07%
SUGAR #11 WORLD	14.60	15.05 14.57	-0.41 -2.73%