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Oct spreads up 8bps YoY

KARACHI: Weighted average banking spread have surged by 8bps YoY in the month of October, mainly led by fall in deposit rate, according to data released by the State Bank of Pakistan (SBP). Average spreads of the banks in the country reached 7.49 per cent in October 2010 against 7.41 per cent witnessed in same period last year.

During the month, outstanding loans issued by banks were charged an average interest rate of 13.32 per cent (including zero mark-up) while outstanding deposits were rewarded at an average rate of just 5.83 per cent (including zero mark-up).
If we compare on MoM basis, the spread dipped 8bps where they were 7.57 per cent in September 2010.
Cost of deposits increased by 6bps at 5.83 per cent while they were 5.77 per cent in previous month. However, lending cost dipped by 2bps on monthly basis to 13.32 per cent.


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