Banking Sector Lending Rates Hints a Comeback While Deposit Rates Continues to Fall
Sri Lanka's banking sector's Average Weighted Prime Lending Rate (AWPR) reached a new monthly high of 5.86 percent at-end April by gaining five basis points (bps) compared to the beginning of the month.
On a Weekly basis, AWPR for the week ending 30th April increased by 32 bps to 5.86 percent compared to the previous week.
At-end April, Sampath Bank had the highest AWPR among local banks at 7.38 percent followed by Seylan Bank at 6.85 percent, Union Bank of Colombo at 6.79 percent.
The State-owned Bank of Ceylon, People's Bank along with Hatton National Bank, Commercial Bank of Ceylon, Pan Asia Banking Corporation, and NDB Bank maintained their AWPR below six percent.
Among foreign banks, Citi Bank recorded the lowest AWPR of 4.92 percent at-end April.
According to avila...