Karachi, February 25, 2026 — The State Bank of Pakistan (SBP) on Wednesday released the latest Karachi Interbank Offered Rates (KIBOR) to provide guidance for banks, investors, and financial institutions on short- and long-term lending rates. The KIBOR serves as a benchmark for the pricing of loans, deposits, and other financial instruments in Pakistan’s banking sector.
Comparison of KIBOR rates shows minimal changes between February 24 and 25, indicating stability in interbank lending rates amid cautious market sentiment. Analysts note that the slight uptick in longer tenors, particularly the 9-month and 1-year rates, may reflect anticipated liquidity needs and inflation expectations in the near term.
KIBOR Rates – February 25, 2026
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.29 | 10.79 |
| 2-Week | 10.29 | 10.79 |
| 1-Month | 10.28 | 10.78 |
| 3-Month | 10.32 | 10.57 |
| 6-Month | 10.34 | 10.59 |
| 9-Month | 10.34 | 10.84 |
| 1-Year | 10.36 | 10.86 |
KIBOR Rates – February 24, 2026
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.29 | 10.79 |
| 2-Week | 10.29 | 10.79 |
| 1-Month | 10.28 | 10.78 |
| 3-Month | 10.32 | 10.57 |
| 6-Month | 10.34 | 10.59 |
| 9-Month | 10.33 | 10.83 |
| 1-Year | 10.35 | 10.85 |
Analysis:
The interbank rates remain largely unchanged across most tenors, signaling stable liquidity conditions in the market. However, the 9-month bid/offer increased by 0.01% and 0.01%, and the 1-year bid/offer rose by 0.01% each, suggesting a modest expectation of higher funding costs for longer-term loans. Short-term rates stayed steady, reflecting adequate liquidity and no immediate pressure on short-term borrowing. Financial analysts expect KIBOR rates to maintain this stability unless there are significant shifts in monetary policy or liquidity injections by the SBP in coming days.
This transparency in KIBOR dissemination helps businesses, banks, and investors make informed decisions regarding financing, investment, and interest rate exposure in Pakistan’s financial markets.