Brokers see modest EPS boost for banks on SBP\'s removal of MDR floor above Rs10m

The State Bank of Pakistan (SBP) has removed the Minimum Deposit Rate (MDR) floor on high-value savings deposits, prompting Pakistan's leading brokerages to issue same-day research notes on July 7, 2026, assessing the earnings impact on listed banks. The revised rule, effective August 1, 2026, exempts individual savings accounts with average monthly balances above Rs10mn from the minimum-rate floor, alongside Trusts and private limited businesses, while retaining the floor for smaller retail savers. All four brokerages linked the timing of the move to the government's discontinuation of the Telegraphic Transfer Charges Incentive Scheme (TTCIS), the remittance rebate that had subsidised banks' cost of acquiring foreign remittances.