Banks credit growth dips to decade low

Friday, February 12, 2016

Despite interest rates reaching a three-decade low in 2015, banks credit growth slumped to a 10-year low as tight liquidity coupled with poor credit worthiness of customers slowed advances.

According to data availed by the Bank of Botswana (BoB), annual credit growth fell by nearly half from 14 percent in October 2014 to eight percent in October 2015, with decline almost entirely concentrated on corporate borrowing.

Credit growth rate was last below eight percent ten years ago when it reached 7.2 percent in December 2005.

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