Barclays exercises more caution in lending
Tuesday, September 26, 2017
While borrowers have not cut down on loan demands, the bank says it has become more prudent, resulting in an overall marginal drop in customer loans and advances during the half-year ended June 30, 2017.
For the period under review, the bank’s loans and advances decreased by 0.32% to P9.96 billion from P9.99 billion in the corresponding period last year.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...