LOANS to the private sector marginally rose 0,7 percent in April, signalling constrained lending by local banks on the back of the prevailing liquidity challenges. About
On a month-on-month basis, credit to the private sector, however, declined by 0,43 percent in
"The slowdown reflects constrained lending by banks on the back of liquidity challenges, as well as risk aversion in the wake of increasing non-performing loans," said the RBZ.
Loans and advances were largely in respect of agriculture (19,3 percent), distribution (18,5 percent), households (18,2 percent), services (16 percent), manufacturing (14,7 percent), mining (6,6 percent) and construction (1,6 percent).
The RBZ said credit to the private sector continues to be short-term in nature and mainly utilised for recurrent expenditures. About 45 percent of the loans were spend on inventory while only 7,5 percent was spend on capital expenditure, said the central bank.
Annual broad money growth slowed down by 1,13 percentage points from 7,78 percent in
On a month-on-month basis, broad money increased by
Largely contributing to the growth in money supply, were expansions of
"The growth in money supply continued to be partly driven by tobacco sales. As at end of
The value of transactions processed through the RTGS system in
The total value of card-based transactions increased by 12,75 percent to
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