Credit extension slows as banks

November 5, 2017, 6:00pm

Growth in private sector credit extension (PSCE) slowed at the end of September 2017 to 5.4 percent, as reflected in the lower demand for credit by both the household and corporate sectors during the review period, the central bank has reported.

“The subdued growth in domestic demand for credit as reflected in PSCE continued and is mainly attributed to the general sluggish demand for credit from both the household and corporate sectors in 2017. The annual growth in total PSCE slowed to 5.4 percent at the end of September 2017, from 6.2 percent at the end of the previous month,” the bank says.

READ MORE