Banking sector capitalisation increases

HARARE - Banking sector capitalisation increased to $1,24 billion by end of June 2017 from $1,22 billion recorded in the first quarter.

Parliament’s Budget Office (PBO) said all the banking institutions were adequately capitalised and complied with minimum capital requirements.

CBZ managed to hit $238,90 million core capital by June 30, 2017 from $237,58 million recorded in the first quarter. Stanbic Bank increased core capital by $6,7 million in the second quarter while BancABC and CABS showed a decline in capitalisation levels.

Although the liquidity ratios showed an improvement, the banking industry continued to experience underlying shortages of physical cash.

The PBO said cash shortages are a result of structural challenges facing the economy which include a high fiscal recurrent expenditure mostly employment related costs which generally increases the demand for cash.

In the second quarter, total deposits were $6,99 billion which is 6,7 percent higher than $6,55 realised in the first quarter. The maximum effective lending rate as at June 30, 2017 averaged at 11,94 percent from the 15,7 percent recorded by the end of December 2016.

Comments (2)

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CaptainBlack - 18 October 2017

All Zimbabwes banks are hopelessly insolvent. They lent all their customers USDollars to the RBOZ. In return the best they will get are mabondi notes. Best place to keep a USD comrades is in your own pocket or under your bed - never put it into a ZW bank as you will never see it again ! Thats the economic lesson for today

ace mukadota - 21 October 2017

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