Banks' Stampede for Deposits to Intensify
The competition for deposits among local commercial banks is expected to escalate, as the central bank warns of tighter liquidity in the market, prompting lenders to raise interest rates to attract funds.
According to the Bank of Botswana's latest Banking Supervision Report, commercial banks are facing increasing pressures due to reduced government spending and decreased money circulation in the economy.
- Government spending is slowing down
- Less money is circulating through the economy
- Conditions worsened in the last part of 2024 due to low diamond sales
The amount of money available for loans, consumption, or saving is declining.
Author's summary: Banks face intense competition for deposits.
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