Credit growth increases in February

Tuesday, April 03, 2007

The year-on-year growth in commercial banks' credit was 18.7 percent in February, an increase of 0.4 percent from 18.3 percent in January, Bank of Botswana (BoB) said yesterday.

The rate of increase is above the Bank of Botswana credit growth target range for 2007 of 11-14 percent.

The rise in credit growth was due to an increase in the annual growth of credit to the household sector, which rose from 17.6 percent in January to 19.9 percent in February. On a monthly basis, credit to this sector increased by 1.0 percent compared to 1.9 percent the previous month.

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