Arrears to banks near P6bn

Arrears to banks near P6bn. PIC. THALEFANG CHARLES
Arrears to banks near P6bn. PIC. THALEFANG CHARLES

Arrears to commercial banks reached P5.97 billion in November last year, with at least P2.73 billion of that figure attributable to households.

The November total for all outstanding arrears is the highest in several years, according to the latest figures from the Bank of Botswana.

According to the central bank, 2018 opened with arrears at P5.3 billion, which then dipped to P5.2 billion in June, before closing near P6 billion in November.

Arrears among households opened 2018 at P2.8 billion, slowing to P2.6 billion before reaching November at P2.73 billion.

Within the total arrears as at November 2018, P2 billion was classified as being beyond 180 days overdue, while P1.4 billion was classified as being in ‘specific provisions’, the most extreme extent of arrears.

Within households, P771 million was classified as being in specific provisions by November, representing the majority of the household arrears of P2.73 billion by that month.

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