Bank arrears top P6bn

According to recently released Bank of Botswana data, various sectors of the economy, including households, owed commercial banks about P6.1 billion as at April 30. About P1.57 billion of this was classified as “specific provisions” which means arrears that are more than 180 days overdue, regarded as being in the worst category of defaulters.

By comparison, in March, total commercial bank arrears were estimated at P5.8 billion, with specific provisions of P1.56 billion.