Banking Sector Still Flush With Cash

Even micro lenders were advertising their loan facilities early in the year. A snap media survey during the first week of 2009 found Standard Chartered Bank flaunting personal loans with a three-month grace period. The facility is extended even to those already servicing their loans with Stanchart. The latest entrant on the market, Capital Bank, was unfurling its lower lending rates and running recruitment ads for a head of credit, a senior sales and marketing manager and an internal auditor.  The African Banking Corporation and Standard Chartered were also promoting reduced lending rates, as was First National Bank, which was also recruiting more staff.