Banks scrap around for deposits
Friday, March 06, 2015
A snap survey of the banks’ deposits rates shows that the liquidity crunch has pushed up the cost of funds for the banks as deposits rates have risen, a development that will further squeeze profit margins in the prevailing low lending rates environment.
In the past six months, deposits rates for smaller depositors have slightly gone up from an average of about 3.75 percent to 4.10 percent for six months fixed deposits. For 12-months fixed deposits have gone up from 4.15 percent to 4.75 while two-year deposits has gone up from 4,5 percent to five percent.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...