When the hunted becomes the hunter

Friday, May 08, 2015

Cash walk: The Bank of Botswana has moved to ease the liquidity crunch

The recent volte-face in banks’ levels of liquidity has reversed the status quo in the industry, with commercial banks now chasing after the once ineffectual depositor.

With the industry facing shortages of loanable funds due to a prolonged period of over-extended lending without commensurate growth in deposits, banks have embarked on a deposit rummage offering unusually high returns for savers.

Sitting on over P10 billion in excess liquidity just two years ago, banks did not need to make any effort to attract deposits and offered menial interest rates to those that held any extra cash for savings.

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