Batswana indebted to banks

Wednesday, September 01, 2010

The level of arrears on commercial bank loans to households and businesses rose by 53 percent to P1.5 billion last year, as the recession's effects on the domestic economy eroded disposable incomes and hampered profitability.

Commercial banks' provisions for bad and doubtful debts - a reflection of the funds banks could lose due to arrears - shot up by 79 percent to P790 million in 2009, further mirroring the depressed economic environment of last year.

The Bank of Botswana (BoB) Banking Supervisory Report 2009 released last Friday indicates high incidence of arrears among household and business borrowers, with the central bank committing itself to "closely monitoring the banking industry," management of credit.

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