Published: 30 January 2014

The total banking deposits closed 2013 at $4,7 billion while loans and advances were at $3,7 billion, the central bank said yesterday.

As at May 2013, total deposits stood at $3,7 billion down from $4,2 billion during the first quarter of 2013 due to liquidity constraints.

Presenting the monetary policy statement yesterday, acting Reserve Bank of Zimbabwe governor Charity Dhliwayo said the loans to deposit ratio increased from 37,33% in June 2009 to 78,29% as at 31 December 2013.

Dhliwayo said the bulk of the deposits were short term in nature which has constrained the banking sector's potential to provide effective financial intermediation to productive sectors of the economy.
- newsday

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