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Banking sector performance in 2018 remains sound – BoN

Banking sector performance in 2018 remains sound – BoN

The local banking sector’s performance remained sound during 2018, despite the prevailing weak economic condition, the central bank said Tuesday.

The bank’s deputy governor, Ebson Uanguta in the central banks annual report for 2018 released this week said all banking institutions remained adequately capitalized, with enough buffers to cushion against any banking risks.

“The banking sector liquidity situation was fair and stabilized due to the availability of more funds
in the system by virtue of government payments and regulatory changes on domestic asset requirements for institutional investors,” he added.

Uanguta said due to tough domestic economic conditions, asset quality measured by nonperforming loans of the banking industry relative to total loans deteriorated to 3.6%, compared to 2.5% a year earlier. However, this ratio remained within the benchmark of 4%, he added.


 

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